PROOF! The Car REPO CRISIS IS GETTING WORSE!

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Car repossessions and delinquencies have been exploding over the past several months and it will likely only get worse as we head into this economic downturn. Today I'm bringing out an expert on this topic Brandon from Car Questions Answered. Feel free to go and check out his channel here: / @carquestionsanswered
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8 июн 2024

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Комментарии : 1,7 тыс.

@MichaelBordenaro Месяц назад

People Have STOPPED PAYING THEIR STORAGE BILLS! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-OEZvbfS8rJ4.html

@imustbedum Месяц назад

Loved u collabed with Brandon!!! Was one of his 1st subs, and luv ur channel too!!!! Hope ur time in Cali doesn't cost u ur entire wealth😂

@Zeitwave Месяц назад

Love to know where you purchase your tank-tops.

@Lisithedogwalker Месяц назад

@@ZeitwaveUsually we get it from JCPenney 😅others from Brazil, my mom buys them for him.☺️❤️

@Zeitwave Месяц назад

Very sweet of your mom, Thank you for letting me know.

@jossa942 Месяц назад

Yea its bad if yall doing a colab. Idk whats up our government

@JBoy340a Месяц назад

People need to quit buying $100K SUVs and 5/6 passengers Pickups to drive kids to school and pickup some bags of mulch twice a year

@lucianaromulus1408 Месяц назад

I agree. It's ridiculous they cost that much, we need to stop supporting it

@Landstalker1999 Месяц назад

But soccer mom Karen's will have a panic attack when it starts to rain and their kids need to walk home from school... those $100k SUV's are 100% necessary!

@DIVISIONINCISION Месяц назад

One of my neighbors bought a pick-up so large that it can't fit in the garage. These people aren't the smartest.

@ShaggyRodgers420 Месяц назад

@@Landstalker1999 or pickup drivers that are trying to impress everyone else down at the factory or in the church parking lot. Everyone of them will tell you allot the time they actually had to carry some wood 🤣

@bdpilot28 Месяц назад

Status symbols and they will say they feel safer in a bigger vehicle.

@rapidfirerepublic Месяц назад

For a time, I was a used car salesman, and when I went to buy my first new car, my finance manage at the time gave me some excellent car buying advice which plays into what you're saying here. He said - let them tell you about all their add-ons, insurance, etc. And simply tell them "oh that's interesting, but what about the price of the car?" Just passively agree to the accessories without signing anything, while also continuing to ask about lowering the price of the car. Then, once the cost is as low as they're willing to go, because they think they're going to make a killing on the extras, go in with the FNI guy and tell him to remove all the extras. They'll have to keep the car price the same. They'll be PISSED, but you'll get the best deal.

@dertythegrower Месяц назад

Slick. There is always the 9 buck ads you can run to 'help people get out of their repo loan' and lowball them to take over the loan at their dealer

@MrBlinchikON Месяц назад

From my understanding you’re talking about a new car. If dealer already installed all those features, adds on whatever- they not gonna remove them. Or what do you mean ?

@HopefulFox-ms5pq Месяц назад

@rapidfirerepublic Could you please give an example of passively agreeing to the extras? There has to be more to it than saying : That sounds interesting to the car salesman.

@irritatedkitty7301 Месяц назад

The car salesman asked me what kind of monthly payment I could make. They kept pushing that question. So, be prepared.

@rapidfirerepublic Месяц назад

@@irritatedkitty7301 , they always do. I simply say to them "if the price is right, the payment will fall into place". You just have to be more slippery than they are. But again, the easiest way to get them to lower the price is to make them think you're gonna buy everything else. You never say yes, but you never say no. And really, you can say yes, just don't sign anything that locks you into it. It's a game they're playing, and they hope you're not.

@BVAutoService Месяц назад

Houses arent selling, cars arent selling...gas and food are the most expensive in history...but yet somehow the economy is doing well... got it 👍 🤪

@lisagardner903 Месяц назад

And inflation is only at 3%. Yeah right.

@jimcrawford3185 Месяц назад

You have learned well Soon Jedi you shall be

@Mishkafofer Месяц назад

can be true. US top companies are international . So, most Americans be poor and have strong companies. China and India have big multinationals but also big poor populations.

@donmarek7001 Месяц назад

81 million said things are great.

@jackwilson3121 Месяц назад

Houses are selling where I live in Iowa.

@troymcdrains9989 Месяц назад

Who coulda thought you could get an honest good used car dealer and the same type of realtor in the same video. Magic right here ✊🏻

@haveanotherpinacolada Месяц назад

You can't.

