Car repossessions surge in new sign of financial pain hitting Australian households

Double-digit increases in insurance costs and rising petrol prices contributing to significant' spike in supply of repossessed vehicles

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Car repossessions are rising sharply in Australia, in a sign of increasing financial distress that can have traumatic consequences on households, including robbing people of work opportunities.

Automotive auction house Pickles describes a recent spike in the supply of repossessed vehicles as significant", with numbers rising by 13% in the past six months and 11% over the last quarter.

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