I was in a position where I might loose my job. So I sold my car and paid off the loan. Didn’t mess up my credit score, no payments were missed. Then I bought a used car for $3500 cash, and drove it till I could set aside money to put big money down on a newer car. Paid it off and still driving it. Next car will be new with zero payments, straight up cash.
it makes 0 sense to get in debt for a fuckin car, like if you can't afford it just get a shitbox bruh, heck even repair the shitbox, it's going to be worth it
If it doesn't have bedrooms and bathrooms, don't spend $200k on anything!! You couldn't pay me to take a Lambo off anyone's hands for a variety of reasons. The 2022 Hyundai Tucson I paid $28K cash brand new gets me everywhere I need to go. Most importantly, it is PAID FOR!!
I get the basis of your statement. But, as your finances change, so does your taste. If you make 7 figures a year, the likelihood of you getting a vehicle that costs over $100k is very high.
Cars are overpriced. Luxury cars are way overpriced. People buy these things trying to flex and then act surprised when they take massive haircuts on their value. The depreciation on these things is breathtaking.
So you telling people not to go to the dealership because they might clown you? How bout don’t go to the dealership and waste sales staff and finance guys time when you’re credit is 450 and you’re broke. Take the bus!
Some folks dont no dat no credit is bad credit. I had 2 find out as a yung'n gettin laughed @ n da bank myself.but dey taught me wat 2 do n ive kept da same car ova 10 yrs wit exellent credit now
@@GT-43 Unless there are some awesome incentives like 0% financing for 4 or 5 years, why would you ever let the dealer run your credit, instead of your own bank or credit union?
Some dealerships and companies needed to move these cars off their lots so badly they were offering aggressive leasing, aggressive financing and long terms with no monthly payments as an incentive. They knew they'd gain you as a customer and get some money back down the road, but they'd rather lose a few thousand now than multiple thousands later.
People need to stop buying cars they cannot afford. I pay 230 a month but they wanted me to get a brand new car for 650 a month. I’m like I’m good with my 230 a month pay it off early
I feel for struggling people that are getting Corollas, Civics, Sentras, etc repoed, but if you get a Lambo or really anything over $35K repoed no one should have sympathy/empathy for you
Many people don’t know that if you fall on hard times you can call the finance company and tell them your situation and 90% of the time they would defer your payment for like 3 to 6 months depending on your situation because they really don’t want to repossess a car. So for future reference, it’s easy to save your vehicle. You say you lose your job or get laid off. As long as your payments are up-to-date and you don’t wait they will defer your payments for you.
my parents own several properties all paid in cash, they have 6 figures in liquid cash in several accounts, you know what they drive? a 15 year old dodge pickup and a 2000 mustang. Stop trying to look rich and end up broke.
@ I learned that from them I drive a newer car 17 cicic but own it with cash , have a house and money in the bank, I don’t need to buy a Mercedes like my neighbors because I don’t care what others think I have
Yup I drive a 2003 toyota and a 2000 F150 to my Investment properties I have over 20 classic cars but refuse to spend money of a depreciating asset I sometimes leave my house like I look homeless 6 Investment properties no debt more money I will ever spend d at this rate
Right with you here. Made $140k last year and own a 24 year old Toyota 4wd. Has 380,000km. Still going and does everything I need. I like cars but really could not justify allocating money to another car.
One should see a car as a mode of transportation that gets them wherever they need to go as opposed to it being some sort of status symbol. There are three main reasons why you couldn't pay me to take a luxury vehicle off anyone's hands. 1) Security reasons. 2) Lack of fuel efficiency 3) Cost of insurance.
During 2021, people were complaining about seeing the average cost of a car per month reached $1000 a month. That's because all these $35,000 and $40,000+ cars were getting hit with interest rates higher than 3% for the first time. 6%, 7% and 8% interest rates almost double those payments per month. Then the insurance prices went up. People who bought cars BEFORE 2021 were best to just keep them and pay them off. Chances are their MSRP was lower as was the interest - even though they'd get hit with higher insurance later on.
Some of the time people do this to themselves. It’s cool if you can afford it and I saw something about how they calculated what your net worth should be when buying these high-end luxury items. I think if you’re buying a 200+ thousand dollar vehicle you should probably be worth over $5 millionand have a strong income coming in as well.
