Watching Your Wallet: Car Loans

BATON ROUGE, La. (WAFB) - Right now, the Federal Reserve’s recent actions to curb inflation are making it tough for lower-income people to afford car loans.

If you’re in the market for a new or used car, you know how tough it is to find something affordable.

We’re still recovering from how the pandemic affected car manufacturing. We’re getting there, but plant closures and computer-chip shortages have had a lasting effect on car production and sales.

If you have a car right now, you’re likely holding on to it a bit longer. But you may not be saving money by doing this because repairs aren’t cheap either. But compared to new prices, experts say this is the route to go for many Americans.

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