A new report reveals that over 28% of car trade-ins in the US are underwater, with the average debt exceeding the car's value at $6,905, driven by rising interest rates, extended loan terms, and falling car values, indicating a worsening financial situation for American car buyers.
The annual Hagerty Bull Market list for collector cars in 2023 has been released, featuring ten vehicles that are expected to appreciate in value. The list includes the Lamborghini Countach 25th Anniversary, Chrysler Town & Country, BMW M3 (E9x), Mitsubishi Pajero Evolution, Ferrari FF, Jaguar XKR, Chevrolet Impala, Jeep CJ-8 Scrambler, Ford Thunderbird, and Chrysler Prowler. The list highlights the growing interest in older classics, the appeal of Japanese Domestic Market cars, and the preference for powerful engines and convertibles. It also notes the potential for unpopular cars from the past to gain popularity as collector items.