 I'm Nicole Murray with your Money Now. Americans are having car trouble. According to a July 2024 Cox Automotive report, car repossessions are up 23% compared to last year, which is also 14% higher than the 2019 pre-pandemic levels. Repossessions occur when you fall behind on your car payments, usually by two to three months. The car market has faced its fair share of challenges after a widespread cyber attack in June.