@naradaAye Месяц назад

However, both of them showed their ass talking about about Ev's.

@GodDidforme-or5kq Месяц назад

Who in the hell would want car payment for $700 or higher? Buy a used car and keep up with the maintenance 🤦

@Random-rt5ec Месяц назад

Here in far left Massachusetts used cars cost nearly the same as new

@williambrucesanders6878 Месяц назад

🙋🏿🙋🏿🙋🏿

@papayaman123 Месяц назад

If you can afford it why not? My car payment was around $1100/mo for 36 months but I got it at 0% interest and nothing down. I could have paid cash but used it to invest in a higher return.

@ryukirito2616 Месяц назад

I was looking at the new Dark Horse Mustang and they wanted total like $90k with a $20k dealership up price. I told them if I wanted to pay that much for a car, I’d buy a Corvette. The monthly for the car alone was like $1600 without insurance. I don’t doubt with insurance it would be total a $2500/month payment!

@kiinobryson Месяц назад

@@Random-rt5ecoh right like your political affiliation has anything to do with the price of a used car

@autobotdiva9268 Месяц назад

$700 car payments is INSANE

@bdpilot28 Месяц назад

I would never pay more than 350 for five years. Now, I won't finance one for any reason! Cash only!

@xro1983 Месяц назад

You got people out there paying $1500 a month for a truck

@betsybarnicle8016 Месяц назад

I've vowed never to pay over $300/mo. for a car payment. Currently have 6 mos. left paying $221/mo.

@butternuts14 Месяц назад

Interest rates are crazy right now. I remember mine being 2.9% and they’re up to like 6% now

@rickgentile4956 Месяц назад

$700 health care payments are to

@robertwalker-gc1ds Месяц назад

I haven't had a car payment and 10 12 years I don't miss them

@jayjay-bz3rr Месяц назад

I paid off my 2017 Ford as soon as possible. Paid it off in about a year. No regrets

@jimmyboyles2868 Месяц назад

Keep it and at least get a Club for your steering wheel. No more Law and Order. It's a free for all.

@soulglowsheen Месяц назад

I'm like you ... 3 years for me. Never going back.

@autobotdiva9268 Месяц назад

same

@BREEZYM6015 Месяц назад

@@jimmyboyles2868"Accept no imitations". Get the Club. 😂

@deidrajames4258 Месяц назад

So many call my husband cheap but he’s always says we over pay for too much, complain on the rich getting richer, well he said if you stop overpaying for houses, cars, food and unnecessary things the rich don’t get richer, they get nervous.The last car payment we had was in 2003, never again, my husband and oldest son an stepson are mechanics and nephew is mortgage loan officer, we’ve learned a lot and we pay too much for everything.

@DIVISIONINCISION Месяц назад

Mortgage loan officer will be losing his job soon, as real estate transactions are down. Mechanics will always have a job, just depends on what they are willing to accept. You're wrong about the "rich getting nervous". The middle and lower class waste so much money on take-out food, delivery, vacations and other things they can't afford while the wealthy have that money invested, making money. It's a different mindset. If you ever become a Millionaire, your perspective will change on everything. It is the "haves" versus "the have nots".

@soulglowsheen Месяц назад

Car mechanics are a blessing in the family ... Saves on cost .. and they usually know where to buy car part cheaper. oohh and the labor cost per hour in these shops..... 😬 😳

@truthseeker1959 Месяц назад

@@DIVISIONINCISIONSoon, money won’t matter. It’ll be only food and water.

@infinitelyblessed1778 Месяц назад

I was thinking this very thing this morning when I was in the shower. My sister tried to guilt me into purchasing $40 for a tiny container of shampoo. I’m like ‘I’m happy for you that you can afford to do that but $40 shampoo is not in my budget.’ I can’t believe how much people support price gouging. In my sisters case she believes affordable shampoo and conditioner causes cancer. I’m thinking I would make my own shampoo before paying $40 for a tiny container of shampoo.

@DIVISIONINCISION Месяц назад

@@truthseeker1959 I don't see a crash anytime soon. Too much money in the markets right now. What's you're seeing is a recession.

@SincerelyEMartin Месяц назад

Please please please buy cars in cash! My husband and I bought our vehicles cash 5 and 8 years ago, and they are still running great! We have not had any break downs or crazy maintenance bills and we have a Lexus and a Ford. There is nothing like having no car payments. Be smart with your money and realize you do not need a new car at all! They aren’t even made as well as the older cars.

