I've Run Dealerships. A $952 Car Payment Should Scare You.

I used to sit on the other side of the desk. So when Edmunds says underwater buyers are averaging $952 a month (!!), I don't shrug, I kind of wince, because that number is what you get when old debt,

I used to sit on the other side of the desk. So when Edmunds says underwater buyers are averaging $952 a month (!!), I don't shrug, I kind of wince, because that number is what you get when old debt, high rates, and a financed amount near $57k all land in the same deal. Negative equity got rolled into 29% of trade-in loans in the third quarter, per Edmunds. That's down a couple points from the peak earlier this year, still up year over year. The percentage alone would not freak me out as much as