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Description
Cars are an asset that typically goes down in value.
Ivan Drury, with Edmunds, said just because you spent a lot more money up front does not mean the car retains its value.
That is one reason 1 in 4 new car trade-ins are worth less than the loan attached to them, according to Edmunds.
MORE: https://www.wthr.com/article/money/whats-the-deal/some-drivers-trading-in-new-cars-owe-more-money-than-theyre-worth/531-e83a33ae-1eec-4d87-a50e-f5125d3ea54a