When you owe more than your vehicle is worth, you are upside-down, or underwater, on your car loan. This doesn’t immediately spell trouble, but it can result in less financial flexibility and security. You face two major risks: If you get into an accident, your insurance will generally cover the damage only up to the value...
from NerdWallet
https://www.nerdwallet.com/blog/loans/auto-loans/what-do/
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