Today I discuss the increase in car repossessions, what banks are doing about repos, and how repos will affect the car market!
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When car values decline by 45% or more is the next time I will step foot on a dealer's lot. Until that happens, I can drive my car for 20+ years. As Nancy Reagan said, JUST SAY NO to the car dealers.
Ya most people are stupid when it comes to borrowing money, and for a depreciating asset like a car ROFL. 🤣😂🤣
WHY…. BECAUSE BIDEN STOPPED OIL COMPANIES MAKING CHEAP OIL CAUSING INFLATION, YOU AMERICANS VOTED FOR HIS POLICIES,,, ENJOY. 🤣😂🤣
This is fear porn.
This is hard to believe. You mean people are buying new cars they can't afford? How dare these repo guys take back cars when buyers aren't paying their bills. DAH!
Yeah every 22 used GR86 has a lein on it, don’t wanna pay more for a repo car than a new one, yikes
My roommate has not made a payment on his truck in 2 years! No shlt! Repo's are obviously overwhelmed!
Car companies suck at making cars now
This guy is totally wrong in his math. If cars are being reduced to 2% a week then by 6 months cars would be reduced by 48%. Even at that the autos are still expensive. The guy is not facing reality. Just look on Facebook at the used cars ones that are wrecks. Look at how many list no carborators.
Why are jiggling around so much?
Leased cars are beat to crap. I had a friend who never changed the oil until he turned it in..He would beat the crap out it everyday…Told me he didn't care, it was leased and getting returned in 2 years..
We knew this weeks ago. Zzzzz
how many times can you say the same thing?
Call Uber it is a no Brainerd until depression comes this winter
Your talking the USA a fucked up country, why shold we care, as you so so shall you reep.
No one's buying used diesel trucks because of the fake diesel shortage con
Buy gold and silver coins , the dollar is being debased. Watch the hidden secrets of money on you tube. The government is lying to us . Our economy is in trouble.
Have a mint condition 2007 grand prix 175,000 km… over $7,000 was invested in the car from comp rebuild tranny to after market radio, headlamps, sin oil and other mech replacements parts in the last 12 months before i bought it for $4000…. It drives like a new car…
I was looking to buy a new vehicle earlier this year. The trade-in value of my truck fell off a cliff… While the asking prices for the used vehicles didn't come down at all, but now I'm seeing 10 to 15% drops in just the past few weeks.
Doing the shush sign that you are a fallen angel. Clever.
Easy to catch for me but human intelligence is a hoax. No one else is smart enough to spot you.
Do they have to disclose a used car as a repo when buying used?
Never buy a car from anyone that that you don't know who drove it. If it was going to be repossessed they will tear it up before it gets snatched.
What goes up must come down. I'll be buying my leased Silverado out at a yesteryear price thank you. If I turn it in they'll sell it for 10 grand more
I'm personally holding on my current vehicles. Not thinking of buying, upgrading or anything pretty much until this while economy ugliness ends. Things are so up in the air that no way anybody should be leasing/buying used or new. If you do you're putting your family's welfare in danger if you lose your job
I wonder if there is a stat on how many folks do a background check on a used car
4 minutes in and 2 takeaways; 1. I'm shocked that you even have a successful channel (I am assuming) explaining such common sense stuff. It just goes to show you how dumb the herd is. 2. Gap insurance doesn't work for values if someone can't make the payments. Gap insurance is for when the vehicle is a total loss in the event of a collision.
The rich stays rich by spending like the poor and investing without stopping then the poor stays poor by spending like the rich yet not investiing like the rich
About time you figured this out