hi, everyone welcome to "on the money." i'm becky quick. sticker shock. if you're shopping for a used car, wait till you see the average price tag. what's hinds it and what you can do. checked your credit score lately. >> there may be good news and you don't have to do anything. rising risks the city of maryland that's had 21,000 year floods recently and why it may be a victim of its success. plus the 13-year-old girl who runs a milt million dollar business it starred because she wanted a lollipop "on the money" starts right now. >> this is "on the money," your money, your life

your future. now, becky quick >> we begin with the cost of cars you might think you walked into the new car lot when you see the prizes on preowned models, $20,000. as phil lebeau found, if it's been awhile since you've been car shopping you may be in sform sticker shock. >> forget the image of used car deal areas peddling old car beaters. these days dealers are selling used models and service plans few could you have you imagined. since 2005, the average used vehicle price has climbed more than $5,000 to hit a record high of $20,000. >> $20,000 would be too high depending on the car also. >> we are seeing healthy amount of sales so far. largely that comes from off lease vehicles. >> as is >> there's been a steady supply of leased 3-year-old models

returned to dealers who in turn have sold them at healthy prices since those off lease models have relatively low mileage and many of the latest bells and whistles buyers are looking for. in addition, dealers are certifying more preowned models selling them with extended warranties and at higher prices. >> the gross profit in our preowned business improved by 22%. really strong preowned business. >> mixing greater demand for more expensive suvs and pickup trucks and you see why dealers are enjoying robust business on their used lots. >> it's working more at the moment for used cars ours were up 11% in the dwaert, a number i've never seen before. >> all of this comes as ought totesmaker who's build and sell new models with increasingly under pressure steel and aluminum tariffs could

force them to raise prices and while some buyers may reconsider how much they're willing to spend on a new car or struck it's estimated almost 40 million used vehicles will be sold in the u.s. this year that's close to a record high, about two-thirds will be done through dealerships with the other third done through prust party sfraels one person to another. for "on the money," i'm phil lebeau in chicago. >> so despite being a depreciating asset used car prices are on the rise up 5% compared to this time last year michelle krebs is executive analyst at auto trader thank you for being here today. >> thanks for having me today. >> $20,000 for a used car, is this a temporary situation or do you think these higher prices are here to stay in. >> something odd is happening this summer. typically in the summertime we see used car prices go down. since june we've seen them go down a couple things are at play. the economy is strong and these

are still afford be for people who can't necessarily afford new cars we think that also tariffs, the potential might be playing a role people might be buying now in case prices of new cars go up. >> i just bought a used car myself, a 3-year-old explo plosser i paid $30,000 for it was because when i looked at prices for brand-new,ty thought i don't want to pay $45,000 for a car. it seems prices for new cars are getting stras to the sphere rick. >> an average new vehicle costs $35,000. a lot has do with the fact new cars are packed with ton afc features and technology and we're selling a lot more sport utility vehicles now than new cars >> you might feel bad for the auto dealers as we heard in that package, they're doing just fine because people are willing to pay a lot more for used cars these days. is that kind of the model for a

lot of the deeters >> yes, they make more money on used car sales and ledging against lowering new car sales we've reached aid peak we hit a record a couple years ago of new car sales kind of on the decline they're substituting for used cars a lot of consumers wages haven't gone up and they can't afford the new cars there's a great market for used car buyers >> if you're in the market to buy a used car, is there anything you can do to maybe get a better deal? >> shop around we always say that do a lot of research and really know what it is you want anwar budget is i'd say the same rules apply in the new car business, set a budget set what your aspirations for the reek are be realistic. >> what do you tell people if they're considering a lease? do you have to be a very particular type of driver? >> totally depends on your style. if you want a new vehicle every few years with all the bells and

whistles, and you don't put a lot of miles on a vehicle and maybe you have a business deduction, then you're an ideal lease customer if you put a lot of miles on, don't take great care of your vehicle, probably not so much. >> that may be me. michelle, thank you very much for joining us today. >> thank you now here's a look what's making news as we head into a new week on the money. u.s. stock market is now in the longest-running bull market in its history. that means we've seen the s&p 500 go 113 months without moving into the bear territory. that's a decline of 20%. the index more than tripled since the run began in march of 2009 after the financial crisis. and in addition, the s&p 500 hit a new high for the first time since january on tuesday of this week pepsico is trying to add more physician to the bottom line the soda and snack food flynt buying soda stream for $3.2 billion. soda stream makes devices that

lets you cashnate tap water with a reusable bottle. it's a move to diversify away from sugary sodas and salty snacks nabisco's animal crackers are finally free you have to pay them but they're not longer pictured in cages on the boxes. now they're roaming wild at the urging of animal rights groups guess you can still bite the heads off any cracker you choose up next, we are on the money extreme weather is on the rise and many cities are paying the price. how one small city is making big changes to try and stay afloat. later, could you have something extra in your credit report the bushes are changing the way they calculate scores. how to see if your number is up. right now a look at how the stock market ended the week.

