5 ms·
> Something like 30% of trade ins have negative equity Could you please clarify what this means. E.g., A car "X" is traded in for a car "Y". X gets a trade-in-
by reactspa 4y ago
> Something like 30% of trade ins have negative equity
Could you please clarify what this means. E.g., A car "X" is traded in for a car "Y". X gets a trade-in-value of $2,000. That is, the cost to buy Y is reduced by 2,000. Where does the negative-equity in your point apply here please? Thanks.
- legitster 4y agoYour old car has more debt left on it than you get in the trade-in. The dealership gives me 10k, but it still has a 12k loan on it. So on top of the cost of the new car, I am still out $2k.
- rainbowzootsuit 4y agoWe can help you out and roll that into the loan for the new car.