Due to the Covid Pandemic, the cost of automobile has rise to a very level. Plus you have limited supply because of supply chain disruption. Now you have higher interest rate that increased car payment to almost $800/mo. Now the prices of auto is slowly going down and sales are slowing, many people will be stuck with their high price car and trucks. These people will be upside down, or owing more than what their car is worth.
Car payments have skyrocketed in recent years - a result of high interest rates and high prices. Pandemic era shortages are partly to blame. But larger structural factors are, too. For years customers have been clamoring for fancier cars, and automakers have raked in the profits. In the short term, rising incentives and falling prices may provide some relief. But insiders wonder what the car market will look like over the next decade.
Source: CNBC Video
• Why Car Payments Are S...
Негізгі бет WHY IS CAR PAYMENT SO HIGH AND OUT OF CONTROL? Many people will be stuck with their auto purchase!
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