Americans have a huge automotive debt problem right now. A new survey shows that 31 percent of American drivers who financed their car are underwater on their loans. The problem is even worse for EV owners – 46 percent of those folks have negative equity in their electric cars. Furthering the issue is the fact … Read more
Photo: Justin Sullivan (Getty Images) Jerome Powell, chairman of the Federal Reserve, said earlier today that inflation is on its way back down to reasonable levels — levels that would permit the Reserve to start lowering the interest rates it sets for overnight lending between banks. That change can effect everything from mortgages to credit … Read more
Photo: Hyundai Sometimes you don’t know what you’ll miss until it’s gone. It first occurred to me in 2020 that we were witnessing the disappearance of inexpensive cars, and back then there were still 17 brand new cars available for under $20,000. Late last year that number was down to six. A few months ago … Read more
Auto loan debt is at an all time high. While some of the blame for that can be put on things like stubbornly high interest rates and ever increasing car prices, some folks just never learned the kind of financial skills required to make a smart car-buying decision. Take TikToker Blaisey Arnold, who recently revealed … Read more
Generally speaking, Dave Ramsey and his cohorts have a history of giving some terrible and frankly unhelpful advice when it comes to buying a car. However, in this case of a young crypto investor who is “bad at planning,” Ramsey’s buy a cheap car and have no debt approach would have been beneficial. Tesla’s Cybertruck … Read more
Image: Kia A sucker walks into a new car dealership every minute. Dealership showroom floors are practically delivery rooms for freshly-born suckers. There are shiny new cars on the floor, and rapacious young sales professionals just waiting to lure you into something you can’t afford, don’t need, or otherwise shouldn’t own. I’ve seen them work … Read more
