Owe More Than Your Car Is Worth? Here are Your Options
November 2nd, 2009 | 
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A Facebook fan wanted to know what to do because she’s upside down on her car loan, meaning she owes more than the car is worth. Some people call this having “negative equity.” It’s always tough dealing with being upside down in a car payment because, frankly, there aren’t any really good options. Nevertheless, here is a link to a page on the website of www.LeaseGuide.com, a consumer car leasing guide. It offers of the best explanations you’ll find about your choices when you owe more than your car is worth:
http://www.leaseguide.com/Glossary/upside-down-car-loan.htm
Got a financial question? Ask The Money Coach! Find me on Facebook at www.facebook.com/themoneycoach or on Twitter at @themoneycoach.
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Lynnette Khalfani-Cox, The Money Coach is a personal finance expert, speaker, and author of numerous books on personal finance. She appears frequently as an expert commentator on television, radio and in print. 
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