The INSANE Interest Rate On My 2023 Corvette...

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ความคิดเห็น • 266

  • @bdsouza1977
    @bdsouza1977 11 หลายเดือนก่อน +91

    Imagine driving an old Toyota Corolla. Paid for in cash. No mods, no wraps, great fuel mileage and its all your needs. Imagine.

    • @Brandon-hx5xc
      @Brandon-hx5xc 11 หลายเดือนก่อน +18

      I imagine it'd be too much of a hassle constantly turning down the ladles wanting a ride.

    • @TheCemonthegreat
      @TheCemonthegreat 11 หลายเดือนก่อน

      ​@@Brandon-hx5xcif you need a fancy car to get ladies, you need to get your game right 🫡

    • @conquistador2
      @conquistador2 11 หลายเดือนก่อน

      Crazy lol

    • @ralphlazio505
      @ralphlazio505 11 หลายเดือนก่อน +2

      @brandon - Why would you want to “turn down ladies for a ride”?

    • @ralphlazio505
      @ralphlazio505 11 หลายเดือนก่อน +4

      @bdsouza1977 - Yeah; I agree bro. I own a 2005 LS and a 2010 ES and I have zero desire to buy a new car.
      All my younger friends have new cars; $800-$1,000 car payments… no thanks. I rather have money in my pocket and capital in my bank and go out on dates with girls and vacations, every year rather than be broke.👍🏼

  • @eddieknight8392
    @eddieknight8392 11 หลายเดือนก่อน +8

    Who buys an 80 thousand dollar car with a 1200 dollar payment with the intention of "loaning" it out to people on turo...........

    • @jaz2144
      @jaz2144 10 หลายเดือนก่อน +2

      Someone with no common sense.

  • @lioneye101
    @lioneye101 11 หลายเดือนก่อน +29

    The car market needs to have a 2008 type crisis. What dealers are still doing is insane. Car dealers shouldn't exist

    • @Floreypottery
      @Floreypottery 11 หลายเดือนก่อน +2

      It’s not just dealers it the makers msrp are sky high also

    • @endirrwiggins2494
      @endirrwiggins2494 11 หลายเดือนก่อน +4

      on its way....Don't forget Stock Market rise with increased interest rates.

    • @suttsd
      @suttsd 11 หลายเดือนก่อน +1

      ​@endirrwiggins2494 the stock market actually goes down with interest rate increases. The market is only now going up because inflation is starting to decrease. Increasing interest rates means debt becomes move expensive for companies to service which leads to a decrease in revenue which then causes stock prices to go down

    • @lioneye101
      @lioneye101 11 หลายเดือนก่อน +1

      @@Floreypottery Yah the dealers are charging avg 10K plus over MSRP

    • @michaelgray2987
      @michaelgray2987 11 หลายเดือนก่อน

      ​@@Floreypottery❤❤❤

  • @tbtb196
    @tbtb196 11 หลายเดือนก่อน +8

    Dealers here in AZ still think a Z06 is 75K over and C8 are 25K over. LOL saw a GT4RS for over 300K. Stealerships didnt have any problem gouging people for the last few years, so if the market collapses in on them they are just getting what they deserve.

  • @chrismanning1171
    @chrismanning1171 11 หลายเดือนก่อน +40

    I worked three years of overtime to save up for a down payment on my C8. Also, I sold my 2015 370z to help with the down payment. My plan was to not pay over $700 a month. My car is at MSRP and no extra charges. My allocation was accepted by the factory a few weeks ago. Hopefully my car will be delivered in a few months.

    • @STREETRACEN4U
      @STREETRACEN4U 11 หลายเดือนก่อน +6

      Congratulations!

    • @chrismanning1171
      @chrismanning1171 11 หลายเดือนก่อน +6

      @@STREETRACEN4U Thanks. My down payment is almost half the price of the car. That should help get a lower interest rate.

    • @majinbuu34
      @majinbuu34 11 หลายเดือนก่อน +2

      @@chrismanning1171did you take the maximum term length as well? I did a down payment plus an 84 month term for my 2021 C8. The daily interest is around 10 dollars. I have been throwing extra principal towards my c8 loan for months. I am happy that it’s almost gone at this point. The only thing I could do is refinance the loan because it’s barely a third of the original loan, to lower my monthly payment to a third of the original , but since my fixed interest is so small at this point my monthly payment is almost all principal, I’m probably going to just pay it off within the year instead.
      The finances in this video? Woof.

