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Author: Susan Tompor, Detroit Free Press

Money

What extra fees can you face when buying a car?

August 9, 2023Susan Tompor, Detroit Free PressComments Off on What extra fees can you face when buying a car?

Consumers compare sticker prices, look for rebates and shop for car loan rates. But many aren’t prepared to deal with add-on options and extra fees.

Money

Interest Rates: Will the Federal Reserve pause, hike, then pause again?

July 24, 2023Susan Tompor, Detroit Free PressComments Off on Interest Rates: Will the Federal Reserve pause, hike, then pause again?

Inflation cooled considerably from last June through June this year. But the Fed might raise rates in July to keep driving inflation down further.

News

Forced to retire at 60, this firefighter’s finances took a big hit — like so many others

July 19, 2023July 19, 2023Susan Tompor, Detroit Free PressComments Off on Forced to retire at 60, this firefighter’s finances took a big hit — like so many others

Martin Rucker became a Detroit firefighter in hopes of getting a full pension. But the city’s bankruptcy left him with financial challenges.

Money

How interest rates on even the best credit card offers can zoom from 0% to 30%

July 16, 2023Susan Tompor, Detroit Free PressComments Off on How interest rates on even the best credit card offers can zoom from 0% to 30%

Credit card with 0% rates are still marketed, even as many APRs of 20% to 30% flourish. What consumers need to know about getting a low rate.

Money

You may soon get an IRS letter promising unclaimed tax refunds. It’s a scam.

July 5, 2023Susan Tompor, Detroit Free PressComments Off on You may soon get an IRS letter promising unclaimed tax refunds. It’s a scam.

Scammers are sending unusual tax-related letters this summer, including one that IRS warns will boldly ask for a picture of your driver’s license.

Money

How much is my car worth? Maybe less now, as used car values plummet with economic slump

June 21, 2023Susan Tompor, Detroit Free PressComments Off on How much is my car worth? Maybe less now, as used car values plummet with economic slump

Consumers increasingly could run into something a new report calls “negative equity” as they try to trade in cars bought after pandemic pricing hit.

Money

Your car may be worth a lot less than you owe. Here’s why trading it in could be harder.

June 21, 2023Susan Tompor, Detroit Free PressComments Off on Your car may be worth a lot less than you owe. Here’s why trading it in could be harder.

Car buyers could increasingly run into something called “negative equity” as they try to trade in vehicles bought after pandemic pricing hit.

Money

Fake savings bond scheme leads to $50M in losses and issues for legitimate savers

June 19, 2023Susan Tompor, Detroit Free PressComments Off on Fake savings bond scheme leads to $50M in losses and issues for legitimate savers

Savers are shocked that some banks and credit unions changed the rules when it comes to cashing savings bonds. The reason? An uptick in phony bonds.

Money

Taylor Swift ticket scams are breaking fans’ hearts: How to verify tickets are real

June 18, 2023Susan Tompor, Detroit Free PressComments Off on Taylor Swift ticket scams are breaking fans’ hearts: How to verify tickets are real

Watchdogs warn that scammers selling tickets to Taylor Swift concerts and other events are crafty.

Money

That job or apartment listing may not be legitimate: How to watch for job and rental scams

June 18, 2023Susan Tompor, Detroit Free PressComments Off on That job or apartment listing may not be legitimate: How to watch for job and rental scams

Consumers who are looking for a place to live or a job are besieged by fake ads, phony texts and bad emails. Red flag: No one can meet you.

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