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https://www.barrons.com/articles/how-does-the-fed-rate-hike-affect-me-51658874056

For Siraj Syed, moving to North Carolina for a new job late last year meant one thing for sure: His 2009 Toyota Corolla had to go because it could have given up at any time.

He had his heart set on a BMW M3 but it had a price tag of $100,000 and the wait time was six months. So in April, he drove home a BMW 3 Series, taking out a six-year auto loan for more than $65,000. With an interest rate of 7.49%, he will pay more than $16,000 in interest alone.

For Siraj Syed, moving to North Carolina for a new job late last year meant one thing for sure: His 2009 Toyota Corolla had to go because it could have given up at any time.

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