Trucks are refinanced more than any other personal vehicle type on the road and driving higher monthly refinance savings ($89 on average in 2018 for truck owners versus $77 on average for car owners), according to a new RateGenius report.
More than eight in 10 U.S. vehicle owners and lessees believe car owners should have full access to and control of their vehicle's data, including maintenance and repair information, according to the results of a survey released today by the Auto Care Association.
Nielsen released findings that revealed the dizzying array of choices car buyers confront along their path to purchase. The Nielsen Auto Marketing Report 2018 shows that by the time car shoppers are ready to buy, they have twice as many brands under consideration than when they started their search. Findings from the report also highlight the importance of being top-of-mind with car buyers, which accounts for 90% of a brand's purchase intent.
Many drivers may feel that they don't have the time or money to address vehicle repairs immediately, but be aware that ignoring some repairs can get you pulled over and even ticketed, says the Car Care Council.
Before you hit the road this summer, make sure your vehicle is road trip ready so you can have any problems fixed before you go. A pre-trip vehicle checkup will help avoid the inconvenience, potential safety hazards and unplanned expense of breaking down miles away from home, says the non-profit Car Care Council.
Budgeting for monthly expenses like groceries and utility bills is a no-brainer, but according to a new study conducted by Liberty Mutual Insurance, Americans aren't budgeting for essential home or car maintenance. The research found that the majority (80%) of homeowners and (74%) of auto owners don't have a plan or budget in place and tend to procrastinate or deal with home and car maintenance issues as they arise. In fact, almost half of Americans (48%) have less than $1,000 saved for home maintenance issues or repairs and one in three have no money saved. When it comes to auto maintenance, the majority of Americans (60%) are saving less than $500 and more than one-fourth aren't setting aside any money at all.
"Thanks to the internet, researching a car has never been easier. What used to take days traveling from dealer to dealer now takes minutes as potential purchasers cruise websites and forums to view details on new models, check dealer inventory and pricing, read reviews and even negotiate entire transactions."
The 21.3% of consumers who plan to freshen up their driveway with a new car this year may experience sticker shock if they're heading to the dealership for the first time in a few years, according to the car-shopping experts at Edmunds. Thanks to a combination of rising interest rates, longer loan terms and higher average transaction prices, Edmunds experts say, on average, a buyer could pay $6,500 more to purchase a new vehicle than they did five years ago.