What is an upside-down car loan and how do I get out of it?
Here’s how to minimize the amount of time you stay with negative equity.
5 min read
Nov 15, 2024
Rebecca Betterton
Writer, Auto Loans and Personal Loans
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3Years of experience
EXPERTISE
- Auto Loans
- Personal loans
- Personal finance
- Budgeting
EDUCATION
- Certified Financial Education Instructor℠, National Financial Educators Council
- Bachelor of Arts in Strategic Communications, Elon University
About the author
Rebecca Betterton, a Certified Financial Education Instructor℠, is a writer for Bankrate who has been reporting on auto loans since 2021. Through her writing, Rebecca aims to provide clarity and accessibility to the automotive loans industry as the cost of financing new and used vehicles continues to climb due to steep inflation.
She specializes in assisting readers in navigating the ins and outs of securely borrowing money to purchase a car, but recently widened her scope to cover personal loans and other debt topics. Prior to her time at Bankrate, she was a social media reporter and copywriter.
When Rebecca isn’t researching recent trends in personal finance, she is an avid runner and a lover of interior design.
Rebecca beyond Bankrate
Rebecca wants you to know
Rebecca understands the anxiety that comes with heading to a dealership. She is passionate about empowering readers to make informed financial decisions in the showroom through focused advice and guidance. Outside of that, she has spent the last year researching EV financing and trends to make it more accessible for all sorts of drivers.
Rebecca's latest articles
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How does the Fed interest rate affect car loans?
Does the Fed interest rate affect car loans? Yes, it does: It has a domino effect that can raise or lower auto loan rates.
3 min read Nov 07, 2024 -
How to save on auto loans despite a high federal funds rate
Fed hikes means higher rates — but there are still ways to save.
4 min read Nov 07, 2024 -
Gifting a car to a family member: 6 steps
Before gifting someone a vehicle this holiday season, consider the steps required.
3 min read Nov 07, 2024 -
Auto equity loans: What they are and who they’re best for
Rates are likely better than a personal loan — but it puts your car at risk.
4 min read Oct 30, 2024 -
Co-signer rights & responsibilities: How co-signing works
If you’re considering cosigning a loan, know your rights and responsibilities.
6 min read Oct 30, 2024 -
Credit Direct Auto Loans: 2022 Review
Credit Direct is a personal loan marketplace that lends both directly and through its trusted partner network to borrowers looking for loans.
5 min read Oct 28, 2024 -
What to do after buying a car: 8 steps
Take these four steps before you head out on the open road.
3 min read Oct 24, 2024
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Afterpay Buy Now, Pay Later: 2024 Review
Afterpay is a buy now, pay later app that has a loyalty rewards program and a 0% interest option when you pay in four installments.
6 min read Nov 27, 2024 -
How to transfer a car title
Learn how to transfer a car title and what to do if the title has a lien on it.
4 min read Nov 27, 2024 -
Yes, you can sell a car with a lien — here’s how
Selling a used car with a lien can be tricky. Follow our tips to maximize your sale.
3 min read Nov 25, 2024 -
How to calculate interest on a car loan
Calculate your interest payments and determine how much interest you’ll pay overall.
5 min read Nov 22, 2024 -
What is an auto loan and how does it work?
An auto loan allows you to borrow money from a lender in order to purchase a car.
5 min read Nov 21, 2024 -
What is auto loan refinancing and how it works
Refinancing can help reduce interest paid, lower monthly payments or both.
3 min read Nov 21, 2024 -
How does debt consolidation work?
It only makes sense to consolidate if you can get better rates or terms.
6 min read Nov 19, 2024 -
Should I buy a boat or rent one? Consider these factors
Buying or renting a boat depends on your wants, needs and financial situation when both options have pros and cons.
6 min read Nov 15, 2024