More Drivers Are Drowning In Their Car Loans

New Edmunds analysis shows that more than 25 percent of new-car buyers in the United States are underwater on their car loans, meaning they owe more on their car loans than the vehicle itself is worth. Those who are underwater are in deeper than ever, with more than a quarter (27%) of those buyers having rolled $10,000 or more in prior debt into new loans. In Q4 last year, a staggering 29.3% of trade-ins toward new-vehicle purchases were underwater. On its own, that's a record that has stood since the first quarter of 2021...