    • @livinglife3230
      @livinglife3230 11 หลายเดือนก่อน +4

      Congrats bruh! Got mine at MSRP also, put 10k deposit on my c8, think I have only 4 months left to wait. Seems like forever! Until then I’m working OT all summer til it gets here

    • @aw9085
      @aw9085 11 หลายเดือนก่อน +2

      congrats!

  • @chewie1869
    @chewie1869 11 หลายเดือนก่อน +13

    If you want the car more than the deal, you’re in trouble.

  • @Ovargas22
    @Ovargas22 11 หลายเดือนก่อน +19

    Great video bro. Never rush into a decision that can cost you thousands. Good learning experience for a lot of us. The car market is definitely coming down. No more chip shortage.

    • @MarkBrenner
      @MarkBrenner  11 หลายเดือนก่อน +5

      Lesson learned….

  • @rickmcdowell9550
    @rickmcdowell9550 11 หลายเดือนก่อน +17

    Don't feel too bad. When I bought my 1st home back in 1982 (long time ago) the going interest rate was 15% - 16%, - take it or leave it. My wife and I "took it". Inflation was horrible back in those years. We made a point to pay our house off in less than 10 yrs and did it. We celebrated for sure when we made our last home payment. Like I said, interest rates have been much higher than now. They could and probably will continue to increase. Good luck on your C8 sale. Just subscribed.

    • @ojames1983
      @ojames1983 11 หลายเดือนก่อน +7

      The biggest difference between 1982 and 2023 is the prices of everything is enormously higher and with wages that haven't kept up to the scale so interest rates hurt way worse now than back then.

    • @jimmyk6336
      @jimmyk6336 11 หลายเดือนก่อน

      Congrats, that'a what you call having a goal and following through with it!!!

    • @TheJohnmuzquiz
      @TheJohnmuzquiz 10 หลายเดือนก่อน +2

      But how much was a house back in the 80s? Like 70,000$

    • @rickmcdowell9550
      @rickmcdowell9550 10 หลายเดือนก่อน +1

      @@TheJohnmuzquiz You are right on. In the early 80s you could buy a very nice 3 bedroom 2 1/2 bath house or townhouse with a 2 car enclosed garage for $70,000. Unfortunately as Scarlett once said, those days are Gone With The Wind.

    • @garrettpittman7374
      @garrettpittman7374 10 หลายเดือนก่อน

      Yea this doesn't relate to today...no disrespect but it's nothing close to our economic situation...the way we are headed ppl are gonna be lucky to eat w full time decent jobs

  • @landonsewell81
    @landonsewell81 11 หลายเดือนก่อน +7

    Went to get the oil changed in my 2015 C7/3LT convertible that is paid for and dealership sales rep calls and ask do l want to trade it in for C8, l told him make it make sense for a man that just retired has a car thats paid off low miles for another car at $1200-$1500 a month. He said l perfectly understand. Can't believe what people are paying for these overpriced cars...SMDH

  • @jameshuntercox
    @jameshuntercox 11 หลายเดือนก่อน +6

    thanks for being real with us, I hope you continue on growing!

  • @martinzhang5533
    @martinzhang5533 11 หลายเดือนก่อน +16

    Credit Unions can give you 5-6%, which will make it much more reasonable. And it can go even lower if you do something like 36 month or shorter

    • @danielfair4675
      @danielfair4675 11 หลายเดือนก่อน +6

      The sad thing is that 99% of folks could never afford even a used c8 with a 36 month term.

    • @richki.24
      @richki.24 11 หลายเดือนก่อน

      @@danielfair4675 , true, shit payments will probably be $2450/month ...

    • @whatdoesnt
      @whatdoesnt 11 หลายเดือนก่อน +1

      Maybe in 2022, base Fed bank rate today is around 5.5, no bank or credit union is giving out high risk auto loans at or below base rate.

    • @Poopster4U
      @Poopster4U 11 หลายเดือนก่อน +3

      In 2019 GM gave me a 7% interest rate, a month later I refinanced at like 2.9% rate at a Credit Union. I bet we never see the 2% days again.

  • @splfordayz9050
    @splfordayz9050 11 หลายเดือนก่อน +10

    It's awesome that you are so open and honest about this and are treating this as a learning experience and admitting to getting caught up in the emotion. Most people can't and won't do that. I can understand your initial rationale, the C8 was a hot car and was selling, on average, over MSRP and used ones were selling over MSRP consistently. With Turo supplementing your payment it seemed like a good way to go, but things obviously changed.
    It's funny because I had ordered a C8 at MSRP and waited 6 months and then decided to cancel and get my deposit back because of inflation and high costs on everything. Even though I was going to put $40K down I just did not think buying an $80K car right now made sense. I am so glad I did now and I am hoping to get into a used C8 in a year or two when the market drops.
    Good luck!

