The Car Market Is Way Worse Than I Thought! Massive REPOS!
ฝัง
- เผยแพร่เมื่อ 11 ก.ย. 2024
- The Car Market Is Way Worse Than I Thought! Massive REPOS!
Our latest video helping you buy cars is all about car repossessions. We're breaking down the situation so you can buy your next car with ease. If you're out shopping for cars, SUVs or more, this video will help you with avoiding losing your vehicle due to cash flow or repos.
Oh yes, and don't forget to SUBSCRIBE for more car lovers lifestyle: / @markholubetz
They're helping to destroy the middle class... No working class man can afford these prices on trucks .
Exactly
@@markholubetz I thought I over paid for my 2012 F150 Lariat that I had custom built for me.. and that was 70g 🇨🇦
Need trump back in office
Dude. A regular camry is pushing 40k 😢
These companies a are going to find out which class of people drive the economy. Its not the ultra rich and its not the poor. The middle class made all this possible . Screw us over and your whole economy fails.
"The Federal Reserve System is not Federal; it has no reserves, and is not even a system at all. But rather an international criminal syndicate."- Eustace Mullins.
That’s fair
Dealers aren't selling cars, they're selling loans. And America isn't a country, its a corporation. The sooner we can come to terms with this, the sooner we can move on smartly.
Yes I agree, but too few people actually know what the solution is
Exactly. When stealerships try to penalize you $2,000 for being responsible & paying cash, you know the game is rigged & rotten
@@timmellow1353so you take the loan and pay it all off the next day
ppl convinced themselves that they need a $100k pick up truck for daily living
And the beds are never used lol. Somehow, ppl have been convinced through marketing that, as a man, owning a new, expensive pickup truck is mandatory. No, it's idiotic, and you're a sucker for buying into it.
They are crazy 🤪 😜 😳
When I bought my 2019 RAM 1500 Laramie new, I paid $47,5k out the door - sticker was $61,3k. For me, it's been a great family hauler and I'm already at 103k miles. As others have posted, even a basic Camry is $35-40k these days. Everything is just too expensive in general.
@@vietnamrebelI got a 2018 Toyota suv for like 21k with low mileage. It’s not a great price, but it was worth it. I actually was going to spend 40k a Tacoma but the salesman talked me out of it. I feel like the only vehicle I would ever pay over 40k for in the future would be Toyota make. American manufacturers use cheap plastic crap from China then charge you 90k for a Tahoe with heated seats. It’s always the people in trailer parks that have brand new Chevy pickups. Blows my mind
@@vietnamrebelfor 40k though with actual use, definitely seems like your case was justified. People buy those fancy Denali trucks then they sit in a driveway for 23.5 hours a day. The price of a vehicle I feel should only be about 1/3 of someone’s income level. You got fools making 100k a year that buy 90k trucks
Test drove a 2025 Honda Pilot touring. Quoted price of $73,500 (including taxes) WTF!🇨🇦
Absolutely bizarre
WHAT????THAT'S A NICE VEHICLE, BUT NOT WORTH THAT MUCH $$$
Yup. Don’t buy it.
Wow. I would have thought those were 50K at most.
Wow, that's insane, I got my 2024 pilot touring for 50k OTR
People stupidly overpaying for overpriced cars they couldn't afford. I don't feel sorry for them one bit. On a personal note I am keeping my 12' Altima that's been paid off for over 11 years until it dies. I will keep changing my CVT transmission fluid every 2 years and hope for the best.
Great plan and I am also running my old Ram as long as it goes too then I will worry about moving into something again. For now…..
The thing is, I can't tow my work related stuff with a smaller vehicle. Generally 1000 pounds cargo and 6,500 -7,500 pound trailer. Like you, I'd drive an Altima if I could. I'm not a truck guy. But chasing broken aircraft and needing to bring along large jacks and power carts, the F150 is the right choice.
