What You Ought To Learn About Your Negative Equity Car Loan
First, a easy meaning: a bad equity automobile loan—also known as being “upside down” or “underwater” for a loan—means you owe more on a car than it’s well worth, and it’s a far more typical scenario than you possibly might think.
Through the J.D. Power Automotive Forum on March 22: Nearly 1 / 3rd (31.4%) of automobile owners have an equity car loan that is negative. Much more concerning: “The portion of vehicle owners facing equity that is negative anticipated to strike a 10-year saturated in 2016, ” USA Today reports.