Car-Buying in an Inflated Market with Jenni Newman – Kiplinger’s Personal Finance

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David Muhlbaum: Cars are expensive these days. In fact, they’ve been on the leading edge of the inflation surge that’s paining the U.S. economy. Maybe you’re trying to wait it out, hoping that prices will eventually fall, but maybe you don’t have a choice and need a car now. Jenni Newman of joins us to talk about what you could expect to pay and how the way we buy cars is changing. Also, we’ll come back to the suddenly sexy US savings bond, all coming up on this episode of Your Money’s Worth.

David Muhlbaum: Welcome to Your Money’s Worth. I’m senior online editor David Muhlbaum, joined by my co-host, senior editor, Sandy Block. How are you doing Sandy?

Sandy Block: I’m doing great.

David Muhlbaum: Good. A few episodes back here, we were discussing Series I savings bonds — again — and I made a vague promise to actually buy one. And I am proud to report that I have done so. I just checked the account and I now have an investment backed by the full faith of the US government and it pays a 9.62% coupon. Well, for now it does.

Sandy Block: Yeah. That ‘for now’ is one of the catches and I’m sure you’re aware of that.

David Muhlbaum: Yes, I do. But actually, I do want you to enumerate all the other catches to my very smart purchase. We’ll get to those, but that 9.62% interest rate, that’s pretty insane. You’re not going to get that anywhere else these days, no matter how hard Jerome Powell and his friends yank on the brakes with rate hikes.

Sandy Block: No, that’s right. In fact, I was reading an article today sort-of celebrating the fact that some banks are now paying more than 1% interest on savings accounts. There’s nothing even remotely close to that unless you’re going out and taking a huge amount of risk. It’s just really unprecedented. And I’ve written about savings bonds for a long, long time.

David Muhlbaum: When they were boring.

Sandy Block: When they were very boring. That’s right. I just don’t think the government, when they created I bonds, ever anticipated that it would …….


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