{"id":112423,"date":"2024-04-08T00:25:00","date_gmt":"2024-04-07T23:25:00","guid":{"rendered":"https:\/\/www.carscoops.com\/?p=2987681"},"modified":"2024-04-08T00:25:00","modified_gmt":"2024-04-07T23:25:00","slug":"record-negative-equity-and-high-interest-rates-plague-auto-trade-ins","status":"publish","type":"post","link":"https:\/\/gamefootballmobileanimeiphone.com\/index.php\/2024\/04\/08\/record-negative-equity-and-high-interest-rates-plague-auto-trade-ins\/","title":{"rendered":"Record Negative Equity And High Interest Rates Plague Auto Trade-Ins"},"content":{"rendered":"
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  • 23.1 percent of American shoppers are upside down on their loans, and they owe an average of over $6,000 on the vehicle they are trading in.<\/li>\n
  • Although interest rates are falling, APRs remain over 7 percent for the fifth quarter in a row, making new vehicles less affordable.<\/li>\n
  • Despite that, more than 17 percent of shoppers are still willing to pay more than $1,000 per month for their new car.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n

    A stunning 23.1 percent of people trading in a used vehicle for a new one were upside down on their loan in the first quarter of 2024. The average amount of negative equity in those trade-ins has reached an all-time high, which means that even as MSRPs for new cars come down, affordability remains a challenge.<\/p>\n

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