Randy , on those wrecked cars that were repos you were so confused about. I use to work in a impounds/confiscations department of one of these big lenders. Those cars probably had no insurance and were left at a tow facility or body shop. If the wrecked unit's value + the lot / tow fees was low enough where the bank thought they could make a profit of at least $2k, we'd pick up those units and remarketing would attempt to get as much out of them at auction. The craziest ones to pick up were the biohazard units...
Wrecked vehicles are not uncommon with repossessions. It's not uncommon for people who are not paying their car payment to also not pay their insurance premium and then get in an accident. Once the car is wrecked it's easy to find at the towing yard or body shop. As for the flood cars maybe their repo agency had a flood at their storage yard.
@@michaelporter3555 it's not always "easy" to find at these lots. We would get calls from tow lots years after the car was abandoned on their lot. They would tell us " we didn't know it was your car , that'll be $10k for storage". If that happens lawyers get involved or usually the bank tells em to keep it.
The Alfa 4c it's a very light car, it has a full carbon fiber monocoque and it has the 1750 TBi engine, which is a turbo 4 cylinders making 241HP. It's a great engine and it can be tuned. That car has a great handling.
So, I ran an Alfa Store when they first came to the States. These are really cool Mid Engine Rear Wheel Drive cars. The first 500 that came to the states were "Launch Edition" Cars and had plaques that denoted what number of 500 that car was (I actually had and sold #6 to a guy in New York). The car itself is super lightweight and has a full Carbon Fiber Monocoque (The Cabin). The Launch Edition came in 3 colors. Rosso Alfa (Standard Red 250 Built) Rosso Competizione tri-coat (Comepition Red 125 built) Madreperla White tri-coat (Pearl White 125 Built). I ended up with 1 Pearl white one that I put on Ebay and sold in 3hrs to a guy in Miami. If you get the chance, definitely drive one!
From Wikipedia: The 4C uses a new all-aluminium 1.75 L (1,742 cc) inline 4 cylinder turbocharged engine[48] producing 240 metric horsepower (177 kW) at 6000 rpm. The engine has been designed for minimum weight. The engine's combined fuel consumption 6.8 litres per 100 kilometres (42 mpg‑imp; 35 mpg‑US).[4] 0-62 mph (0-100 km/h) acceleration is achieved in 4.5 seconds (slightly higher for the North American version due to its increased weight compared to the European counterpart) and the top speed is 258 kilometres per hour (160 mph),[5] the power-to-weight-ratio being just 0.267 hp/kg (8.22 lb/hp).[49] A journalist from Quattroruote car magazine demonstrated how the 4C accelerates from 0-100 km/h (0-62 mph) faster than 4.5 seconds. In race mode, with left foot on the brake pedal, if you pull the right shift paddle the engine will rev to 3500 rpm, but if you also pull the left paddle the engine will rev to 6000 rpm and 0-100 km/h (0-62 mph) time will go down to 4.2 seconds.[50]
alfa romeo 4c Price range $44,000 - $65,000 MPG 24 city / 34 highway Engine 1.7 L 4-cylinder Horsepower 237 hp Transmission 6-speed automatic Dimensions 157″ L x 74″ W x 47″ H
Perhaps West Lake Services financed the floor plan for a used car dealer, and those vehicles were a repo from the dealer when it closed. Just a thought.
Randy, another reason could be if the owner owes too much than what the insurance gives them(what its worth), some people dont want to pay for something they can't drive. They have to get another car and can't afford both. Now with the auto industry falling out, people bought these cars at inflated prices. Might not be this case, but i've seen it numerous times.
Randy I really like your idea of doing some repo cars! This will be pretty interesting especially knowing what you have found in the past with them. The Porsche is definitely worth it. I don't mind the Santa Cruz actually it is great for light work probably. The 4C is cool but parts are probably hard to find and the white Nissan you showed didn't look to bad either. Appreciate the videos as always!👍
When the alarm was going off that was the Auction Gods saying stfu Randy the rambling is over the top!!! The content is great,great show just more music maybe and some other voices 😢😂
Always enjoy your videos. I learn a lot about all the different cars you talk about on the channel and appreciate getting to know cars a little better with each video you post.
