• 목록
• 답변
• 글쓰기
• 게시판 리스트 옵션
  • 수정
  • 삭제

Open navigation Main Menu Mortgages

Financing a home purchase refinancing your existing loan Finding the perfect lender Additional Resources
Looking for a financial advisor? Take our 3 minute quiz and connect to an adviser today.



Main Menu Banking

Calculators to compare accounts Use the calculators and get help from bank reviews
Looking for a financial advisor? Try our three minute test and then match up the advisor you want today.



Main Menu Credit cards

Compare according to category Compare by credit needed Compare by issuer Get advice
Looking for the perfect credit card? Narrow your search with CardMatch(tm)



Main Menu Loans

Personal Loans Student Loans Auto Loans Loan calculators
Find an individual loan within 2 minutes or less. Answer a few questions to be offered loans, with no effect on your credit score.



Main Menu for Investing

Best of Brokerages and robo-advisors . Learn the basics Additional information
Looking for a financial advisor? Take our 3 minute quiz and match to an adviser today.



Main Menu Home equity

Get the best rates Lender reviews. Calculators. base
Looking for a financial advisor? Do our 3-minute quiz and match to an adviser today.



Main Menu Real estate

Selling a home Buying a home Finding the right agent resources
Looking for a financial advisor? Take our 3 minute quiz and then match up to an adviser today.



Main Menu Insurance

Car Insurance Homeowners insurance Other Insurance Company reviews
Looking for a financial advisor? Do our 3-minute quiz and match to an adviser today.



Main Menu Retirement

Retirement accounts and retirement plans Get the basics of retirement calculators Other sources
Looking for a financial advisor? Take our 3 minute quiz and then match up the advisor you want today.



The search is open and closed.

Submit


Recession watch: Holiday car shopping statistics and predictions Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive financial calculators and tools, publishing original and objective content. We also allow you to conduct your own research and analyze information for no cost and help you make informed financial decisions. Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The deals that are displayed on this website come from companies that pay us. This compensation may impact how and when products are featured on this website, for example the sequence in which they appear within the listing categories and other categories, unless prohibited by law. This applies to our mortgage or home equity, and also other products for home loans. This compensation, however, does not influence the information we provide, or the reviews you see on this site. We do not include the universe of companies or financial offers that may be accessible to you.



SHARE:

On This Page on This Page
Prev Next







FG Trade/Getty Images
3 min read Published November 28th, 2022.
Written by Rebecca Betterton Written by Auto Loans Reporter

Rebecca Betterton is the auto loans reporter for Bankrate. She is a specialist in helping readers with the ins and outs of securely using loans to buy an automobile.







Edited by Rhys Subitch Edited by Auto loans editor

Rhys has been writing and editing for Bankrate since late 2021. They are passionate about helping readers gain the confidence to take control of their finances through providing clear, well-researched information that is broken down into complex topics into manageable bites.









The Bankrate promise
More information
At Bankrate we are committed to helping you make smarter financial decisions. While we are committed to strict journalistic integrity ,
This post could contain some references to products offered by our partners. Here's a brief explanation of how we earn money .

The promise of the Bankrate promise
Founded in 1976, Bankrate has a long experience of helping customers make wise financial decisions.
We've maintained this reputation for more than four decades through demystifying the financial decision-making
process and giving people confidence about the actions they should do next. Bankrate follows a strict ,
So you can be sure that we're putting your interests first. All of our content is authored in the hands of and edited by ,
who ensure everything we publish will ensure that our content is reliable, honest and reliable. Our loans editors and reporters focus on the points consumers care about most -- the different kinds of loans available as well as the best rates, the best lenders, ways to pay off debt , and more . This means you'll feel safe making your investment.



Integrity of the editorial process
Bankrate follows a strict , so you can trust that we'll put your needs first. Our award-winning editors, reporters and editors produce honest and reliable information to aid you in making the best financial decisions. Our main principles are that we appreciate your trust. Our goal is to offer readers truthful and impartial information, and we have standards for editorial content in place to ensure that this happens. Our reporters and editors thoroughly verify the truthfulness of content in order to make sure that what you read is accurate. We keep a barrier between advertisers as well as our editorial staff. Our editorial team doesn't receive any direct payment from our advertisers. Editorial Independence Bankrate's editorial team writes on behalf of YOU who are the readers. Our goal is to give you the best advice to assist you in making smart personal financial decisions. We adhere to strict guidelines in order to ensure that our editorial content is not influenced by advertisers. Our editorial staff receives no directly from advertisers, and all content is fact-checked to ensure accuracy. Therefore, whether you're looking at an article or review, you'll be able to trust that you're receiving reliable and dependable information.



How do we earn money?
If you have questions about money. Bankrate has answers. Our experts have been helping you master your money for over four decades. We strive to continuously give consumers the professional advice and tools needed to be successful throughout their financial journey. Bankrate adheres to strict standards policy, which means you can be confident that our content is honest and accurate. Our award-winning editors and journalists produce honest and reliable content to help you make the right financial decisions. The content created by our editorial team is objective, truthful and uninfluenced through our sponsors. We're transparent about the ways we're able to bring quality content, competitive rates, and practical tools for you by explaining how we earn money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for the placement of sponsored products andservices or when you click on specific links on our website. So, this compensation can impact how, where and in what order products are displayed within the categories of listing in the event that they are not permitted by law. We also offer mortgage, home equity and other home loan products. Other factors, such as our own website rules and whether a product is available within the area you reside in or is within your self-selected credit score range could also affect how and where products appear on this site. Although we try to offer a wide range offers, Bankrate does not include information about each financial or credit item or service.



