Motor Finance Minus Equity

Motor Finance…Are You “Upside Down”?
Motor Finance: What is Minus Equity?
With motor finance it is quite common for people looking to upgrade their cars to get the latest model to find they are in a predicament referred to in the motor industry as Minus Equity or Upside Down. If you are “Upside down” it means in car finance speak that you owe more money to a finance institution on your car than what it is worth.
The main difficulty associated with being in this predicament is that unless you have the ready cash available to cover the minus equity amount and you are looking to get motor finance again, you will need to borrow substantially more than the value of the new vehicle to acquire the new car. […]

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