Saturday, September 11, 2021

What is rolling over negative equity? Equity is the difference between the value of a car and the amount owed on it. 


When you owe more to the bank than the car's worth, it's called negative equity. If you buy a new car, the negative equity will be rolled over into your new car loan. 


In other words, you will continue to owe money on your old car even if you no longer own it. It's better to wait until you pay off your existing car before you trade it in and get a new one.