Same here. 2011 Altima with CVT. It’s been paid for many years. I have 480k.
Ford is dead. No one is paying 80k for a F150
Certainly not many
@@markholubetz the four door mustang will be the icing on the cake, or lack thereof
@@Vader_1984 'Nail in the coffin' I think.
If they do, they are NUTS 😅
The thing is..... people are. That is why Ford refuses to really lower prices much.. because yeah they'd sell more units at lower prices but they are selling like 40,000+ trucks per month at current prices. So if they lowered prices they'd end up losing a ton of money on the 40,000 trucks they were going to sell anyway without any rebate.
Great video as always Mark, cost of living crisis is literally turning into the next Great Depression! Jim Farley, Carlos Tavares, and Mary Barra, along with many C.E.O.'s are truly out of touch with reality, and what the average consumer can truly afford. Take care my friend, cheers!
I own a 2013 Ford Raptor (paid off) 59k miles, a Jeep Wrangler Sahara Altitude (paid off) 43k miles and a Kia Optima turbo (paid off) 62k miles... I have no credit card debt, no spontaneous buying of garbage I don't need, and instead I invest $2500 a month into my ETFs/investments. I have a pension from the military and another from federal civil service. We live frugal today so the future is greener than ever.
Why are you telling us?
The Repo Man is working overtime.
Buddy is doing 30 to 50 cars a week here in Texas.
@@tdwilcoxtaxes is getting bad.my body moved from taxes to Pennsylvania
No sympathy for the manufacturers - no sympathy for the dealers - they're all greedy - screw them
they we'll get a banks pushed u loan higher rates
My blue collar salary gave me a really good life 15 years ago. Nice little house, fun car, no debt. Now, god forbid my car breaks down bad, or i need a new roof, because I'll have to go into debt. They literally stole my life.
Buy used and repair as necessary.
People can’t afford to fix it either
Used car prices creeping back up..
Seriously...? While that may be great advice for you and a few others, it's terrible advice for the majority of the population. Car wrecks, rust and electronics decay will take many used cars off the road. Do you suggest the manufacturers make and sell used cars? Everyone can't buy used cars as how does the supply side of that work? We need basic and affordable cars. Safety and emissions will add complexity and cost. There is still SO much that isn't needed. Cars could well less than half the cost and be much more repairable. They also need to stop getting huge and start shrinking again. Damn USA obesity at 40+%!!!!!
@@ToxicityAssured just buy a old Lexus or Toyota with no accident and not from the rust belt
This is as predictable as the sunrise. When you overpay for a vehicle in this high inflationary environment then the reality of paying for basic necessities come into focus coupled with you realizing you owe 20k over current value something has to give and that vehicle is the anchor holding you down.
From what I've seen over the years is that most pickup owners don't really need a pickup. They just want a pickup.
I rarely see anything being carried in one except for actual construction company vehicles.
As for my own needs I bought a utility trailer for that stuff. $500 used and virtually no maintenance. I can pull it with my daily driver mid size SUV and it can carry what most pickups are capable of. Great way to own a "pickup" without the hefty price tag of one.
I am a tradesman. I work out of a 2014 nissan sentra, and anything i cant fit in the trunk or back seat, or make 2 trips for, gets delivered by my supplier. I do this, because as a contractor making 6 figures, an extra 1600 dollars a month in overhead for an over priced computer (including insurance) doesn't make any damn sense. And i refuse to pay 25 grand for an 6 year old truck with 150k miles.
lol at 50k maverick. ford is crazy they're not a luxury brand
Yes I actually did not believe it when I saw it. Nothing short of insulting to the buyers.
And it has a 4 cylinder engine to boot!!! NO WAY would I buy a Maverick for that. Its a 25K truck to me.
Not even cab on frame.. it's glued together... and thats actually not even bad modern adhesives are really good... but they are also really cheap and those savings aren't being passed on to the consumer. They are charging top dollar for budget construction.
