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Amount owed on upside-down car loans hits record The real shocker is that consumers with upside-down car loans owe more money than ever before. On average, consumers owed $6,838 on upside-down ...
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." ... the amount they owed on those trade-ins climbed ...
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Balances on car loans increased by $17 billion in the third quarter of 2020, according to the Center for Microeconomic Data’s September 2020 report on household debt. The same report showed...
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A 2023 report from Moody's Investors Service indicates that new auto loan delinquencies are on the rise. In the second quarter of 2023, the delinquency rate for new auto loans climbed to 7.3%, up ...
Any extra money you pay toward your loan comes off the balance rather than the interest, which can help you pay down the loan faster. Extend Your Car Loan. If you want to trade in a car with ...