@soulglowsheen Месяц назад

I'll take an older Lexus in 2024. I don't want all the new tech in cars anyway. 2 much.

@treesnmoguls Месяц назад

Spot on! Peaceful life without payments!!

@benjaminczerwinski7670 Месяц назад

These new cars are made to break down people plain and simple

@agentdoubleozero Месяц назад

The problem is that banks won't give you your cash if it's more than 10 g's. They will say : "new federal law."

@danadickey4513 Месяц назад

I paid for a used toyota with cash.❤

@nancygreen8186 Месяц назад

People had to choose food over their car payment

@wturner777 Месяц назад

For the single parents out there, they'd choose to feed their babies over spending their last few bucks on gas. And I've seen this quite often in my family and other families. It's a sad reality we're all in.

@redfo3009 Месяц назад

More like alcohol, extensions, fake nails, designer jeans, and door dash..

@DavidS-bm2st Месяц назад

if I can't afford to pay for it, I don;t buy it

@PonziZombieKiller Месяц назад

Missing out on the free stuff. Janet gotz dis one.

@Tacman556 Месяц назад

25% APR, I’d rather ride the bus

@shopece8807 Месяц назад

In some areas public transportation is not only more affordable but actually good. I can afford a car but meh metrobus is only $2 and the subway/train in never more than $4 one-way. And in my area the full subway/train system is actually $2 flat on the weekends!

@Joce123 Месяц назад

@@shopece8807Good luck if you live in a small town in rural North Dakota.

@cynthiawylie3584 Месяц назад

Obama said working class people shouldn’t have cars or trucks. They belong on a bike or a bus.

@danyuljackson Месяц назад

🚴‍♂️

@Susie8675309 Месяц назад

@@shopece8807 none of that is available to rural areas!

@jimmyboyles2868 Месяц назад

Why wait for the repo - man? Now your car will be stolen before they get there. My car stolen Memorial Day. RIP my car. It was a good 10 years. 😥

@jillw892 Месяц назад

Sucks.

@jimmyboyles2868 Месяц назад

@@jillw892 Sad part is police no longer come out for stolen vehicles. Took them 10 hours to get back to me filing a report over the phone. They said they have been Defunded. We are on our own.

@jayjay-bz3rr Месяц назад

@@jimmyboyles2868. Sorry to hear about your car being stolen

@soulglowsheen Месяц назад

Sorry thats not 🆒

@ShaggyRodgers420 Месяц назад

@@jimmyboyles2868lol if the police told you they’ve been “defunded” they are lying and likely dumb themselves. You can look up your local police budgets. At no point have most departments put ANY effort into tracking a stolen car.

@billdillon3886 Месяц назад

When trucks are outfitted like a house instead of a barn, you know the market is doomed. WE DON'T NEED NO SHINY, SPARKLY, COMFY TRUCKS...at $69,000.

@found_treasures831 Месяц назад

Nowadays 69k gets you a plain white work truck.

@billdillon3886 Месяц назад

@@found_treasures831 haha. True. I meant $169,000

@johnberry2877 Месяц назад

My 25 year old Tacoma is bulletproof and unstoppable with its manual windows and transmission !

@redfo3009 Месяц назад

Totally!! I hate what they did to trucks. Only the working man used to own a truck, now they are a status symbol like Mac and Starbucks. I drive a 30 year old half ton pick up and put half ton of stuff in it all the time I worry about it but I refuse to buy even a used ‘new’ truck at 20-30k it’s not even worth it. And you can hardly find an 8 foot bed, they are all 4-6 feet which isn’t conducive to hauling much!

@michaeldunagan8268 14 дней назад

Yah-circa 2000 or so, is when I saw pickup trucks becoming luxury sedans with an extended uncovered trunk.

@drupe100 Месяц назад

My last new truck we bought was a 2004 Toyota double cab Tundra. My husband and I have always been able to afford to buy a new truck. Just recently our 20 year old Tundra needed some repairs. We only have 95,000 miles on it. Thought we may replace it given its age. Not today. Trucks are way too expensive. We have never lived in an economy this bad in our entire lives. Our county, state and federal governments don’t have enough brains to budget. We the people just keep letting government do what they do with our money. City and County budgets should be published in the local newspaper every month. Who in their right mind came up with property taxes should be based on sales value? It’s just totally absurd in this day and time. I digress.

