Why your U.S. passport may be useless, Best time of year to buy tires

June 26, 2024 | Read Online

Looking to purchase an EV? Find out later in this email if you should consider a used EV.

💵 Today’s Top Stories

Why Your Current Passport Could Be Useless

Did you know that non-expired passports can still be invalid when you travel to other countries? Here’s what you need to do before you book travel. Read more.

When Is the Best Time of Year To Buy Tires?

A set of new tires can wreak havoc on your monthly budget. When is the best time to buy them? And how can you ensure that you get the best possible deal? Read more.

7 Easy Ways To Lower Your Cell Phone Bill

Are you paying too much for cell phone service? You may be able to cut your cell phone bill in half by following these tips. (We dare you to try No. 6.) Read more.

Can YouMail Really Put an End to Robocalls?

This free plan claims to stop spam and robocalls. Does it do what it’s supposed to? And is it worth upgrading to any of the paid plans? Read more.

📣 Today’s Top News

🚘️ Used EVs Are Fantastic Deals Right Now

Used electric vehicles cost less on average than used gas engine cars. That’s borderline shocking.

Consider that used EVs were more than $8,000 more expensive than used gas engine vehicles as of June 2023. Just 11 months later, used EVs were $2,657 cheaper than the average used gas car.

Used EV values have dropped nearly 40% in the last year.

For a more specific example, iSeeCars compared compact luxury sedans from BMW and Tesla. Both dropped in price in price from June 2023 to May 2024. But the Tesla dropped $7,441 more during the same time period.

Used Tesla Model 3

June 2023: $37,023
May 2024: $28,439

Used BMW 3 Series

June 2023: $34,388
May 2024: $33,245

Tesla in particular has slashed prices in an attempt to move inventory.

Car Dealership Guy wrote in his email newsletter: “While it may seem possible that used EV price declines stem from a demand shortfall, that doesn’t make sense given that sales of preowned electric cars have been skyrocketing. In fact, Cox Automotive’s wholesale platform, Manheim, expects to auction off three times the number of EVs it sold in 2023 by the end of this year.

Earlier this year, we identified five used electric vehicles selling for less than $25,000.

💸 Today’s Top Savings Rates

Check out our updated list of Clark.com-approved high-yield savings accounts with the highest rates. Here are the top five APYs on our list as of June 26, 2024.

See All Rates | High Yield Savings Accounts Calculator

📊 Stat of the Day

🎵 $1.27 billion: The money Sony paid to acquire Queen’s music, name, image and likeness. It’s the highest price ever paid for a band or musician’s catalog. Sony held the previous record ($600 million for 50% of Michael Jackson’s catalog and $550 million for Bruce Springsteen).

💰️ Deal Alert: Today’s Top Deals

🎙️ Podcast

YouTube video by Clark Howard: Save More, Spend Less

Full Show: How To Save $75,000 on Your Next Mortgage and the Secret Behind Temu’s Cheap Prices

The housing and mortgage markets are not our friend right now. But there’s one thing you can do that will save you more than $75,000 on average when buying a home. Also, how are Shein and Temu able to get prices so cheap? Clark explains how it works and if it’s worth your time to shop from those retailers.

Watch the Full Episode

☎️ Need Money Help?

The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.