Randy, in Texas that Malibu’s tint is legal. Jesse James from Monster Garage drives his Santa Fe all the time. Because, no one expects to see him in a Santa Fe.
Hey Randy, my friend, I just got done watching your Copart walk around from this morning that you posted you do a fantastic job every time you put a video out doesn’t matter if it’s at the your dealership does it matter if it’s at Copart does it matter if it’s him doing your bike reviews your electric bike for reviews you do a fantastic job. Every time we put a video out I watch them every single time and I can’t wait until the next video comes out. I get really excited when I see a new video of yours come out because I watch your stuff every single day. I even save them by doing them by text message, and. I save them that way and I rewatch the videos 3456 times a day but I also watch out for your new stuff too because you are one of my best TH-camrs out there in my book so but anyhow, I’ll be looking out for your new video tomorrow I hope you have a wonderful day and I’ll talk to you soon. See you man.
It's possible they had insurance, but not GAP insurance on the newer cars. The gap insurance (at least this is how it was explained to me) covers the difference between what the car was financed for vs how much it was worth at the time it was totaled. Most people are upside down in their cars, so when they get destroyed in an accident, they quit paying the note. I've owned a G Wagen before. They're pretty cool but mine got 13 MPG on it's best day lol. Plus I realized I didn't really need it in Florida. They're not too hard to work on if you're patient and you can get keys from MB with proof of ownership easily enough.
We have a 2016 Elantra. Never had a single issue with it. Hyundai and Kia have come a long way since I was a kid in the early 2000's. Back then, Hyundai and Kia were throwaway cars, not anymore. What they did with the older key start Hyundai and Kia, is reprogram the anti theft system.
It is a clue how the economy is like in USA right now. When you are buying cars to flip you have to know what the car is worth before you bid on them and be realistic what they are wort and not overbidding no matter how much you like it.
Randy I've watched your channel since the uberman days and I watched the video on being burned out and honestly my suggestion is One suction video a week and one at the shop or along those lines a week video with however many shorts in-between you prefer meaning like most you tubers you post 1 to 2 videos a week plus shorts ? Hope you keep making videos but hey Indiana is not a bad place but does that uncles house have space for a shop !
I have to vote no more Malibus. One of the problems with dismantling is the space you need to keep parts. A car takes up a 6x12 space. In pieces it takes up 10 times as much
as a former total loss adjuster for several ins companies. if we cannot settle with or make any contact with the owner. also if we cannot get any paperwork for title work from the owner. IF they have stopped making payments after the accident, the will be repoed..
I have enjoyed your content for a long time but it's purely entertainment. My best advice is to stop being so negative about everything. You're out there for the deal and the come-up.
sv is the highest trim i believe! :) + awd the rogue is greatif not sl is S is the base model edit: i didnt make it to the non existent transmission part lol
Just love how u said sob. Love it. This is what I'm after. Somthin to keep my hands busy. I love rebuilding. But if it's to bad I just keep for myself not sell to anyone I don't know. My back driveway is lined up with cars. That I want to keep. But my shop is full lol 😆. Not enough room. What should I do?
maybe some performance stats for sports cars, gas milage for ecos, you get the drift.mabe cost of ownership, how many on the road kinda out of the box stuff......maybe.
The Santa Cruz is called a "Sport Adventure Vehicle" I think they look like a giant Nike Shoe and I always see old people driving them, which I think its a great car for them.
Looking at the front of that little Mitsubishi it seems like maybe forklift or even bumping a curb caused the bumper to look like that, both sides of the bumper are pushed out and that gap between the bumper and the hood almost makes it look like the bumper is drooping down and needs to be lifted back up/maybe is missing some trim clips at the top of the bumper? Not sure just curious if it’s a simple fix like that.