Another great video. Thank you sir. This is truth and more people need to have their eyes opened. The clip of the young lady at the end was spot on. I make decent money and I am loving my Toyota and my Honda. My Toyota is already paid off and my Honda should be paid off in less than a year. There is no garbage in any of my cars and I keep them well maintained, clean and waxed. Despite owning them for a few years now, they both look and run like new. I also have a family and a house. That's pride of ownership right there. I hope more people watch your videos and make better choices in life so they can cut out on all the unnecessary drama.
They talk about Dodge because people loves the chargers and challengers. Like you said it doesn't matter what the vehicle is because life happens. I had my car repo before but I didn't let it stop me
I was in this predicament back in 93 ! they followed me to my job waited for me to go in and they flat bedded my truck. worst feeling but I new i could not keep up with payments on two cars... feeling sucks but you can always get a new vehicle
I don't buy cars unless it's to make money. A vehicle takes money from you and everybody is in your pocket, the State, city, Insurance, and repairs. I learned to do without it, I rent when I need to or Uber and Lyft. Getting on the bus is no problem for me. I live in a Major City, so transportation isn't a problem, I also have an e-bike which I use most of the time. People have to put priorities in place. I haven't had a car in four years and the money I saved is worth it. next car I buy will be cash or I'll have the money set aside to pay for it
No man. Save up 6k and get a reliable beater. Save up another 10k driving the beater and move to something decent. Sell the old car for the 6k you bought it for and invest that money, man. I drive a 2008 Honda Civic SI 4 door. I can total that car and replace it many many times before it puts a dent into my net worth. Sure, I drive older cars. But that also put me in a position that I can buy a car from a Ferrari dealer in cash if that were my thing.
Listen to these guys,20-25k be prepared to pay extra 15k in interest,I wish you the best,with your decision,it’s your choice, I done it twice won’t do it again
You are a wise man Hemi Muscle, I understood that long time ago through your videos which are not related to cars at all. The whole system is so rotten and so corrupt, it is amazing. Nobody cares about anyone or anything. Banks are thinking only about themselves, dealerships think only about themselves and people who are buying things they have no business buying in the first place are also beyond selfish and prideful who are not thinking about their families or even themselves. Be damned tomorrow or few months from now. Now and today is all that matters.
I really don’t feel sorry for people who put themselves in these predicaments. Especially those who want these luxury vehicles to boost their image & ego. If only they knew how bad they get clowned by the dealers they give their business too 😂😂😂
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I bought a perfect 1994 Dodge Dakota. Found a wrecked hellcat motor and trans. Went in easy. Just need a few things. It is a bit tall. But a grinder and a bolt on cal hood scoop fixed that. Was 6000 bucks. 57,000 miles. All together I've spent less then 10 grand and I love her. I know I do because I think of things I can do to her before falling asleep. 😂
This is why I'm sticking with the little $5000 cars you'll see off Market place. Sure I want a lamborghini(Kitcar) and Corvette but I'm not gonna go drop six figures on these cars and be in debt. its scary how people roll these days. Financing a 200k Truck? I remember when dealerships had a max they would allow you to finance. It's scary how people are literally buying into 2nd mortgages with these crazy car notes now.
5,000 more to stack, and I'll be going to purchase a tow truck for bank repos only.. thats where the money at.. so keep buying those vehicles... I'll see you real soon...😂😂
I sold cars at 1 point in time. If dealers get a reputation of re pos banks will disassociate with said dealers.A NISSAN dealer got blacklisted by NMAC because they sent too many jicky deals that went repo after 3 months of closing
whats good is at. the auction for the urus if the bank only need 120k for it to get the loan paid off they gonna price it at 120 if you the only one on it its good but u need to pay cash
Remember folks, most people you see driving around in nicer cars than yours can’t actually afford them. If you’re not paying cash, it’s the bank’s car, not yours.
Not to sound high horse. Either raise enough to get it back or just let it go and get something within your means, forget "putting on a show" until you truly can afford what you want...
That last clip is kinda right but also wrong, because people who have money like that also have garages and will keep their nice stuff in there. That's another sign of true money, being able to afford a place with a garage(s) so you're not street parking your expensive vehicles, just saying but I get her point most of the wealthy people I know don't car about falshy cars they just want comfort and reliability.