♪ water is a source of life but as more and more americans are learning it can be a terrible source of destruction, too one community had two 1,000 year floods in the span of two years. latest hitting this past memorial day what's behind the devastation. the answer it surgeons out is complicated as die and i olick find out in ellicott city, maryland. >> it would have been called a thousand year flood if the same destructive deluge hadn't crushed through ellicott city pld, two years before. the first time around in 2016 on the city's nearly 250-year-old

main street, shop owners like donna sanger worked tirelessly to rebuild. >> this was this enthusiasm, let's put on a show, bring the town back. >> reporter: but this time. >> this is more like a funeral. >> reporter: joe sexton is a scientist who uses satellite images to map changes in ecosystems you had two 1,000 year floods within two years how did that happen? >> the overwhelming factor was intense rainstorms climate change due to warming oceans changing atmospheric patterns, more water is falling. on top of that, we're clearing the natural vegetation and replacing it with surfaces like concrete, asphalt through which water does not penetrate. >> reporter: ellie cot city was built just north of the river. several tributaries of its main street run through the town to the river. those water currents were the energy for this town built around a mill in 1772.

but since 1991, real estate around the popular main street exploded developers submied more than 100 plans to build residential and commercial buildings in about three square miles around the city, most were approved in the most recent storm, nearly 28 inches of rain fell in three hours. intense water with nowhere to go sexton's maps show how development increased the intensity of the flooding up to 30% and ellicott city is it just one example. alan kittle man has been the county executive for the area that includes the city for the last four years leading people through both floods. >> we need to realize how can we coexist with the river. >> the answer he says may be in a transformative vision, literally taking down some of the hick buildings by the river to gin the water more space. >> we had to figure out the best way to save this town. the river runs underneath all these buildings right here.

>> reporter: one of those houses tom shoemaker's family furniture business he and his son barely escaped the floodwaters. >> the water kept coming up and started seeing through the doors. >> reporter: he's lived in this area nearly 50 years now he's going to move his business uphill. >> being down here in the flood zone is not fun. it's difficult. >> reporter: on the other side of the street, the change could benefit other businesses like donna sanger's. she owns her building and invefrted in what the town decides because taking down did the opposite buildings means her property would overlook a valuable new green space, a riverwalk mitigating water and attracting business to her and her neighbors. >> they know if they hold on they bring the buildings back, and the county does what we think they're going to do, hen in the long run, they'll have very valuable real estate. >> last month, the county council for ellicott city unanimously approved a freeze on all new development for one year in areas where storm water runs

into the historic main street, about 600 housing units in various stages of development could be put on hold according to county estimates. becky? >> thank you. up next, we are "on the money. remember that library book that you never returned that unpaid debt could be wiped from your credit score we'll tell you how credit reports are changing and later, how a 13-year-old turned her idea for a healthier lollipop into sweet success. man: are unpredictable crohn's symptoms following you everywhere? it's time to take back control with stelara®. for adults with moderately to severely active crohn's disease, stelara® works differently. studies showed relief and remission with dosing every 8 weeks. woman: stelara® may lower the ability of your immune system to fight infections and may increase your risk of infections and cancer. some serious infections require hospitalization. before treatment, get tested for tuberculosis. before or during treatment, always tell your doctor if you think you have an infection

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some good news for borrowers looking for better terms on a credit card, a mortgage or another loan your credit score may have recently gone up millions of consumers have seen their score rise following big changes in how credit reporting agencies actually deal with negative credit information. sharon epperson joins us right now for more on the changes and what it could mean for you sharon, what happened? why did the credit agencies change this and what does it mean. >> good news for consumers the three major credit bureaus, be got together and said we have to make some changes and revamp our scoring system here. we need to look at what we're including on the reports and in the score and selections was the big thing they looked at they took out some of the main collections that can trip people up you wouldn't believe it. library fines. >> that's on your credit score >> parking and traffic tickets

and this is the really big one, medical debt and what they decided was these are not really factors that contribute to whether your credit worthy or not medical debt being the biggest one of those if you medical dmebt collections but already being paid by insurance or started to be paid by insurance, that's not going to count at all and they won't have medical debt on there till at least 180 days because it takes so long to deal with insurers is sometimes. >> what's the deal with library fines and track tickets? >> some people in my household have known this to happen. but it can happen and if you don't pay a library fine in the past an overdue book could go into collections that could hurt your credit score. >> for your $2 you o'er. >> or 14.09, i won't say. >> how do i know if my credit score has been impacted? >> by checking out your credit score for free a number of places you can go online to credit karma or credit sesame or nerd

wallet you can open your bank statement, american express, chase, wells fargo, discover, many, many banks now include your credit score. >> every statement >> every statement you can look what it was a couple months ago and today and pay attention to whether it's gone up or down. if it's gone up that, could mean you could get a lower rate on your credit card that could have significant savings. just for instance, if you had like $10,000 in debt, credit card debt and had you 25% interest rate, you're paying $2500 in interest charges. 18%. >> no not even pay off a eny. >> 18% is $1800 in charges $700 savings so what your score is makes a really big difference. >> if i see my score, what does that tell me. >> i may not know how to map that out. >> you're looking at a range between 300, 850 if it's 8 had 00, you're awesome. you get credit for whatever you

