Current Events in February 2024

The latest Consumer Price Index (CPI) showed new car prices were flat – not going up or down. But the price you pay all depends on the kind of car you are buying.

Dealers are more flexible on some models than others. Right now, they are ready to make a deal on an electric vehicle.

While industry data show that the average new car is still selling for about 7.2% above the manufacturer's suggested retail price (MSRP), some electric vehicles and hybrids are selling well below the sticker price.

For example, For instance, the Hyundai Ioniq 5 and Kia EV6 are selling at discounts of 1.9% and 2.5% lower than their MSRPs on average, according to AutoSpies.com. The Hyundai Kona Electric is also being sold at a significant discount, with prices 4.6% below MSRP.

However, if you’re looking as a gasoline-powered vehicle, don’t expect much of a discount. Some models like the Toyota Corolla Cross Hybrid and Ford Maverick pickup are selling at nearly 20% over MSRP, according to Torque News.

There may be no better time to buy

The sight of EVs running out of juice while waiting at charging stations in January's subfreezing temperatures in Chicago may have caused some car shoppers to have second thoughts about EVs. However, consumers inclined to purchase an EV may not find a better time than now to do so.

That said, market conditions are dynamic and prices can fluctuate due to factors such as eligibility for federal tax credits, changes in regulations, and the costs of batteries and raw materials. But EV prices may continue to slide as the average price of used cars, both EVs and gasoline-powered, continue to fall.

Cox Automotive reports wholesale used-vehicle prices fell 0.9% from January in the first 15 days of February. The midmonth Manheim Used Vehicle Value Index dropped to 202.1, which was down 13.8% from the full month of February 2023. 

As for retail used car prices, the January CPI shows prices plunged 3.4% from December and were down 3.5% year-over-year.

Husqvarna Professional Products of Charlotte, N.C., is recalling about 430,000 gas-powered grass trimmers sold in the U S. And Canada.

Incorrect wiring in the ignition module on the grass trimmers can cause an electrical spark or arcing, posing a fire hazard if gas is on or near the unit.

The firm has received 12 reports of the recalled grass trimmers catching fire, electrical sparks or arcing, including two reports of property damage and one report of a consumer who suffered leg and arm burns.

This recall involves gas-powered Husqvarna Grass Trimmers, model numbers 330LK, 130C and 130L.

The trimmers are orange and gray. "Husqvarna" with model printed on the motor housing and the SKU number printed on the serial number tag on the bottom side of the motor housing.

A list of the SKU numbers included in this recall may be found here.

The grass trimmers, manufactured in the U.S., were sold at Husqvarna dealers, Lowe's, Tractor Supply, and other home and garden stores nationwide and online at Amazon.com from October 2021, through November 2023, for between $250 and $300.

What to do

Consumers should immediately stop using the recalled grass trimmers and contact an authorized Husqvarna dealer to receive a free repair. The dealer locator is available at https://locations.husqvarna.com/us/.

Consumers may contact Husqvarna toll-free at (877) 257-6921 from 8 a.m. to 7 p.m. (ET), Monday through Friday, by email at recalls@husqvarnagroup.com or online at www.husqvarna.com/us/recall or https://www.husqvarna.com/us/discover/news-and-media/grass-trimmer-recall/ for more information.

Ford Motor Company is recalling 16,543 model year 2021-2022 E-350s and E-450s with dual rear wheels.

An inadequate connection between the power steering pressure line and the brake hydroboost unit may result in a sudden loss of power steering fluid.

A sudden loss of power steering fluid can result in a loss of power steering and power brake assist, increasing the risk of a crash.

What to do

Dealers will replace the power steering pressure line and the hydroboost jumper line free of charge.

Vehicles that were recalled in early 2022 will need to have the new remedy completed even if their vehicle was remedied under a previous recall.

Letters to owners notifying them of this recall are expected to be mailed March 25, 2024.

Owners may contact Ford customer service at (866) 436-7332. Ford's number for this recall is 24S07.