  • @17thlegion41
    @17thlegion41 11 หลายเดือนก่อน +2

    Thank you for the honest information. Love the channel.

  • @jimmyk6336
    @jimmyk6336 11 หลายเดือนก่อน +9

    The moral of the story: Don't try to keep up with the Jone's, they'll pass you like your sitting still leaving you holding the bag...

  • @92coupelx
    @92coupelx 11 หลายเดือนก่อน +1

    Thank you for making this video and being honest, there's too many people that don't understand what they are truly paying every month.

  • @poker_18rs92
    @poker_18rs92 11 หลายเดือนก่อน +11

    I can’t imagine what the finance manager is thinking when you’re signing documents for an 84k loan for a car. I’m surprised they’ll actually let someone do that, it’s really sad. I do appreciate your honesty though & how you’re taking steps to get out of any long-term debt.

  • @kristiancustodio638
    @kristiancustodio638 11 หลายเดือนก่อน +6

    Thank you for sharing such a personal vlog I myself is thinking of buying a C8 and based on what I'm hearing from you I'd probably be paying as much as you on a monthly basis and now I'm having 2nd thoughts and really think waiting for a while till I jump the gun .

    • @ransom3057
      @ransom3057 11 หลายเดือนก่อน

      i was thinking about getting a C8 earlier this year too but decided that i’d need to have the entire value of the car saved up in cash / assets before i put some of it into the car. so now based on my plan and budget i’ll be able to afford it more easily in 2024. But absolutely trying to make sure i won’t pay over 750 in payments for over 5 years

    • @kristiancustodio638
      @kristiancustodio638 11 หลายเดือนก่อน

      @@ransom3057 nice your almost there .. actually during 2020 I got 1.99% interest when I financed my F type SVR I guess it is silly to think that I can get the same rate nowadays

    • @livinglife3230
      @livinglife3230 11 หลายเดือนก่อน

      Go ahead, U only live once. ONLY if U can get at MSRP. I put 10k deposit & have about a 4 more month wait. I’m working lots of OT as my motivation all summer & it’s too hot to do anything else. 🏎️💨💨💨

  • @c8miamicarclub
    @c8miamicarclub 11 หลายเดือนก่อน +7

    Wait till they crash your c8.your insurance will not pay for it being a rental car. You will be out of gas

    • @rickmcdowell9550
      @rickmcdowell9550 11 หลายเดือนก่อน

      Good comment - renting your C8 (if the ins co finds out) could affect future claims - if I was you I'd do some "research" on this possible ins matter.

  • @boomn216
    @boomn216 11 หลายเดือนก่อน +4

    That’s why you save up and pay cash.

  • @theponycargarage1453
    @theponycargarage1453 11 หลายเดือนก่อน +1

    Appreciate you informing your followers about the current market and LTV issues. I bet there are a lot of buyers in the same position. Good luck.

  • @usmanshahid2219
    @usmanshahid2219 9 หลายเดือนก่อน

    props to you for making this video; I saw your first video and was thinking some of the thoughts you said in here. Ultimately, I think its a good move to sell and get back in, shows your willing to address things and fix them when you know it doesnt make sense. I always have a rule, if you cant pay for half the car in cash at least, dont buy it. Not just for the interest but giving away hard earned cash is way harder emotionally then signing onto a loan

  • @Rome__king
    @Rome__king 11 หลายเดือนก่อน

    damn ouch bro that hurt me to hear man. Never the less! welcome to the Vette family brother

  • @notsogood6249
    @notsogood6249 11 หลายเดือนก่อน +10

    I hate to tell you this, but I warned you. Your loan is higher than what your Corvette is worth. Dump the Jeep as soon as possible and you will have to dig into your pocket to get rid of the Corvette. I have seen at auto auctions watching the values of used cars going down and down. Repos are coming in by the hundreds weekly. Now think of this...what about the people that paid that adjusted market value add-on. They will never get out of their loan unless they let it get back. Sorry to hear of your $$$ situation.

