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- เผยแพร่เมื่อ 24 มิ.ย. 2024
- CAR REPOSSESSION CRISIS! People Are Abandoning Their Auto Loans!
My name is Brandon and I am a used car dealer. I created Car Questions Answered to share the ins and outs of the used car market from my perspective. I share with you updates on car prices, what's happening at the dealer auctions, and what it's like being a dealer. My goal is to share information to help you make the best decisions while buying a car to save you money. I do not want car dealers taking advantage of you.
Thanks for watching and please feel free to leave any comments you may have in the section below!
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*None of this is meant to be construed as financial advice, it's for entertainment purposes only.
#UsedCarMarket #CarPrices #carmarket #usedcarprices - ยานยนต์และพาหนะ
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My aunt always trashed her cars and I remember when she had a new minivan under warranty that she took in because the carpet was pilling up. The dealer diagnosis was, “Carpet needs to be vacuumed ONCE in a while.” I had to stifle laughter as she asked, “What do they mean by that?” I’m thinking, “They’re calling you a slob.”
I keep tools in my car and know how to do a crude cleaning, so I'm fine buying dirty cars and would love to see more of them at low end dealers like his. They do need some reliability but go ahead and flip them as is for a few pennies and let the buyers clean them up, or slobs like me and her, not clean them up. This goes double for scratches and dents.
The sequel to "Dude where's my car", coming straight to Blue Ray is "Dude, why'd i touch that car?" - Directed and acted by Brandon
I don't know if it's all just the economy. I think a large part of the issue is that manufacturers and such are price gouging...taking advantage (and still taking advantage) of the pandemic to justify raising prices beyond reasonable. Just look at the profits and what the CEO's are making. Corporate greed taking from the little guy.
I plan on doing a voluntary repossession and getting something older. Car insurance has something to do with it I'm sure. Cost of housing as well. Since I got my car, the cost of insurance has almost doubled for me despite doing nothing different except driving less. Not only that but I'm almost positive wages have gone DOWN. Layoffs have occurred and plenty of those jobs have gone down. In cases where those jobs have not disappeared, I have seen wages advertised for the exact same positions go down. I do not care what anyone says, the economy is heading for something breaking. This isn't sustainable, and I'm convinced those who can do something are asleep at the wheel and will do nothing helpful. Not even won't do it....but not even capable of doing anything to help.
@@Palerider2023if you’re looking for a slightly older car, as long as your credit isn’t terrible it’s still a buyer’s market. I don’t let them think the first few deals they offer you are good and leave if the terms aren’t in your range.
if there was ever a time for a robin hood, this would be it
@@FortWorthRaised no, I'm buying from a private seller most likely. Lost my job, using my retirement to buy an older truck. Tundras or 1500 Silverados are getting cheaper. I'll be buying in a couple months and I will be coming extremely prepared. I'm watching the car market like a hawk right now.
Nobody forced people to buy cars they can’t afford, nobody forced people to live in places like California and New York. You can’t fix stupid.
A friends wife manages car repos for her credit union in Reading, PA. The $250 charge has increased to $450 due to higher risk, more trucks, and higher pay to their operators. Another real sign of the times... Another great video! Thank you!
If I had the ability to own a Lexus I would treat it like a prized possession. That makes me so sad to see a Lexus in that shape.
It's a overpriced Toyota
You'd be better off with a camry.
@@kenik2023
Still one of the best cars out their reliability and quality wise. So a Camry isn't a bad thing actually.
@@kenik2023The lower end Lexus sedans are more like a luxury optioned Camry. It costs more because it has more bells and whistles, more sound deadening, and yes also because of the Lexus badge.
That was an old worn out Lexus..
Car was over 20 years old
Probably the dealer who owns all those repo cars was charging between 25 to 30% APR. I have a guy at work paying 27%.
Damn, dude's paying credit card interest for a car. That's crazy.
They have to charge a high interest rate because these people are high-risk credit risk and they let sht. go back. They put themselves in that situation 😔
@charlesjackson1700 Sometimes. Other times people don't even know their credit, they just don't have enough cash so they look for a payment they can afford. They end up paying $2000 down and $200 a month for 5 years for a 12 year old Acura with 120k miles.
