Negative equity is a term that refers to when you owe more than what your car is worth. Many people run into this issue when they are shopping for a new car, truck, or SUV. Having negative equity can make it harder for you to get approved for a car loan or Ford lease. There are many reasons that people can have negative equity, but it is often because someone has a high interest rate and is paying down the principal of their loan in a slower fashion.
At Lithia Ford of Klamath Falls, our finance center is filled with experts who can guide you on how to deal with the impact of negative equity. We know that you want to have the best chance at getting your auto financing approved. If you think that you might have negative equity in your current vehicle, contact the finance center at our dealership today.