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If you trade in a car that has a loan balance and add that balance onto your new auto loan you will owe more for the new car than it is worth.
Car upside down meme. So if you re the lucky owner of an upside down car loan don t worry. 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. While it happens to most people who finance the purchase of a vehicle at some point it s not a good place to be especially when you re planning on selling the car or trading it in for a newer model. We re here to help. Carly paige licensed to youtube by wmg on behalf of spinnin records distribution. So i decided to quickly finish this kinda old meme i started over 4 months ago so some frames have older and some newer art styles. Let s say you ve got a 15 000 car loan and your car is valued at 7 000.
An upside down car loan is one where you owe more on your auto loan than the car is currently worth. What is an upside down car loan. Icon animation meme yeagar plush. No matter what you call it it means you owe more on your car than it s currently worth. You are upside down on your car loan when you owe more on the loan than your car is currently worth. That means you re 8 000 upside down. You can get yourself into such a situation in a number of ways.
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