Car repossessions on the rise in Michigan as drivers fall behind on payments
DETROIT – As car repossessions rise across the country, Michigan's Association of Repossession Agencies said businesses are seeing close to triple ...
DETROIT – As car repossessions rise across the country, Michigan's Association of Repossession Agencies said businesses are seeing close to triple the numbers they were seeing before the pandemic.According to J.D. Power, in December 2022, the average monthly financial payment for a car was around $718. That's $47 more than in December 2021.'For every one I pick up, they send me 10 more. It's getting out of control,' said John Tsarkos, co-owner of Roseville's Rockwood Recovery. 'I can be out of there within 20-30 seconds.