Given enough time to simmer car dealers will start to get desperate and then get even more desperate. To the point where they will offer stupid incentives and maybe lower prices to the point where people will start walking though the door. Main problem is most companies are dumping the affordable entry level vehicle and only focus on the higher end models with a boat load of options no one wants.
Yes that’s true, time will tell on when this will happen, but sadly there will always be those buyers that should not buy but do so and continue this cycle of ever increasing prices
@@markholubetz Then sad to say those people will be waving bye to that vehicle on the back of a tow truck.
Great info M, I just pulled the trigger on a 2014 GT, with a manual 6, because I didn't want that $700+ monthly payment for a newer one, and don't care about the new bells and whistles in cars today. Though the new GT's look mean, mine looks like the Bullet, though it's not an official Bullet Model. I just wanted a beast of a spotless engine that is reliable, as well as an interior that was in mint condition. This year it will see its first winter (I'm in Boston). But I had one back in 87'. It was an 86' GT, 5 speed manual back then. But I've loved the pony car since I was a kid in the 60's. Always wishing you and the Fam the best, and glad you're full time at this now! ✌️💚
I can't tell if that was a real bug or not..lol...Sounded HUGE!!
Haha yes it was a real wasp trying to get me, lol
@@markholubetz😆
I’m lucky enough to have the health to walk the 2.7 km walk to work in Edmonton. Only had to call a cab in the last 2 years. 20 cm dump earlier in the year! 59 years old. Subscribed to your new channel.
Once! lol
Get this my buddy out looking for a new or low millage f150 and half dozen dealers he visited won't deal. He said he'll with them and gm doing rebate and 6k discount. Can't believe they let a cash buyer out the door giving them the middle finger
They are looking for the lease or finance deal which is ridiculous
I believe your correct as he was a cash buyer and offered them fair money between trade and ave retail. These new 23s are already 18k off window after you drive it out. No one in their right mind will buy a 1 or 2 year old truck. My local Ford dealer gas a 18 f150 with small light duty plow on lot for almost 3 years now
Love the channel but if you’re going to use pricing in your videos, please post a disclaimer that your examples are in Canadian dollars
“LUNCHBOX JOE” says no to high prices for trucks! 😊😊😊. Keep up the good work Mark!
Thanks 👍 lol. Have a great week.
Appreciate your content. I was considering a Maverick for my oldest daughter. Kid works hard and deserves a newer rig.
Thanks for saving me the trip to the dealership. Way too much.
You are welcome, granted there are slightly lower cost base trim units but prices have crept up way too
Much from where there were supposed to be originally.
@@andrewwallace1596 also was looking but gap in front of windshield is 10" deep. Will fill with leaves and snow. Wat a job to clean out. So user un friendly
I’m sitting at the mechanic as I type. Front wheel bearings were needed for my 2003 f150 lariat 5.4 2v. With only 92k miles on her. I think the $289 charge is money well spent. Might be going on 22yrs old, no tech not much of anything compared to todays toy rolling iPads. Nevertheless my no payments and $82 month insurance. I’m getting all the future problems taken care of soon (rubber bushings)..My pre approval for new vehicles expires in one month. I can’t even bring myself to go to a dealership. Sellers remorse would outweigh the buyers. Ol peepaw will live forever.
P.s. We entered into parallel universe when the large hadron collider was turned on 😂
Yes that’s great the cost on these older vehicles and makes it far more affordable than much of these overpriced units on the market right now. I am enjoying my 2003 as long as g as I can
2003 is full of computers though...which eventually will cause issues...i think to get out of the tech..you would have to go into the early 80's or back to the 70's....if i can remember correctly, my old '86 f-150 was fuel injected...although it was simple and still easy to fix.
Really appreciate the honest analysis
You are very welcome
My neighbor just bought 2 1960s cars and got them running and driving. He maybe smart, easy to repair no electronics lots of parts.
