The Upside down Loan
Sunday, September 21st, 2008You’re finally ready to buy the new car but lo and behold! You got a dismal amount of money trading your old car in. This may not come as a complete shock to everyone, especially since the better and higher new car incentives have pulled the prices of used cars. Nevertheless, it is still quite a bind to be in, particularly for those who have old auto loans that have caused them to pay more for the loan than the real value of their car.
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