Consumers Drowning in Car Debt: 24% Owe More Than Their Cars!

Nearly a quarter of Americans are now underwater on their car loans, with used vehicle values plummeting as the market normalizes. Negative equity, where you owe more than your car's worth, has spiked to 24.2%, with an average of $6,400. Buyers from the pandemic era are facing harsh trade-in realities, compounded by new incentives on cars and falling resale prices. For many, holding onto their vehicle longer is the best option as they wait for payments to catch up with value.Link to the featured video:https://youtu.be/CvhpoEMEGEk?si=gzVDg3W45rKvxFoyBuy me a coffee! https://www.paypal.com/paypalme/partsmanagerproGrab a copy of my book:https://partsmanagerpro.gumroad.com/l/qtqax"The Parts Manager Guide" - https://www.amazon.com/Parts-Manager-Guide-Strategies-Maximize-ebook/dp/B09S23HQ1P/ref=sr_1_4?crid=3UZYOGZJUNJ9K&keywords=parts+manager+guide&qid=1644443157&sprefix=parts+manager+guid%2Caps%2C244&sr=8-4Please remember to like, share and leave your comments.Videos are uploaded weekly.Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use. No copyright infringement intended. ALL RIGHTS BELONG TO THEIR RESPECTIVE OWNERS*This video is for educational and entertainment purposes only.Become a supporter of this podcast: https://www.spreaker.com/podcast/the-motor-files-podcast--4960744/support.