When we saw this story we couldn't believe it, so we had to call on our personal finance expert, Joel Larsgaard, host of 'How To Money' here on KFI Sundays 12-2pm to talk about it.
According to Edmunds, the share of people who are purchasing cars and making a car payment OF $1,0000 OR MORE jumped to a record high. In the last quarter of 2022, 15% of consumers who financed a car committed to a monthly payment of $1000 or MORE. That's the highest level on record.
Why, oh why would you do that to yourself people? Check out what Joel had to say about it with Jennifer below.
Follow Joel on Twitter @HowToMoneyJoel