Car Debt is Out of Control
ฝัง
- เผยแพร่เมื่อ 1 มิ.ย. 2024
- 🚗 Want to Start Your Own Car Sharing Business? Use Code OFFER100 to Get $100 Off -- www.thecarsharingmasterclass....
__________________________________________________________
▶ Resources I Use/Would Use:
💰 Need an Accountant & Bookkeeper? I Use Shared Economy Tax:
sharedeconomycpa.com/get-star...
🚙 Interested in Co-Hosting with an experienced Turo Host? This is the team I recommend: www.rentoutmycars.com
📍 Need a tracker for your car? OneStep GPS is the tracker I personally use: www.onestepgps.com/?Aubrey-Janik
🚘 Need more resources for buying a car? Get 20% Off with CarEdge: caredge.com/aubrey-janik-reso...
🎥 For more information on the gear/equipment/tools I use, check out my Amazon Storefront: amzn.to/3gBbxBE
🔧 Quality Parts for a Great Price; use code CARSHARE24 to get $20 Off Orders of $200 or more: bumpersthatdeliver.com
▶ For Sponsorship inquiries, please contact: kyle@smallscreenmarketing.com
__________________________________________________________
00:00 - Intro
What's up, you guys? In today's video, I will discuss the current state of vehicle repossessions and debt.
00:17 - Federal Reserve Bank
www.newyorkfed.org/medialibra...
02:00 - Delinquencies and Defaults
04:39 - Writing on The Wall
06:43 - Conclusion
08:12 - Closing
I hope you guys enjoyed this video; make sure to hit the like, subscribe, and the notification bell, and I will see you guys in the next video.
__________________________________________________________
FOLLOW ME ON INSTAGRAM:
/ aubrey.janik
SUBSCRIBE TO MY SECOND CHANNEL:
/ @aubreyhp
__________________________________________________________
#Debt #Repossessions #Defaults
![[TH] 2024 PMSL SEA GF D2 | Summer | ร่วมส่งแรงใจ เชียร์ไทยไปพร้อมกัน](http://i.ytimg.com/vi/dN2gLsCJ0T0/mqdefault.jpg)
The concept of living within your means is lost in this country. We live in a world where too many people think their value is in how much stuff they own. It is sad.
It’s also unforeseen bills that we don’t plan for. I was injured in a hit and run, inbetween jobs and didn’t have health insurance, went to a hospital because after making numerous calls to healthcare facilities felt it was my last option. The hospital did nothing to diagnose me and charged me $1400 for one ibuprofen. I had to quit my new job after a couple months because of the severe pain and do DoorDash full time, once my car insurance company found out my financed car was being used, my insurance increased by $150 a month
I attended several financial seminars. One thing stood out: People use their emotions to make vehicle purchases.
Women are also known to use their 'emotions' to make decisions... Lol
I'm glad I outgrew that thinking decades ago. My little paid for Honda Fit is fine. 38 - 40 mpg. Cheap, tires, cheap maintenance, Honda reliability.
@@lot2196I drove one of those for a few years. They’re great car and I love how the rear seat folds up to give you extra room.
probably the other thing my brother ever loved in his whole rotten life was that car. no shitter ever came between him and Christine. if they did - watch out!
So happy I bought my Lexus few years ago, had a 800 payment still just as happy when I bought it and I save every month. Step it up, capitalism is feast or famine
I've stuck to the hard rule of no monthly auto payment over $350/month (less than 5% of my monthly income), or finance term for more than 60 months. Also, never pay for any dealership add-ons that you don't want - no exceptions.
Or just no auto payments ever 🤯
I have taught my kids that cars are a complete waste of money. I drive a 2011 car. I could easily walk into any dealership and buy a new fully loaded F-150, but that would just be stupid. Now my daughter drives a 2011 Silverado. She recently had to spend $2000 on suspension and she gladly paid it. Because that’s just 2 months of car payments. She will have $10000 saved by driving this old car compared to a new one. Cars are just big toasters.
I fell behind on my car payments, once I got the funds to get caught up I immediately went to the bank. They charged off the loan and my only option is to pay the full remaining balance of $17k or surrender the car and still have the $17k on my credit report. The thing is… my ten year old EVs value has tanked and is only worth $3k in good condition. I have an appointment with a lawyer next week and pray he can help me get out of this predatory car loan. I’m 33 and will never be able to date or have children 😢 I just work and go home. That’s it.
student loan defaults aren't being reported right now, which is why its so low. BUT, they WILL start reporting defaults early next year, then you'll see defaults go way up.
