Author Bio
James Brumley is former stockbroker with a large Wall Street firm, and a former trading analyst for a small, options-based newsletter. After twenty years of professional experience in and around the market, his approach is one that combines fundamentals, sentiment, and common sense. It s also an approach that respects this John Keynes reality: The market isn t always rational. Follow @jbrumley
Are you worried about the recent weakness from the market s key stocks? You re not alone.
There s a curious nuance about these pullbacks, though. That is, growth stocks are the names doing most of the damage. Their oversized run-ups since last March s low are now inspiring some major profit-taking. Value stocks which have been lagging for months are starting to outperform.
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In Illinois, a rate cap bill to address racial inequities and predatory lending signed into law in March has pulled automotive financing into the discussion, stirring up a debate among consumer advocates, auto lenders and dealers over consumer access to credit and credit-related products.
The measure, known as the Predatory Loan Prevention Act, places a 36 percent interest rate cap on all consumer loans of less than $40,000 and includes guaranteed asset protection products sold on vehicle purchases as part of the interest rate calculation a major detail that makes the law significant for franchised dealers in the state.
The all-in APR law borrows heavily from the federal Military Lending Act, which uses the same 36 percent cap for service members and covered relatives but excludes motor vehicle financing from its coverage.
Are Used Car Prices Spiking Thanks to Stimulus Checks?
As the supply of new cars decreases, prospective car buyers are increasingly being forced to enter the market for a used car, resulting in a seller’s market that has pushed up used car prices.
New reports suggest that used car prices have dramatically increased. According to the National Automobile Dealers Association, the average price of a used car climbed by 12.5 percent from last year to this year, with average prices going up from $21,020 in February 2020 to $23,643 in February 2021.
Rising rates of vaccinations in many parts of the country along with many states beginning to reopen many businesses, combined with the distribution of the third-round of direct federal stimulus payments worth up to $1,400 – which have now totaled over $386 billion – have helped to jumpstart the American economy by boosting both consumer spending and household income. This in turn has led to a greater demand for car purchases, as people
The Smart Way to Buy a Used Car Online
Buying a used car has some real advantages. Chief among them is the dollar savings you can achieve by letting a previous owner bear the brunt of the depreciation all new cars experience upon being sold.
On the other hand, those savings come with a degree of risk. After all, used cars are almost always sold as-is, with no warranty protections. In other words, what you see is what you get. However, you can also get what you don’t see.
That’s when knowing the smart way to buy a used car online can pay off.