The Federal Reserve’s decision to possibly drop the federal funds rate signals economic improvement, benefiting interest rates across various sectors, including home and car loans.
Used car prices fell by 10.9% in July, largely due to a classic supply/demand cycle returning as new car production normalized after earlier supply chain issues.
The average vehicle on the road is now 12.6 years old, as consumers hold onto their cars longer, partly due to their increased durability and longevity.
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