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Americans increasingly underwater on car loans
Americans increasingly underwater on car loans: Edmunds
More than 1 in 5 consumers who were underwater owed more than $10,000 — a data point analysts called "alarming."
So you're upside down on your car loan. You're not alone.
Nearly a quarter of Americans who traded in a car for a new one was upside down on their loan, Edmunds says. The amount some owe is "alarming."
Backgrounder
Many Americans are car poor from their auto loans. Here’s why.
Nearly 1 in 4 consumers owe more on such loans than the vehicle is worth, pushing the national average for upside-down balances to a record high north of $6,400.
Average Amount Owed on Upside-Down Car Loans Hits All-Time High
Analysts with Edmunds found more than 1 in 5 vehicle trade-ins with negative equity are underwater by $10,000 or more.
American consumers are increasingly underwater on their car loans
A growing number of Americans with auto loans owe more than their vehicles are worth, according to a report Tuesday from Edmunds.com.
Americans are more underwater on their car loans than ever before
Americans increasingly owe more on their auto loans than their cars are worth, according to new data from Edmunds.
Americans Owe More Than Their Car Is Worth As 'Upside-Down' Loans Are On The Rise
A growing number of U.S. consumers owe more on their auto loans than their vehicles are worth, according to Edmunds.com. The average negative equity in auto loans increased during the third quarter of 2023 compared to the previous quarter and the same period a year earlier.
1d
on MSN
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Edmunds: Negative equity increased in Q3
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on MSN
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Edmunds: Average negative equity surges in Q3 to all-time high
In March, Edmunds said “negative equity is rearing its ugly head.” After looking at its third-quarter data that showed ...
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on MSN
Edmunds electric truck face-off: Ford F-150 Lightning vs. Tesla Cybertruck
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MarketWatch
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Edmunds Review
In this review, we at the MarketWatch Guides team will take a close look at
Edmunds
to help you find the best place to buy or sell a
car
online. We’ll provide an overview of the company’s ...
1d
Should you buy a prepaid car maintenance plan?
Edmunds explains that car maintenance packages can be worth the extra cost, but only if you can get a deal that’s better than ...
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