@@mc365mc That's true. A lot of those people go in with blinders on their eyes and never figure up what they will owe for the long term.. They will accept any numbers that the salesman puts on the paper and they are just glad to get a car.
Especially in areas with large concentrations of young military people. They are ripe targets for bad deals. I see a lot of young E-4's driving large new trucks here in Las Vegas. Where do they get the money?
Brandon, I work for an auto dealership group in Louisiana. In the month of may, we sold 167 new vehicles (GMC/Buick) of which 72 were 1500, 2500, 3500's. We are presently offering $14,000 off of Sierra 1500 Elevation and SLT packages and $8k off Denali and Denali Ultimate. Additionally we sold 124 pre-owned vehicles. We are in a city with a population of approximately 175,000. We are on track to sell as many or more for the month of June. We only have 2024's available and are awaiting 2025's. I enjoy watching you on TH-cam. The end of your videos are hysterical.... Keep it going. Tell Alex Hello!
True, not everyone is broke.
@@rotart12arx3
If Brandon said everything is good, no one would watch his vids.
All these people telling me how terrible things are but I'm not seeing it. Things cost more but we're still making it.
Lies
@@pedlpower The bottom 20% (maybe more?) of Americans are getting steamrolled. Anyone with middle class income is not getting their 10 year old van with 200k miles repossesed
Back in the day we called those things 'beaters'.
Repo'ing a beat up 250k+ mileage car is a sign of a cost of living crisis.
so sad sub prime charging 23% interest rate to low income and they are getting shitty car. me myself i could not sleep
at night. USA peeps people sleep at night they dont care
Years of cheap credit pushed up housing costs and made the car manufacturers think that everybody could afford their overpriced goods. When the Fed raised interest rates the illusion was shattered. Housing costs are still insane in most places. If you have to choose between rent and a car payment, you are in a world of hurt.
@@stevereimer5254what allowed for inflation was the shutdowns and government spending.
People had nowhere to spend money so people saved money, people got enhanced benefits while there were shortages
@@stevereimer5254 I'll take the car payment any day. You can't drive the apartment to work!
@@angie-xy5sf They have to make a living also, if people have to have a car then they must do this. So thank God there are dealers out there like this.
Here in AZ, most of the "Buy-Here-Pay-Here" customers that buy with credit, are those that either have no credit rating or a poor credit rating. These customers are generally living paycheck to paycheck. All it takes is a small blip in their income stream and then the car payment doesn't get paid.
Prices are not plummeting at retail level.
Actually continuing to rise up here in "North Country"!
My daughter just bought a repo and it was a RAM!! She obviously doesn’t watch your videos or mine!
I bought a couple of Dakotas in the late 90s. They were great trucks...when they weren't in the shop. I used to joke that these cars had more vertical miles than horizontal. I tried to warn my family off of them, so my nephew went out and bought two Ram 1500s. My sister bought a 2006 Jeep Commander, and my niece purchased a Cherokee. The Cherokee is the last man standing. Chrysler, Dodge, Stellantis make nice-looking vehicles with powerful engines, but they are not built to last.
@@mss627it amazes me that people with experience aren’t listened to. I guess they like making their own mistakes instead of learning from ours. I love my Dodge Magnum until it was out of warranty- I dumped it quick
@@mss627 It's been that way at Chrysler (aka Stellantis) since the late '50s. Poor quality control is nothing new with this company!!
When you buy a used car cross your fingers it wont`t need a repair
because if you can`t fix it yourself, they will rip off in the mechanic shop, and if you
buy a new one they will rip off the same with an inflated price. Greed my friend is
pandemic.
,
Yes and you would do the same if you could.