I’m thinking repos aren’t going to be as cheap as Randy thinks! Issue is when Covid hit and people who needed cars and had to buy one paid Way more than the value and got a loan on it and now car prices came down so these people are so far upside down on those loans and value isn’t even close. The banks starting asking price would be what is remaining on that loan! Which most likely exceeds the value.
Maxima low mileage engine on car part for $750 - $1600 maybe $2k max but doubtful with 50k miles on it. Be lucky to get maybe $1200 for the transmission. I think they would have to sell pretty cheap to make much money. All though headlights and stuff like that sell for alot sometimes.
Randy we used to do that sell through a 3rd party if you were a buyer and you seen a dealership selling a unit that should probably be on their lot would you buy it?
What if the repo went bad and they crashed the car, I would think insurance won't pay if the car is already registered as repo. Maybe I am wrong, just thinking.😢 I guess we never know how insurance companies are thinking 🤔
Randy , on those wrecked cars that were repos you were so confused about. I use to work in a impounds/confiscations department of one of these big lenders. Those cars probably had no insurance and were left at a tow facility or body shop. If the wrecked unit's value + the lot / tow fees was low enough where the bank thought they could make a profit of at least $2k, we'd pick up those units and remarketing would attempt to get as much out of them at auction. The craziest ones to pick up were the biohazard units...
Thank you for the explanation man.
@@AutoAuctionRebuilds thanks for the content !
Clear, thanks
Wrecked vehicles are not uncommon with repossessions. It's not uncommon for people who are not paying their car payment to also not pay their insurance premium and then get in an accident. Once the car is wrecked it's easy to find at the towing yard or body shop. As for the flood cars maybe their repo agency had a flood at their storage yard.
@@michaelporter3555 it's not always "easy" to find at these lots. We would get calls from tow lots years after the car was abandoned on their lot. They would tell us " we didn't know it was your car , that'll be $10k for storage". If that happens lawyers get involved or usually the bank tells em to keep it.
The Alfa 4c it's a very light car, it has a full carbon fiber monocoque and it has the 1750 TBi engine, which is a turbo 4 cylinders making 241HP. It's a great engine and it can be tuned. That car has a great handling.
Randy: there's a cat what the hell is a cat doing out here
Me: obviously trying to find cars to flip duhh
🤣🤣🤣
the best part about this video: Randy Gets Scared Shitless by a loud alarm🤣🤣🤣🤣
Alfa 4C? Finally a car actually worth rebuilding.
The resale of a 4c isn't great, parts not available, and quite likely the carbon fiber monocoque is damaged.
It’s why it’s in the lot! Parts aren’t available or very expensive
So, I ran an Alfa Store when they first came to the States. These are really cool Mid Engine Rear Wheel Drive cars. The first 500 that came to the states were "Launch Edition" Cars and had plaques that denoted what number of 500 that car was (I actually had and sold #6 to a guy in New York). The car itself is super lightweight and has a full Carbon Fiber Monocoque (The Cabin). The Launch Edition came in 3 colors. Rosso Alfa (Standard Red 250 Built) Rosso Competizione tri-coat (Comepition Red 125 built) Madreperla White tri-coat (Pearl White 125 Built).
I ended up with 1 Pearl white one that I put on Ebay and sold in 3hrs to a guy in Miami. If you get the chance, definitely drive one!
last month CNBC reported car repossessions are up 23%!
Keep up the great content Randy! I am excited to see how this new idea with the repos go.
With the economy so great, not surprising seeing all those repos
"We did it joe"
Yet, the statistics don't lie. Unlike your messiah.
Kamala/Walz 2024 hell yeah!
Yeah about as great as the border has been going with people crossing and getting better treatment than actual citizens. Great job Joe and koala
Westlake Services is just another institution that finances vehicles.
Yep came here to say this. Looked it up on Bloomberg and called the California offices.
