A car market crash of epic proportions is already in motion, according to new data released by Manheim Market Insights and Cox Automotive. In June, car prices faced a record drop, marking the end of two years of hefty increases. Used vehicles saw the biggest monthly declines since the pandemic boom, while new cars are about to plummet in value due to an oversupply crisis that is shaking the US auto market.
Still, higher interest rates are making monthly car payments far more expensive than they were just a year ago, and many Americans who bought a vehicle in the past couple of years, and are now seeing its cost fall off a cliff, are already underwater on their loans, which indicates that a wave of financial turmoil is right ahead.
In these tough financial times, you need a company you can trust with stewardship of your life’s savings. We recommend […]
Excerpt Sourced From: discern.tv
