vehicle equity

**Vehicle Equity**
Vehicle equity refers to the current market value of a vehicle minus any outstanding loan or lease balance on that vehicle. It represents the amount of ownership you have in your car, truck, or other vehicle. Understanding vehicle equity is important for making informed financial decisions, such as trading in your car, refinancing your auto loan, or using your vehicle as collateral for a loan. Positive vehicle equity means you own more than you owe, while negative equity (or being “upside down”) means you owe more than the vehicle is worth.