Wife drives a 07 rx350 and I a 98 Toyota LC. Will maintain and repair whatever they need before I look at a car payment with todays market
Yes great to keep the older vehicles going as long as possible
Grateful I own a 8 year old car in full. I’ll drive it for a long time. Dreading the time when I have to go car shopping.
Good story and thanks for sharing.
Thanks for listening
Quality goes down but prices go up….no thanks. Haven’t bought new in years and probably never will. Buy 1 truck for $80K or 4 good used trucks for $20K each…no brainer.
The price of rent jumped up a lot which took the $$ out of the peoples budget which also the price of food jumped up too!
Exactly there is only so much to go around and people are stretched thin
If you're renting a place to live you have no business buying a brand new truck or car.. that's just stupid..
When you see car commercials and the guy in the ad says you can get into a new vehicle with financing that should already be a simple indicator that the commercial is telling you, you cant afford this vehicle. If anyone has to finnace that means you dont have the money. Here comes borrowing at huge interest risks. This is not difficult to understand. The system teaches you to be poor.
I have not had a new truck in 25 years. I deserve it!
Haha same it’s been awhile
23 for me. 'Just say no' for the crack pipe prices.
Great logic. I absolutely agree. Thanks for the video.
Thank you very much. Have a great afternoon.
Why doesn’t anyone ever hit on the fact that they are over pricing cars to offset the government making them build electric cars.
Great vids brother. I agree w you
Thanks very mucb
We all knew this day would come. The country has twelve months max before it’s completely bankrupt.
It was inevitable
Back in 2019 the average car payment was $380 a mo. Today all engines are less reliable and cost more to fix. Plus the payments are double. For what? So your screen can be 1in bigger.
Good video. Congratulations on the success of your channel. I’ve followed the channel for a while and I know you’ve really put in the work to get here.
I paid $28K for a 2010 Lexus RX350 10 years ago, it now has 187K miles on it, it is still as smooth and quiet just like a brand new. 😂🤩
Mark. I like the way you present your experiences. I like your channel. I am in Europe, different living style to N America. We all know. What always surprises me how Americans buy a car. Long story short. Recently I red the book Psychology of Money. It is more clear now to me. I do recommend this book.
Great video. Your insights are spot on. 😊
I really want an understanding of the Canadian used car market - Why is the amount of new car supply, used car supply, high interest rates, high repo rates etc not reflecting in prices? Yes, it’s gone down since peak Covid prices - But not enough to reflect the ‘chip shortage’ (Ya know, Toyota can’t deliver new vehicle but releases a new model every month) is over. Dealer lots are full. Cars aren’t moving. Make it make sense.
The Canadian market has a bigger separation from being reasonable than even the US. In the states, used EVs are very low cost yet here in Canada , used EVs are still closer to traditional depreciation curves.
Overall much lower volumes here and so to make quotas are much easier not to mention, what I am seeing is with the brutal dollar exchange rate compared to US, many used cars are sponged up by the American market especially for specialty vehicles and full sized trucks and SUVs so Canadians are trying to compete with their buying power.
Agreed!!
No deals to be had in the upper Midwest in the USA. All of these TH-camrs talking-up the sky is falling in the car market. What a fresh load of manure.
Simple. Supply and demand. The tides will eventually turn.
Great job, Mark.
Prices on mustangs shock me!!! Back in 2016, I bought a brand new mustang GT performance pack with Recaros, deep impact blue for $28k out the showroom floor inside the building….same spec car today is almost 70k…there’s no freakin reason price hikes up that much!!! I regret selling that car, but I did need a truck, hence my fully loaded 2016 F250 crewcab long bed XLT, only thing I don’t have is the leather seats and touch screen
People couldn't figure out that over $1000 a month was too much for their budget. That is not exactly genius thinking here. I can't say I feel sorry for someone who made a bad decision like that.
