Upside Down is Dealership slang for Negative Equity. Who has it? Just about everyone, even dealership employees, so dont feel bad.
It is just a fact of life, cars depreciate. When you drive a car over the curb it loses value. If you buy from an individual, it still loses value. The only way to keep from being upside down is to:
1. Put Money Down
2. Pick a shorter term to finance; 48 months instead of 60
3. Do not Trade Too often
4. Make Sure You Get a Good Deal.
These are just a few ways to avoid negative equity. Another one is to lease your vehicle. Some say, buy what appreciates and lease what depreciates. You lease for 3 to 4 years and get the best life out of the vehicle, turn it in, and lease another. Why worry about ever owning it. If you do own the car, it is worthless by the time you are through paying for it.
If you are upside down now and are looking for a lender to finance your new car along with your negative equity, check out Roadloans as they will usually finance 125% of NADA Retail. This is more than most lenders will lend. This will make it easier to finance a car without putting a bunch of money down.