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Trading in a vehicle with positive equity gives you money to apply to the purchase of your next car, which can help reduce your monthly payments. If you have negative equity, however, you still ...
Learn how to trade in a financed car, including steps to prepare your car for sale to get top dollar and how to handle a trade-in with negative equity.
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In finance, equity is an ownership interest in property that may be offset by debts or other liabilities. Equity is measured for accounting purposes by subtracting liabilities from the value of the assets owned. For example, if someone owns a car worth $24,000 and owes $10,000 on the loan used to buy the car, the difference of $14,000 is equity.
Negative equity is a deficit of owner's equity, occurring when the value of an asset used to secure a loan is less than the outstanding balance on the loan. [1] In the United States, assets (particularly real estate, whose loans are mortgages) with negative equity are often referred to as being "underwater", and loans and borrowers with negative equity are said to be "upside down".
Cars are the leading cause of fatal collisions in many countries, and are the leading cause of death of youth and children. In 2010, car crashes in the United States resulted in 32,999 deaths and a projected $871 billion cost to society, around 6% of the United States 2010 GDP. [7]
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