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California man owes $2,800 a month on cars he bought to drive for Uber. Dave Ramsey says he was working for free
Yahoo Finance· 2025-11-19 18:30
Core Insights - The gig economy, while providing income for many American workers, often leads to unsustainable financial situations for individuals relying on it as their primary source of income [1] Group 1: Financial Decisions and Consequences - A 29-year-old individual financed a Honda CRV for $60,000 to drive for Uber, expecting to pay it off with earnings that initially reached $2,700 per week [2] - Earnings significantly decreased after changes to Uber's eco-friendly program, leading to further financial strain when a second vehicle, an Acura MDX, was financed for $30,000 with a loan of $54,000 to qualify for UberXL [2][3] - The individual is now working a different job earning $22 per hour, struggling with car payments of $2,800 per month, and facing a declining credit score [3] Group 2: Expert Advice and Warnings - Financial expert Dave Ramsey criticized the individual's lack of understanding regarding the true costs associated with driving for Uber, stating that the individual effectively worked for free after accounting for vehicle-related expenses [4] - Ramsey advised the individual to consider selling one of the financed cars to avoid potential bankruptcy, warning that repossession would lead to further financial liabilities due to the vehicles selling for significantly less than expected [5]
Auto safety regulators probe 1.4M Honda and Acura vehicles over engine failures
New York Post· 2025-08-25 20:26
Core Points - The National Highway Traffic Safety Administration (NHTSA) has initiated a probe into over 1.4 million Honda and Acura vehicles due to engine failure risks, following hundreds of driver reports [1][2] - The recall affects approximately 1,410,806 vehicles, including specific models from 2016 to 2020 [1][4] - The investigation was prompted by 414 reports of engine failures linked to faulty connecting rod bearings, which hold the crankshaft and connecting rod in place [1][2] Vehicle Models Affected - The affected models include: - 2018-2020 Acura TLX - 2016-2020 Acura MDX - 2016-2020 Honda Pilot - 2018-2020 Honda Odyssey - 2017-2019 Honda Ridgeline [4] Investigation Details - The NHTSA previously closed an investigation after determining that the engine failures were not due to the same manufacturing defect identified in Honda's 2023 recall [6] - The new probe aims to evaluate the scope and severity of the engine failure issue and assess potential safety-related concerns [6]
20 Years of Cars.com's American-Made Index: 2025 Results
Prnewswire· 2025-06-17 11:30
Core Insights - Tesla continues to dominate the 2025 American-Made Index, holding the top four positions with the Model 3, Model Y, Model S, and Model X, marking its second consecutive year at the top since its debut in 2020 [1][3] - The Jeep Gladiator ranks fifth, making it the highest-ranked American-made pickup truck [1] - The index reflects a significant shift in consumer preferences, with 51% of shoppers influenced by tariffs to seek American-made vehicles, and 73% considering American-built vehicles to avoid additional costs [4][5] Automaker Performance - Honda's Alabama facility produces five of the top 20 vehicles, showcasing its consistency and scale in the market [2] - GM remains a dominant player with the most vehicles represented in the index, while Kia and Volkswagen also contribute with their respective models [2] - The index includes vehicles from 36 factories across the U.S., with a notable concentration in the South and Midwest, highlighting the geographic distribution of auto manufacturing [6][7] Economic Impact - The 2025 AMI emphasizes the economic significance of domestic production, with automaker investments creating jobs and generating tax revenue for local economies [8] - The average domestic parts content of the top 10 vehicles has decreased from 83.4% in 2006 to 70.3% today, indicating the increasing complexity and global integration of auto manufacturing [9] Methodology - The American-Made Index ranks vehicles based on assembly location, parts sourcing, U.S. factory employment, engine sourcing, and transmission sourcing, providing a comprehensive view of the automotive landscape [10]