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Negative equity in car – cover with down payment or use for newer vehicle?

Shawn Ryder

If you’re considering whether to apply your down payment toward covering negative equity or if you should use it for a newer vehicle, it’s essential to understand the implications of each choice. These losses can sometimes outpace the rate at which car owners pay down their loan balances.

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How to Haggle Car Price Like a Pro

Your Car Buying Advocate

Your budget should clearly reflect what you can afford to spend, keeping in mind both the initial cost of the car and ongoing expenses like fuel, insurance, and maintenance. How much do you have left after paying for necessities like rent, food, utilities, and other regular payments or debt obligations?

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