DETROIT — As more car buyers try to lower their monthly payments by taking out longer auto loans, experts are seeing the number of upside down buyers grow.
Data from the Power Information Network, affiliate of J.D. Power and Associates, indicates that trend has increased over the past year. Research from Edmunds.com also showed more negative equity.
The news draws frowns from credit unions, which historically have considered auto financing a lead item on their loan menus, and at the same time want members to make wise financial decisions. But researchers point out this has happened before, and the market seems to adjust.
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