Over One Quarter Of New Car Buyers Are Dramatically Upside Down On Their Trade Ins

Despite predictions of doom and gloom, the economy keeps chugging along. However, warning signs continue to pop up and one of the latest is a growing number of people being underwater on their auto loans.

 

According to a study from Edmunds, 26.6% of trade-ins toward new vehicles had negative equity in the second quarter. That’s a four year high and the number is up from 23.9% a year ago.