Why Are Americans Paying so Much for Cars?
According to Kelley Blue Book, the average price of vehicles hit $36,000 in 2018 — an all-time high. These rising costs didn’t do anything to slow the purchase of cars in the United States. Americans have accumulated over $1.2 trillion in car debt, another all-time high! Another number reading record-breaking highs? Interest rates on car loans. In January 2018, the average annual interest rate on car loans was 4.99 percent. In January 2019, that number had jumped to 6.19 percent, the highest it has been since the Great Recession. As the cost of cars increases, monthly payments for car buyers are becoming more difficult to manage. Most Americans are paying $550 per month for their new car. According to Experian, the most common loan term is 72 months. The biggest trouble with these car loans is the fact that most dealerships aren’t selling cars based on what people can afford, they’re
How can I avoid paying too much for my car?
First, determine if you really need a car. New cars have become a status symbol in the United States. Some people replace their car as often as they replace their phone! But unlike your iPhone, cars are built to last. A quick way to save tens of thousands of dollars is to not buy a new car unless you absolutely need to. If the time has come and you can’t put off getting a new car any longer, do the math and consider the total amount you’ll be paying over time. Based on the interest rates in January of 2019, an average 60-month loan costs a total of $36,947. If you tack 12 extra months onto the loan, the cost increases to $38,039. If your monthly budget can handle it, opt for a shorter loan with slightly higher monthly payments. You’ll be saving money in the long run.
selling cars based on what they’re qualified for. This is a big difference. Being qualified for a new car doesn’t mean your budget can handle the monthly expense.
RECIPE:
Roasted Radishes With Radish Greens
Isaiah 5:20 “20 Woe unto them that call evil good, and good evil; that
Radishes start showing up in droves during the spring and summer months, but all too often we only eat the bulbs raw on salads and discard the greens. This recipes bucks both of those trends, with the radishes being roasted alongside their green tops.
INGREDIENTS:
• 3 bunches radishes with greens attached • 2 tablespoons extra-virgin olive oil • Salt and pepper, to taste
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2 tablespoons unsalted butter 2 tablespoons fresh lemon juice
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put darkness for light, and light for darkness; that put bitter for sweet, and sweet for bitter!”
DIRECTIONS:
1. Heat oven to 500 F. While heating, trim radishes and wash greens. Pat both dry using a paper towel. 2. In a large ovenproof skillet, heat oil over high heat until shimmering. Season radishes with salt and pepper, add to skillet, and cook until lightly browned, about 2 minutes. Transfer entire skillet to oven rack and roast for 15 minutes. 3. Once removed from oven, return skillet to stove. Over medium heat, stir in butter and add greens. Cook until they are wilted, about 2 minutes. 4. Finish with lemon juice and additional salt if desired. Serve immediately
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