I'm in the market for a 2-4 year old used car and have so far found 3 cars I'm interested in buying. In every single instance the seller is upside down and is asking a ridiculous price. I usually offer around the Edmunds True Market Value price. They act insulted that I would offer less than what they owe on the car, which is usually around high book value, or more. These 3 cars have now been listed for 10 days, 42 days, and 51 days. They continue making payments and continue being upside down. Makes me wonder how many late model cars I see around town are underwater, I bet most of them.