@@MrMarkmcfarlandNot necessarily true. Example: my daughter bought a pre-owned 2021 car at the beginning of the year. Part of the pre-owned warranty included 2 free oil changes. Brought the car into the dealer for a mechanical problem and she was near the mileage for the oil change so she had it done at the same time. We go to pick up this morning and there’s a charge for the oil change. I suspected they were going to try and play games so I went with her. Go to check out.. there’s an oil change on the bill. I ask the cashier about it and she said “only if the light is on”. Funny how the sales guy never mentioned that little caveat which I’m sure is non-existent or buried in fine print. I went to the service advisor and complained and it got taken off the bill. Moral: You choose how you conduct business. You can be honest and do the right thing by your customers as my mechanic does or you can act like the dealer. If you’re an honest, upfront business you can charge a price premium and your customers won’t complain because they trust you. I’ve been going to the same mechanic for 35 years and he is not the cheapest but he is honest and stands behind his work. For example..I know he has a 22% parts markup and when he explained it to me, I understood and accepted it (warranty issue… if the part goes south even if he can exchange the part he has to eat the labor costs to replace it).
Yet they blame Biden for corporate greed.
People are hurting out there.
Most are self inflicted.
@@tdgdbs1It's not getting easier for anyone loosing a Job, Building back broke is starting to really suck, Right, I see a lot of lazy people suffering 😅
People have stop making payments only makes things worse. Not wise
Welcome to America where for decades Americans have been living paycheck to paycheck, for decades most Americans can’t even afford a $1000 emergency
But to be fair Americans are to blame, the more they make the more they spend.
The guy at the 1:15 doesnt only kick tires, but the bumpers too!!
Tip for you Brandon, the middle & lower middle class always, always pay the economic tab when the big banks & their sugar daddy, the U.S. Treasury bails them out! Does 2008 ring a bell?
Yeah and Trump did a bang up job last time. Actually my portfolio did well under Trump but then I am in the top 1%. Most are not as fortunate as I am. Don't blame Biden for this. But if you want Trump, by ALL means vote for MAGA. That means continued lower taxes for people like me and a massive screw over for people like you. Should Trump crash the economy? People like me go in and buy quality assets at fire sale prices while people like you starve.
Buying things you don’t have money 💰 for-American consumerism at its best!
Our government sets a poor example😉
That's what makes Amerika GREAT, again!
That guy can't possibly get into another car for the price of a $300 alternator, and ruined credit. A $1500 used engine maybe, but a $300 alternator no way!
That's where we are at now. Can either make the payment or get the car worked on. I had to close down my business, am disabled. Car acting up but I figured out a work around for a bit. wife working all she can to cover mortgage etc. But you know what, God is good. He will help us along the way.
I've been in consumer finance for 25 years. It's rare that a repo car comes in in good condition.
I enjoyed purchasing a truck from you guys a couple months ago. Fastest paperwork ever.
I don't feel sorry for the New Car dealerships that were gouging people for $5k, $10k, or even more for "market adjustments" a couple years ago. I am temped to go to a dealer and make an offer of $10-$20k under msrp and call it my market adjustment because their crap isn't selling and I am not looking for a vehicle right now. Sadly I was in 2022 and had to pay a little more than we should have. But it was a need not want situation.
I tried to own a car lot one time. I found that I had to be more corrupt to be legal with the DMV & auctions then if I was to just go on craigslist and flip cars personally, it’s a sad messed up way of life that we have allowed to be created. Thank you for your content 👍🏼👍🏼
I've done both. The problem with flipping is you have to slip title illegally or transfer it into you name which is time consuming and costly
@@MX-CO Everyone makes their own choices. In NC you can have 7 titles in your name in one year. 2/3 people in a family can sell 14/21 cars a year. If done correctly & smart that’s a $2000 per car extra a year. To Hell with government….. If you don’t want to work hard then go work for somebody & not yourself. Don’t be greedy, keep it light & keep it cash 👍🏼
@@LittleMiaMooTheShihTzu
White Trash Motors. Buy here pay here! 😄
They got money for dope, beer, smokes and tattoos, but no money for rent or car payment, I know them well.
Yep...recently saw a woman.. ( I think) pay 15 dollars for a pack of cancer......... walk out to a POS car......no animal on the planet does that to themselves except humans...
That's absolutely true, but also say you have a $350/375$ per month payment on that crappy mini van he opened. That thing has 230,000 miles or whatever and even for those people it has to sink in that this thing isn't even worth $375 much less per month for two more years.
