Monday, June 12, 2006

Upside-down blues

The Detriot News reports:
Zero-interest deals and long-term car loans are boosting sales, but they are producing one troubling side effect -- a growing number of drivers owe more on their vehicle than it's worth at trade-in time.

Last month nearly 29 percent of U.S. car buyers found themselves "upside down" on their loans, owing an average of $3,789 more than their trade-in value -- the highest level since September 2004.
The longer you drive a car,with few problems,the better value you get.