What is negative equity on a car?
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Negative equity on a car is when the car owner owes more money on loan than the vehicle is worth — if the automobile is valued at $15,000, but you own $19,000 on the car, then negative equity is $4,000. This is also called an upside-down car loan.
Among the common reasons why cars go down in value and vehicle owners face negative equity car loans are: not investing enough money in the purchased vehicle, heavy wear and tear on the car caused by overuse or neglect, long-term car loans (for 6-7 years), and others.
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Call us now at
(855) 547-1550
or email us at support@junkcarsus.com
Receive a guaranteed highest-priced quote for your junk car from the best junk car buyer by filling out the form online.
We’re open Mon-Fri: 8 am - 8 pm, Sat: 8 am - 3 pm
11/09/2023
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