The return of student loan payments could strain young buyers

Increased vehicle prices, interest rates and cost of living all strained the pocketbooks of American car buyers and owners last year. On top of all of that, student loan payments have resumed after taking a three-year break.

Federal student loan repayment paused during the pandemic and started back up in October. While payments were halted, 36 percent of consumers with student loans took on an automotive loan, according to TransUnion. Now saddled with more debt, those consumers are at particular risk, the credit reporting agency said.

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