The "Trade-In" Trap: How I Ended Up Owning $45k on a Kia

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The "Trade-In" Trap: How I Ended Up Owning $45k on a Kia

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About this listen

I went to the dealership for an oil change. I left with a brand new SUV and a lower monthly payment. I thought I had won.
Two years later, I realized the truth: I had fallen into the "Negative Equity" trap.
In this episode, I explain how dealerships use the "Monthly Payment" game to hide thousands of dollars in debt. I share my story of rolling over an old loan into a new one, getting stuck in an 84-month term, and why I now owe $16,000 more than my car is actually worth.

We discuss:
- What "Negative Equity" (or being upside down) really means.
- The danger of 72 and 84-month car loans.
- Why you should never negotiate based on the monthly payment.
- How to get out if you are stuck in a bad car loan.

📄 Read the full breakdown and see the math: negative equity car loan

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