The price of full size pickup trucks are absolutely outrageous. You can buy a very nice BMW for the same price. They are going to price themselves right out of the market. I can see that in the next 10 years, sales are going to drop to the point where they’re no longer going to be the bread and butter of these manufacturers. Their greed is killing their golden goose.
Been seeing a lot of these videos. Also seeing a lot of videos about regional banks quietly going under.
WOW amazing TY so much ,,Keep up the great work,
Thank you! Will do!
VIP French fries cost $60. In Hollywood Florida
Haha that’s just a hair outrageous
@@markholubetz don't go to the casino off US1 in Hollywood FL
I was going to get a low mileage truck, they want 45,00$-50,000$. Bought a Corolla hybrid new for 27,500$ out the door instead. I’ll use the savings to buy a beat up truck to haul firewood.
I don't want anything fancy. You just can't buy a 10-year-old car for less than 12k. At that point, I'm seriously considering buying a brand new Nissan.
Come out west and buy a 10 + year old well maintained vehicle from a private party, no extra charges. I went out in July to look at newer vehicles. My driver is a 2003 Envoy that looks very sharp and has been well maintained with 136K. I also have a Jeep Wrangler that I bought from a dealer when it was six months old in 1995. It looks nearly new.
I set my goals, as a cash buyer, to find a late model unit for $20-22K. Of course, add on fees push it to $27-28K OTD. I found cars but they also had to be as comfortable as what I had. I calculated the saving for obtaining 30 + mpg, and realized, as a retired guy, I could never offset the fuel money saved. So, in another year or two, I'll take my scanner and experience with vehicles, and go to the Internet to find an honest seller with a good vehicle.
@@mrlaw711 Why are you telling us?
@@mrlaw711 Why are you telling us
These prices are outrageous and ridiculous.....old vehicles is the way to go until these companies wise up
2010 is the old bracket
Entirely
Car companies have gone INSANE!!!! All of of them. Nobody can afford this. I'm looking for a cheap new car, just as a grocery getter, so save the mileage on my truck. The Nissan Versa is the cheapest, but Nissan automatics are trash. So I have to get the 5 speed. It is less than 20k. So I guess I will look at them
i’ve found that the best deals are parked on someone’s lawn with a for sale sign
Another great informative video Mark
I am keeping my 4 years old car until wheels fall off
Sadly, most people do not have the finances to begin with that allow them down payments that will lower terms of their loans.
We’ll pay off a car…then you’ll have a decent down payment plus a bit of cash saved up to add to it…people were used to leasing and getting a new car every 2-3 years …leases on these nice trucks went from 550-625 a month to 850-930…not worth it no more …your better off financing it and buying it
Don’t forget they are writing 7-8 year loans now. This will end badly for everyone.
Nothing will happen. Car prices won't go down hardly at all. They know when it gets bad enough they will be bailed out again. Just like in 2008 cars didn't go down one dime and it was 100 times worse than it is now.
I bought a new suv in 2023 paid 64 after tax and all and six years loan at 1100. a month and I have 3 year and some left on it and let me tell you it wasn't easy .the good thing I have 10year Warranty .
General Motors on Tuesday reported a 37% gain in its adjusted pretax income, to $4.4 billion, for the second quarter of 2024.
LOL did this dude just get swarmed by bees!??!
Yes I did, lol
I just purchased a 2005 Mazda6 S Wagon-V6 with 142k miles for $3700 this weekend.
Ford f150 xlt 2024, o miles, upgraded wheel is 59,990 in my area, Houston tx
The prices are insane, where ever he lives.
Adults are kids with these vehicles. Did these adults not get Tonka trucks when they were smaller?
24k off f-150s right now.
30k off the lightning... yikes
Can someone please explain to me like a child how exactly a repo works? How many months can you go without paying? Is it jailable?
How long does it harm credit?
Can you purchase form buy here pay here after?
Thank you
As for how long you can go not paying: it depends. Most of the time it’s a month and your lender will send the repo man.
