Not surprisingly, the researchers noted, consumers with more equity in their car or truck appear more likely to protect that equity by making payments.

Negative equity - or owing more on your car than it's worth - is building, particularly in used cars bought by subprime borrowers, according to a new study called 'Finding Opportunity in Uncertain Times' by TransUnion and J.D.

In some cases, used car prices are going down more than they have in the recent past. The new and used auto market is moving farther away from the days of shockingly low supplies on car lots that contributed to skyrocketing prices. 'They often go and purchase a vehicle because they really need it,' Satyan Merchant, senior vice president of the auto business at TransUnion, told the Free Press. The outlook is most worrisome for borrowers with subprime credit scores who bought used cars as prices and interest rates hit a peak. And lenders are growing more concerned about people falling behind in their car payments, especially if that car drops significantly in value. The car you're looking to trade in - particularly if you bought a used car - could be worth far less than you'd imagine. Drivers who took on auto loans at high interest rates and paid sky-high prices for cars could face some headaches down the road as car values pull back in an economic slowdown.

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