I believe they are part of Westlake Financial, a subprime lender. Which would make sense why there are so many repos sitting there.
Hey keep giving us great content 🎉
From Wikipedia:
The 4C uses a new all-aluminium 1.75 L (1,742 cc) inline 4 cylinder turbocharged engine[48] producing 240 metric horsepower (177 kW) at 6000 rpm. The engine has been designed for minimum weight. The engine's combined fuel consumption 6.8 litres per 100 kilometres (42 mpg‑imp; 35 mpg‑US).[4] 0-62 mph (0-100 km/h) acceleration is achieved in 4.5 seconds (slightly higher for the North American version due to its increased weight compared to the European counterpart) and the top speed is 258 kilometres per hour (160 mph),[5] the power-to-weight-ratio being just 0.267 hp/kg (8.22 lb/hp).[49] A journalist from Quattroruote car magazine demonstrated how the 4C accelerates from 0-100 km/h (0-62 mph) faster than 4.5 seconds. In race mode, with left foot on the brake pedal, if you pull the right shift paddle the engine will rev to 3500 rpm, but if you also pull the left paddle the engine will rev to 6000 rpm and 0-100 km/h (0-62 mph) time will go down to 4.2 seconds.[50]
Santa Cruz is a good compromise for the occasional truck needs with car ride quality and mpgs
This one did not have that much of extensive damages specially since it need full doors +door-cards on one side only..
I like the buying repos idea 😀
Good content
alfa romeo 4c
Price range
$44,000 - $65,000
MPG
24 city / 34 highway
Engine
1.7 L 4-cylinder
Horsepower
237 hp
Transmission
6-speed automatic
Dimensions
157″ L x 74″ W x 47″ H
I look forward to your vids daily bro, lowkey the highlight of my day lol just waiting or a 05-06 CRV to be shown on here lol
Also this nissan rogue has cvt transmission with many problems
You are the Howard Cosell of your profession. You hold a lot of information on vehicles. Hope you can can keep doing it. Love your channel
Perhaps West Lake Services financed the floor plan for a used car dealer, and those vehicles were a repo from the dealer when it closed. Just a thought.
Welcome to Bidenomics. Housing market is going to be the same.
100%👍🏻
Trump-Vance 2024
Kamala/Walz 2024, hell yeah.
I like the sound of your new project Randy.. Go for it buddy you can't lose here!!!
very enjoyable video Rebuilds, thanks👍👍
Good morning Randy 😊
Randy, another reason could be if the owner owes too much than what the insurance gives them(what its worth), some people dont want to pay for something they can't drive. They have to get another car and can't afford both. Now with the auto industry falling out, people bought these cars at inflated prices. Might not be this case, but i've seen it numerous times.
I bought one of those Mitsubishis for 17K, a 2024 brand new. Its a G4 sedan. These can't be beat for a commuter car. I get 55 MPG.
Randy I really like your idea of doing some repo cars! This will be pretty interesting especially knowing what you have found in the past with them. The Porsche is definitely worth it. I don't mind the Santa Cruz actually it is great for light work probably. The 4C is cool but parts are probably hard to find and the white Nissan you showed didn't look to bad either. Appreciate the videos as always!👍
Also there is westlake tires
They are the worst Chinese tires you can get. 👎
@@mikeschmalz5312 True
Keep up the great work Randy we love to see it ❤
I like your idea of bringing repos to the channel.
That Alfa Romeo 4C is a rare piece, just only for this reason it deserves to be saved...
When the alarm was going off that was the Auction Gods saying stfu Randy the rambling is over the top!!! The content is great,great show just more music maybe and some other voices 😢😂
Glad your still on..
Love the vids mate! Watch them everyday in Perth Aus
Hey Randy, for Nissan the SV trim is not base model, is more optioned. S trim is base with SR as sporty trim, SV mid level and SL as top trim.
