Americans are finding themselves in a deeper financial hole than ever before when it comes to auto loans.
According to recent data from Edmunds, a rising number of car owners owe more on their car than the vehicle’s worth, termed “negative equity.” Even more troubling, the average balance owners have left to pay on their loans hit an all-time high in the third quarter of this year. Experts say it's an alarming trend for overall consumer health.
According to recent data from Edmunds, a rising number of car owners owe more on their car than the vehicle’s worth, termed “negative equity.” Even more troubling, the average balance owners have left to pay on their loans hit an all-time high in the third quarter of this year. Experts say it's an alarming trend for overall consumer health.