Before it’s repoed -and if you want to keep the vehicle but payment is too high-talk to a bankruptcy attorney who doesn’t charge money if you file the chapter that allows long term repayment plan for less than you’re paying. Attorney will get paid from the $ you send to the bankruptcy Trustee. Just name your vehicle lender as the only creditor.
If your car is repoed that will stay on your credit for about 7 years. But, after 3 years you can get loans, but at much higher interest, making payments too high.
The Buy here Pay here dealers charge high interest, so interest will end up being more than what the vehicle is worth. And you might get into another repo situation.
Also, having your vehicle repoed is not a crime/criminal matter. It’s a civil matter. You will not be jailed or fined.
@@CMBBmc-jd6ur thank you very much for detailed response. One more question
Say I keep the car
Go over my mileage and
At the end of the lease when
I go to turn it in I can’t afford mileage
And
Credit isn’t good enough to get approved
To purchase out my lease
What happens then?
A repo due to the miles?
Thank you!
Keeping up with the Joneses is so dumb. Why do you want to keep up with poor?
Paid $38K for my 2009 Lariat 4x4 V8 tow monster. Sadly recently totaled. A same-features replacement should cost $55,300. You know, little things like the trailer tow package, 3.73 or 3.55 differential, big V8, skid plates, HVAC leather seats, adjustable pedals, 36g tank, tailgate step, now $73K++. Local dealer will give a few grand off. Whoo hoooo, just kidding. Can't do that.
I had a 5.0 Mustang>>> I LOVED that car. I WISH I still had it. Me Bad
Funny no lower prices. No deals. $20k-30k over priced cars and trucks. I love watching the dealers going out of business. I love the banks losing money. Let it all fall.
Do we just let chev, dodge, and ford burn. Vote with your wallet folks. Thumbs up for yes
Cheers
i do loved the bronco.ill might get it used.if the price is right
When the people wake up and just quit buying new for a while prices will drop. Supply and demand. Simple.
Trucks start at $60-$80K.
Where can I find and buy one of the repo cars for cheap?
People are NOT stuck with $1200 a month payments! They signed the loan papers! They should have said NO! Stupid is what stupid does.
46% of America's tax revenue goes to paying off interest, economy is a shitshow. 😂😂
I use to ride buy dealers and look at what new trucks like now just ride by don't feed even look
Price of cars is not sustainable, at some point the prices will plummet. I've seen it before I'll see it again and that's when I'll strike or...I'll buy a horse
well said
the scum makers doubled the price BECAUSE of the interest rates. NO OTHER REASON. NOW. Screw them.
I live in the uk i'm 58 years old been driving 40 years . Never had a new car and i don't want a new car. I drive a 20 year old Renault Kangoo van it gets me from A to B and does 40 mpg. Don't give a crap about hey look at me i'm driving a new car.
5 % is not bad.car prices are bad
Cheers
hello handsome. Great channel.
Screw them, id rather walk.
Same
My 2015 Infiniti drives just fine. Paid cash to original owner. Bye bye dealers and banks.
A 4 banger Maverick for 50K plus tax title and license will bring you to $55,000. NO THANKS!!!! Its worth about 25K to me.
hurricane category 5
Didn't the gooberments bar repos from 2000-2022 or so?
Just look at Sri Lanka.
Just look at Kenya.
Just look at Bangladesh.
Well….
What do you do when your car payment is as high or higher than your house payment or rent? SOLUTION: part 1, buy a tool box fill it up and the get the repair manual for your car! SOLUTION: part 2, LEARN HOW TO USE THEM!
$ on the widow Now I know!
How many ppl have 80k to spend on a car.......nevermind on a not much option F150.
Not this cowboy. Simply too much cash
Is this a Canadian car channel?
Something is wrong with this picture. Don’t ever buy new cars you can’t afford in the first place. very fishy not even worth it.