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Negative equity is standard with many new-car buyers.(The Dallas Morning News)
DALLAS _ Like thousands of consumers _ and probably tens of thousands _ Ivonne Reyes was upside down in the loan on her relatively new car.
Car-crash images aside, Reyes was stuck in a vehicle that was worth less than she owed. She had a Mercedes-Benz SL500 that she wanted to trade because it had "major problems."
But before she could get upright again, Reyes _ a sales representative for KTCK-AM _ had to put $22,000 down on a leased Ford Explorer and pay $1,200 a month for two years.
"It was hard, but everything turned out fine," said Reyes, 39, who bought a new Thunderbird last year and is now free of debt from previous cars.
Reyes' experience may be an extreme example of what the auto industry calls "negative equity." But it is hardly the exception.
Five or 10 years ago, about one-fourth of the typical new-car buyers in the Dallas area were upside down in the vehicles they traded in, dealers say. Today that number may exceed 75 percent, dealers say.
"It is an industry problem," said Don Herring, chairman of the New Car Dealers Association of Metropolitan Dallas and president of Don ...
- Negative equity is standard with many new-car buyers.
- Newspaper article from: The Dallas Morning News (via Knight-Ridder/Tribune News Service) February 25, 2002 700+ words
...previous cars. Reyes' experience...industry calls "negative equity." But it is...growing amount of negative equity. "We've...down deal." Reyes said she got...a while," Reyes said. Negative equity is a problem...
- New-Car Customers with Negative Equity Are Growing Problem for Auto Industry.
- Newspaper article from: Knight Ridder/Tribune Business News May 29, 2004 700+ words
...Moreover, consumers with negative equity pay an average of...Drastic action Ivonne Reyes knows those costs well...previous trades, Ms. Reyes was forced to take drastic...fine now, said Ms. Reyes, 41, general sales...business acknowledge that negative equity is a serious ...
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- News wire article from: Asia Africa Intelligence Wire January 6, 2003 700+ words
...rule of law, the stability of the currency and the plight of negative equity holders trivial matters. But there are many other fronts...entrepreneurs, businesses and consumers will do the rest. Alejandro Reyes, a former senior correspondent for Asiaweek magazine, is...
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- Newspaper article from: South China Morning Post January 18, 2006 700+ words
...Byline: Foster Wong and Peggy Sito Negative equity is on the rise, but this time around...is a lot brighter. The number of negative equity cases went up 3.45 per cent in the...increase in the number of cases of negative equity, or holders of mortgages whose outstanding...
- Negative equity hits one in six prime mortgages.
- News wire article from: Europe Intelligence Wire June 23, 2009 700+ words
...mortgages in the UK have fallen into negative equity, according to ratings agency Fitch...the most once-prime loans now in negative equity, said Fitch, with 32% of the mortgages...mortgages where one in five loans are in negative equity, said the report. In a geographical...
- Experts: Disclosing negative equity prevents lawsuits.(Insight)
- Magazine article from: Automotive News Harris, Donna April 17, 2006 700+ words
...issue of whether dealers should disclose negative equity in a car sale. Negative equity arises when a customer owes more on an...Inc., suggests that dealers can roll negative equity into the price of a vehicle for sale without...
- 4th Circuit rules PMSI extends to negative equity in car loan.
- Newspaper article from: North Carolina Lawyers Weekly Loranger, Guy April 20, 2009 700+ words
...s car loan debt, including the negative equity portion, the Fourth Circuit has ruled...assigned the loan to Wells Fargo. The negative equity was the difference between what the...the old car. As often occurs, the negative equity was thrown into their loan for the...
- No need to fear re-emergence of negative equity The slight adjustment to the...
- Newspaper article from: South China Morning Post November 16, 2005 700+ words
...South China Morning Post) The term "negative equity mortgages" has recently re-emerged...obligations, even when in severe negative equity. And second, the recent high loan...these high LTV borrowers in a slightly negative equity position. But for genuine self...
- Negative equity: Who bears most pain 70pc of affected households bought at 1997...
- Newspaper article from: South China Morning Post January 13, 2006 700+ words
...typical homeowner struggling with negative equity is a middle-income household earning...revealed who was carrying the burden of negative equity - where the outstanding mortgage exceeds...there were 106,000 properties in negative equity to the tune of $165 billion. "I...
- NEGATIVE EQUITY: 28% Of Rock loans now negative.
- Magazine article from: Mortgage Strategy June 29, 2009 700+ words
...Northern Rock borrowers are in negative equity, says Fitch Ratings. The ratings...worth #39.5bn - were in negative equity. This means that around 10% of the loans analysed were in negative equity and 15% by value. Fitch worked...
Source: HighBeam Research, Negative equity is standard with many new-car buyers.(The Dallas...