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Consumer Reports Highlights Rising Car Payment Delinquencies Amid Economic Pressures

Consumer Reports Highlights Rising Car Payment Delinquencies Amid Economic Pressures

Consumer Reports has identified a growing trend of Americans falling behind on car payments as economic pressures mount. The report highlights that the rising costs of groceries, housing, insurance, and other essentials are making it increasingly difficult for families to manage their car payments. The average price of a new vehicle has surged to nearly $50,000, exacerbating the financial strain. According to recent data from Fitch Ratings, nearly 7% of Americans with lower credit scores are at least 60 days late on their car payments. Consumer Reports advises those struggling to keep up with payments to act early and communicate with lenders to explore options such as moving payment due dates, setting up hardship plans, or deferring payments. Refinancing and lease transfers are also suggested as potential solutions.
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Consumer Reports Advises Early Action on Unaffordable Car Payments Amid Rising Costs

Consumer Reports Advises Early Action on Unaffordable Car Payments Amid Rising Costs

Consumer Reports has issued a warning to drivers facing difficulties with car payments due to rising costs of new vehicles, gas, and insurance. The average price of a new car has surged to nearly $50,000, contributing to financial strain for many families. According to recent data from Fitch Ratings, nearly 7% of Americans with lower credit scores are at least 60 days late on their car payments. Consumer Reports emphasizes the importance of addressing these financial challenges early. Thomas Nitzsche from Money Management International notes that many individuals hesitate to contact creditors due to fear or shame, which can exacerbate the problem. Keith Barry, an auto expert from Consumer Reports, suggests that reaching out to lenders early can provide options such as adjusting payment due dates, setting up hardship plans, or deferring payments. Refinancing and lease transfers are also potential solutions, though they come with their own considerations.
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Consumer Reports Advises Early Action on Unaffordable Car Payments

Consumer Reports Advises Early Action on Unaffordable Car Payments

Consumer Reports has issued a warning to drivers struggling with unaffordable car payments, advising them to act early to avoid financial trouble. With new car prices averaging nearly $50,000 and rising costs for gas and insurance, many Americans are finding it difficult to keep up with payments. Recent data shows that nearly 7% of Americans with lower credit scores are at least 60 days late on their car payments. Consumer Reports suggests reaching out to lenders early to explore options such as moving payment due dates, setting up hardship plans, or deferring payments. Refinancing and lease transfers are also potential solutions.
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Consumer Reports Advises Early Action on Unaffordable Car Payments to Avoid Financial Strain

Consumer Reports Advises Early Action on Unaffordable Car Payments to Avoid Financial Strain

Consumer Reports Advises Early Action on Unaffordable Car Payments to Avoid Financial Strain
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Costco just lowered prices on key items

Costco just lowered prices on key items

As a 20-year Costco member who shops at the store on a weekly basis, I'm pretty used to the warehouse club giant's prices. And I can say that for the most part, they're all highly competitive. There's a reason for that.  Unlike traditional retailers that have to inflate prices to pay for ...
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Inflation Rises Across U.S., Affecting Both Red and Blue States

Inflation Rises Across U.S., Affecting Both Red and Blue States

Inflation Rises Across U.S., Affecting Both Red and Blue States
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Inflation Outpaces Wage Growth, Impacting American Workers' Purchasing Power

Inflation Outpaces Wage Growth, Impacting American Workers' Purchasing Power

Inflation in the U.S. is rising faster than wage growth, effectively reducing the purchasing power of American workers. According to the Bureau of Labor Statistics, consumer prices increased by 3.8% annually in April 2026, while average hourly earnings rose by only 3.6%. This marks the first time since April 2023 that inflation has surpassed wage growth. The rising costs of essential goods and services, such as housing, groceries, and energy, are squeezing household budgets, leaving less room for savings and financial security.
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U.S. Payrolls Increase by 172,000 in May, Indicating Strong Labor Market

U.S. Payrolls Increase by 172,000 in May, Indicating Strong Labor Market

U.S. Payrolls Increase by 172,000 in May, Indicating Strong Labor Market
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U.S. Job Growth Exceeds Expectations, Paving Way for Potential Fed Rate Hikes

U.S. Job Growth Exceeds Expectations, Paving Way for Potential Fed Rate Hikes

U.S. Job Growth Exceeds Expectations, Paving Way for Potential Fed Rate Hikes
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Consumer Reports Identifies Cost-Saving Supermarkets for U.S. Shoppers

Consumer Reports Identifies Cost-Saving Supermarkets for U.S. Shoppers

Consumer Reports has conducted a study revealing significant price differences in grocery baskets across various supermarket chains in the U.S. The research highlights that identical grocery baskets can vary in price by over 33% depending on the store. Warehouse clubs like Costco and BJ's are identified as some of the cheapest options, often being 20% less expensive than Walmart. Discount chains such as Aldi and Lidl also offer competitive prices. Conversely, stores like Whole Foods and Trader Joe's can be up to 40% more expensive than Walmart for similar items. The report suggests that consumers can save money by strategically shopping at different stores, utilizing loyalty programs, and being mindful of their shopping lists to avoid impulse purchases.
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Consumer Reports Reveals Supermarket Price Disparities Across the U.S.

Consumer Reports Reveals Supermarket Price Disparities Across the U.S.

Consumer Reports has conducted a study revealing significant price differences for identical grocery baskets across various supermarket chains in the U.S. The research indicates that the cost of groceries can vary by more than 33% depending on the store. Warehouse clubs like Costco and BJ's are often the most affordable, offering prices about 20% lower than Walmart. Discount chains such as Aldi and Lidl also provide competitive pricing. Conversely, stores like Whole Foods and Trader Joe's can be up to 40% more expensive. The report suggests that strategic shopping, including mixing visits to discount and traditional stores, can help consumers save money.
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AARP: Age 50+ spend $12.5 trillion, yet feel Social Security pain

AARP: Age 50+ spend $12.5 trillion, yet feel Social Security pain

Older Americans are playing an increasingly central role in the U.S. economy, with AARP, the nonprofit advocacy organization for older Americans, estimating that adults age 50 and older now generate $12.5 trillion in economic activity. Their spending power, workforce participation, and caregiving ...