@@seane.9937things to think about before you buy.
because dope, smoke, beer and tattoos are personal satisfaction and investment back into oneself. cars and rent are joining the matrix of modern slavery by putting yourself in debt. Cars are a depreciated asset that eats up your money as well as a rent/mortgage payment. Those are not self sustainable living situations. who tf would want to feed 2 additional stomach just to live life? on top of your wife and kids stomachs that you have to feed as well? Own a car or house isn't just owning without no high cost maintenance bills behind. It's a one time payment flat rate thing.
@@seane.9937 I was in the landlord business for over 40 years. It made me sad to see the many wrong financial decisions people made. The just kelp making one right after the other, over and over again. Working hard their own lives and had nothing to show for it.
@12:00 My counter argument to this would be salvage yards and auto recyclers... since prices are low and many of the repos have issues, salvage yards will have an opportunity to purchase later year models which helps those of us that work on our own vehicles acquire parts for low prices
Buy here,pay here junk!
Some also know they can keep driving the car for 2 to 3 months or more before it gets hooked.
Longer than that.
Everything has gotten way to expensive, food, insurance, regular cost of living. But in addition to that tje new cars are getting crappier, Not Just the EV's either. The gas cars keep getting smaller motors and more tech, more emissions crap. Its gotten to the point that Even money aside I would rather have an older vehicle thats in good condition than a new one. Imo 2004-2006 was the peak. Ill take a 2004-2006 yukon or escalade with low mileage over anything else period.
04 Honda Accord with 270k miles and running great.
@@underachievingwatchcollect1878 I have 260 on my 04 yukon, also Running great. I would probably do a four cylinder but I tow a camper. I also only paid $2800 for my yukon with 200k , 4x4, comfortable, powerful, no payments. I have no clue why people are paying $50,000 plus and no clue why they are making huge payments. If mine breaks I'll get it fixed.
Good luck in finding an "older" vehicle that doesn't have "terminal body cancer". Here in Wisconsin, 7yrs is about the limit for a "daily"!
Nobody learns, the average new car payment is around $750 while a decent percentage is over $1k.. Insanity
People never learn, buying cars they can`t afford, and later REPOS.
very judgemental. sometimes accidents, disaster, and people get sick. You should be thankful that your life is so great. As you judge, so shall you be judged. Walk a mile in another mans shoes. Yes there are frauds. And then there are sadistic people too who relish in the suffering of others. aka trolls
Besides auto theft, not paying on car loans is justification for having a remote kill mechanism in cars... No pay, the car gets shut off and ceases to run... No one owns their cars until they pay off the loan used to buy them... 💥
Touch it Brandon. You'll be stronger for it. - Every GenX'r
I just got done paying off a 6 year car loan and I will not ever do that again. It's too long. And with interest rates being so high rate now I doubt many people want a 6 year car loan like me
They also don’t need CDK to be hacked either. I’m a car salesman and we’ve been dealing with this for the past week. Not cool!
Most of those rides need to go to scrap yard.
Most of them will end up on Brandon's lot, after a refurbishment of course!
I'm gonna guess the MOST repo'ed car in America is the Charger. I worked at a buy here pay here for 3 months. We'd sell old $4k cars to people with 500 credit scores. They'd put 1/2 down and make weekly payments. If they missed two, we'd take the car back. We'd just bring it back to the lot and resell it. Right now, we're in a credit bubble. It's going to burst.
You got the point, just in a very roundabout way. The problem, in this case, is that both new and used cars were insanely overpriced. People (with the help of dealerships and banks) got in way over their head. They budget based on the best times, not for when times are more difficult.
What did they expect in 2022 they were over charging ppl cars. The bank were not stopping that now the banks are getting play.
Ycharts has auto loan delinquency at about 4.4%.and the 6 year chart has it at 5%5 years ago. Nothing is happening in the car market worth crapping your pants over.