I knew some people back in the day who worked as repo men. When they offered finder's fees for luxury and hard to find vehicles, their best source of information on where to locate the vehicle came from ex-spouses/lovers or anyone who might have an ax to grind against the owner of the car. 😂
True. I try to keep that metric in mind. It's hilarious seeing the look on a dealer's face when I ask what monthly payment I'll wind up with if I put down 55% of the car's price on the spot. They stall, stutter or try to talk their way out of it. The last time I did that, the guy's boss overruled him and told me he had no issue. I had the car paid off in less than 17 months because the down payment was over half of the car's worth. I just don't understand people who get stuck with 5-6 YEARS of monthly payments. How is that possible??
The gal at the end of the video is 💯 right. I’m 43, me and my wife have 7 figures in assets, one child and we share a paid in cash 2023 model Y performance, we both work from home so we don’t need 2 cars. We rather invest, keep life simple, pay for our son’s college. it’s called being financially responsible.
Why don’t these people get out of the car BEFORE it’s repossessed? Yes you will still likely owe as negative equity seems mandatory for these situations but you could at least try and do something BEFORE your credit gets hit even more.
I have debt…I used three credit cards to get e-bikes and other things I need and use every single day… I didn’t buy go into debt for things that I don’t need.. My e-bikes get me to my jobs just fine. I grocery shop on my e-bikes just fine. People are just stupid but I love it and this is purely my form of entertainment!! Y’all keep this stupidly up!! I’ll keep watching!! 😂😅
I'm just glad that I was never into cars and I never owned one so I have no idea on how to even maintain one and this is why I never had a car note in my life. As a very simple man who lives solo who never got married nor had chikdren!?, life is very simple for me.
When you see us in a G Wagon most of the time, taxes. Supercars are the true car guys and are fulfilling a dream. Once you have the money, you look at a supercar and ask different types of questions. The very last one is can I afford it. Now, time to flex my 2018 ram almost 100k and nothing wrong. My 2015 hyundai sonata is 150k, with no problems. Also, it's a very well-known thing at supercars brake all the time. So if 10k out of nowhere will be a problem, the maintenance will destroy you alone, never mind a donut and actually using the car. What color is your Bugatti? No matter the color, it will cost about 300k for the car to sit. Tires, rims, fluids, etc. Ask the owners... they have expiration dates, used or not. I breezed kinds right by that, let me say it again. The rims have expiration dates!!! Fluids used or not!!! These people aren't listening. Oh, and you think you're going to just drive it anywhere too, huh? Unless in a city that caters to the wealthy... your driving in a list on 4 wheels of where you can't go. You just can't go in any drive you want. The driveway apron has to be designed for supercars. Man, these people aren't listening! Most people you see with supercars made WHOLE COMPANIES TO AFFORD AND MAINTAIN THEIR CARS!! YOU MF AINT LISTENING!!!
Some of these TH-camrs begin these expensive cars to make money off them for their content and that’s fine but you have to look at what you’re making and what you can’t potentially bring in or otherwise their car is gonna get repossessed.
No- I come from a multi millionaire family in a neighborhood without multi millionaire families. Not trying to “flex” just stating facts. There’s the occasional older guy who bought a corvette. Never drives it just washes it in his from Sundays 😂 every one else has normal cars. Like there’s no Lamborghini urus driving around because that’s why they have money. And the ULTRA RICH- they don’t even buy those things. It’s free for them so the dumb ones buy. Hope that was a nice nugget of knowledge
@ lol actually it’s probably their kids. You’re not allowed to block in your parents because they have to go to work 😂 unless you have a 3-4 car driveway. Then usually the oldests get those spots. But hey- I was trying to drop a dime on you- but your opinion is your opinion. Like my great great grandmother went to college in 1922. As a black woman- does oppression exist- yes. But at some point- you’re doing it to yourself. Maybe listen and think. And if you really want t know- “the help” isn’t usually allowed to park in front of your house. My my housekeeper lived in the maids quarters so idk. I could be wrong on that.
Did he say a 480 credit score??? I could never be a salesperson, especially a car salesman, because I would have taken that lady aside & told her the truth about the future she should be expecting if she "bought" it!
I can’t believe somebody bought a Wells Fargo edition Mustang and let it get repossessed. I live in a fairly spendy area, people drive regular cars, but for this area that’s like a BMW X5, Tesla, lots of trucks, Lexus, Honda accord, Jeep. But let me tell you they are not driving Lamborghinis, Ferraris, those cars are being bought by people that most likely don’t have much asset. Of course there’s always the people that walk in and pay cash for them, but their cars aren’t being repossessed of course. It’s nuts that people are spending as much on a car as they could for a house and then letting it get repossessed insane.
