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Why you may just be renting your car even if you have a loan

 What to know

Auto ownership is becoming increasingly burdensome for American households, with many borrowers rolling over their debt into new loans. Edmunds reports a rise in negative equity among car buyers, exacerbated by pandemic-era shortages and high prices. Long-term financing and high monthly payments are common, making car ownership akin to long-term renting for many buyers.

Summary is AI-generated, newsroom-reviewed.

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How do you feel about the idea of "rent-ification" in car ownership, where you might always have a car payment and never truly own your vehicle?

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