Car debt is piling up for consumers, according to a Bloomberg News report. The outlet found that the amount of negative equity, or the amount that debt surpasses a vehicle's value, is building up. This has led many car owners to show up at lots underwater, which is also known as "upside down," as they try to trade in their debt-burdened cars. The situation has emerged against a backdrop of rising interest rates, with the average new-car interest rate hitting 6.9 percent in January, up from 4.3 percent a year earlier, according to Edmunds.
Ahead of the July 4th holiday weekend, flight delays and cancellations have impacted thousands across the country. Cheddar News checked in from New York's LaGuardia Airport for more.
Overstock.com CEO Jonathan Johnson joined Cheddar News after a bankruptcy court approved its purchase of Bed Bath & Beyond's digital and IP assets. Johnson looked ahead to what consumers can expect as those assets are absorbed into Overstock.com and what lies ahead overall.
