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Kelley Blue Book s Service and Repair Tips to Add Value, Keep Your Vehicle Operating Reliably for the Long Haul

Kelley Blue Book s Service and Repair Tips to Add Value, Keep Your Vehicle Operating Reliably for the Long Haul
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Rise in car loans boosts US consumer credit usage in April, Fed report shows

Rise in car loans boosts US consumer credit usage in April, Fed report shows By Kelsey Ramirez article More people are buying cars as the pandemic lifts and the demand is causing costs to surge. (iStock) Expand Americans are cutting back on their credit card usage for the first time in three months but are making up for it with an increase in auto credit usage, according to the In April, consumer credit increased at a seasonally adjusted annual rate of 5.3%, or by $18.6 billion, the report showed. Revolving credit such as credit cards decreased at an annual rate of 2.4%, while nonrevolving credit like auto loans, personal loans or student loans increased at an annual rate of 7.6%. Mortgage loans are not included in the Fed’s report.

Car industry recovering from pandemic as demand for used cars surge

Car industry recovering from pandemic as demand for used cars surge Used car prices have been going crazy. If you ve been in the market for a new or used car, you may have run into an issue when it comes to getting what you want. It s a nationwide problem caused by the pandemic and a chip shortage and it s also impacted us here in Kern County. Posted at 5:28 PM, Jun 28, 2021 and last updated 2021-06-28 23:27:18-04 BAKERSFIELD, Calif. (KERO) — Are you looking for a new car? Or maybe you have a car you ve been thinking about selling? Now is a great time to do so as dealerships deal with a shortage.

Why It s a Terrible Time to Buy a Car, and How Long You Should Wait

Why It s a Terrible Time to Buy a Car, and How Long You Should Wait Photo: Simone Hogan (Shutterstock) With new and used car prices soaring due to shortages, you might want to reconsider your plans to buy a car and try again later at least until the end of summer, or whenever supply picks up again. Otherwise, you’ll really have to do your research to get a good deal, as you’ll be facing higher prices and fewer choices. Advertisement Car shortages have jacked up prices Factory shutdowns early in the pandemic have resulted in a microchip shortage that’s slowed down production on new cars, resulting in lowered inventory by 64% at dealerships nationwide, compared to a year ago. You may have noticed fewer cars on dealers’ lots, too the average number of new cars on lots is trending towards the low-30s, well below historical norms of at least 60, according to Cox Automotive. According to Kelley Blue Book, the average vehicle listing price was $39,833 in April, a 7.9% jump abov

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