BAD MOVE: Mom, 28, forced to sell her dream car after forking out $40,000 in INTEREST alone over three years – as America’s auto debt spirals to $1.6 TRILLION.

Despite paying $1,400 a month in payments totaling more than $50,000, she still owes a balance of $74,000 to her lender – GM Financial.

Not only did she not make a down payment, she said she traded in a previous car on which she had fallen into negative equity.

Negative equity occurs when a driver owes more on their car loan than the vehicle is now worth. Sometimes, a dealer or lender can offer to roll the balance of an existing auto loan onto a new one, making it more expensive.

While rolling over debt into a new loan can seem convenient, it can be very dangerous and dealers have been known to not properly inform buyers that they will still be responsible for the remaining balance.

‘Honestly, it blows my mind that I have paid $50,000 into this car and only paid off $10,000,’ Arnold said.

She told DailyMail.com the loan was issued to her on the very day she visited the dealer – and that had an APR of 10.2 percent.

‘I did not go with my husband and as a female I feel they took advantage of me. They knew I really wanted the car and that I was by myself,’ she said.

The $84,000 loan was issued to her by GM Financial, the financial services arm of General Motors and the only lender to approve her on the day.

‘The dealer pretty much told me they can get me out the door with the car within an hour. He didn’t act like it was something I should be concerned about,’ she said.

I’m trying to think of a bad decision she missed but I’m coming up short. The implied supposition that the car dealer has the shopper’s best interest at heart might be the biggest though.