As the holiday season approaches the last thing you want to be thinking about is the possibility of recession expected to arrive over the next year. However, not all ignorance is bliss. Inflation is rising and the possibility of recession will impact all facets in the world economy. This includes car buying, with new vehicles coming out in October, as per Kelley Blue Book. If you're like the that are concerned about the current recession, patience may be the best option to save money. Instead of gifting the car with a large bow this holiday seasonfor your self or someone else- consider where prices stand and what you can do to prepare for the future . Statistics on recession preparedness Unfortunately, the holiday season is famous for overspending -- many times, it results in people spending more than they can afford. A recent study revealed that 27 percent of consumers admit to spending more than they can afford for Christmas gifts. If consumers remain within the trend of spending this year thus far it is possible that issues will arise. In March 2022 even though inflation was up 8.5 percent, consumers spent over two years before according to a McKinsey study. 51 percent of adults believe that inflation will rise more in the next year than it is at present. Car loan balances were at a high as November 2022. The average monthly installment for new vehicles during the 2nd quarter 2022 period was $667. The average monthly payment for cars that were used during the second quarter of 2022 stood at $515. New vehicle sales fell from a high of 16.9 million in 2005 to during the recession. The survey found that 41 percent Americans aren't sure if they're prepared for a recession if it were to happen before the end of 2023. 38.22 percent of consumers financed new vehicles in this second quarter.


Statistics on holiday shopping Many shoppers get caught in the trap of seeking out the perfect gift, which could result in spending more than they budgeted for and even straining finances. Some shoppers this year though are opting for a different route, with three out of five choosing to cut back on spending according to . This is a wise decision considering that the price of a consumer index stood at 298.1 in November's mid-point, an increase from 274.1 one year ago. Whatever the reason behind the need to tighten your purse this winter, now is an ideal moment to consider the impact of spending too much on every aspect of your financial health. 40% of consumers believe that inflation could alter the way they spend their money this year. There are nearly 30 percent better used vehicle offers in January. The majority of people will employ money-saving tactics during the holiday season. This winter, there is a rise in those who buy luxury cars and sports cars. 27 percent of people who shop for gifts confess to feeling financially stressed during the holiday time of the year. 59 % of shoppers plan to spend less on gifts this holiday season.


How to prepare for a downturn in 2023? The drivers of 2008 faced a similar fate The predicted recession of 2023 carries many factors that people 13 years ago didn't have to take into consideration. Most importantly, there are the supply chain problems which continue to increase costs for vehicles. Due to stock limitations and the lack of inventory, you are unlikely to get the deals that drivers in 2008 were given. However, there are several ways to be prepared for your personal finances and car purchases. Take note of these tips to save money in a recession. 1. Buy only what you can afford The primary way to ensure that you don't fall into a precarious financial situation when purchasing a car is to buy only what you can manage to afford. Make sure you are aware of calculate this figure while taking in the costs that may accrue throughout ownership , like visits to the mechanic or refilling the tank on the gas pump. 2. Build up your emergency fund Experts recommend that you have enough money to cover three to six months of expenses. However, pennies can accumulate and it's best to begin saving as soon as you can. Consider the idea of establishing your emergency fund in the form of a -- that you make interest in. 3. While buying an electric vehicle can have a higher upfront cost, they can cost you less over the entire length of ownership. Less trips to the pump could result in thousands of dollars saved, so think about whether driving an electric car fits into your budget and lifestyle. 4. Be cautious when it comes to an extended loan Although it may seem attractive, it is also accompanied by some risks. If you sign up for an extension loan will mean your monthly cost is cheaper but it doesn't mean you will spend less altogether In fact it's the reverse. A longer-term loan stretches out the amount of money you must pay over a longer period which means there's an extended period of time in which interest can accrue. 5. You can apply for loan preapproval. Although not all lenders provide the option of applying for loan but it is one of the most efficient ways to know your financial contribution to car ownership in advance. Loan preapproval is simply a way to ensure that you are able to lock in the anticipated monthly price prior to signing the"dotted line. By doing this you can know if the vehicle you're considering will seamlessly work within your budget. 6. Refinance your car if your loan exceeds your budget, you might prefer to refinance your current car to lower your monthly cost. This is particularly true if your credit score has improved since receiving your loan or originally signed off with an agent.


SHARE:
Written by Auto Loans Reporter

Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers in navigating the details of taking out loans to purchase an automobile.



Edited by Rhys Subitch Edited by Auto loans editor

Rhys has been editing and writing for Bankrate since late 2021. They are passionate about helping readers gain confidence to take control of their finances through providing clear, well-researched data that boils down otherwise complex topics into manageable bites.






Auto loans editor




Related Articles Car Insurance 7 min read Dec 02 2022

Personal Finance 6 min read on October 25, 2022

Personal Finance 6 min read on Nov 25, 2019

Personal Finance 6 minutes read Nov 13 2019, 2019






About
Help
Legal Cookie settings Don't sell my personal information
How we make money Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated for the promotion of sponsored goods and, services, or when you click on specific links on our site. This compensation could impact how, where and when products appear within listing categories, with the exception of those the law prohibits it for our mortgage and home equity products, as well as other home loan products. Other factors, such as our own website rules and whether the product is available in your area or at your own personal credit score could also affect how and where products appear on this website. While we strive to provide a wide range offers, Bankrate does not include specific information on each financial or credit item or service. Bankrate, LLC NMLS ID# 1427381 | BR Tech Services, Inc. NMLS ID #1743443 |
|

(c) 2023 Bankrate, LLC. It is a Red Ventures company. All Rights Reserved.

When you have almost any inquiries relating to wherever in addition to tips on how to work with same day payday loans online bad credit, moneyfs.ru,, you possibly can e mail us in our own web-page.