The report focuses on comparing insurance premiums for high-risk drivers, DUI laws, and penalties for various driving violations in the 50 states and the District of Columbia.
And since many consumers will be driving a new car off the dealer’s lot on Labor Day, WalletHub also analyzed auto loan and lease offers from more than 150 financiers to help consumers find the best car deals.
Below are some of the key findings:
High-risk drivers report
Strictest states on high-risk drivers
Most lenient states on high-risk drivers
District of Columbia
Auto financing report
Interest rates for new cars are close to reaching their lowest point in the past three years, with the average new-car loan now charging 19 percent less interest than the average used-car loan.
Overall, buyers with fair credit will end up spending about six times more to finance a vehicle – about $6,100 in additional interest payments over the life of a $20,000, five-year loan – than consumers with excellent credit.
People in the market for a new car should begin their search for financing with car manufacturers, rates at 61 percent below average, and credit unions, at 30 percent below average. Secondary options include national banks, at 10 percent above average, and regional banks, at 43 percent above average.
Car manufacturers continue to lack transparency when it comes to leasing offers, with the average auto maker receiving a WalletHub Transparency Score of 4/10.
Copyright 2015, Rita R. Robison, Consumer Specialist
Mass merchandisers need to improve how they treat customers who shop for households with children under 18, if they want repeat business from them.
A nationwide survey of 2,500 U.S. consumers shows that efficient service, more than price or product availability, is the stronger driver of store loyalty and repeat purchase decisions for shoppers at mass merchandise stores such as Walmart, Target, and Staples, according to a survey by LoyaltyOne, a company specializing in loyalty programs, and the Verde Group, a research organization.
The average American family with children in grades K-12 plans to spend $630 on electronics, apparel, and other school needs, down from $669 last year, according to the National Retail Federation’s Back-to-School Spending Survey for 2015.
Bimbo Bakeries USA has initiated a regional recall of bread products under the Sara Lee, Kroger, Bimbo, Nature’s Harvest, Great Value, and L’Oven Fresh brands due to the possible presence of fragments of glass caused by a broken light bulb at one of its bakeries.
Recalled products are the fresh bread products listed below with best by date, UPC code, and Bakery Code 1658 that were bought in the states listed below. The best By date can be found on the lower front/top third of the bag, the bakery code is to the left of the best by date. The UPC code can be found in the bottom right corner on the back/bottom of the bag.
The company announced the recall after receiving three consumer reports of small pieces of glass found on the outside of the bread. There are no reports of injury.
Ninety-five years ago today, after decades of struggle and advocacy, women finally won the right to vote with the certification of the 19th Amendment.
”It took just over a year after Congress approved the 19th Amendment for the required two-thirds of states to ratify the amendment and grant women’s right to vote in our constitution,” Elisabeth MacNamara, president, U.S. League of Women Voters, said in an email.
During this final push, Carrie Chapman Catt, leader of the National American Woman Suffrage Association, founded the League of Women Voters to “finish the fight,” and educate millions of women about the power of their votes, MacNamara said.
Ever wonder how much it costs to ship all the stuff we buy around the country?
More than $1,100 of the cost of the goods and services households buy annually goes to pay for the fuel used to transport them.
“When it comes to goods and services, the American consumer really does ‘pay the freight,’” said Jack Gillis, author of “The Car Book” and spokesman for the Consumer Federation of America. “From a household energy expense perspective, the amount consumers pay for truck fuel is almost as much as they spend for home electricity and about half of what a typical household pays for gasoline.”
The fluids used for hydraulic fracturing in California oil wells contain dozens of hazardous chemicals linked to cancer, hormone disruption, and reproductive system damage, according to a new report by the Environmental Working Group.
In the analysis, “California’s Toxic Fracking Fluids: The Chemical Recipe,” the EWG deconstructs drilling companies’ use of 200 unique chemicals in nearly 700 wells across the state, with each company deploying around two dozen chemicals. These chemicals have the potential to contaminate drinking water, air, and soil and to harm human health, the EWG said.
“Fracking is inherently problematic because of the chemicals used in the fluid,” said Tasha Stoiber, EWG senior scientist and report co-author.
Baer, who’s loving the last days of summer, tells us about her adventure tasting tomatoes.
Other boomer bloggers write about the dangers of the new prescription drug for low sex drive in women, Addyi; life in a new solar home in the Colorado clouds; and how much you can learn in the safe driving course to save 10 percent on your insurance.
Spend a few minutes visiting our boomers and have a great week.
Copyright 2015, Rita R. Robison, Consumer Specialist