Archive for the ‘Maine Installment Loans’ Category

Just how to Buy a car or truck if you have A upside-down loan

Dienstag, März 17th, 2020

Just how to Buy a car or truck if you have A upside-down loan

Edmunds estimates that 32 per cent of trade-ins for brand new automobile acquisitions in the 1st nine months of the 12 months had “negative equity,” up from 30 % for similar duration year that is last. The upside-down shoppers had typical negative equity of more than $4,800 during the time of trade-in, which Edmunds said could be the greatest as it started tracking such information in 2002.

About 25 % of trade-ins from shoppers purchasing used vehicles additionally had equity that is negative averaging $3,600.

Being upside down on a motor car finance is comparable to being underwater on a home loan, in that the asset securing the debt may be worth not as much as the mortgage. (mehr …)