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Upside Down Car Loans - Aside from the competitive nature of auto financing, the primary reason the banks continued to stretch out the car loan terms was that many Americans wanted to buy an expensive vehicle while still having an affordable monthly payment. The net effect of lenders stretching out the term, and consumers buying vehicles that they previously could not afford, is a national epidemic of consumers with negative equity; commonly referred to as being Upside Down, Under Water, or Buried in your trade. If you think about it, it makes perfect sense. An 84 month car loan is 7 years. The halfway point of the loan is three and a half years. This is typically the time frame that most of us keep a new car; somewhere between three and four years. At that time most of us prefer to trade out of the used car and into a new one......
http://www.financingcarloans.com/new-cars/upside-down-car-loans

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