Upside down car and truck loans have become the norm, but you’re in a position that is unique alter this trend.
2016 had been a bad 12 months for trade-ins. 32% of all of the trade-ins toward the acquisition of a car that is new under water, in accordance with Edmunds. To phrase it differently, one-third associated with the clients purchasing from your own dealership probably have actually negative equity on the trade-ins, meaning they owe more about the mortgage as compared to car is really worth. The common negative equity for those purchasing brand brand new automobiles is all about $4,800, while those purchasing utilized vehicles have actually negative equity of approximately $3,600. (more…)