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Before You Step on the Lot, Step Into Your Bank

So, you’ve decided it’s time to buy a car. You’ve already imagined the color, the sunroof, the Spotify playlists on blast…

But before you sprint to the dealership, there’s one major power move you should make first:

Get your financing game in order.

Why? Because walking into a dealership without loan prep is like grocery shopping while hungry — you’ll make emotional decisions, overspend, and leave with stuff you didn’t plan for (hello, $2,000 tire protection package).

Here’s how to avoid that fate and lock in a smarter, stress-free car buying experience:

💰 Step 1: Check with Your Bank First

Your personal bank or credit union may offer exclusive loan rates just for members.
They already know your financial habits, and in most cases, they’re not trying to make commission — they just want to keep your business.

🔍 Ask: “Do you offer pre-approvals or member-only car loan rates?”

📄 Step 2: Talk to a Loan Officer

This is your financial wingman. A loan officer can help you:

• Understand what loan amount you qualify for
• Break down monthly payments before you commit
• Avoid sketchy dealer financing traps (because yes, they exist)

You’ll walk away with a better idea of your budget — and a whole lot more confidence.

📝 Step 3: Ask About the Process

Don’t wait until you’re staring at a 7-page contract in the dealership office.
Ask questions early so you’re not surprised later.

What documents will I need?
What’s the interest rate range based on my credit?
Are there penalties for early repayment?
Can I bring a pre-approval to the dealer?

Knowing these answers ahead of time keeps you in the driver’s seat (literally and financially).

🎯 Final Thought: A Little Prep Goes a Long Way

Car buying doesn’t have to be confusing.
In fact, a few simple steps before you start shopping can save you thousands and make you a dealer’s least favorite kind of buyer: the prepared kind.

So before you test drive anything —
📞 Call your bank.
💬 Talk to a loan officer.
✅ Know your numbers.

Because the real power move isn’t just driving off the lot.

It’s doing it with a deal that you controlled.

Click here to down-load, the getting pre-approved checklist.

Let’s be real — buying a car isn’t just a shopping trip. It’s an epic quest filled with high-stakes decisions, mysterious codes (hello, VIN), and negotiations that can feel like you’re on an episode of Shark Tank. And if you’re not prepared? You might walk away with a shiny regret that drains your bank account every month.

So before you sprint into the dealership with a heart full of dreams and a credit score ready to commit, do your homework. A little time behind the screen now can save you thousands of dollars — and a whole lot of “Why did I do this to myself?” later.

🧠 1. Get Friendly With the Big Dogs: Kelley Blue Book, Edmunds, and More

These sites are your car-buying BFFs. They tell you:

• What the car should cost
• What people in your area are actually paying
• How much it’ll be worth in five years (aka your future trade-in reality)

Bonus: They also highlight trim levels, options, and whether that upgraded sound system is worth it or just extra bragging rights.

⚠️ 2. Know Your Car’s Dirty Little Secrets

Every car has a past — and some of them are messier than others. Jump online and search for:

• Common mechanical issues or recalls
• Cost of typical repairs
• Horror stories from owners who now cry every time they see their dashboard

It’s not just about avoiding lemons. It’s about understanding what kind of relationship you’re signing up for.

💸 3. Total Cost = More Than Sticker Price

Buying the car is just the beginning. You also need to consider:

• Insurance: A sports car may look cute until your premiums punch you in the gut.
• Gas mileage: Are you driving a budget-friendly commuter or a gas-guzzling diva?
• Registration and taxes: Surprise fees = sad wallet.
• Maintenance and parts: Will an oil change cost $40 or $400?

Knowing all of this in advance turns you into a sensible buyer — aka the dealership’s least favorite customer and your future self’s hero.

💬 4. Read the Reviews — Especially the Angry Ones

Everyone loves their new car on Day One. But read what people are saying at Year Two or Three. Those brutal, honest reviews from frustrated owners can shine a light on long-term headaches.

And if 20 people say the air conditioner breaks at 45,000 miles? That’s a pattern — not a coincidence.

