Car Worth Less Than You Owe? Video by Car Loan

Car Worth Less Than You Owe?

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Description When deciding to purchase an automobile, one must factor in costs for gas, maintenance, and insurance when assessing affordability. However, we often forget about the largest financial hurdle in owning a vehicle -- depreciation. Regardless of how well you take care of your vehicle, it loses value quickly. For instance, the value of your vehicle can decrease by as much 20% the moment you drive it off the lot. Join Thomas Fox as he discusses the problems with being upside down in your car loan.
Tags Cambridge, credit, counseling, corp, automobile, car, loan, debt, bills