the Voice of
The Communist League of Revolutionary Workers–Internationalist
“The emancipation of the working class will only be achieved by the working class itself.”
— Karl Marx
the Voice of
The Communist League of Revolutionary Workers–Internationalist
“The emancipation of the working class will only be achieved by the working class itself.”
— Karl Marx
Nov 24, 2025
Car repossessions have reached a record high in 2025. By October, 2.2 million vehicles had been repossessed in the U.S., surpassing the previous all-time high, last year’s 1.7 million. By the end of 2025, repossessions are expected to reach 3 million.
It’s no mystery why. Prices of cars, both new and used, have skyrocketed, and so have interest rates on car loans. Maintenance costs and insurance premiums have also soared.
Defaults on car loan payments and repossessions are highest among so-called subprime borrowers—one in fifteen subprime auto loans were at least two months past due in August. Subprime is a code word for low-income. So, in other words, working-class families are falling behind on payments, and losing their cars, at an alarming rate.
No surprise there either. With the cost of housing, food and utilities through the roof, working-class families are left with the bitter choice of what necessity to pay for last—meaning, often, not to pay at all. And for millions of workers across the U.S., losing a car means not being able to go to work, because public transit is very inadequate, sometimes even non-existent, in many parts of the country.
To working-class families, a repossession means sliding down deeper into poverty. But the capitalist class has increased its profits and wealth enormously by jacking up the prices of cars, loans and insurance.
It’s just how capitalism works: a few people amass tens, even hundreds of billions of dollars, while millions of working families fall into deeper misery. There is no way to “fix” the capitalist system. It needs to be discarded and replaced with a system that puts human need above profit.