You’ve probably seen signs outside stores for “Kratom”. Some of these stores are head shops, some vape shops, and some convenience stores. You, no doubt like millions of other passersby, have asked yourself what in the heck is Kratom?

Well, it’s a plant native to Southeast Asia and traditionally, its leaves have been used as medicine for various ailments ranging from opioid withdrawal, appetite suppression, insomnia, anxiety, depression, ADHD, fatigue, managing coughs, diarrhea and improving energy levels. 

If and when it works in those situations could be a good thing. However, it has its downsides.

It can be addictive, it can be fatal and its unregulated use has gotten to the point where states are starting to add their own regulations, because there is no scientific evidence to support its safety or efficacy for pain treatment. Not to mention that a convenience store is the last place a product touted as being able to help with depression or opioid withdrawal should be sold.

In Florida, the legislature is considering a bill that would ban the sale of adulterated Kratom products, require safety labels and dosage outlines, and prohibit any claims that the product can treat or cure medical conditions.

Similar regulatory efforts are underway in Kentucky, where a bill has been unanimously supported by a state House committee to increase regulation of Kratom, including limiting sales to those over 21 and requiring product labels to state that Kratom is not intended to treat medical conditions.

Then, there’s the U.S. Food and Drug Administration (FDA). It's been a few years since the federal agency barged into the Kratom boardroom in a rage, but it probably will with all that's going on.

After all, it does have oversight responsibilities for dietary supplements – including Kratom – and there are calls for the FDA to enforce labeling requirements and potentially limit the potency of active ingredients in Kratom-related products.

The risks you run

Before you delve into the nation of Kratomcome, you might want to first consider all the potential side effects: Even at low doses, kratom can cause undesirable side effects like nausea, constipation, anxiety, and insomnia. At higher doses, risks include seizures, liver damage, and psychosis.

Then there’s the interaction with other substances where the reactions can spike even higher.

It’s a complex picture, but if the states and the FDA get together, there might be a way to find a safe way for consumers to buy and use Kratom.

If you are considering using Kratom, it is essential to consult with a healthcare professional who can discuss the potential risks and benefits based on your situation.

Any of you forget to cancel the free trial you signed up for to watch Super Bowl LVIII? Might want to check your credit card bill because you may have cycled yourself into a month of a service that you probably won’t use.

And there’s a lot of you in this red zone, too.  Researchers at All About Cookies found that 70% of people forget to cancel their free trials. 

Nope, you’re not toast… yet. But you better get moving if you want to get back any of that first month’s service that you’re now being charged for.

The first thing you can try is to reach out to the company's customer service immediately and explain that you intended to cancel the trial before it ended.

Some – some – may be willing to refund the charge if you act quickly and haven't used the service beyond the trial period. But there will be those who are licking their chops over a month’s service fee and may not let you wiggle out completely without paying something.

The new game in town

The researchers have discovered that some Americans are trying to do an end-run around all the pay-to-play services by using a virtual private network (VPN) to stream live sports – a tactic that can be used to get around local blackouts while people accessing bootleg streams may use a VPN to reduce the risk that illicit streaming sites pose.

The service that bore the brunt of many of those cunning consumers was YouTube TV. An easy option is to rely on a free trial through YouTube TV and match their IP address to bypass local streaming blackouts.

The researchers said that there was a 190% increase in searches for consumers trying to get around the rules of “how to change your YouTube TV location” since the playoffs began. 

What to do

VPNs work, but just like setting up a new internet connection or wi-fi connection, it’s not as simple as most people think. The All About Cookies researchers said that if you want to stream content responsibly you should do these three things:

• Set yourself up with a VPN. VPNs are a recommended tool to keep yourself safe, no matter where you’re accessing your favorite shows and movies.

• Download anti-malware protection. As live/online streaming can make you vulnerable to internet and privacy issues, it’s important to look into anti-malware software for a more secure streaming experience.

• Keep your passwords secure. Be careful who you grant access to your streaming accounts. Password managers can offer smart features such as authorized credential cross-sharing and multi-factor authentication.

