What happens if your car gets repossessed — and how to avoid it

Car ownership remains a struggle for many Americans. In the first quarter of 2026, the average monthly loan payment on a new car sped past $800 for the first time, according to data from JD Power , and nearly one in five borrowers is shelling out more than $1,000 a month. It's a symptom of how ongoing inflation is stretching budgets to their limits, said debt relief attorney Leslie Tayne , founder of the Tayne Law Group and author of "Life & Debt: A Fresh Approach to Achieving Financial …