Car payments have skyrocketed in recent years - a result of high interest rates and high prices. Pandemic era shortages are partly to blame. But larger structural factors are, too. For years customers have been clamoring for fancier cars, and automakers have raked in the profits. In the short term, rising incentives and falling prices may provide some relief. But insiders wonder what the car market will look like over the next decade.
Chapters:
00:00 - 01:14 Title card - Why car payments are so high right now
01:23 Chapter 1 - Rising car payments
02:04 Chapter 2 - Why so high?
05:35 Chapter 3 - Good news
Producer: Robert Ferris
Editor: Darren Geeter
Animation: Jason Reginato
Senior Managing Producer: Tala Hadavi
Additional footage: Getty Images, Hyundai, Toyota, GM, Ford
» Subscribe to CNBC: cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: cnb.cx/SubscribeCNBCtelevision
About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Want to be a successful, confident communicator? Take CNBC’s new online course Become an Effective Communicator: Master Public Speaking. We’ll teach you how to speak clearly and confidently, calm your nerves, what to say and not say, and body language techniques to make a great first impression. Sign up today and use code EARLYBIRD for an introductory discount of 30% off through July 10, 2024: cnb.cx/4aryNgM
Connect with CNBC News Online
Get the latest news: www.cnbc.com/
Follow CNBC on LinkedIn: cnb.cx/LinkedInCNBC
Follow CNBC News on Instagram: cnb.cx/InstagramCNBC
Follow CNBC News on Facebook: cnb.cx/LikeCNBC
Follow CNBC on Threads: cnb.cx/threads
Follow CNBC News on X: cnb.cx/FollowCNBC
Follow CNBC on WhatsApp: cnb.cx/WhatsAppCNBC
#CNBC
Why Car Payments Are So High Right Now

Category :

#why#car#payments#are#so#high#right#now