More Americans are financing new cars over seven years, yet many borrowers return to the market earlier. New research reveals the risk of carrying old car debt into another purchase. Continue reading Americans Are Borrowing for Seven Years to Buy Cars. What Happens When They Want to Replace Them After Four?
When an old car finally gives up, buying another one can turn a mechanical failure into years of financial pressure. Continue reading The New American Car Payment Is $776. Who Can Still Afford to Replace a Broken Car?
New cars cost Americans close to $50,000 on average. Yet vehicle sales produce only a fraction of some dealerships’ gross profit. Financial filings reveal the business behind the showroom. Continue reading America’s Car Dealers Make Money Beyond the Sticker Price. Buyers Still Face the Bill.
In recent years, there has been a growing concern about Americans falling behind on car loans. This trend has raised questions about the reasons behind this phenomenon and its potential implications. One of the factors contributing to this issue is the increasing cost of automobiles. As prices of new and used cars continue to rise, many individuals find themselves unable to afford the monthly payments that come along with car loans. In addition, the allure of owning a brand new car combined with easy financing options often leads people to take on larger loan amounts than they can comfortably manage. … Continue reading Why are Americans falling behind on car loans?