🏁 Final Word: Be the Expert in the Room

By the time you walk into the dealership, you should know:

• The exact model you want
• Its market value
• Its weaknesses
• Its ownership costs
• And how to spot sales fluff a mile away

The goal: You know more about the car than the salesperson. Not because you’re trying to one-up anyone — but because your wallet, your future, and your peace of mind are on the line..

Click here to down-load the budget check list.

Ford just dropped eight recalls in one day, affecting tens of thousands of vehicles going back to 2020. If that sounds like a lot, it is. What’s even more concerning? Most of these recalls are fixes for problems that were supposed to be fixed in previous recalls.

The good news? No stop-use notices were issued, so these aren’t major safety threats. But if your Ford or Lincoln is on the list, it’s worth scheduling a visit to your dealer to get things checked out. Let’s break down the biggest issues.

Maverick Pickup: Multiple Recalls for the Same Issues

The Ford Maverick was hit hard, with five separate recalls, most of which involve repeating past fixes that weren’t done correctly.

• Instrument Cluster Issues (933 trucks, Aug 2021 – Oct 2023): Some trucks that previously got a recall fix didn’t receive the right software update, leaving the instrument cluster failing to display safety information.
• Brake Light Malfunction (141 trucks, Aug 2021 – Oct 2022): Brake lights may turn on without the driver pressing the brake pedal—a problem Ford was supposed to fix already but didn’t.
• Powertrain Control Module Update (2 trucks, Mar – Apr 2022): These trucks may not recognize a draining battery, failing to activate the alternator, which could lead to a dead battery while driving.

EV Recalls: Mustang Mach-E & F-150 Lightning Affected

Ford’s electric lineup isn’t immune from recall troubles:

• Mustang Mach-E (243 vehicles): High-voltage battery connectors weren’t properly fixed in a past recall, leading to overheating risks.
• F-150 Lightning (950 trucks, 2022-2024): Some battery cells may have a manufacturing defect, potentially causing a short. Ford advises owners to limit charging to 80% until the issue is resolved. If your truck is affected, Ford will replace the high-voltage battery for free.

Ecosport Crossover: Rollaway Risk

The biggest recall affects the Ecosport, covering models built between April 2021 and July 2022.

• Issue: Front axle shafts may be improperly installed, causing the car to roll away even when in park.
• Fix: Ford will inspect and replace halfshafts if necessary.

Hybrid Powertrain Issues: Maverick, Escape, Corsair

• 207 vehicles (across the Maverick Hybrid, Escape Hybrid, and Lincoln Corsair Hybrid) may shift into neutral unexpectedly due to a faulty Hybrid Powertrain Control Module update from a previous recall.

Trailer Brake Issue: Over 10,000 Trucks & SUVs Affected

• A faulty trailer brake controller module could prevent towed trailers from braking when the vehicle does.
• Affects over 10,000 Ford and Lincoln light trucks/SUVs from 2021 and 2022.
• Fix: Ford will provide a free software update.

Final Thoughts: Ford, Please Get It Right the First Time

If Ford had properly fixed these issues in past recalls, this list would be three recalls instead of eight. Instead, thousands of owners now have to make a second (or even third) trip to the dealer.

If you own a Ford or Lincoln, check your VIN against the recall list and get your vehicle inspected. Hopefully, this time, Ford gets the fixes right.

President Donald Trump’s one-month exemption from 25% tariffs on vehicles and auto parts imported from Mexico and Canada isn’t enough time for automakers to adapt to the ongoing trade war.

After speaking with Ford, General Motors, and Stellantis, Trump granted the temporary reprieve under the USMCA trade agreement—but experts say automakers can’t shift production quickly enough to avoid disruptions.

Why Automakers Are Struggling

• Complex Supply Chains – Moving production is difficult, especially for companies that depend on global suppliers for key components.
• Factory Relocation Takes Time – Automakers can’t build new plants or reconfigure supply chains overnight.
• Past Disruptions Show the Challenge – Trade policy changes, labor strikes, and the COVID-19 pandemic have all slowed production in recent years.

