How Americans Are Struggling With Car Loans

More than 100 million Americans have an auto loan and auto loan debt in the U.S. is at a record high of $1.56 trillion. Between the Covid-19 pandemic, supply chain issues, alleged predatory lending practices, inflation, and the Federal Reserve's interest rate hikes, getting an auto loan is getting increasingly difficult and costly. CNBC spoke with Chase Auto and Toyota Financial Services to learn what's happening in the auto loan industry and what consumers can do to make sure they're protected. Chapters: 00:00 — Introduction 01:51 — How auto loans work 05:49 — Market changes 08:19 — Alleged predatory lending 13:19 — Consumer protection Produced and Edited by: Emily Lorsch Animation: Alex Wood, Jason Reginato Senior Managing Producer: Tala Hadavi