Automobiles Can Drive You BROKE! 🚘 💸

The dream of owning a shiny new car often comes with a hidden financial nightmare. Recent trends show an alarming rise in negative equity among car owners, meaning many owe more on their car loans than their vehicles are actually worth. As of the third quarter of 2024, approximately 24.2% of trade-ins were underwater, with an average negative equity of about $6,458—a record high.