    • @roymoxley2587
      @roymoxley2587 11 หลายเดือนก่อน +1

      You sir are correct but u see some people for some dumb reason buy things that cannot afford Not Me , I have no debt other than taxes. And insurance That’s it

    • @johnnyrocco
      @johnnyrocco 11 หลายเดือนก่อน

      @@roymoxley2587 smart person. it took me years to wise up and get debt free, it feels damn good. saving cash to buy nice car when and not if, the bottom falls out of the car market. I'm thinking in maybe two years I will be able to buy the newer vettes, 2020 and up for 45k cash.

  • @zach1392
    @zach1392 11 หลายเดือนก่อน +4

    Sold my GT-R recently, got 8k over top offer from dealership to a private party, always try private party too! Also bought a C8 for exotic car rental business lmao
    Definitely takes money to make more money, better than holding in in the bank with low returns

    • @kevinupton900
      @kevinupton900 11 หลายเดือนก่อน

      Bank returns high af right now for people that were smart and made money instead of borrowing it for “ cheap” the last few years

  • @roymoxley2587
    @roymoxley2587 11 หลายเดือนก่อน +4

    Smart guy get rid of that debt before it breaks u

  • @docohm50
    @docohm50 11 หลายเดือนก่อน +3

    Most people I see with toys work very hard but never own anything. It's all one giant payment each month.

  • @samtx5518
    @samtx5518 11 หลายเดือนก่อน +5

    Ya better sell it quick! Unfortunately you’ll eat some of that loan

  • @kevingreen2428
    @kevingreen2428 11 หลายเดือนก่อน +4

    I get the strategy and the emotion of wanting the C8.

  • @Im-sure
    @Im-sure 10 หลายเดือนก่อน +3

    Perfect example of WHY you should pay attention in math class and maybe taking an accounting class… repeat after me me thanks uncle Joe!

  • @ryansmith9030
    @ryansmith9030 11 หลายเดือนก่อน +2

    Unfortunately, COVID era caused this and people were willing to pay more money than sticker price and pay inflated prices in general. If nobody payed these absorbent mark ups we wouldn't see the inflated prices we do today. I look forward to seeing the market flooded with vehicles people can't afford to pay for, This will correct the market

  • @lakingsman6
    @lakingsman6 11 หลายเดือนก่อน

    This makes me feel extremely fortunate for the deal I got on my brand new 2022 Ram Laramie 4X4 a few months back

  • @timwong580
    @timwong580 11 หลายเดือนก่อน +2

    I’m forty nine years old and they won’t even let me have a ca drivers license. Only thing I can do is live vicariously.

  • @Dwayne1266
    @Dwayne1266 11 หลายเดือนก่อน +3

    Thats crazy when i got my 2019 ram i was at 18% crazy i keep it for 2 years and refinanced it a 5% now i can see progress in the loan hope you find what works for you.

    • @Choke522
      @Choke522 11 หลายเดือนก่อน

      Wow glad u reduce that interest rate and yeah the loan balance going to drop better now

  • @yokaa69
    @yokaa69 7 หลายเดือนก่อน

    What was the age restriction you had for your c8 on Turo? I was gonna rent one out once I’m 26 but had to be 30 now I’m thinking of buying my own and rent it out on Turo at times like to make the payment at least. But it yours was renting out it doesn’t make sense to me why you’d get rid of it

  • @TheCemonthegreat
    @TheCemonthegreat 11 หลายเดือนก่อน

    Good video, thanks for the honest info

  • @ryanerice
    @ryanerice 10 หลายเดือนก่อน

    Respect the genuine content

  • @johnnyrocco
    @johnnyrocco 11 หลายเดือนก่อน +2

    How can you lose 25K on a car? Wouldn't you be better off just to keep it, pay it off?, drive it? You can never dig your way out of a debt hole by buying, then selling newer high end cars. Why did you pay a mark-up on the c-8 when so many are sitting on lots for sell? Just don't make good sence.

  • @daytrading5456
    @daytrading5456 11 หลายเดือนก่อน +6

    All sounds like doom and gloom but what revenue are you making on rental of the Vette? If you bring in $1500/month in rent you have a little cash flow, rent is covering the payment, AND you can write off the interest on the loan since it's a business. Interest costs will go down every month as the principle goes down. I wouldn't give up. BTW, you can write off the depreciation on the car too since it's a business vehicle.

  • @Ingrid777ification
    @Ingrid777ification 11 หลายเดือนก่อน

    Thanks Joe!

