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prima:“Worrying trend” in the number of repossessed cars in Puerto Rico

Repossession numbers could return to pre-pandemic levels by year-end

November 1, 2024 - 9:05 AM

In 2023, 12,900 cars were repossessed in Puerto Rico. In the first half of 2024, the number of repossessed vehicles already exceeded half of the previous year's repossessions, according to data from the Office of the Commissioner of Financial Institutions (OCIF). (JIM LO SCALZO)

If the upward trend in repossessed cars continues, Puerto Rico could reach or even surpass this year the motor vehicle repossessions recorded before the Covid-19 pandemic.

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