FAQ

Equity is the difference between what your vehicle is currently worth, and the amount of money you still own on the loan. This can be positive or negative. For example, if you owe $12,000 and your vehicle is worth $10,000, then you have $2,000 in negative equity. On the other side, if you owe $10,000 and your vehicle is worth $12,000, then you have $2,000 in positive equity.