“Shifting production to the U.S. isn’t something that happens quickly,” said John Paul MacDuffie, a management professor at the University of Pennsylvania.

Industry Response

Despite the challenges, Ford, GM, and Stellantis expressed appreciation for the temporary exemption.

• Ford: “We will continue to have a healthy and candid dialogue with the administration.”
• GM & Stellantis: Thanked Trump for the short-term relief.
• American Automotive Policy Council: Praised the exemption for USMCA-compliant vehicles and parts.

Bigger Problems Ahead

Even with the one-month delay, other tariffs are still set to take effect soon:

• March 12: Steel and aluminum tariffs will increase costs.
• April 2: Broad “reciprocal” tariffs will match import taxes set by other countries, potentially hitting automakers hard.

What This Means for Car Buyers

Higher tariffs could force automakers to increase prices, reduce production, or delay investments. If manufacturers can’t adjust quickly, consumers may see:

• Higher vehicle prices due to rising costs.
• Fewer new car options as companies cut production.
• More demand for used cars as buyers avoid price hikes.

“The uncertainty in the auto industry is holding back investment,” said Brett House, professor at Columbia University. “Companies don’t know what the future holds.”

With time running out, automakers face tough decisions—and consumers may feel the impact sooner than expected.

When the Federal Reserve lowers interest rates, it impacts everything from checking and savings accounts to mortgages, loans, and credit cards. Here’s a simple breakdown of what it means for you.

Checking & Savings Accounts

💰 Checking Accounts
Most checking accounts already offer very low interest—often just pennies on the dollar. Since these accounts focus on convenience rather than growth, any decrease in rates is barely noticeable.

💰 Savings Accounts
Standard savings accounts don’t pay much either, with the average rate under 0.41% and falling. However, high-yield savings accounts, which had been paying 4-5%, are now closer to 4% or less.

👉 Takeaway: Shopping around for the best rates can help maximize your savings.

💰 Money Market Accounts
If you’re keeping $10,000 or more on hand, a regular money market account pays around 0.64%—not great.

A high-yield money market account, on the other hand, can still offer around 4%, making it a much better option.

What Lower Rates Mean for CDs

📉 Certificates of Deposit (CDs)
CD rates have slightly declined, but they remain relatively strong. The average 12-month CD pays 1.82%, though better deals are available if you’re willing to shop around.

👉 Takeaway: If you’re locking in a CD, consider a shorter term so you can take advantage of better rates later.

Impact on Mortgages & Personal Loans

🏡 Mortgage Rates
Surprisingly, mortgage rates haven’t dropped much despite Fed rate cuts. In fact, they even rose after the first Fed rate cut in September.

🔹 Current mortgage rates are still hovering around 7%.
🔹 Experts predict rates will stay in the 6-7% range through 2025.

Why? Mortgage rates are more influenced by the bond market than by the Fed’s decisions. A weaker economy or recession fears could push rates lower, but no one wants that.

💳 Personal Loans
Interest rates for personal loans have been around 12% for over a year. They were 9.5% from 2020 to 2022, so it may take time for them to return to lower levels.

👉 Takeaway: Lower Fed rates won’t immediately bring down mortgage or personal loan rates.

Credit Cards: Where You Might Feel the Most Relief

📉 Credit Card Interest Rates
Credit card rates have skyrocketed from 15% in 2021 to over 21% in 2024. While we don’t have post-rate-cut data yet, this is one area where consumers should start seeing relief soon.

👉 Yahoo Finance Tip: If you’ve been making regular payments and your credit score has improved, call your credit card provider and ask for a lower interest rate—it often works!

How Lower Interest Rates Affect Investments

📈 Stock Market
Fed rate cuts can influence stock prices, but they’re just one piece of the puzzle. Investors should also watch for economic trends and corporate profits.

💡 Long-term investors may want to focus on high-quality stocks that perform well in all market conditions.

Final Thoughts

Lower interest rates affect how much you earn on savings and how much you pay on loans. While mortgage and loan rates may take time to adjust, credit card users could see faster relief.