Light Hits: This Week in Collision Repair
Americans are now carrying a record $1.68 trillion in auto loan debt, with monthly payments soaring nearly 40% since 2018 and subprime delinquencies reaching their highest levels in more than three decades, according to a report from CarEdge. The report says average monthly car payments have climbed to roughly $680, with some estimates nearing $760 per month. More borrowers are taking on seven-year loans or longer just to afford transportation.
CarEdge has been tracking the affordability crisis and recently analyzed Fitch ratings data showing subprime auto delinquencies are now more common than at any point in 32 years, with a record number of borrowers falling more than 60 days behind on payments.
Copart reaffirmed its pledge to the Collision Industry Foundation Annual Donor Program at the highest tier, “First Responder.” Introduced in 2021, the program enables the CIF to provide immediate financial relief to collision repair professionals in need after a disaster. A list of annual donors is available here. It is through the donors’ generosity that CIF can help individuals impacted by accidents, floodings, and wildfires in many parts of the country. Check out testimonials from recipients here.
A new study from the Insurance Institute for Highway Safety found that from 2018 to 2022, advertisements emphasizing vehicle performance increased even as deaths linked to speeding and aggressive driving continued to mount. Forty-three percent of vehicle ads aired during 2018, 2020 and 2022 highlighted speed, maneuverability, traction, stopping, or power. The focus on performance grew over time, and speed was emphasized more than twice as often as safety, the researchers found.
“Showing a stunt driver zooming around a tight turn in the rain might seem harmless, but these ads reinforce our cultural obsession with speed,” IIHS President David Harkey said. “The fine print may caution that it’s a professional driver on a closed course, but the message they convey is that you can drive this way too.”
That’s not a helpful takeaway for U.S. drivers. In 2024, 11,288 lives were lost in speed-related crashes, representing 29% of all road deaths in the country.
Nearly 60 rescue units from across Colorado donned their gear at the South Adams County Fire Department Station 25 & Outdoor Training Facility in Commerce City, Colorado, for a hands-on learning experience teaching them how to rescue accident victims from late-model vehicles. These life-saving skills are critical when minutes matter most, all thanks to Arvada Auto X, GEICO, Allstate, and the National Auto Body Council F.R.E.E. program.
The program helps prepare local first responder teams to rescue accident victims from these late-model vehicles with education and live demonstrations on working with high-strength steel, airbags, advanced restraint systems, onboard technology and safety around alternative fuel vehicles.