  • @richardbonilla7775
    @richardbonilla7775 10 หลายเดือนก่อน

    I got a new car 6 months ago, can I still cancel the extended warranty

  • @HowtowithPaulHenderson
    @HowtowithPaulHenderson 10 หลายเดือนก่อน +2

    Mark,
    Maybe you should wait on buying another vehicle until you find out how much you will have to pay out of pocket to close out those two loans. Otherwise you're going to be in the same situation as you are now. Plus when they run your credit report for a new vehicle loan they're going to see that you have 2 or 3 loans on file. You have your tundra, Jeep and a Corvette loan correct. You will need to wait until the 2 fall off to be able to get a decent financing rate. That's if you can....

  • @JR-hy2mq
    @JR-hy2mq 11 หลายเดือนก่อน

    Good luck great video. My 2023 Camaro 2ss 1le is no where close to the price of the C8 I paid $61k OTD no mark up but I put $31k down so I have a loan just a couple dollars short of $30k which put my payment to $496 a month. I was number one in line and got the call for allocation on a hellcat redeye widebody. I was going to be close to 100k OTD I backed out just to much money to pay for a fun car. It was hard to back out I could pay it my wife said get it if I wanted but it was just to much for a weekend type car. Don’t feel bad we all make decisions we sometimes that are not wise. Things will work don’t be down on yourself.

  • @Stonefactor
    @Stonefactor 8 หลายเดือนก่อน

    Great video, thanks for sharing.

  • @soga77
    @soga77 11 หลายเดือนก่อน +3

    sheesh 7.1% with 25k markup over msrp u got slammed and interest just went up again. Might as well return it to the bank and file for bankruptcy soften your financial blow.

  • @prestonshobe
    @prestonshobe 11 หลายเดือนก่อน +1

    How many times did you rent it out on Turo, and how much did you make per month while doing it?

    • @HowtowithPaulHenderson
      @HowtowithPaulHenderson 10 หลายเดือนก่อน

      I think turo is a bad idea. Kind of like Uber, yes they make some money but the wear and tear on the vehicle isn't worth it in the long run.

  • @kevinupton900
    @kevinupton900 11 หลายเดือนก่อน +1

    It’s beautiful that you’ve discovered the pain of financing. You just graduated in your “wiseness”

  • @sh_twelearnoverlanding
    @sh_twelearnoverlanding 11 หลายเดือนก่อน +1

    Sorry you have to sell. Hope you enjoyed it. The camera movement is too much sometimes…

  • @CJ-fh5xq
    @CJ-fh5xq 10 หลายเดือนก่อน

    Yeah we sold our 991.2 Carrera S for 94K. I gotten it back in late 2020 for $84K for 1.9%. Market is coming down hard and I am glad that I had my fun with it.

  • @DavidE-tj4rc
    @DavidE-tj4rc 11 หลายเดือนก่อน

    I feel your pain, brother. I am working on a lower valued car than you but feel the exact same way. You can't help beating yourself up.

  • @kickit59
    @kickit59 10 หลายเดือนก่อน

    Dude your car payment on that Vette is more than my house payment including interest, principal, property taxes & homeowners!

  • @ERIC_YNWA
    @ERIC_YNWA 11 หลายเดือนก่อน +1

    7.1% is very high. I thought my 1.75% interest was bad for a 30k, 48 months loan.

  • @donventura3844
    @donventura3844 11 หลายเดือนก่อน

    The interest rate is not bad considering current rates. The higher monthly paid interest is from the long term seems like he has a 10-12 year loan term

  • @Girlsontop21
    @Girlsontop21 11 หลายเดือนก่อน +2

    Love the video. Smart move, that interest is crazy. We care more about the Tundra anways lol. You will get a Vette again.

  • @Lavo68
    @Lavo68 11 หลายเดือนก่อน

    Interest rates up, better to be the lender. I took my new Tacoma truck money and put it into a 10 month CD @5.50% interest. I’ll earn a free 3k by May. Keeps me from doing something unwise jumping on an early 2024 marked up for peak demand. Hopefully the truck market is a bit more reasonable once the CD matures.

  • @yvetteinnes7770
    @yvetteinnes7770 11 หลายเดือนก่อน +1

    I really like the hat you have on the new one dude 😅😊

    • @MarkBrenner
      @MarkBrenner  11 หลายเดือนก่อน

      I appreciate you always!

  • @TheSushiandme
    @TheSushiandme 11 หลายเดือนก่อน +2

    Not bad. $1200+ is not a lot.

