Experts Share How To Buy A Car After Federal Interest Rate Hike

Car buyers are dealing with high interest rates as car makers continue to face supply chain issues.

This week’s interest rate hike means many hopeful car buyers are having to pump the brakes.

The Federal Reserve approved the largest interest rate hike in 30 years, hoping to slow inflation and speed up the economy. But it’s hitting consumers hard. 

"My colleagues and I are acutely aware that high inflation imposes significant hardship, especially on those least able to meet the higher costs of essentials like food, housing and transportation," said Jerome Powell, Federal Reserve chairman.