Here's your summary from Why Car Repossessions Are Surging This Year (https://www.youtube.com/watch?v=bg7u2px6i1c) on the Bloomberg Television channel:
**TLDR:** Car repossessions are increasing due to consumers struggling to afford monthly bills, with subprime borrowers being most at risk.

1. Lenders were more lenient during the pandemic, leading to a dip in repossessions, but they are now climbing back up as consumers face financial difficulties.
2. Car insurance costs have risen, adding to the financial burden of owning a car.
3. People prioritize car payments over other bills because having a car is essential for work and daily life.
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