Every year, the price of a new car ticks ever upwards. Loans get longer, yet monthly payments are always on the rise, leading to an epidemic of folks underwater on their loans. Now, there’s a new complicating factor: Used car prices are falling, meaning folks are getting less for their over-leveraged trade than ever.
A new report from Edmunds looked at used car prices compared with trades that have negative equity and found that a drop in…
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