EV Tax Credits Can Now Be Down Payments
Federal guidance says that starting Jan. 1, consumers can transfer them to dealers instead of waiting till tax time.
Federal guidance says that starting Jan. 1, consumers can transfer them to dealers instead of waiting till tax time.
Consumers paying more and more as interest rates stretch costs to new highs.
Report shows car loan amounts, down payments rising along with interest rates.
According to the U.S. Attorney’s Office, Hallman Chevrolet falsified loan documents as well as costume jewelry brought in by customers as collateral for purported down payments over a six-year period beginning in 2009. The dealer, David Hallman, accepted responsibility for the scheme and agreed to pay a $1.4 million fine and more than $737,000 in restitution to end federal prosecution.
Car buyers are putting down $504 more on a new-vehicle purchase than they did five years ago. But with buyers purchasing pricier cars and interest rates on the rise, something has to give, Edmunds.com analysis said.
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