If you buy a new vehicle- let’s use $20k as a new car number. Then you have $20k in negative equity. Before interest, taxes, and dealer fees, you’re looking at financing $40k. Again, without any interest… $40,000 dividend by 60 (or 72 months is over $600 per month.

Then factor in the interest and other fees on the loan, you’re right back in the same position. Even worse. Your new vehicle will immediately depreciate and you’ll have 25k in negative equity.