Across the US, people are increasingly defaulting on their car loans — a dire economic indicator because these loans are usually the last payment Americans are willing to miss. Meanwhile, auto insurers are raking in record profits after hiking rates.
You think they actually pass those post-sale earnings on to the customer as savings? Why would they, when they could have their cake and eat it too? The average price for a new vehicle topped $50k recently, so they’re clearly not worried about keeping prices down.