I love the Santa Cruz but my wife and I bought the new Hyandai Santa Fe sel. It's now a whole new design and it 's a third row seating.
Always enjoy your videos. I learn a lot about all the different cars you talk about on the channel and appreciate getting to know cars a little better with each video you post.
The cat is looking for rats.
Hollow points aren't illegal, they're the preferred self defense ammo, armor piercing rounds are illegal
Randy thanks again for your videos. I love the content.
Randy, in Texas that Malibu’s tint is legal. Jesse James from Monster Garage drives his Santa Fe all the time. Because, no one expects to see him in a Santa Fe.
Hey Randy, my friend, I just got done watching your Copart walk around from this morning that you posted you do a fantastic job every time you put a video out doesn’t matter if it’s at the your dealership does it matter if it’s at Copart does it matter if it’s him doing your bike reviews your electric bike for reviews you do a fantastic job. Every time we put a video out I watch them every single time and I can’t wait until the next video comes out. I get really excited when I see a new video of yours come out because I watch your stuff every single day. I even save them by doing them by text message, and. I save them that way and I rewatch the videos 3456 times a day but I also watch out for your new stuff too because you are one of my best TH-camrs out there in my book so but anyhow, I’ll be looking out for your new video tomorrow I hope you have a wonderful day and I’ll talk to you soon. See you man.
Good morning Randy. The 2017 Chevrolet Malibu is a good looking car. The 2018 Ford F150 is a good looking truck.
It's possible they had insurance, but not GAP insurance on the newer cars. The gap insurance (at least this is how it was explained to me) covers the difference between what the car was financed for vs how much it was worth at the time it was totaled. Most people are upside down in their cars, so when they get destroyed in an accident, they quit paying the note. I've owned a G Wagen before. They're pretty cool but mine got 13 MPG on it's best day lol. Plus I realized I didn't really need it in Florida. They're not too hard to work on if you're patient and you can get keys from MB with proof of ownership easily enough.
I like the new idea you have the content would be neat.
yes variety, its worth staying up for like when i was a kid you know for the late movie, not the late late movie though.
We have a 2016 Elantra.
Never had a single issue with it.
Hyundai and Kia have come a long way since I was a kid in the early 2000's.
Back then, Hyundai and Kia were throwaway cars, not anymore.
What they did with the older key start Hyundai and Kia, is reprogram the anti theft system.
The 4cs are great little cars!
I wonder if the Westlake Services cars are floorplanned dealership cars where the dealer defaulted on their obligation
That would make sense
Yes! I want to see repo flips and I would like to see bio car flips.
The repos rebuilds pretty good idea.
Good idea i think you doing repos will work great. The Hyundai with the bed very strange. Man that Porsche wow!!
It is a clue how the economy is like in USA right now. When you are buying cars to flip you have to know what the car is worth before you bid on them and be realistic what they are wort and not overbidding no matter how much you like it.
Nice you set off the alarm that was funny
That blue Sportage is basically brand new as well but looks wrecked, wonder what happend to it would love a video from you Randy, thanks.
That would be a great idea to try and see if u can make money off of it
Randy I've watched your channel since the uberman days and I watched the video on being burned out and honestly my suggestion is
One suction video a week and one at the shop or along those lines a week video with however many shorts in-between you prefer meaning like most you tubers you post 1 to 2 videos a week plus shorts ?
Hope you keep making videos but hey Indiana is not a bad place but does that uncles house have space for a shop !
Absolutely Randy. Any content u put out is awesome.
I have to vote no more Malibus. One of the problems with dismantling is the space you need to keep parts. A car takes up a 6x12 space. In pieces it takes up 10 times as much
Randy I do like your idea of bringing repo cars to the channel
The Hyundai Santa Cruz is the Chevrolet avalanche copy but not as big. Randy I like the idea of buy repos and selling them.
