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Very southern Mn | Kind of scary that this is a pretty accepted practice in car world. Anybody hear of an underwater loan 10-15 years ago? Did anybody go to a car lot with nothing down and drive away a new or used vehicle? Generally something down or car trade with enough equity to take car of the depreciation driving it off the lot. Now people go to a dealer to trade off an underwater vehicle on a higher priced vehicle so new loan can cover the underwater loan from first vehicle on top of the depreciation that will hit them on new vehicle. . Financial stuff always interests me and lately a lot of these short you tube videos of car dealers getting these goofy negative equity people into a new or newer car and proud of it. If nothing else go to YouTube and watch a couple of these as YouTube full of them, somewhat entertaining but sad at same time.
I didn’t post to look down my nose at someone that finances a car or uses loans as believe me I have had enough debt in my life ( and car loans) and quite frankly don’t know how you get ahead without borrowing money to buy things that hopefully appreciate or that are needed to run a business or in many cases get to a new job opportunity or get kids to appointments , my unbelief is that people will constantly do things that keep them even more broke with no chance at a better life, making a bad decision and than covering it up with a even worse decision.
Edited by jdironman 8/2/2026 10:04
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Car loans