  • @TheRealRickyVirgo
    @TheRealRickyVirgo 10 หลายเดือนก่อน +1

    Hey brother ,I've been selling my cars to a company called Car Trackers, got my scat pack paid off even when it was negative 2 years ago, my wife's jeep Cherokee they are pretty competitive and flexible however they are in Cali

    • @MarkBrenner
      @MarkBrenner  10 หลายเดือนก่อน +1

      I appreciate it!

    • @TheRealRickyVirgo
      @TheRealRickyVirgo 10 หลายเดือนก่อน

      @@MarkBrenner ofcourse haha been in the same situation

  • @mikejautosandstuff3349
    @mikejautosandstuff3349 9 หลายเดือนก่อน

    I own a 2021 c8 convertible and a 2022 wrangler rubicon xtreme recon 392 and a 2022 Colorado zr2 and my total car payments are $1,900 a month!! It’s depends how much $$$ you had going into it. Nevertheless my house is only $1,100 a month 3% 😝 money down makes a world of difference. Good luck man.

  • @aw9085
    @aw9085 11 หลายเดือนก่อน +2

    build up a dividend portfolio, and once things get rolling good with that, go for the vette again

  • @whostosay3256
    @whostosay3256 11 หลายเดือนก่อน +2

    My friends cousin had her Mercedes repoed thought the Accord was beneath her. Choices

  • @TheBadGuy69
    @TheBadGuy69 5 หลายเดือนก่อน

    7.1% is a really good rate! Im looking at getting one at 10.25% lmao

  • @bobbernosky9215
    @bobbernosky9215 10 หลายเดือนก่อน

    Great honesty but the first mistake paying above MSRP !!!

  • @tywanjackson2320
    @tywanjackson2320 11 หลายเดือนก่อน +2

    Man, that's tough. My apr 3.25% on my home, and 3.74%on my 22 wb charger. I make an 114k yearly and thought about a hellcat. My dream car is the new c8 vette. But it wasn't logical for me to have a payment supercede my mortgage. I'm glad i don't live outside of my reality trying to keep up with TH-cam and social media. I feel like some really do live in the matrix 😎.

    • @mrwilliamwonder
      @mrwilliamwonder 10 หลายเดือนก่อน

      Imagine not moving and stuck where you're at.

    • @tywanjackson2320
      @tywanjackson2320 10 หลายเดือนก่อน

      @@mrwilliamwonder couldn't imagine who being stuck?

    • @ryants1
      @ryants1 9 หลายเดือนก่อน

      Yeah I’ve got my house payment at $2800 @3.25% and my c8 at $1,500 @7% rate. Pretty wild how expensive these cars are these days! Especially with the rates.

  • @itstheclarks
    @itstheclarks 11 หลายเดือนก่อน +1

    just remember trade in value and retail value is different

  • @HowtowithPaulHenderson
    @HowtowithPaulHenderson 10 หลายเดือนก่อน

    Mark I have to give you credit for making this video, it goes to show that these finance writers at these dealerships do not give a s*** but, Yes I have to agree with you. You Made a huge mistake buying both of those vehicles. I have to say amount you put down on the car of that price is way to low. I bet your total interest paid over the life of the loan if you were to keep it would be about 20 grand.
    Didn't you read the contract before you signed it, it's all there line by line dollar for dollar. And I can't imagine how much the vehicle insurance is costing. I hope you won't lose too much when you sell them.
    Should have kept your Silverado...now that was a beautiful looking truck.... I wish you luck on the sell of both of them.

  • @sebastianrios7735
    @sebastianrios7735 9 หลายเดือนก่อน +1

    Should have traded in both the Jeeps toward the corvette it’s could have lowered the value of the C8 by a cool $50k

  • @WolfRanger2008
    @WolfRanger2008 11 หลายเดือนก่อน +1

    Not to criticize just an English vocabulary correction , the word is IMPRACTICAL, not un-practical.

  • @fidbau48
    @fidbau48 10 หลายเดือนก่อน +1

    It's just a negative learning experience, the car rental business part didn't go the way he expected, sometimes to make it big you have to learn the hard way.

  • @timwong580
    @timwong580 11 หลายเดือนก่อน +2

    Fifteen grand more and you can get Porsches 911 base model new.

  • @andredaedone5
    @andredaedone5 11 หลายเดือนก่อน +1

    Young people mostly learn the hard way.

  • @f.davidbush9093
    @f.davidbush9093 9 หลายเดือนก่อน +1

    Thanks for the inflation Joe. Last thing we need is 4 more years of this.