That's why we'll buy wrecks and fix them. What you were talking about the downward spiral is true which is why we started a minister to buy a fix cars for low income families. We have a couple dealerships we deal with who will occasionally donate a car for the tax deduction or sell us one for less than the price we'd pay at an auction. It saves us both from paying auction fees.
Not only dealerships, everyone is applying that approach in order to take advantage of others and make an extra buck or a lot of extra bucks. From gas prices, groceries, restaurants,etc. Now they have the idea of producing less and making big profits just rasing prices... The only issue here is you can only squeeze people to some point until they have nothing left and by that point will be too late to repair the damage done.
Designed to get the little people upset, blame Biden and vote for Trump. Works like a charm every time. None of these people have read Project 2025 and how it will crush the little people.
I own 04,05,08 all paid. No issues no leaks ,blows COLD AIR happiest driver on the road to 😃 FREEDOM = HAPPINESS
New shiny CAR = SAD ANGRY SLAVE 🤷🏾♂️
They make these wonderful things. "GLOVES"
Keep paying your bills and live within your needs. You will pay more in interests if you don't on everything you're trying to finance
Welp, when car payments are 3-4 times my mortgage I cant feel sorry for them 🤷♀🤷♀🤷♀
Welp just had my car repossessed i was trying to catch up but just got in over my head it sad but a blessing
You are a good guy Brandon for telling it how it is. Yes the world is changing fast and will have to adapt to the Great Reset. WEF
I tried to buy a GMC Sierra 1500 wt just ac cloth seats and sliding rear window the dealer had 25 in stock and would not sell one to me stated for business/corporate customers only but i can get a 1500 Denali for 1400.00 month....i don't know most people but i know i can't afford it and even if i could im not paying that for a truck or car....
Are they driving that Dodge van around until it blows?
You can't stop touching!!
so rarely do you see great almost new cars that were bought new and repoed
I drive a lot of repos from repo lots back to the auction, none of the ones you showed come close to the nastiest ones I have driven, or in a few cases absolutely refused to drive and told my boss to send a truck.
Is it similar to cleaning up a "crime scene"? The BOSS should pay extra for "hazardous duty" work!
@@TheOzthewiz We have bio hazard sticker for those cars, we don’t even get in them. We drag them onto a rollback and take them directly to be auctioned as salvage.
In 2008 finance companies stopped repossessions because they were losing too much money.
I recently got pre-approved for used vehicles, but I've decided to keep what I have and fix it. I just bought a bidirectional scan tool to diagnose issues because mechanics can't be trusted. I'll keep waiting for the market to stay the same or crash. I don't care anymore.
Anyone that says bidirectional scan tool can't be trusted
Buy here pay here dealers make all their money by selling the same car 2 or 3 times. I can't imagine why they would be selling at an auction. It makes no sense
They aren't selling, they are buying!
Probably some of Brandon's "gently owned" goodies!
They really don't. Most of the cars they sell won't last past one or two owners. I used to sell used cars at a Buy Here Pay Here lot.
I like that you are on the ground showing people the grimey truth but if I could make 1 lil suggestion. Your videos might benefit from adding a few current statistics on repossessions nationwide just to accent your point and bring the matter full circle.
i once looked at a transit passenger van that looked and smelled like their were dead bodies in it in the past. It was a comuter vehicle for oil rig workers in Texas. You can imagine
Finally a headline that doesn't say it's over
A large part of what’s driving repossessions is customers are upside down. They owe more on the car than it’s worth. It’s the same thing that happened with the mortgage crisis in 2008. When the flow of new cars slowed during/after covid used car prices went up and new cars were sold at msrp or higher. Now as the market corrects itself all those people that overpaid are upsidown. Look at Carvana and Carmax that overpaid for cars during that period are now sitting on huge overpriced inventories. What fixes the car market is sensible pricing for consumers.
Tack gode gud för att jag kan så pass mycket om bilar.
English or don't post.
Was looking at a pontoon boat for $12K. I thought I’ll take $10K cash out and if it looks good, drives good and not an anchor..I’ll offer the cash. He wrote back saying it’s pending. The buyer is looking to finance but if it falls through he will let me know. All I wanted to say was why?? Financing an older pontoon for that cheap?? That’ll lose value? Where his interest rate is probably 14%?!?!? He’ll no. But I know the seller doesn’t care. He just wants the money.
