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Glossary
Glossary of Automobile Buying and Financing | |
Glossary of terms related to automobile buying, leasing, financing, driving, and insuring. | |
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| Term | Definition |
| upside-down loan | Being upside down on a car loan or lease means that the current market or trade value of the vehicle is less than the current loan or lease balance. The difference between loan balance and vehicle value is called "negative equity." |
| Glossary V2.0 | |