Higher borrowing costs are landing on car buyers already stretched by rising prices at the grocery store and the gas pump. On today’s edition of CBT Live, Dan Varroney, Economic Growth Strategist, Author and Founder and CEO of Potomac Core, broke down what the first rate hike in more than three years by the Federal Reserve means for dealers. Sign up for CBT News’ daily newsletter and get the latest industry stories delivered straight to your inbox. The quarter-point increase will likely not change payments for buyers with fixed-rate car loans, Varonney said, but it could push shoppers facing average payments above $700 a month toward smaller or used vehicles…