If you get into debt for a car; get a pre purchase inspection on a reliable used car, and pay it off within 2 to 3 years. And never get in over your financial capabilities.
My wife and I drive two paid off cars (my 2014 Wrangler 2 door with 150k, her 2011 Mazda CX-7 with 90k miles. We wanted a nice vehicle for our wedding weekend to take our family and wedding party around. After a $340, 3 day rental we returned the Jeep Wagoneer and moved on to our note free marriage. Rent nice cars every now and then for special occasions, do not buy them!
It's hard for me to make out everything being said with that music playing in the background. I can't tell where it's coming from, the caller or the guy taking the call, but it's annoying.
I never understood why would u pay 90k for a tahoe or suburban when escalade is literally around the same price it just makes more sense and u get way more for the moneyyy!!! And luxury options
Nothing wrong with enjoying the fruits of your labor, just know how much fruits you have. At the end of your life you cannot take anything with you but a casket
I was in a position where I might loose my job. So I sold my car and paid off the loan.
Didn’t mess up my credit score, no payments were missed.
Then I bought a used car for $3500 cash, and drove it till I could set aside money to put big money down on a newer car. Paid it off and still driving it.
Next car will be new with zero payments, straight up cash.
Good shit👍🏾
This guy's got it
it makes 0 sense to get in debt for a fuckin car, like if you can't afford it just get a shitbox bruh, heck even repair the shitbox, it's going to be worth it
Happiness is knowing what a car title looks like. 😂
Yeah, but did you loose your job?
If it doesn't have bedrooms and bathrooms, don't spend $200k on anything!!
You couldn't pay me to take a Lambo off anyone's hands for a variety of reasons. The 2022 Hyundai Tucson I paid $28K cash brand new gets me everywhere I need to go. Most importantly, it is PAID FOR!!
@davester1970 hyundai has alot of features that most luxury cars don't even have lol
That’s a REAL FLEX! and the new tusons are NICE!!! I almost bought it but I went with a 2022 Honda civic.
In 2002, I read about a rapper on the Death Row label owning a $150k Mercedes. His reason:
"You can't drive your house."
@ okay but you can live in your car 😂 listen we all have opinions but I’m open to learning. I can see the reasoning. Not the 150k part but the point
I get the basis of your statement. But, as your finances change, so does your taste. If you make 7 figures a year, the likelihood of you getting a vehicle that costs over $100k is very high.
Cars are overpriced.
Luxury cars are way overpriced.
People buy these things trying to flex and then act surprised when they take massive haircuts on their value.
The depreciation on these things is breathtaking.
The problem is people want to drive a status symbol, but they don't have no status.
Status is way overrated.
The truth teller!
@@DIYmotorcycle 😂
I repo in California, business is gold , been work for a month straight. Feel sorry for the everyone but it’s only business yall.
When they replace your business with robots and car subscriptions “government to you it’s just business peasant 😂
@@jazmeengoodat least he pays his bills. 😂😂
So you telling people not to go to the dealership because they might clown you? How bout don’t go to the dealership and waste sales staff and finance guys time when you’re credit is 450 and you’re broke. Take the bus!
Some folks dont no dat no credit is bad credit. I had 2 find out as a yung'n gettin laughed @ n da bank myself.but dey taught me wat 2 do n ive kept da same car ova 10 yrs wit exellent credit now
He didn't say that's the only reason to not go, but why embarrass yourself and still get nothing out of the deal?
Every time I go to the dealer to buy a car, i can hear them in the back celebrating and high fiving after they check my credit.
@@GT-43 Unless there are some awesome incentives like 0% financing for 4 or 5 years, why would you ever let the dealer run your credit, instead of your own bank or credit union?
I’d agree if even when i did have the money and credit know what I wanted came for a specific car on the lot the sale took 6+ hours still!!
10 months of no payments is wild 😅
Some dealerships and companies needed to move these cars off their lots so badly they were offering aggressive leasing, aggressive financing and long terms with no monthly payments as an incentive. They knew they'd gain you as a customer and get some money back down the road, but they'd rather lose a few thousand now than multiple thousands later.