@beverlytheartist425 Месяц назад

You asked the question, why would people sign up for something They know they can't pay for? Simple. I did it in my youth and had huge car payments on Corvette's, Porsches...$400 -500 a month payments. It's called low self-esteem.Trying to feel better about yourself.Running from yourself it's a psychological issue

@CMBBmc-jd6ur Месяц назад

I bought a jag at high interest. My last payment was $8,000. to pay it off. Loved it. Wasn’t running from anything. Now that’s out of my system and it’s all good:)

@DIVISIONINCISION Месяц назад

@@CMBBmc-jd6ur Jag's are nice, however the cost of repairs outweigh any benefit, similar to a Mercedes.

@rockyroad7345 Месяц назад

The best feeling is not having a car payment. I drive a car 10-12 years or more and save until I need a new one. Haven't had a car note in 34 years.

@ceeellebee122 Месяц назад

It’s definitely psychological!!!!!

@amyhudson1016 Месяц назад

Exactly right. Spend your money on a life coach or councillor. Much better investment.

@nano.joe.4851 Месяц назад

Buy cash. No need to buy a new car. Who you trying to impress?

@shawnkelly695 Месяц назад

Costs alot to drive brand new.

@shawnkelly695 Месяц назад

Somebody gotta buy brand new and pay the massive depreciation so us cash folk buying used cars have more choices.

@tinamakaneole Месяц назад

Not impressing anyone, my father taught me to buy new for safety sake, less problems.

@ferretapocalypse Месяц назад

I buy things for ME not to impress anyone. I dgaf about ppl.

@bdpilot28 Месяц назад

Very few people have cash! Most can't even come up with 500 bucks for an emergency!

@Oldeagle66 Месяц назад

I remember when used cars were so affordable and available, people had a good car and a $1000 to $2000 beater for work.

@tboneforreal Месяц назад

Yeah, it was good until the Cash for Clunkers program killed that used car market. It removed all of the really cheap used cars that people could pay cash for.

@bencharlie9509 24 дня назад

Bought my first car a karmann ghia for $1300. Now it’s a classic but sadly I have it no more.

@michaeldunagan8268 14 дней назад

That is twenty years ago here in the Chicago area. Twenty-year-old Toyotas with a blown transmissions ask $3000+.

@NYCHairguru Месяц назад

I ALWAAYS READ THE ENTIRE COMMENT SECTION! That’s HOW I’ve learned SOOO much!! Thx everyone!!! We all have each others backs

@Lisithedogwalker Месяц назад

❤🙏❤️

@MH-53E Месяц назад

Ruining my credit was the best thing that ever happened to me. It made me understand how far i was living beyond my means. If you can't buy it outright, you simply can't afford it. Oh you will be told that you can. You may believe you can. Just because you can make the payment means nothing. Have your wife come down with a life threatening illness. Within six months, the house, cars, and everything your kids want...GONE! And nobody gives a rats ass... Then you start building your kingdom, the right way. I now live in a paid for home and drive three pristine 1990's Toyota's. Life can be good if you play the game properly...

@treesnmoguls Месяц назад

SPOT ON!! Live in PEACE!

@JBoy340a Месяц назад

Expensive but useful lesson.

@williambrucesanders6878 Месяц назад

🎉🎉🎉🎉 exactly

@Aerial.Imaging Месяц назад

same here best decision i've made , buy used and pay cash and zero finance lol.

@class1188 Месяц назад

Very Good 👍 no one has keep up with Jones, because in end they CAN'T DO IT😮

@mrrewog Месяц назад

Nice to see you both together!

@Ron4885 Месяц назад

Yeah, it is. I watch Brandon as well. 👍

@bryanspayde5681 Месяц назад

In the past a person paying cash for a car got a huge discount on the price !

@kathleenepugh9495 Месяц назад

Now, you are basically put off the lot. Cash doesn't "speak" like it used to! These dealers/banks are only interested in multi year buyers.😂

@207.. 23 часа назад

I payed $10,000 in cash for my 2017 Chevy Colorado LT 4x4

@sofiaperalta9091 Месяц назад

There is a place that won't even tell you prices in Lubbock. I asked how much a car was on their lot. The guy replied with, "How much are you wanting to spend?" I replied, "Do you know the price? I can give you a second to go check if you need to." Him: "Well, tell me what kind of payment you want." So now I'm mad. "Sir, can you tell me the price or no?" but I am clearly no longer asking nicely. Him: "What's your budget?" "Okay dude, fk you." Rolls up window, drives off. My kids: "Mom, you were rude. Why did you get so mad?" If I ask you a question the polite thing to do is ANSWER MY QUESTION, not respond with your own. My finances are none of your effing business. Either you want to sell a car today or not.