  • @bajaoverland9286
    @bajaoverland9286 11 หลายเดือนก่อน +4

    Dude no disrespect whatsoever but these numbers make no sense

    • @vladone428
      @vladone428 11 หลายเดือนก่อน +2

      Looks like an 84 month loan for about $84,500 at 7.1%. The first month's payment must have included some additional interest, maybe because of when the loan started vs. when the first payment was made.

    • @bajaoverland9286
      @bajaoverland9286 11 หลายเดือนก่อน

      @@vladone428 yea i started thinking that could be after that cuz i was like theres no way a c8 corvette with mark ups and warranties is $600 with $600 in interest and only 5k down. But yea if the loan is interest heavy at first instead of evenly. Yea thats still insane doe idk how u would justify it

  • @jonathantaylor6926
    @jonathantaylor6926 11 หลายเดือนก่อน +1

    I'm assuming that is an 84 month loan too because $1,300 a month seems low considering the $5,000 "down payment" basically just covered sales tax and other fees. Smart for you to get out.. he who panics fist panics best.

  • @richieannarelli5714
    @richieannarelli5714 11 หลายเดือนก่อน

    We're is Phillips car dealership located thanks 😊

  • @AaronBrooks0321
    @AaronBrooks0321 11 หลายเดือนก่อน +1

    Thats not too bad. Don't backtrack, instead work on increasing your revenue

  • @criptomania4916
    @criptomania4916 18 วันที่ผ่านมา

    You should buy a car that you love but you can afford it also.There is a lot of people with money they don’t care about the price or monthly payments they just enjoy it

  • @drivingreview1578
    @drivingreview1578 11 หลายเดือนก่อน

    Can you put a price on the amount of enjoyment you received? The story you're able to tell? You're car enthusiast. Bad investments are part of the life. In the future, just try and find a balance.

  • @emmanuelossai5349
    @emmanuelossai5349 11 หลายเดือนก่อน +3

    Yeesh didn't know it was that bad with Repos

    • @MarkBrenner
      @MarkBrenner  11 หลายเดือนก่อน +1

      Isn’t that wild??

  • @damonjohnson5977
    @damonjohnson5977 11 หลายเดือนก่อน +1

    5k down on any car well about 60k is hilarious. I want one but i plan on putting down 25k.

    • @HowtowithPaulHenderson
      @HowtowithPaulHenderson 10 หลายเดือนก่อน

      I agree. On my 2019 Chevy Silverado. The sticker price was just under 34.000 dollars I put down 15.000 with a 4.000 trade in. With just under 7% finance charge.... Total finance would have been 5520.00. I paid it off in 12 months, I was not going to make 84 payments. So his interest would have to have been over 20,000 dollars. Wow that's just crazy.

  • @tonyfontana8222
    @tonyfontana8222 10 หลายเดือนก่อน

    I purchased my 2021 GMC Denali 2500HD new in 2021 for 78K 4.25 % $1,245 a month. Payments are relative to your income, so $1,245 is not a big deal for me.

  • @bigf1502
    @bigf1502 11 หลายเดือนก่อน +2

    Imagine paying 1200+ every month for a GM… and it’s not a Duramax… danggggg…

    • @stepheno.2730
      @stepheno.2730 11 หลายเดือนก่อน +2

      Imagine paying over MSRP for a base c8😂

    • @rickmcdowell9550
      @rickmcdowell9550 11 หลายเดือนก่อน

      @@stepheno.2730 Just my opinion - within the next 12 mos (say by July '24) you will be able to buy "non Z06" C8's from dealers for less than MSRP.

  • @MrJenten10
    @MrJenten10 11 หลายเดือนก่อน +1

    I bought a 2005 VW Golf TDI 142000 miles for 2,500.00,,,, seller said it needed a new transmission, my transmission guy said just needs solenoids and valve body, 800 bucks for the repair. I commute 100 miles per day 5-6 days a week, i now have 166,000 miles and she purrs up and down I 95 here in CT......

  • @W4SLLC
    @W4SLLC 11 หลายเดือนก่อน +1

    Lol 😂 why give up you can’t handle the pressure of what it takes to enjoy a beast 😅

  • @redstingraycorvette
    @redstingraycorvette 11 หลายเดือนก่อน +1

    I think you did like a lot of people did you got caught up in the excitement? At least you’re admitting it right now just take care of the problem and get out of it.

