Originally Posted by Artkansas
In the business it's called being upside down. In other words right from the day they take delivery, they owe more on the car than it's worth. There may even be a substantial balloon payment due at the end of their loan contract.
Then again, with such a big SUV maybe they don't need a house.
Someone posted an article that showed a huge portion or the majority of motorcar owners are in fact upside down on their loans. This is called working for the banks. It's a trap for millions of Americans to spend the rest of their lives in debt.