If you’d like to find out more about what VPNs do and review all the providers side-by-side, ConsumerAffairs has a guide that could put you on the right path. You can find it here. All About Cookies provides a guide that’s worth checking out, too.

Capital One is acquiring Discover Financial Services, in a deal that would expand the footprint of both credit card companies.

While a smaller player among credit card customers, Discover has its own payment network, which could be one reason Capital One pursued the deal. In the announcement of the deal, Capital One said it would move some of its credit cards to the Discover network.

Capital One founder and CEO Richard Fairbank believes the acquisition will provide a successful synergy.

“Our acquisition of Discover is a singular opportunity to bring together two very successful companies with complementary capabilities and franchises, and to build a payments network that can compete with the largest payments networks and payments companies," Fairbank said. "Through this combination, we're creating a company that is exceptionally well-positioned to create significant value for consumers, small businesses, merchants, and shareholders as technology continues to transform the payments and banking marketplace."

Different terms

Capital One and Discover credit cards have different terms and the announcement did not say whether Discover’s terms will stay intact. Maggie, of Winona, Minn., is one Discover cardholder who hopes Discover stays pretty much the same.

“I often find myself feeling unsatisfied with a lot of customer service experiences from companies…but every time I’ve contacted Discover I’ve had an amazing experience, always so helpful and nice I love it,” Maggie wrote in a ConsumerAffairs review. “I always feel understood and valued everytime I call and they seem like they genuinely care about their customers rather than just being there to solve your problem and hang up.”

Capital One said it plans to keep the Discover brand for current Discover accounts. Although it’s the smallest credit card company, Discover has a global payments network with 70 million merchant acceptance points in more than 200 countries and territories. 

The months-long trend of falling mortgage rates has come to an end, at least temporarily. After bottoming around 6.5%, Freddie Mac has reported a recent reversal.

"On the heels of consumer prices rising more than expected, mortgage rates increased last week,” said Sam Khater, Freddie Mac’s chief economist. “The economy has been performing well so far this year and rates may stay higher for longer, potentially slowing the spring homebuying season. According to our data, mortgage applications to buy a home so far in 2024 are down in more than half of all states compared to a year earlier.”

The 30-year fixed-rate mortgage averaged 6.77% as of February 15, 2024, up from the previous week when it averaged 6.64%. A year ago at this time, the 30-year rate averaged 6.32%.

The 15-year fixed-rate mortgage averaged 6.12%, up from the previous week when it averaged 5.90%. A year ago at this time, the 15-year rate averaged 5.51%.

Rising rates make it more difficult to find a house with an affordable mortgage payment. Lenders appear to have hiked rates in response to January’s hotter-than-expected Consumer Price Index (CPI), which means the Federal Reserve may keep rates higher for longer.

The jump in mortgage rates comes just as the spring homebuying season is set to get underway, timing that is bad for both buyers and sellers. But buyers may have some options.

What to do

If the seller is highly motivated, they may be willing to “buy down” the mortgage rates by “paying points” at closing. This was common practice in the 1980s and 1990s, when mortgage rates were high.

Most states offer some type of homebuying assistance. You can check your state here. Some of these programs offer down payment assistance, as well as educational resources to find the right loan.

In a rising interest rate environment, it also is critically important to shop around for the best mortgage with the best term. The best mortgage lenders offer a well-rounded approach for customers. 

Competitive interest rates and fees, a variety of mortgage products, a straightforward process, and wide availability are a few of the qualities most helpful to homebuyers and those who are refinancing.

ConsumerAffairs has a buyer’s guide to help home buyers find the best lenders with the best rates.

Hyundai Motor America is recalling 4,245 model year 2024 Palisades.

The engine valve springs may break while the vehicle is being driven, which can result in a loss of drive power and possibly create a hole in the engine block.

A loss of drive power increases the risk of a crash, while a hole in the engine block increases the risk of a fire.

What to do

Dealers will replace the engine sub-assembly free of charge.

Notification letters to owners are expected to be mailed April 13, 2024.

Owners may contact Hyundai customer service at (855) 371-9460. Hyundai's number for this recall is 255.

