Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

• Car Debt Is Piling Up as More Americans Owe Thousands More Than Vehicles Are Worth
• For the typical American, a new car is increasingly out of reach. Today, about two out of 13 people are making monthly car payments of $1,000 or more. For many, there’s no choice: They have few or no public transportation options and need a car to get to work, bring children to school and buy groceries.
• “Because these car loans are generally unaffordable at the outset, that means that every month, borrowers are getting closer to the financial edge,” said Kathleen Engel, a law professor at Suffolk University.
• The cost of new vehicles has risen 20% since the start of the pandemic, while used vehicles are still up 37% even after cooling in the fall.

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