  • @mikelugo848
    @mikelugo848 11 หลายเดือนก่อน +1

    When I heard your final numbers I vomited and craped at the same time 😮

  • @ClaytonYatescarenthusiast
    @ClaytonYatescarenthusiast 10 หลายเดือนก่อน

    30k offer for the jeep is good

  • @benjamingondeck2359
    @benjamingondeck2359 10 หลายเดือนก่อน +1

    Did you not know the rates before you signed it my god wtf is wrong with people

  • @jasonconley771
    @jasonconley771 10 หลายเดือนก่อน

    Too many people buying grotesquely overpriced cars just to have them for a few months and sell them. That game is keeping the used car market through the damn roof. Because now people want more for the used car than it cost to order the new one.

  • @Magaeatsboogers
    @Magaeatsboogers 11 หลายเดือนก่อน

    Cars became like Stock, People purchased them at the high point, now its falling. Interest is going up driving prices down.

  • @youcdtube
    @youcdtube 11 หลายเดือนก่อน +4

    just pay cash

  • @jayholdusaFJB
    @jayholdusaFJB 11 หลายเดือนก่อน +3

    The car market is disgusting. I got into a Tacoma last year and got Toyota down to a 700$ payment which started at 1000-1100$ a month😂. But they sure beat me down in 4 hours to finally sign. But that shows how high they start right off the bat.
    I ended up selling it back to Toyota a year n half later. Took a bit of a loss. But now I’m saving about a grand a month between gas insurance and payment.
    I’m guessing with the mess dealers are in right now. Everything is going to crash and it’s going to be the best buyers market right n year. Just give it another 6 months. With people saving money with Christmas around the corner. Dealers are going to be begging people to buy cars.
    Dealers did this to themselves with the mark up in 2021-2022. Now they are too used to selling a 30k car for 50-60k😡. Now they are f*cked 🤷‍♂️
    Can’t forget Bidenflation either and the green new deal. The dems want dealers to become all electric but some insane date. Like 2030-2035. Which is just insane.

  • @mrwilliamwonder
    @mrwilliamwonder 10 หลายเดือนก่อน

    I was going to buy a corvette for cash, but decided to put 95k in bitcoin instead.

  • @rbfarrell1
    @rbfarrell1 11 หลายเดือนก่อน +1

    This is out of control. The new Corvette's are amazing i would love to have one but it is just another toy.

  • @Ricko1962
    @Ricko1962 10 หลายเดือนก่อน

    The American dream! Spend $2 for every dime you make! 😂

  • @jonathanwhitehead7378
    @jonathanwhitehead7378 10 หลายเดือนก่อน

    I have a 2013 genesis coupe and 2018 Suzuki GSXS1000 completely paid for. Not buying a new car for a couple more years.

  • @timwong580
    @timwong580 11 หลายเดือนก่อน +1

    Don’t really like the front end lower air dam

  • @thesoccertrotter1
    @thesoccertrotter1 11 หลายเดือนก่อน

    Why did you buy the cars if you couldn't afford them?

  • @j.r.r.toking
    @j.r.r.toking 11 หลายเดือนก่อน +1

    I was fortunate enough to learn how loan aggregation works at an early age (got hired by a mortgage company). My experience from that has helped me make better financial choices and understand the market in general. Even with that knowlege, it is easy to make a purchases you think are financialy sound but do not end up that way. Any loan you take the financer is going to be making a minimum of 60% off the top for the first half of the loan before the principal vs. interest rate starts to flip. Homes typically tend to retain and increase in value vs. automotives which decline absurdly as soon as you drive it off of the lot.

  • @74seeley
    @74seeley 10 หลายเดือนก่อน

    I dropped 45k down payment. My payment is 920 ish…..

  • @louistaylor6790
    @louistaylor6790 11 หลายเดือนก่อน

    Hey there your a young man, you only live once if you’re still alive and able to pay your not getting put out and your interest is not the worst in the world, your life is good. I’ll say this to you. Life is short you only live once. Ask yourself self this,if you had cancer or a uncurable disease that you have to live with for whatever time you were told you have on this earth would you make the decision to get rid of the Corvette or enjoy every day you have on this earth with the memories that you have any you enjoy in that car, which are priceless memories and priceless enjoyment don’t look at it as a financial burden. If you can afford it what you’re enjoying is something you’re paying for no difference to someone going on a cruise or to Paris that they can’t see after they’ve done it but is the experience that you enjoy?

    • @notmyname3883
      @notmyname3883 10 หลายเดือนก่อน

      So, I'm wondering what this young guy has in savings? 401(k)?
      He's financing THREE VEHICLES and lives in a crappy apartment.
      Seems someone has his priorities mixed-up, like most of America.
      Biden/Harris, '24.
      *that's a joke, of course.