Southwest Airlines has launched a Spring Travel Sale, offering discounted flights starting as low as $49 one-way.

This sale is available for travel dates ranging from late February to late May 2024, with specific travel windows varying depending on the destination. The sale includes flights across Southwest's network, including domestic travel within the United States and to select international destinations such as Mexico and the Caribbean.

Key details of the sale include:

• Fares starting at $49 for one-way travel in the Wanna Get Away class, with higher fares for other classes such as Wanna Get Away Plus and Anytime fares

• Promotional Companion Pass offers, allowing travelers to bring a companion for just the cost of taxes and fees on flights booked during the sale period

• A requirement for a 21-day advance purchase

• Nonrefundable fares, with options for future Southwest credit in case of cancellation

• Blackout dates and restrictions on travel days, such as not being valid on Fridays and Sundays for continental U.S. travel

• Rapid Rewards Members can earn additional points on their travel, with some fares offering 8x the usual points

Winter travel continues to make sense for budget-conscious travelers

Is it snowing where you are? A little too cold for your bones? Scott Keyes from Going tells ConsumerAffairs that traveling in the off-season winter months can be just as good if not better than traveling during the peak summer season. 

Keyes says there are better – much better – fares, a la the Southwest sale. “Our data shows that, while there are slightly fewer deals that we send out during the winter months -- though not by much -- the average cost of those deals tends to be cheaper than deals that we send out during the summer,” he said.

“The stats can vary from year to year, but in general, we’ve found that winter deals are as much as 5% cheaper than summer deals.”

Plus, once you get into a destination, costs also tend to be cheaper during the off-season – as in tours, hotels and transportation services – and you’ll be less crowded!

“We know that not everyone can travel during the winter; for instance, families are often restricted to school breaks,” Keyes noted. “However, traveling even just slightly earlier or later in the peak season—like in late May, late August, or early September—can make a huge difference in how many people you’re up against for tickets and reservations.”

And the weather? Winter could be more optimal than the summer.

For those who’ve traveled to Europe in the summer know that it can be too hot in some places. Athens Greece and Rome Italy can get more brutally close to 90 degrees. The off seasons offer more moderate weather, like the mid-50s to 60s in Spain and Portugal.

You might walk into a store and are met with an aroma that triggers pleasant memories and takes you back to a “happy place.” Researchers have now concluded that experience can be harnessed to treat depression. 

In a study published in JAMA Network Open, researchers at the University of Pittsburgh School of Medicine (UPMC) and UPMC social workers suggest that smells are more effective than words at cueing up a memory of a specific event and could even be used in the clinical setting to help depressed individuals get out of negative thought cycles and rewire thought patterns, aiding faster and smoother healing. 

The study cites “extensive evidence” that people with depression have a hard time recalling specific personal memories and that, in healthy individuals, smells trigger memories that feel vivid and “real,” likely because they directly engage the part of the brain having to do with memories.

“It was surprising to me that nobody thought to look at memory recall in depressed individuals using scent cues before,” said Dr. Kymberly Young, senior author of the study and associate professor of psychiatry at Pitt.

Young and her team presented study participants with a series of opaque glass vials, each containing a potent, familiar scent ranging from oranges to ground coffee to shoe polish, and even Vicks VapoRub. After asking participants to smell the vial, Young asked them to recall a specific memory, regardless of whether it was good or bad. 

Young said she was surprised to discover that memory recall was stronger in depressed people who responded to odors rather than words. People who were exposed to familiar smells were also more likely to associate them with positive memories.

Aromatherapy

Advocates of aromatherapy are probably not surprised by the results. According to Mount Sinai Hospital in New York, some forms of aromatherapy go back 6,000 years. 

According to the hospital, the "smell" receptors in your nose communicate with parts of your brain that serve as storehouses for emotions and memories. 

“When you breathe in essential oil molecules, some researchers believe they stimulate these parts of your brain and influence physical, emotional, and mental health,” the hospital says on its website. 

For example, some scientists believe lavender stimulates the activity of brain cells in the amygdala similar to the way some sedative medications work. Other researchers think that molecules from essential oils may interact in the blood with hormones or enzymes.