People need to stop buying cars they cannot afford. I pay 230 a month but they wanted me to get a brand new car for 650 a month. I’m like I’m good with my 230 a month pay it off early
Never mod the bank's car
I feel for struggling people that are getting Corollas, Civics, Sentras, etc repoed, but if you get a Lambo or really anything over $35K repoed no one should have sympathy/empathy for you
35k is plenty for any average person, I'm tryna cash out on a tundra for 20k
Toyota/Lexus is definitely the the way to go for quality and reliability
The lady at the end is exactly right! People with money don’t spend it
Many people don’t know that if you fall on hard times you can call the finance company and tell them your situation and 90% of the time they would defer your payment for like 3 to 6 months depending on your situation because they really don’t want to repossess a car. So for future reference, it’s easy to save your vehicle. You say you lose your job or get laid off. As long as your payments are up-to-date and you don’t wait they will defer your payments for you.
my parents own several properties all paid in cash, they have 6 figures in liquid cash in several accounts, you know what they drive? a 15 year old dodge pickup and a 2000 mustang. Stop trying to look rich and end up broke.
same my dad still in his 97 sienna thats older than me. despite his 2m networth
@ I learned that from them I drive a newer car 17 cicic but own it with cash , have a house and money in the bank, I don’t need to buy a Mercedes like my neighbors because I don’t care what others think I have
Yup I drive a 2003 toyota and a 2000 F150 to my Investment properties I have over 20 classic cars but refuse to spend money of a depreciating asset I sometimes leave my house like I look homeless 6 Investment properties no debt more money I will ever spend d at this rate
Haven't seen a Dodge repo cause they all get totaled after PIT from the po po 😊
@@jamesd.9955 😂😂
Thought you were gonna say because they’re always in the shop, and repo can’t get to it 😀
😂
I used my work savings to pay off my 2021 Ford EcoSport. No more car payments
Personally I never had a car payment in my life but then again I never bought a car that cost more than 10 grand either
Yeah my dad is 85 and he’s never had a car note. 😊
Smart
Take note, if you lose your job the banks need tow truck drivers!
Don’t see any Toyota’s 😆 I make 180,00 a year and drive a 29,000 dollar rav 4
Right with you here. Made $140k last year and own a 24 year old Toyota 4wd. Has 380,000km. Still going and does everything I need. I like cars but really could not justify allocating money to another car.
I just bought a used RAV4 with 126,000 miles and gave my Corolla with 268,000 to my goddaughter for her first car.
One should see a car as a mode of transportation that gets them wherever they need to go as opposed to it being some sort of status symbol. There are three main reasons why you couldn't pay me to take a luxury vehicle off anyone's hands. 1) Security reasons. 2) Lack of fuel efficiency 3) Cost of insurance.
@@davester1970 I couldn't agree more
No sympathy for these people who paid outrageous prices, driving up the market. Smh.
During 2021, people were complaining about seeing the average cost of a car per month reached $1000 a month. That's because all these $35,000 and $40,000+ cars were getting hit with interest rates higher than 3% for the first time. 6%, 7% and 8% interest rates almost double those payments per month. Then the insurance prices went up.
People who bought cars BEFORE 2021 were best to just keep them and pay them off. Chances are their MSRP was lower as was the interest - even though they'd get hit with higher insurance later on.
All that ppp money ran out 😂
People that can afford Super cars probably aren't parking them on a street.
Have you ever been to L.A.?
What? Sure they do!
Some of the time people do this to themselves. It’s cool if you can afford it and I saw something about how they calculated what your net worth should be when buying these high-end luxury items. I think if you’re buying a 200+ thousand dollar vehicle you should probably be worth over $5 millionand have a strong income coming in as well.
Another great video. Thank you sir. This is truth and more people need to have their eyes opened. The clip of the young lady at the end was spot on. I make decent money and I am loving my Toyota and my Honda. My Toyota is already paid off and my Honda should be paid off in less than a year. There is no garbage in any of my cars and I keep them well maintained, clean and waxed. Despite owning them for a few years now, they both look and run like new. I also have a family and a house. That's pride of ownership right there. I hope more people watch your videos and make better choices in life so they can cut out on all the unnecessary drama.
They talk about Dodge because people loves the chargers and challengers. Like you said it doesn't matter what the vehicle is because life happens. I had my car repo before but I didn't let it stop me
I was in this predicament back in 93 ! they followed me to my job waited for me to go in and they flat bedded my truck. worst feeling but I new i could not keep up with payments on two cars... feeling sucks but you can always get a new vehicle
Urus is built on the same platform as a Volkswagen Touareg.