@user-kq6sh8tg5f Месяц назад

I hate it when they ask me what kind of a payment am I looking for and insult my intelligence. Like I'm actually going to take 7 years to pay off an auto loan and pay every cent of that interest! The important thing is the overall price of the vehicle, not the price per month!

@treesnmoguls Месяц назад

They ask because some people are DUMB ENOUGH to answer, in which case they can manipulate the "4 square" (price of new car/value of trade-in/interest rate/loan term) to make it SEEM like a great deal to a naïve buyer.

@user-kq6sh8tg5f Месяц назад

@@treesnmoguls It's amazing to me how many people truly believe that they got a great deal and those people at the dealership do it all day long and everyday. People are so gullible!

@thomburleson7661 Месяц назад

@@treesnmogulsTotally agree with you! I’ve been asked that question before and I’ve laughed and said that it’s non of their business. All I want to know is what is the best price for the car that I can get. And never tell them you’re paying cash prior to acquiring the best price quote! That comes at the end when they have given you the price that you want.

@jesserigon Месяц назад

getting charged more principle for the "privilege" of a longer term is dumb, but it's just a tool. If Im buying a newer car that I know wont have issues for 5 years, then I would definitely take a 72 month 3.5% term loan if I can get 5% for letting cash sit in a savings account. but its all just math and it changes based on the inputs

@MarkBush-hg8bv Месяц назад

My dream car has A/C , Power Windows and Locks , a regular Key with Fob , a Antenna Mast , a decent non CVT Transmission , AM FM CD . I think there is still a market for Basic well built cars and trucks !!

@searchforthetruth1998 Месяц назад

Toyota Tacoma SR access cab built before 2020. I have one,(2019)I despise electronic key fobs. I’m an outdoors guy I surf, skate, snowboard, camp, I cant be crossing a river and be worrying if my key fob gets wet in my zipper pocket. My 2019 Tacoma sr has a actual key and I even made a copy to keep under the truck for only $3 lol

@JBoy340a Месяц назад

My first pickup was a Nissan in 84 or so. No radio, no AC, 5-speed manual, bench seat. Kept it for over 20 years. Did what I needed which was to let me go to the nursery and fill the back with mulch once a year and haul some wood for the stove.

@domini384 Месяц назад

@@searchforthetruth1998You do know modern keys have chips in them to communicate with the immobilizer don't you?

@searchforthetruth1998 Месяц назад

@@domini384 nope my 2019 doesn’t bro. It’s literally a key with rubber on it for keychain. The old boomer at Home Depot tried telling me that too until his machine said it could duplicate my key and he said “oh”

@johnberry2877 Месяц назад

Beautiful. That’s why I love my 25 year old Tacoma. I clip the key on my BC when I go Scuba diving ! No electronic bull 💩 to deal with ! And wow, even after being submerged in over 60 feet of water for almost an hour it works ! 👍👍 WINNING

@SilentBob1932 Месяц назад

Car Manufactures will continue to charge high prices as long as Finance Company’s will give you a loan for it. Same as College tuition, Colleges will continue to raise tuition as long as the Government student loan program will give you loans even though the students will pay be paying them back for 10-15 years or longer for mostly useless Degrees

@DavidClark-vu3dw Месяц назад

Knew a guy who drove a wrecker and he told me that repos were on the rise and that it was a warning that the economy was going soft. I immediately cut down on my spending. He was right!

@ShaggyRodgers420 Месяц назад

The economy is great. Repos are up because car lenders had zero percent loans and approved anyone. Don’t take financial advice from a tow truck driver 🤡🤣

@queserasera1674 Месяц назад

Brandon is the first used car salesman I trust. He's going to do very well in our new economy.

@lesterhutchins1621 Месяц назад

No evs eh

@hoosierdaddy8002 Месяц назад

Building back better ?

@queserasera1674 Месяц назад

@@hoosierdaddy8002 LOL..I guess you could say that. This poor Brandon got stuck with a not so great name for our current times.

@chip6954 Месяц назад

You got that from a YT collab video? You are prime prey...

@queserasera1674 Месяц назад

@@chip6954 One always must do his research before buying a car.