Young, meanwhile, wants to conduct further studies to determine whether using pleasant and familiar scents can not only help people improve their memory but also help people deal with depression.

If you’ve decided to invest in a solar energy system for your home to take advantage of federal tax credits, selecting a company can be a daunting task.

In a relatively young industry, there are an increasing number of companies producing solar panels and providing installation services. In a new study, ConsumerAffairs has researched 24 companies and selected six as the best.

Those six companies are:

SunPower

Blue Raven Solar

Freedom Sun Power

Sunlux

Sunrun

Shop Solar

What sets these companies apart? Shop Solar has one of the highest ratings for customer service. Sunrun earned points for its leasing program. Sunlux has several manufacturing partners. Freedom Solar Power offers a variety of options, including battery storage and ground-mounted systems. 

Blue Raven Solar got praise from customers for its installation process. SunPower has one of the highest satisfaction rates for both customer service and installation. 

Federal tax credit

The U.S. government allows a hefty tax credit for consumers who install solar energy systems at their homes.  In August 2022, Congress passed an extension of the credit, raising it to 30% of costs for the installation of systems purchased and installed between 2022-2032.

According to the U.S. Department of Energy, you might be eligible for this tax credit if you meet the following criteria:

• Your solar PV system was installed between January 1, 2017, and December 31, 2034.

• The solar PV system is located at a residence of yours in the United States.

• You own the solar PV system (i.e., you purchased it with cash or through financing but you are neither leasing the system nor nor paying a solar company to purchase the electricity generated by the system).

• Or, you purchased an interest in an off-site community solar project, if the electricity generated is credited against, and does not exceed, your home’s electricity consumption. Notes: the IRS issued a statement (see link above) allowing a particular taxpayer to claim a tax credit for purchasing an interest in an off-site community solar project. However, this document, known as a private letter ruling or PLR, may not be relied on as precedent by other taxpayers. Also, you would not qualify if you only purchase the electricity from a community solar project.

• The solar PV system is new or being used for the first time. The credit can only be claimed on the “original installation” of the solar equipment.

Fratelli Beretta USA of Mount Olive, N.J., is recalling an undetermined amount of ready-to-eat (RTE) meat charcuterie products.

The products contain Coppa that may be under processed, which may have resulted in possible contamination with foodborne pathogens.

The RTE Coppa products have various best by dates. A list of the recalled products, with various best by dates, may be found here.

The recalled products, bearing establishment number “EST. M47967 or M7543B” inside the USDA mark of inspection or in inkjet print on the front of the package, were shipped to distributor and retail locations nationwide.

What to do

Customers who purchased the recalled products should not consume them, but discard or return them to the place of purchase.

Consumers with questions regarding the recall may contact the Busseto Recall Hotline at 866-552-4916.

If you’re planning a cruise to The Bahamas after March 1, you know you’re probably going to be paying at least 10% more than you normally would.

It’s not the cruise lines that have colluded to hit the customer for more, but it’s the Bahamian government.

According to Bahamas newspaper The Tribune, the government plans to impose a 10% fee on any goods and services that the cruise lines provide on their private islands. Until now, the government has exempted the private islands from the Bahamas' value-added tax (VAT). 

It's the same tax treatment for private island activities as it is for Bahamians selling goods and services to travelers at other locations, according to the country's financial secretary, Simon Wilson.

Who, what?

Most major cruise lines have their own private island somewhere in the Bahamas.

Disney has two, Disney Cruise Line's Castaway Cay and new Lookout Cay at Lighthouse Point, opening next year; Norwegian Cruise Line has the Great Stirrup Cay; Royal Caribbean's Perfect Day is located at CocoCay, MSC Cruises' Ocean Cay, Princess Cruises' Princess Cays, and Carnival Cruise Line's Celebration Key, also opening in 2025. 

How to get around this added charge

Now, this change can be cut two ways: either the cruise lines will absorb the tax increase or they’ll pass it along to consumers. The latter is pretty much an eventuality.

