Why Car Payments Are Skyrocketing in 2024 [Yahoo! Finance]
Big Lots, Inc. (BIG)
Last big lots, inc. earnings: 2/27 04:05 pm
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Source: Yahoo! Finance
In fact, as CNBC reported, the average car payment grew from $535 in May 2019 to $760 in May 2024 — a 40% increase. Read Next: 5 Car Brands With the Most Reliable Engines Find Out: 5 Unusual Ways To Make Extra Money (That Actually Work) Here are three reasons car payments have significantly increased High Prices One of the primary reasons for the increase in car payments is simply higher car prices. Over the past few years, there has been a steady rise in vehicle costs, with some popular models seeing an average increase of 19% or more within the past five years. The global supply chain crisis during the COVID-19 pandemic is a leading cause of the price increase for many vehicles. Factories were shut down, placing production behind. When operations opened back up, essential components, like semiconductors — which are necessary for modern vehicles — became increasingly scarce. Due to the limited supply and high demand, dealers didn't need to offer special incentives to cu
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BIG
Earnings
- 6/6/24 - Miss
BIG
Sec Filings
- 6/25/24 - Form 11-K
- 6/13/24 - Form 10-Q
- 6/11/24 - Form 8-K
- BIG's page on the SEC website