Tackle Your Auto Loan Debt

As I said, the moment you drive a car, it immediately loses value. Basically, upside down means you owe more on your car than it is actually worth. This is bad news for a car owner who is having trouble making the monthly payments and needs to sell the car or is interested in trading in the vehicle for another vehicle because even if you get rid of the car, you will still have the debt. And, rolling that debt into a new auto loan is a recipe for only greater debt.