within the automotive industry, we often come across a predicament we call “Negative Equity”. We thought it absolutely was crucial to create a write-up they are carrying negative equity, especially during difficult economic times on it today because a lot of customers may not be aware that banks tend to take a hard look at customers applying for car loans when.
To simply help explain exactly just what negative equity is, let us take a good look at this scenario: a customer makes a dealership and chooses to buy their first new vehicle! They want funding so that they use and acquire authorized! To help keep payments low, they make the longest term at 96 months. (more…)