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Buyers Trading In Vehicles With Negative Equity Face Record Monthly Payments: Edmunds
Buyers Trading In Vehicles With Negative Equity Face Record Monthly Payments: Edmunds
Authored by Rob Sabo via The Epoch Times,
The number of automobile owners trading in vehicles with negative equity continues to rise, with 29.6 percent of trade-ins in the second quarter showing more money owed on existing auto loans than the vehicles were worth, according to automotive insights platform Edmunds’s July 16 vehicle transaction report.
Negative equity also pushed average monthly payments on “underwater” trade-ins to $944 in the quarter, the highest figure on record, the report said.
That’s $167 more...
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