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Maxed Out: Why Car Loan Payments Are Breaking American Budgets
Manage episode 499645141 series 2911349
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Episode Show Notes
- Even Walmart is feeling the pinch — their CEO reports consumers are financially stressed, leading to a $22 billion drop in value due to lower spending.
- If Walmart shoppers are cutting back, it signals a wider economic strain affecting all sectors.
- Used car values are dropping, putting high-interest, high-balance car loans at greater risk.
- Job losses and continued inflation could make it harder for many to afford car payments — with 20% of people already paying over $1,000 monthly.
- Car short sales are emerging as a popular solution for borrowers who owe more than their vehicle is worth.
- A car short sale can help you:
- Avoid paying the full negative equity in cash
- Sell your car for less than what’s owed
- Escape overwhelming monthly payments
- Financial stress is widespread across all consumer categories, impacting both new and used car markets.
- Fewer buyers can afford used cars, further reducing your vehicle’s value.
- Getting a short sale approved could help you get out from under a burdensome loan and protect your budget.
- Live one-on-one consultations are available with licensed experts in:
- Private investigation
- Commercial insurance brokerage
- Real estate title examination
- Civil court mediation
- General contracting
- Visit actualhum.com to schedule a personal consultation and explore solutions tailored to your financial situation.
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