I haven't seen these in the bank earnings yet? Wonder if it's a regional thing or it's just too early to show up in results. I personally don't think things are that bad yet
it sounds incredible to default on a car loan. we also have a loan for a house (old) for a few years 15y back & a lease for a new car for investment apartments. even though we don't make a lot of money, we want to keep the monthly/annual costs so low that we can manage with one person's income.
2:03 a lot of the cars you see at the “buy here pay here, because you’re credit is fucked up so we’ll sell you a piece of shit that may very well have issues but you’re desperate so you have no choice” have issues that may not be immediately apparent and once the issues become known why would anyone continue making payments on a really expensive paperweight???
The heat is getting to you young Man. Stop touching the cars.
Cheers.
Or get a hazmat suit or at least a pair of latex gloves. Recently rented a Nissan Versa econobox while on vacation. It smelled AWFUL from BO to the rental fragrance that they put in. So disgusting and felt dirty every time I got out of the car. The car worked well and had excellent air conditioning. Was surprised at how well it drove, once it got up to speed. I think it had less than 10,000 miles. Rental cars have hard lives.
Big car manufacturers have stopped making $20,000 cars for their line up. Therefore they are squeezing the low-end buyers out of the marketplace.
You should talk more about the legal actions that a car dealer can take to recoup the difference between what is owed on the car and the sales price at the auction. The dealer can get a judgement in small claims court for the difference. If you don't pay the judgement lots of bad things can happen to you financially.
I drive a 20-year-old Chevy, I clean the interior every few years, and it still looks in significantly better shape than these vehicles.
I'm a follow your videos to buy my used car. CA residence
Just saw a post about a guy who’s 4 months behind on his scat with 1200/month payments he was asking if he should take out a loan to cover the missed payments on the car loan he already took out or if he should just give the car up. You really can’t make this up.
I just ended up buying another vehicle last week. Mine wasn’t repossessed. The insurance did a “Total Loss” after me and my family got caught in a severe thunderstorm with baseball size hail.
I purchased a 2021 Grand Cherokee Laredo X. I’m sure I got screwed. Paid just under 23k for it. Had 124k on the speedermeter
You definitely got it "up the old tailpipe " by buying a Chrysler (aka, Stellantis) product!!
A new Mazda SUV, plain jane trim with all wheel drive is under $27,000 MSRP. I just bought one. Much rather have a new vehicle that is prices at or lower than used car prices any day. YMMV, of course.
Folks just don't care to take care of their cars sadly
9:05 KIA!🙂🙂🙂🙂
I had one car come in as a trade, it was so bad that I had to sit on a trash bag to keep my clothes clean.
Has a "Buy Here, Pay Here, Fix Here" dealer model ever been tried? It might help a person with a job keep a car without getting deeper into a debt spiral... The customer who is making their payments to a "Buy Here, Pay Here" dealer needs a ~$400 repair, instead of getting into a REPO status, the "Buy Here, Pay Here" facilitates the repair & adds it to the life of the payment plan. Just wondering....
That's great (Or not. I don't know.) but the dam still hasn't broken on used retail prices. I bought a 2018 Focus SEL hatchback for 16 grand back in 2018. Some fool on Facebook is asking 20k for the same model (apparently, he added an intercooler). Used car dealers are still not converting lower wholesale prices to lower retail pricing. I would still advise consumers to hold off.
So sad!!!! It's a vicious cycle of repos all the time.
The vehicle manufacturers are just like the property owners now they have gotten these high prices they are not so eager to lower until the very end. The ones making sales are the ones lowering prices and interest rates.
I have a 1995 plymouth chrysler voyager mini-van. She was top of the line back then. Just waiting for my turn to take her to the mechanic to have her engine rebuilt. Going to cost me at least four grand. But then she will have a new engine. Some people think Iam crazy to have it done. Certainly not going to buy someones elses headache.
That van is dirtier than my garden room where I mix compost.
