Consumer Reports Offers Guidance on Managing Car Payments Amid Rising Costs
Consumer Reports has provided advice for individuals struggling to keep up with car payments, as new vehicle prices have surged to nearly $50,000 on average. Rising gas and insurance costs have compounded the financial burden, leading to an increase in late payments, particularly among those with lower credit scores. Consumer Reports emphasizes the importance of addressing payment issues early and suggests contacting lenders to explore options such as adjusting payment schedules or setting up hardship plans. Refinancing and lease transfers are also recommended as potential solutions. 
