Tip - How to Buy a Car if You're Upside Down on Your Loan

The recent economic upheaval left many Americans with large amounts of debt and other financial problems. One such problem is the upside down car loan. You have likely heard about the many houses that homeowners have walked away from once they owed more than the home’s value. Similarly, car owners are finding themselves perplexed when the amount they owe on a car surpasses it's current value. Are you in this position? There's some good news. How Does an Upside Down Car Loan Happen? An upside down car loan, also known as a negative equity car loan, is a loan where you owe more for your car than it is worth. You can get yourself into such a situation in a number of ways: