The Expert Podcast

If you have faced a negative equity situation on your current vehicle, now may be a time to take a shot at trying to get out from under that upside down car loan. One of the things that can affect your negative equity is what the value is on your used car. According to Edmonds, one of the largest used car valuation guides, used car values have never been higher. Right now, the average cost, the average price of a three-year-old used car is over $30,000. It's never been that high before. It's the highest it's ever been because there's a problem with supply and demand.

What does that mean for your negative equity auto loan? Well, obviously an extra 2 or 3,000 on value will help you get closer to that equity position. You're still going to need to reduce the loan value. uh to get it lower. We can help you with that. Look, check out our website below. But you also want to get a used car valuation that is a resale value, not a wholesale value. You're never going to get full retail for your car unless you're a licensed dealer. The car's reconditioned. It's on their lot with advertising and sales people.

You will be back in your video in just a few seconds. In the meantime, remember that actualhum.com offers you live one-on-one private video consultation with an expert in this exact subject. We want to listen to your story. We want to hear your questions. We want to give you expert advisement of your options and tell you what we know about your particular situation. Now, back to your video.

You're not going to get that value. But most of the time, the offers you're going to get from a dealer or from an auction or online is going to be a wholesale value. You want to go to a source that will give you a resale value. It's going to be closer to retail value. And by getting that higher value, you can move up the price of your car, move down the loan balance, get that gap to be closer to zero or maybe at zero so you can get out from underneath your negative equity vehicle.

Maybe you need to get something bigger. Maybe your payment's too high. Maybe you have too many cars and you've been trapped in it. Look at the values today, but also just don't take a normal offer from a dealer tradein or from one of these online car buying places because they're going to normally offer you wholesale or maybe a little bit above wholesale, but not resale. And you want to get that network resale value so that you don't eat a lot of your equity in the vehicle and you don't have to take depreciation more than you have to. You can use our website as a resource for how to do this and we have services that can help as well.

Thank you for watching another episode of Actual Human Advisory on Describe TV. Remember, we have live one-on-one consultation appointments available at actualhum.com where you can book a one-on-one undivided attention live call with a licensed investigator, a licensed insurance broker, a licensed mortgage broker, real estate broker. Uh I'm also a certified real estate title examiner, a certified civil court mediator. along with having developed and started over 15 businesses, several of which were sold for millions of dollars. So, if you do have questions in any of those categories, you can arrange a one-on-one live video consultation. Use the link below and we'll see you on the next.