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Old 12-09-2007, 03:38 PM
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ambrosia is on a distinguished road
Default what does it mean to be "upside down" on a car loan

with a trade in?
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Old 12-09-2007, 04:48 PM
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It means you are like most people who buy vehicles on long term loans with little down.If you trade in a vehicle and it is worth less than what is owed to the bank you are "upside down", you will then either pay the difference of worth and loan value or make the mistake of rolling in this difference to the new loan making you immediately upside down with you new vehicle repeating the cycle
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Old 12-09-2007, 06:54 PM
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It means your ganna have to owe more than $6,000. Good luck !
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