To get a better deal on a cruise to the Bahamas in light of the new 10% fee, consumers should consider the following strategies based on the provided references:

Book early or last minute: According to Cruise Mummy, booking at least a year in advance or very last minute can lead to the best deals, as cruise companies offer attractive prices when they first release their itineraries or a few weeks before they set sail.

Use a travel agent: Travel agents can offer exclusive packages and benefits to their clients, such as onboard credit or free gratuities that may not be available otherwise.

Avoid optional extras: To keep costs down, you should skip on the more glamorous onboard offerings like specialty dining, spa services, and excursions. A mani/pedi could set you back $150, for example.

Select lower-category cabins: Do you really have to have a balcony where you can sit outside? If you don’t, think about choosing interior cabins.

Book during sale periods: Again, this is where a travel agent can come in handy because the cruise lines give them lots of carrots to dangle in front of vacationers. Right now is a good time to shop because, through the end of February, we’re in “Wave Season,” the cruise line version of Black Friday.

Work the calendar in your favor: When you’re looking for a cruise, ask about the week before, the week after, the month before, etc. Being flexible might get you a super nice deal.

Bring your own alcohol: Cruise ship drink packages may be good deals if the people in your party are big drinkers. However, for those who may only have a glass of bourbon a day, it can be expensive -- like $10-11 a shot.

If permitted by the cruise line, bringing your own alcohol can save money as most ships allow one bottle per person. A recent trick for wine drinkers is to bring box wine in their suitcase. Since a box doesn’t have any metal, it goes undetected when going through the scanners.

Scammers have a hard time trying to mess with a Fortune 500 company, but they’ve decided that they can go after the lower-hanging fruit – small businesses.

Along the lines of scammers posing as government workers, these new rogues don’t use the telephone, but instead run their scams by mail. With the help of top tier graphics programs, they’re able to fabricate some pretty good looking fake forms and letters from made-up agencies to small business owners and demanding payment ASAP. 

The fake government letters have agency names that include words like “United States, business regulation, and trademark symbol” to make them seem legitimate. The letters lie to these business owners, saying it’s time to register or renew a business license or trademark, sending you to a website that asks for your license, Social Security, EIN, and credit card numbers. Usually, the letters warn about fines if you don’t respond fast.

What’s funny/sad about this is that there are “federal agency name” generators on the web that, within seconds, can come up with names like Domestic Investigation Service, Homeland Fraud Service, and the National Corruption Department.

Before you move an inch

If you get a letter that appears to be from the government and demands money or information, stop. Before you move an inch, find out if the agency is real before you respond.

“Go to USA.gov to verify the names and contact information of federal, state, and local, government agencies,” Bridget Small, consumer education specialist, at the Federal Trade Commission (FTC, a real agency), said. “Don’t use any websites or phone numbers listed in the letter.”

“Know that the government will never ask you to wire money with services like Western Union or MoneyGram, or pay with gift cards, cryptocurrency, or a payment app. Only scammers will, because it’s hard to track that money and hard to get it back.”

There’s a cost that comes from living by yourself in an apartment. There’s no one to share the rent or expenses.

Zillow, the online real estate marketplace, has calculated the extra financial cost faced by a single apartment dweller as the “singles tax.” According to Zillow, that “tax” has risen to $7,110 in 2024. In other words, that single apartment dweller could save that amount each year by having a roommate.

"While some renters may envy their coupled-up friends for dodging the singles tax, solo renters enjoy perks that go beyond financial savings. There's no arguing over which show to binge-watch next or disputes about whose turn it is to clean up after dinner," said Emily McDonald, Zillow’s  rental trends expert. "Still, it's crucial for renters to really dive into what living alone costs in their area and decide if the price tag is worth it."

Zillow's analysis also reveals that cohabitating renters across the country enjoy annual combined savings of $14,220 over their solo-dwelling counterparts. The savings are much greater in more expensive rental markets.

For example, roommates or couples in New York City are seeing potential savings of $40,200. That’s money that could be directed toward reducing debt or increasing savings.