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ABC Apologizes After Claudia Long Fabricates False Claims About Two High-Profile Politicians

The ABC has offered a humble apology following an erroneous accusation made by one of its reporters who falsely implicated two Nationals MPs for neglecting their constituencies during critical times when people are facing life-threatening situations. Claudia Long, the political correspondent for the national broadcaster, stated on "Insiders" last Sunday that National Party members of parliament were absent from their constituencies when the decision was made to dissolve the Coalition. "I believe another crucial aspect for regional areas is having a local representative present during times of crisis, such as floods where lives are lost—this situation occurred earlier this week," she explained to the show. Long particularly mentioned two individuals who perished in the flooding waters within Alison Penfold's potential electorate of Lyne on the Mid-North Coast. Additionally, he pointed out another fatality in Pat Conaghan’s constituency of Cowper, where...
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Average New Car Cost Hits Nearly $50,000: See Your Monthly Payment

The cost of purchasing a new vehicle is rising steadily.

In fact, a record number of new-car buyers — nearly 1 in 5 — are making payments of $1,000 or more, according to Edmunds For a family with an average U.S. income of $80,610, a monthly car payment of $1,000 would consume 15% of their pretax earnings, not including expenses like insurance, fuel, or upkeep.

It isn't helpful that the typical cost of a new car is nearly $50,000 And prices might rise further still. With the impending threat of 25% tariffs On vehicles and parts coming from Mexico and Canada, the price of a new car might increase by up to 12%, which equates to approximately $5,790. according to one estimate .

With prices at near-record highs and potential tariffs looming, buying a new car has never been more expensive. But factors that you have more control over, like your credit score, loan terms and down payment, also impact your monthly payments. Here's a look at how to make a new car fit your budget.

Begin by examining your credit score.

How much your monthly car payment costs often comes down to one key factor: your credit score.

Even though you cannot control car prices, you have an impact on your credit score, which significantly affects how much you will end up paying for a loan as lenders rely on this score to set your interest rates. A poor versus a good credit rating could cost you several thousand dollars extra in lending fees.

Suppose you're paying for a new car through finance. average price of $48,641 With a 15% initial payment and a standard 60-month financing period, your monthly installments might vary between approximately $824 and $1,037, contingent upon various factors. FICO credit score .

Here's a look at how various credit scores affect monthly payments and interest rates, based on the loan terms above, according to FICO:

  • 720-850: $824 (7.25% APR)
  • 690-719: $847 (8.45% APR)
  • 660-689: $883 (10.22% APR)
  • 620-659: $927 (12.33% APR)
  • 590-619: $1,019 (16.62% APR)
  • 500-589: $1,037 (17.43% APR)

Over the life of the loan, someone with excellent credit would pay $8,071 in interest, while someone with poor credit could pay $20,886 — a difference of nearly $13,000.

You can often lower your monthly payments by extending the term, but remember that you'd be paying more on interest over the course of the loan. If you have the savings, you can also lower the monthly payments with a larger down payment.

Methods for Reducing Loan Expenses

Boosting your credit score prior to taking out a loan can decrease your interest rate and help you save potentially thousands of dollars throughout the duration of the loan.

To achieve this, begin by ensuring that you consistently make your debt payments on schedule, as payment history makes up a significant portion of your credit score. 35 percent of your credit score .

Additional methods to enhance your credit score encompass:

  • Using only a portion of your accessible credit – referred to as your credit utilization ratio
  • Steer clear of new credit checks before you apply for a loan.
  • Reviewing your credit report for inaccuracies disputing inaccuracies

Purchasing a pre-owned vehicle is an alternative method to lower expenses . Used vehicles not only have lower sticker prices but also typically come with lower insurance costs and less depreciation.

How to estimate your monthly auto loan costs

Before committing to a purchase, it's smart to have an idea of what your estimated monthly payments will be based on loan terms and interest rates.

Nation Daily NewsMake It's loan calculator can help you see how financing costs add up. Keep in mind that you'll need to manually input an estimated interest rate based on your credit score, as listed above.

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Plus, Sign up for The Nation Daily News' newsletter. To acquire advice and strategies for achieving success at your job, managing finances, and navigating everyday life.

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