12.29.25 Save On Ride Share Services / Up In ARMs - The Adjustable-Rate Mortgage - The Clark Howard Podcast Recap

Podcast: The Clark Howard Podcast

Published: 2025-12-29

Duration: 30 minutes

Summary

Clark Howard discusses strategies to save money on ride services like Uber and Lyft, and warns about the resurgence of adjustable-rate mortgages (ARMs), emphasizing their risks and appropriate usage.

What Happened

Clark Howard emphasizes the importance of comparison shopping for ride services like Uber and Lyft, especially with the increased demand during New Year's Eve. He shares a study showing that many people don't compare prices between these services, potentially missing out on savings. Clark also notes the rise of robo-taxis like Waymo and Tesla's efforts to expand their presence, which could change how people approach ride services in the future.

In the mortgage market, Clark highlights the resurgence of adjustable-rate mortgages (ARMs), pointing out their appeal due to lower initial rates compared to fixed-rate mortgages. He warns, however, about the risks associated with ARMs, such as potential rate increases after the initial fixed period. Clark advises that ARMs may only be suitable for those with substantial equity and a short-term plan to stay in the home.

Clark answers a listener's question about whether credit should be thawed when shopping for new car or homeowner's insurance. He clarifies that while some states allow insurers to access credit reports even when frozen, others do not, and advises contacting the insurer if denied coverage or quoted a high rate.

A listener named Fred from Wisconsin asks about getting a prenuptial agreement to protect against debt in a community property state. Clark advises consulting a lawyer for such matters, noting the complexities involved in community property laws and the impact on debts acquired before marriage.

Clark touches on the issue of junk fees being added by retailers and restaurants, advocating for clear pricing to promote transparency and consumer trust. He expresses frustration over hidden costs and supports legislation for full disclosure on prices across various industries.

Questions about travel booking sites and extended car warranties are also addressed. Clark warns against using unfamiliar booking sites for flights and suggests sticking to well-known platforms. For car warranties, he notes that CarMax's MaxCare warranty is more reliable than third-party options due to its backing by CarMax itself.

Key Insights

• Comparison shopping for ride services like Uber and Lyft can lead to significant savings, especially during high-demand times such as New Year's Eve. Many users overlook this step, potentially missing out on cost-effective options.
• Adjustable-rate mortgages (ARMs) offer lower initial rates than fixed-rate mortgages, making them appealing for short-term homeowners with substantial equity. However, they carry the risk of rate increases after the initial fixed period.
• In some states, insurers can access credit reports even if they are frozen, which can affect car or homeowner's insurance quotes. It's advisable to contact the insurer if coverage is denied or if quoted rates are unexpectedly high.
• CarMax's MaxCare warranty is considered more reliable than third-party options due to its backing by CarMax itself, offering a more dependable choice for extended car warranties.