FORM TB-6 · EQUITY CHECK
Underwater escape plan
Owe more than the car is worth? Enter your numbers to see your equity and the quickest way out. Nothing is saved or sent.
Common questions
What does underwater on a car loan mean?
It means you owe more on the loan than the car is worth today. Cars lose value fastest in the first years, so a small down payment and a long loan make it common.
How do I get out of an underwater car loan?
Pay extra toward the principal, keep the car until the balance falls below its value, or make up the gap in cash if you need to sell. Rolling the shortfall into a new loan usually makes things worse.
Is this calculator exact?
No. It uses the value you enter and an assumed yearly drop in value, so treat the result as an estimate. Ask your lender for an exact payoff amount.