So depressing, here is a soul with the sky is falling mentality, behind every bright day there is a huge sh!t cloud heading our way
To be fair, if youre getting finance on a 10 year old car, you cant afford it. Just buy a car thats a little bit older for cash. I do get people have problems, but debt doesn't help anyone. Ever
The car is affordable enough but the insurance is insane
I have an 09 CRV with 105k miles. I bought it new. I know what it is.
Honda CUV?
People also abandoning there auto insurance. I know a few that have nice cars that are payed off. But can't afford the car insurance!!
My Huracan insurance is only 3k a year
What if the manufacturers are all in on the price hikes because they see it as the only way to move to a direct to consumer sales , they want the dealers to give up so they can cut them out. I just thought about this while watching like 4 of your most recent videos
I ready to buy. But the banks and dealers are not. I will wait.
Sounds like there are a lot of people who just shouldn't own a car.
Mass transit's not always available in many areas to take to work. Brandon's story of the repeating cycle is true.
Or they should buy an suv or van and live in it
@@azmike3572yup history always repeats itself, people have a short term memory so it repeats often.
Repos were actually higher in 2017, 2018, and 2019. For decades most Americans have lived paycheck to paycheck, even after they make more money they just spend more money 😂😂😂 I used to be like that and most of my family and friends and co workers still do it.
They will buy a bigger house, take more or more expensive vacations, buy more expensive cars/trucks, eat out more often, buy more new clothes/shoes, etc,…..
No! It's the God given RIGHT of an Amerikan to own a car!
Brandon, it seems pointless damaging or mistreating repos, doesn't that just increase the amount owed?
Why doesn’t the BHPH dealer put them back on their lot? I thought their business model was to sell to them to people with bad credit that can’t get a loan anywhere else and then repossess them and sell them again. Those cars must be in bad shape for a BHPH dealer to unload them.
Yes. That is Brandon's point and why HE doesn't buy them. NOBODY wants them.
It's NOT that bad! Probably just need a "tune-up".
LOL. I am driving a 2008 Silverado with 175K miles, bought it new. I'd drive it nearly anywhere.
The dealers don't need the MSRP to be lower. They need invoice to be lower or kuckbacks to be higher. That way they can advertise below MSRP pricing like before pandemic.
That mistreatment of that Lexus is so sad. Car could last 400,000 or more. Take care of your stuff! I can see the manufacturers start handing out rebates, incentives and 0% financing. This has always happened in the past. These big plants need to run, not sit idle. And soon enough, the 2025s will be coming out, while Ram dealers still have brand new 2022s and 2023s on their lots. I've been shopping for a new truck (Ford), and you can see the days on the lot is skyrocketing.
There is a huge disconnect between these repo rates and the stock market, the public numbers say that the economy is not so bad
Everybody has different opinions so much that I don't know who to believe. baffling
There was a video where the news crew were asking the fed why consumers are not happy despite impressive economy figures and the fed answered “I don’t know”
Main st and wall st are 2 different thinge
The stock market is only really a gauge of how the top 10% are doing. The economy is great right now - if you're in the top 10%. It's crap for everyone else.
The economy is terrible with the migrant crisis it will only get worse.
IMO middle class is evaporating. Most are employees (not all) and may not have a clue how to survive on the street. When their job goes away, this video comes out.
hey do you know what year that volvo wagon was. those are my favorite cars.
Id love to have that Volvo next to the Explorer.
Sub $20k market is not being affected and won’t. Too many subprime being created daily needing to get out prior poor purchases
And the beat goes on 😂
La da da da 🎵🎶🎶
wow they are gross cars, I just traded my 2010 for fusion excellent interior and engine but the rust was getting bad right in front of the rear tires guess it is a rocker panel. my car was so clean I just cleaned it before I traded it on only one big coffee stain on the passenger seat but bought some cleaner and it came right up, only got 1060 dollars from a mazda dealer and I know MAZDA gives them 1000 dollars if they donate the car so they got my car for 60 bucks
Hey Brandon, how long does it take for a repo operation to kick in? Cheers
I know there is a repo craze going on. I see a lot of undercover wrecker trucks driving around.