#NegativeEquity
Uh Oh, Your Car's Worth Less Than You Owe - What Comes Next?
Years back, after the desire to purchase one particularly fetching model became too great, you walked into the dealership, marched right over to the salesman’s cubbyhole, and signed over several years’ worth of payments on your ride du jour. Bliss ensued.
Unfortunately, come trade-in time, your once-desirable ride isn’t even worth the amount left owing. You’re in negative equity, pardner. Still, buyers faced with this situation have a number of options at their disposal.
Thanks to a recent study of new car buyers, we now know exactly how owners of low-value trade-ins chose to deal with their unexpected debt.
More Trade-Ins Pulled Underwater As Negative Equity Level Rises
As more consumers trade-in their old vehicles for a newer model, a growing number of consumers are owing more on their trade-in than their vehicle’s actual worth.
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