Love your videos man
I’m look up what happened to west lake 😂😂 over 5 cars been submerged under water 😅
They probably stop paying insurance on it then got into a wreck and just let it go back
Hey Randy did you know them Nissan CVT Transmissions cost around $2,500 used
The Hyundai Santa Cruz can actually tow 5000lbs, a lot better than I expected tbh
as a former total loss adjuster for several ins companies. if we cannot settle with or make any contact with the owner. also if we cannot get any paperwork for title work from the owner. IF they have stopped making payments after the accident, the will be repoed..
Is there any way we can start getting update videos on what you buy and how much and if there’s anything unknown?
Westlake services is lender for small car dealership, buddy of mine had a few car repossessed
Hey Randy, I got a great idea by that G wagon and put a Chevy 350 in it
Randy, Mitsubishi Mirage are made in India, last I checked. So hood gaps may be the norm.
I have enjoyed your content for a long time but it's purely entertainment. My best advice is to stop being so negative about everything. You're out there for the deal and the come-up.
sv is the highest trim i believe! :) + awd the rogue is greatif not sl is S is the base model edit: i didnt make it to the non existent transmission part lol
The white Audi is like swamp Vette lol.
Hellow randy good to see you again buddy
Randy the driver door by the model number and tire info has a latch to open the back
Randy set the horn/alarm of lol. Surprised it doesn't happen more often on these newer cars.
I like the repo idea.
I happen to like seeing the Hyundai and Kia’s I just picked up a 2021 telluride
That Hyundai Santa Fe has potential 😎😎👍👍
Repoflipping sounds awesome as long as you make a profit
Repos sound great!
Digging the repo idea!
Santander wants too much for their vehicles.👍
Just love how u said sob. Love it. This is what I'm after. Somthin to keep my hands busy. I love rebuilding. But if it's to bad I just keep for myself not sell to anyone I don't know. My back driveway is lined up with cars. That I want to keep. But my shop is full lol 😆. Not enough room. What should I do?
maybe some performance stats for sports cars, gas milage for ecos, you get the drift.mabe cost of ownership, how many on the road kinda out of the box stuff......maybe.
Hollow points are definitely NOT illegal 😅
Definitely interested in seeing how reselling repo vehicles goes
Back when you started Randy I remember you getting a decent car for less than 1k that drove home
I am interested in the Repo content Randy 😎😎👍👍
The Santa Cruz is called a "Sport Adventure Vehicle" I think they look like a giant Nike Shoe and I always see old people driving them, which I think its a great car for them.
Looking at the front of that little Mitsubishi it seems like maybe forklift or even bumping a curb caused the bumper to look like that, both sides of the bumper are pushed out and that gap between the bumper and the hood almost makes it look like the bumper is drooping down and needs to be lifted back up/maybe is missing some trim clips at the top of the bumper? Not sure just curious if it’s a simple fix like that.
I’m thinking repos aren’t going to be as cheap as Randy thinks! Issue is when Covid hit and people who needed cars and had to buy one paid
Way more than the value and got a loan on it and now car prices came down so these people are so far upside down on those loans and value isn’t even close. The banks starting asking price would be what is remaining on that loan!
Which most likely exceeds the value.
Maxima low mileage engine on car part for $750 - $1600 maybe $2k max but doubtful with 50k miles on it. Be lucky to get maybe $1200 for the transmission. I think they would have to sell pretty cheap to make much money. All though headlights and stuff like that sell for alot sometimes.
Your assumption would be correct 3rd party.👍
Randy we used to do that sell through a 3rd party if you were a buyer and you seen a dealership selling a unit that should probably be on their lot would you buy it?
Alfa 4c would be slick
"Dogs and Cats, Living together! Mass Hysteria!"
What if the repo went bad and they crashed the car, I would think insurance won't pay if the car is already registered as repo. Maybe I am wrong, just thinking.😢
I guess we never know how insurance companies are thinking 🤔
I wonder if all those flood cars came up from Houston.
If it smells like money 💰... then that's gotta be a red flag to STAY AWAY 😂