want between 74 and 799 very, very good and you're probably going to get did the lower loan rates available. if you're between 670 and 739, that's good. you're an acceptable borrower. below that is where problems arise. >> i heard 650 is where you get in trouble. >> some say 650, some say 660. go for the high one to make sure you're going to be okay. know this. you've heard different numbers because there's not just one credit score depending if you get auto loan or mortgage, they look at perhaps different numbers. general ranges from experian and fico you should look at. >> how do i know the number is the same one the companies are looking at >> ask them which number they're looking at or which krid bureau they're referring to in terms of getting your score just snow generally speaking you want to have a score that's in the upper $600 if you could, at least $700 you're golden 500s, you want to work on your credit. >> thank you very much up next on the money, a look at

the news for the week ahead. and a loly pop that may actually be good for your teeth we're going to talk how this kid built a company based on healthy concept. why did i want a crest 3d white smile? dinner date.thealthy , dinner date. so i used crest. crest 3d white removes 95% of surface stains in just 3 days, for a whiter smile that will win them over. look for a one dollar coupon in this sunday's paper.

here are the stories coming up that may impact your money this week. game, set match. on monday is the soem tennis

tournament kicks off in new york on tuesday, we'll get the case-shiller home price index for june we'll also see how the consumer is faring when it comes to the consumer confidence report wednesday, we'll get pending home sales for july. on thursday, the personal income report is released and happy birthday warren buffett. the oracle of omaha will turn 8: >> who doesn't love candy? maybe parents who don't want their children to get cavities but one kid wanted to make a treat she could enjoy without her parents and dentist giving her grief. enter zolly pops made with ingredients that reduce the risk of cavities. joining us to explain is an lean anyway moore, the founder and ceo of zolly pops. thank you for being here. >> thank you for having me. >> it sounds too good to be true how did this come about? what happened? you were , right. >> i was 7 years old and went to the bank with my dad teller offered me a lollipop my dad told me i shouldn't have

candy because sugar is terrible for your teeth i asked him why couldn't we make one good for my teeth so i could have candy and it wouldn't be bad for me. >> my son would say that to me you went out and created this. how did you do it? what makes these unique? >> i did about two years of research which consisted of. >> you did >> yes which consisted of looking on the internet and talking to my dentist and dental hygienist would be great for a lollipop that could clean your teeth. >> what's the answer >> our ingredients are all natural ingredients that naturally raise the ph in your mouth, neutralize acid and strengthen tooth enamel. >> it's actually good for you? >> yes, they reduce the risk of cavities and day kay and strengthen your tooth enamel. >> you're talking about two years of research. then what happens? do you have to borrow money to get the operation off the ground >> i actually used savings from

my grandparents from birthdays and my dad matched it came out to be about $7500. that was our official investment for plant trials and creating the original product. >> it's hard to imagine you're 13 you're going to be an eighth grader. yes. >> with school starting. how much time do you spend running the business >> well, during the school year, i actually split my time into thirds after school. one-third for business, one-third for homework because school is very important, getting good grades and then one-third for being a kid. >> all right i'm glad that you have factored that into the whole time i'll glad to hear that your dad is here do your parents work for you >> well, my dad is my business consultant and manager my mom is my personal stylist and helps me with scheduling and time management. >> that's excellent. they technically do kind of work for you if you're the ceo. >> but at the end of the day they're my parents and can still ground me. >> and tell what you time to go

to bed >> yep. >> you've now got other lines too, taffe and other things. how difficult is it to come up with the formulation for these things >> well, it was more what the customers wanted and looking at market trends and we created the taffe because my sister actually loved chewy candy and also chewy candy has been making a bill impact in the candy category. >> and dentists tell you never to eat chewy candy that's the first thing that impacts your teething. > with zaffy, a big problem is it sticking to your teeth like taffe. but zaffy taffe doesn't stick to your teeth like a normal taffe would. it's perfect for me because i have braces. it's peb for anyone. >> i'm going to try this lollipop i've been waiting and waiting to test it out. that's really good tastes like real candy and doesn't have an after flavor

like diabetic stuff does. >> we're diabetic friendly but don't taste like a sugar free candy that your abgrandparents don't even like. >> how are your sales? you're talking millions in sales at this point, right >> yes, we're very profitable. we're projecting about $6 million at retail this year. >> that's fantastic. an leanna, i love your story i love your determination. thank you for sharing the lollipops. >> thank you so much. >> thank you so much. >> that is the show for today, folks. i'm becky quick. thank you for joining us next week, travel bargains a strong dollar may mean deals for some places you might have thought were out of reach. each week keep it right here we're on the money have a great one and we will see yo

hey there we're live in times square look who decided to join us tonight. tim seymour making his big "options action"s debut. here's what's coming up on the show ♪ fire >> he yeah, that's what chip stocks have been doing but if you missed the move, dan nathan thinks there's one name you can still buy and here's a hint ♪ >> he will break it down, plus. >> pot stocks are, well, smoking. >> yeah, something like that and mike khouw has a way t