🌊 What are your options with an underwater car loan and bad credit?

Finn

This calculator provides a sobering reality check for anyone trying to trade in a vehicle when they owe more than it's worth. It completely replaces the original affordability template with meaningful new logic that models exactly how negative equity rolls into a new loan. The math is solid, but you'll want to be careful with the final verdict: it suggests trading in if the new monthly payment is lower, which can happen if you stretch the loan term out, even though that costs you much more in long-term interest. It's a great tool for seeing the true size of your new debt, as long as you look at the total loan amount and not just the monthly cost.

Reviewed v26.8.0