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• Chris Chilton
• 2024-10-26
• Auto Show News
• (0)

One in four Americans owe more on their car loan than

In the United States, more than 24% of new car transactions have negative equity, and that number is rising. One in five drivers with negative equity owes more than $10,000 on their car loan, according to an Edmunds study. Paying more than MSRP and lower trade-in values ​​during the pandemic are hurting buyers trying to upgrade in 2024. U.S. drivers who take out loans to buy their cars are increasingly finding themselves with negative equity, with a disturbing amount now being owed more than $15,000 more than the vehicle is worth, according to a new study. var adpushup = window.adpushup = window.adpushup || {que:()}; adpushup.que.push(function() { if (adpushup.config.platform !== "DESKTOP"){ adpushup.triggerAd("4d84e4c9 -9937-4f84-82c0-c94544ee6f2a"); } else{ adpushup.triggerAd(" 6a782b01-facb-45f3-a88f-ddf1b1f97657"); } }); According to Edmunds data, the proportion of U.S. drivers who had an inversion on their car loan when they traded in their old car for a new one rose from 23.9% in the second quarter of this year to 24.2% in the…