Car Debt Piles Up as Interest Rates Soars, Says Report

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. 

More In Business

Rate Cut Reaction: Inside the Fed’s 25-Point Move and What Comes Next

Stephen Kates, Financial Analyst at Bankrate, joins to discuss the Fed’s 25-basis-point rate cut, inflation risks, and what it all means for consumers and marke

Inside Big Tech’s Earnings: How Alphabet, Amazon & Microsoft Stack Up

Big tech earnings take center stage as investors digest results from Alphabet, Meta, Microsoft, Amazon, and Apple, with insights from Gil Luria of D.A. Davidson

The Compliance Revolution: Closing the Risk Blind Spots with a 360-Degree Strategy

Goutam Nadella, Chief Product Officer at Smarsh, discusses the 360-degree view of risk in the context of compliance.

Big Business This Week: Building “deep tech” that matters

Maybe it’s not high-tech that’s the answer to improving the world, maybe it’s actually… “deep tech.”

The underdiscussed pure profit enterprise of movie rereleases

With rereleases being pure profit, why aren’t studios always doing them?

Why Consumers Are Hitting “Cancel”: Inside the Subscription Fatigue Era

Bank of America economist David Tinsley explains why streaming costs have consumers hitting cancel faster than play.

What September’s Inflation Numbers Really Mean: Insights From S&P Global

Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.

Beyond Binge-Watching: Curiosity Stream’s Vision for Intelligent Entertainment

Curiosity Stream CEO Clint Stinchcomb discusses how educational streaming and innovation are driving strong growth and audience engagement.

Using A.I. to Manage Risk on Wall Street

Patrick Palomo, Principal Solutions Architect at Smarsh, talks about working with Wall Street to deploy A.I. that helps predict and manage risk.

Big Business This Week: Will more health insurance costs hit business?

At the core of the ongoing government shutdown is a fight over the decision to end subsidies that let some 12 million Americans get health coverage.

Load More