HM, I love watching you shaking your head.Mike the Greek
I don't buy cars unless it's to make money. A vehicle takes money from you and everybody is in your pocket, the State, city, Insurance, and repairs. I learned to do without it, I rent when I need to or Uber and Lyft. Getting on the bus is no problem for me. I live in a Major City, so transportation isn't a problem, I also have an e-bike which I use most of the time. People have to put priorities in place. I haven't had a car in four years and the money I saved is worth it. next car I buy will be cash or I'll have the money set aside to pay for it
Man im bouta finance a lil 20-25k car and save when you get a grasp on life you ain’t tryna throw ya money away no more 😂
No man. Save up 6k and get a reliable beater. Save up another 10k driving the beater and move to something decent. Sell the old car for the 6k you bought it for and invest that money, man.
I drive a 2008 Honda Civic SI 4 door. I can total that car and replace it many many times before it puts a dent into my net worth.
Sure, I drive older cars. But that also put me in a position that I can buy a car from a Ferrari dealer in cash if that were my thing.
@@michaelb4546 yea this my last finance I owe my self a more desirable vehicle after that I’m cash car for life I agree with you!
Getchu 5-6k car off market place and keep it pushing
Most r not good @@RocTaylor5
Listen to these guys,20-25k be prepared to pay extra 15k in interest,I wish you the best,with your decision,it’s your choice, I done it twice won’t do it again
It's not a sad feeling tho. If you don't pay, it gets taken away.....plain and simple.
You are a wise man Hemi Muscle, I understood that long time ago through your videos which are not related to cars at all. The whole system is so rotten and so corrupt, it is amazing. Nobody cares about anyone or anything. Banks are thinking only about themselves, dealerships think only about themselves and people who are buying things they have no business buying in the first place are also beyond selfish and prideful who are not thinking about their families or even themselves. Be damned tomorrow or few months from now. Now and today is all that matters.
2:40 Decently pretty lady comes across the board and bro starts immediately simpin' 🤣
😂
I really don’t feel sorry for people who put themselves in these predicaments. Especially those who want these luxury vehicles to boost their image & ego. If only they knew how bad they get clowned by the dealers they give their business too 😂😂😂
I’d be incredibly happy with a Chevy Trax or Equinox which are both within the 20k range, I don’t need an expensive-ass vehicle!
Never finance a car. If you do have a car and making payments, do everything possible to pay that car off as soon a humanly possible.
Financing a car makes sense only if you have the money to buy it cash, and you can get a rate below 1%.
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Just the beginning 😊
Hey Bro. How can someone get in touch with you for information about mopars?
At what point can it be taken? Like over 30 days? But ten months?
I bought a perfect 1994 Dodge Dakota. Found a wrecked hellcat motor and trans. Went in easy. Just need a few things. It is a bit tall. But a grinder and a bolt on cal hood scoop fixed that. Was 6000 bucks. 57,000 miles. All together I've spent less then 10 grand and I love her. I know I do because I think of things I can do to her before falling asleep. 😂
Repo nation. 💸💸💸💸
This is why I'm sticking with the little $5000 cars you'll see off Market place. Sure I want a lamborghini(Kitcar) and Corvette but I'm not gonna go drop six figures on these cars and be in debt. its scary how people roll these days. Financing a 200k Truck? I remember when dealerships had a max they would allow you to finance. It's scary how people are literally buying into 2nd mortgages with these crazy car notes now.
Mississippi, Alabama and Louisiana have the highest number of repo’d vehicles per capita
Man I need to find out how to get into the auctions
How does the repo vehicles have the keys to start it up 🤔
They just hook it up to the tow truck and haul it off.
These people dont realize the repo isnt the end of the line. Personal bankruptcy is.
Head down to Miller Motorcars, $134 cold hard cash down on a Bugatti Pur Sport.
Great eye opening public service video, Mr. Muscle. Keep up the good work.
5,000 more to stack, and I'll be going to purchase a tow truck for bank repos only.. thats where the money at.. so keep buying those vehicles... I'll see you real soon...😂😂
I sold cars at 1 point in time. If dealers get a reputation of re pos banks will disassociate with said dealers.A NISSAN dealer got blacklisted by NMAC because they sent too many jicky deals that went repo after 3 months of closing
whats good is at. the auction for the urus if the bank only need 120k for it to get the loan paid off they gonna price it at 120 if you the only one on it its good but u need to pay cash
I slept thru my repo man life lessons!!😂
Remember folks, most people you see driving around in nicer cars than yours can’t actually afford them. If you’re not paying cash, it’s the bank’s car, not yours.
