[astura]

>everyone who buys a car on credit is always “underwater”. The cars are never worth the balance of the loan

In my early years I once took out a loan for a car. I've never once been underwater on my loan. You're only underwater at some point if you put down a small/no down payment and pay the minimum amount due every month.

The topic of this article is people rolling the balance of their previous car loan into their new car loan. So they are underwater before they drive it off the lot, sometimes by a LOT. That's scary! Its basically running on a treadmill that always accelerates.