Some numbers released this month show car consumers digging ever deeper holes in their finances...
As a reminder, in 2016...
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... the average amount of negative equity rolled over into a new car loan stood at $6,659 in 2016
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And now the numbers from last year...
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In 2018 30% of vehicle trade-ins in Canada were in negative equity averaging -$7,051
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https://canadianblackbook.com/blog/c...-press-release
On the other hand, whenever I get into a newer car after driving my old-school winter beater Metro, I fully understand the siren call of a fresh (modern, quiet, refined, powerful) set of wheels. Fight the power!