Lauren Fix, international automotive expert says the car bubble is not going to burst. Typically, she says, there are a lot of cars, a lot of inventory, manufacturers need to get rid of them, and there are incentives. There are no incentives, no financial breaks and we are going to look at interest rates going up and people are thinking of keeping their cars.
Lauren says if I were you and I had a leased vehicle and you love your vehicle and you have low mileage don’t turn it in, buy off the lease. She says a lot of dealers don’t like that because they need the inventory. She goes on to say things probably change until 2024 because there is a chip shortage.
Lauren talks insurance rates and what can make them go up or down. Safety features like blind spot detection and other safety features can lower the cost of your insurance. If you have a lot of accidents, a DWI, or lots of tickets those are things that will increase your rate.
