Buyers rolling negative equity into a new loan are financing an average of $57,235 and paying $952 a month, according to Edmunds.

According to a recently released Edmunds report, nearly 3 in 10 financed trade-ins toward new vehicles were underwater in the third quarter, and the average amount owed is the highest for a third quarter in at least a decade.

In Q3, 29.1% of those trade-ins carried negative equity, up from 28.1% a year ago. Those buyers owed an average of $7,107 more than their vehicles were worth.

Full Article: https://www.cbtnews.com/negative-equity-rises-to-29-percent/