I know a dude that has actual money, he drives a beater honda accord, no one would know, but thats how real wealth acts, below the radar.
When you see a decent amount of work trucks getting repossessed its an omnius sign...
And how do you know its hard to get out lol
I learned really early that "Stealth is wealth."
They don't repossess Dodge vehicles, they're just happy to get that garbage off their lots and they don't want it back.
HTF does the Mercedes have a blown back?
This gentleman is not gonna be big pimping it with a small budget like that!!!
@1:37 bro living in projects getting repoed smh
Not to sound high horse. Either raise enough to get it back or just let it go and get something within your means, forget "putting on a show" until you truly can afford what you want...
I have no car. No payments
I ride a bicycle. So blessed
That last clip is kinda right but also wrong, because people who have money like that also have garages and will keep their nice stuff in there. That's another sign of true money, being able to afford a place with a garage(s) so you're not street parking your expensive vehicles, just saying but I get her point most of the wealthy people I know don't car about falshy cars they just want comfort and reliability.
Who would buy any car with 100 thousand miles on it. The banks are going to have a rough time selling them.
If we had a hard time locating a vehicle, we would offer a finders fee. The biggest finders fee I saw was $5000 for a new mustang.
I knew some people back in the day who worked as repo men. When they offered finder's fees for luxury and hard to find vehicles, their best source of information on where to locate the vehicle came from ex-spouses/lovers or anyone who might have an ax to grind against the owner of the car. 😂
When it comes to luxury cars, unless you have twice the amount in the bank, then don't buy it. $100k vehicle, then have $200k in the bank.
True. I try to keep that metric in mind. It's hilarious seeing the look on a dealer's face when I ask what monthly payment I'll wind up with if I put down 55% of the car's price on the spot. They stall, stutter or try to talk their way out of it. The last time I did that, the guy's boss overruled him and told me he had no issue. I had the car paid off in less than 17 months because the down payment was over half of the car's worth. I just don't understand people who get stuck with 5-6 YEARS of monthly payments. How is that possible??
The gal at the end of the video is 💯 right. I’m 43, me and my wife have 7 figures in assets, one child and we share a paid in cash 2023 model Y performance, we both work from home so we don’t need 2 cars. We rather invest, keep life simple, pay for our son’s college. it’s called being financially responsible.
Why don’t these people get out of the car BEFORE it’s repossessed? Yes you will still likely owe as negative equity seems mandatory for these situations but you could at least try and do something BEFORE your credit gets hit even more.
I have debt…I used three credit cards to get e-bikes and other things I need and use every single day…
I didn’t buy go into debt for things that I don’t need..
My e-bikes get me to my jobs just fine. I grocery shop on my e-bikes just fine.
People are just stupid but I love it and this is purely my form of entertainment!!
Y’all keep this stupidly up!! I’ll keep watching!! 😂😅
I'm just glad that I was never into cars and I never owned one so I have no idea on how to even maintain one and this is why I never had a car note in my life. As a very simple man who lives solo who never got married nor had chikdren!?, life is very simple for me.
A Hot Shot truck is when they use their own personal trucks to haul cargo around the country.
Not necessarily their “personal” truck. You still have to get DOT numbers and have to abide by FMCSA guide lines.
When you see us in a G Wagon most of the time, taxes. Supercars are the true car guys and are fulfilling a dream. Once you have the money, you look at a supercar and ask different types of questions. The very last one is can I afford it. Now, time to flex my 2018 ram almost 100k and nothing wrong. My 2015 hyundai sonata is 150k, with no problems. Also, it's a very well-known thing at supercars brake all the time. So if 10k out of nowhere will be a problem, the maintenance will destroy you alone, never mind a donut and actually using the car. What color is your Bugatti? No matter the color, it will cost about 300k for the car to sit. Tires, rims, fluids, etc. Ask the owners... they have expiration dates, used or not. I breezed kinds right by that, let me say it again. The rims have expiration dates!!! Fluids used or not!!! These people aren't listening. Oh, and you think you're going to just drive it anywhere too, huh? Unless in a city that caters to the wealthy... your driving in a list on 4 wheels of where you can't go. You just can't go in any drive you want. The driveway apron has to be designed for supercars. Man, these people aren't listening! Most people you see with supercars made WHOLE COMPANIES TO AFFORD AND MAINTAIN THEIR CARS!! YOU MF AINT LISTENING!!!