How can this be? Everybody goes to college, gets a fancy dan high paying job. Is certified smart. Doesn't maintain their car, because they are too busy with their career. $1000 a month, pfffft.
Isn't it amazing. Colleges are pumping out the dumbest citizens in our nation's history.
If 10% of credit cards are in serious delinquincy then at least 20% must be maxed out
call me a cheap bastard, but im still driving the 1990 truck i bought in 2000 for 3k$.still passes annual state inspections & runs great.i did restore it over 4 years though.ready for another 200k.if its as reliable as the first 200k were, im set for life for under 10k & 4 years of spare time labor.screw those 85k$ unreliable money pits.i dont need 400 horses & 10 speed transmissions to haul what i need too.the funny part is all the offers i get to buy it.& its NOT for sale.4 years of my blood, sweat & cash in it.they can buy it when i die.
Buy now pay later is not reflected here, that's become an epidemic of it's own.
Nice breakdown of the information. Appreciate the video.
Thanks Aubrey
Doing our part to lower that number by saving and paying cash. Everyone with a car knows eventually it will wear out, start saving before it does. Buy what you can afford without borrowing money.
When I payoff a car I keep "making payments" into a savings account. This way if I need a new car I can pay cash or have a large down payment, ideally at least 70% of the sales price.
@@rogi827 do the same thing, bought a new suburban 2 years ago with mostly cash (paid off remaining in under a year).
I had dinner last night with 5 millionaires. The newest car among them was a 4 year old Audi A3. That’s rich people mindset.
Glad you came onto TH-cam, love your coverage! Keep up the good work!
1/3 of US people don't have 1000$ that's says enoutgh....
The student loan deliquescenies will skyrocket in November when the "grace" period expires.
When they were restarted there was a one year grace on deliquescenies from non-payment even if the interest increases. Many are refusing to pay.
If you are too stupid to buy a car then you are just what the salesman is looking for. You buy what you can afford and not your fantasy vehicle. Real world 101.
Keeping my 05 Ford Escape with over 190,000 miles screw new cars/ trucks they can rust on the dealer lot
I feel you, have a hummer h3 with 170,000 miles, I'll drive it till it can't be fixed, got friends driving up to 1,300 a month for vehicle plus insurance it's stupid.
Average car payment is around 800$ a month
I like your content. I’m also a BHPH dealer, what do you suggest for the 450 credit score to do? Public transportation isn’t a viable option.
This will always be a money maker for companies. One thing that will never change is a good portion of americans will always goes massively in debt to get a new material item like a car. It's just how people think. They think it will make them happy and impress their friends.
The delinquency rates for student loans is not correct. Delinquencies are not being reported, I don’t know all the details but look at the sharp drop in your chart.
Uh yeah student loan delinquency rates are paused till late this year, they’re not at record lows!
got a guy at work that's planning on buying a new car. Barely any down payment. I'm just like, you do you man. probably gonna be 600 bucks a month for a nissan.
Friend of mine had this issue he's paying 698 a month for a new Sentra, that's not with insurance either.
I have a point A to B🤣🤣🤣🤣
Dead on problem and getting worse hourly!
Time for US to use bikes.
Buy what you can afford bottom line
Save your money. Pay cash. It’s not complicated
What if they offer 0%?
They backcharge for the interest if you fall out of the zero percent term period.
No one really cares sadly. The Gov owes TRILLIONS and it doesn’t stop them!
Some people have no discipline whatsoever
Your hot and rich, won life
Third 😂
First
Scary to thi k a base model pick up is 50k. You could call uber to eork sn bsck an to grocery dtore then ehat it would cost to oen a 50k vehicle for 8 yrs the losn the insurance 2nd set of tires brakes etc. Insanely high. Ill be 66 this doon an i have never seen everything as high as now esp. cars houses food. Its just insane greed scrods the board in this country.
English
Second 😂
First!!! 😀
Thanks Biden...xD
For what?
Did you not watch the video, she literally provided graphs.
Look at the numbers now compared to the years under trump
But I’m curious what SPECIFIC POLICIES do you think caused inflation/debt?
Funny how the 20 states with the highest car payment delinquency are red states🤔
@@diegoharo7943 It was actually a joke, but rampant government spending, uncontrolled immigration, and continued involvement in conflicts the world over that have nothing to do with us.
Bidenomics.
lol you didn’t watch the video did you or didn’t understand the info
She literally provided a graph for you people, look at it
Bidenomics✌🏽