If you’re “upside down” or “underwater” on your car loan, it means you owe more on the loan than the car is worth. This situation is also called having “negative equity” in the car. In a down economy, you may find your car is unaffordable and want to get out of it, but you’re upside down on a loan.
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The $$ and decisions people make about cars are insane.
If you can’t afford to buy the car in 36 or maybe 48 months then you need to buy less car.
But people feel special….so they sign that 72 month high interest note on the used bimmer