Some of these TH-camrs begin these expensive cars to make money off them for their content and that’s fine but you have to look at what you’re making and what you can’t potentially bring in or otherwise their car is gonna get repossessed.
at 8:00 those cars on the street are probably people working there. Lol
No- I come from a multi millionaire family in a neighborhood without multi millionaire families. Not trying to “flex” just stating facts. There’s the occasional older guy who bought a corvette. Never drives it just washes it in his from Sundays 😂 every one else has normal cars. Like there’s no Lamborghini urus driving around because that’s why they have money. And the ULTRA RICH- they don’t even buy those things. It’s free for them so the dumb ones buy. Hope that was a nice nugget of knowledge
Coming from someone who had a housekeeper as a child. So I know what I know
@@hellothereyouall But I think it's doubtful that the millionaire families are parking in the street.
@ lol actually it’s probably their kids. You’re not allowed to block in your parents because they have to go to work 😂 unless you have a 3-4 car driveway. Then usually the oldests get those spots. But hey- I was trying to drop a dime on you- but your opinion is your opinion. Like my great great grandmother went to college in 1922. As a black woman- does oppression exist- yes. But at some point- you’re doing it to yourself. Maybe listen and think. And if you really want t know- “the help” isn’t usually allowed to park in front of your house. My my housekeeper lived in the maids quarters so idk. I could be wrong on that.
@@hellothereyouall It's all good and what you're saying makes sense. 😄
Did he say a 480 credit score??? I could never be a salesperson, especially a car salesman, because I would have taken that lady aside & told her the truth about the future she should be expecting if she "bought" it!
People are stupid. Buying cars they can never afford
Never mod the banks car!
I can’t believe somebody bought a Wells Fargo edition Mustang and let it get repossessed. I live in a fairly spendy area, people drive regular cars, but for this area that’s like a BMW X5, Tesla, lots of trucks, Lexus, Honda accord, Jeep. But let me tell you they are not driving Lamborghinis, Ferraris, those cars are being bought by people that most likely don’t have much asset. Of course there’s always the people that walk in and pay cash for them, but their cars aren’t being repossessed of course. It’s nuts that people are spending as much on a car as they could for a house and then letting it get repossessed insane.
The repo companies are having so much fun out here, why not give them more work???
People gotta learn to live within their means. Sheesh!
If you get into debt for a car; get a pre purchase inspection on a reliable used car, and pay it off within 2 to 3 years. And never get in over your financial capabilities.
The car marketvhas already collasped they just refuse to lower prices ,The car market has alreay set back to 2019 Levels or worse
True why go there and waste ur time if ur situation bad a complete waste of time no need going there.
My wife and I drive two paid off cars (my 2014 Wrangler 2 door with 150k, her 2011 Mazda CX-7 with 90k miles. We wanted a nice vehicle for our wedding weekend to take our family and wedding party around. After a $340, 3 day rental we returned the Jeep Wagoneer and moved on to our note free marriage. Rent nice cars every now and then for special occasions, do not buy them!
It's a valuable lesson Hem. Fo sho
1:36 He had his car out in the open bc he didn't get repo'd for 10 months. Got too comfortable!
The real info we need is if she learned anything from this - doesn’t sound like it. To caught up in how her car looks to other people. Sad.
That car was never yours to begin with
To get someone into a loan like that you have to be a real scumbag. Good to see a person at the dealership saying no way they can make this work.
It's hard for me to make out everything being said with that music playing in the background. I can't tell where it's coming from, the caller or the guy taking the call, but it's annoying.
You the man !
Took my 200k suv!!!
JK
People buy these cars to impress I call them shoebox cars
U can buy a brand new
Mitsubishi for $19,000.
I never understood why would u pay 90k for a tahoe or suburban when escalade is literally around the same price it just makes more sense and u get way more for the moneyyy!!! And luxury options
What? Have you seen the price of an Escalade today? It’s probably around 30 K more than that $90,000 Tahoe.
@patricktyler4712 ive seen new ones cost 94k
Lifestyles of the broke and desperate for clout..
Instead of saying "I got my car repoed "..say I bought a car I couldn't afford !!!
Nothing wrong with enjoying the fruits of your labor, just know how much fruits you have. At the end of your life you cannot take anything with you but a casket
4:09 Damn, very next truck was a Dodge. Poor editing or are you trying to be a clown?
I was referring to Hellcats and Scatpacks. I'm a grown man. Only a clown would ask something like that. 🤷🏾♂️