@larryd4110 Месяц назад

Mike, you keep hitting it out of the park with your shows!! You have been accurately describing what is happening in our economy, and unfortunately, some people don’t want to hear the truth. Our politicians are lying to us. I also have been listening to Brandon’s shows. He corroborates what you have been telling us all along. - Larry D

@chrisniner8772 Месяц назад

The quickest way back on your feet is to skip a few car payments.

@BREEZYM6015 Месяц назад

😂😂

@ceeellebee122 Месяц назад

Literally 😂

@class1188 Месяц назад

Then walk everywhere on your feet. Bad credit. No thank you

@wturner777 Месяц назад

@@class1188 Or worse. A lawsuit on top of a repo.

@bencharlie9509 24 дня назад

In more ways than one.

@jamieprewitt Месяц назад

If you can’t pay cash for a car then you cannot afford it. Never finance a liability.

@MuzicTunes-lk6np Месяц назад

Exactly, I know it's not always possible. 🤔

@BREEZYM6015 Месяц назад

Most people have to finance a home if they buy.

@louismarino5448 Месяц назад

Car payments aren't a bad thing if it's within your budget. You need to know what you can afford. If you can't afford it, don't buy it

@SafeEffective-ls2pl Месяц назад

@BREEZYM6015 Real estate can be an asset because it will appreciate over the long term. Cars don't unless they're collectibles

@jamieprewitt Месяц назад

@@SafeEffective-ls2pl A car and a house are liabilities, the only way they are an asset is if they are producing more income monthly than they are costing you to have. Many people don’t grasp this concept. Also by the time you sell you may have more nominally than what you paid for the home but with inflation x loss of purchasing power of the dollar it’s probably a wash. Learn to turn your liabilities into Assets that is the key to financial freedom. Owning a home for the most part is in-fact a liability, as most are costing you money each month. You can turn them into money producing properties only then they are an asset.

@irvingcm58 Месяц назад

The problem with EVs is simply this: It is a car of the future NOT of the present. Good video Mr. Bordenaro

@MrJohnnyDistortion Месяц назад

👉🏽😆👎🏼

@theoptimist7510 Месяц назад

@@dissident112 yea, with EV's we will have to see if "driving them into the ground" like ICE motors is even a thing. They might become almost worthless around the time of battery death since the replacement costs will be astronomical.

@articulatemadness Месяц назад

The problem with EVs is simply that they are Lithium ION phone batteries that explode once they get overcharged, old, or worn. There's also the pesky problem that you get 200 miles on one charge and that charging stations are fueled by GAS. Oh, and paying 20K for a battery is NOT a selling point.

@NoDaysOff-oz2zl Месяц назад

Once Charles Kettering invented the electric starter, EVs were doomed. The only reason they came back in recent years was delusional techie FOMO and billions in tax breaks.

@AlenAbdula Месяц назад

Hybrid is the way to go. Cope if you have to!

@byduhlusional Месяц назад

It'll only get worse as people's debt burden increases with these higher rates. I completely agree with Brandon.

@jasonweishaupt1828 Месяц назад

I’m a fleet vehicle manager for the US government. Our agency head refused to get an electric vehicle, refused a plug in hybrid, and refused a standard hybrid. We got her a conventional gas vehicle. Let that sink in.

@MatrixUSA Месяц назад

Yeah, the government has no problem spending OUR MONEY !!

@Joce123 Месяц назад

My son is a finance manager and he can find you a place where you can get 180 months car notes.

@Joce123 Месяц назад

My sister in Lavonia Louisiana has a car note at 36% that she cannot ever pre pay. She could only pay the entire balance off but never any extra principle.

@itsallperfectlynormal9805 Месяц назад

@Joce123 that is criminal and should be against the law.

@vincentharris7909 Месяц назад

@@Joce123 my my my….. 15 years to pay off a car 😢

@fredk9999 Месяц назад

My greatest concern for driving an EV is running short on charge and pulling off the highway at Pretty Prairie, Kansas, only to learn that two other EVs are waiting ahead of me.

@vegas6908 Месяц назад

My two favorite people to watch for the economic breakdown. 👍🏻

@lilboybluenotes7042 Месяц назад

The team up we all wanted AND needed!

@eman7892 Месяц назад

I watch Brandon's channel all the time. Great stuff.

@fartdonkey8290 Месяц назад

Let's go brandon

@greendesertgoddess Месяц назад

Yeah, buying a new car is one of the biggest rip-offs!

@johnpichla9557 Месяц назад

It all depends on where you are in life? Financially and what you are willing to spend. I do agree, last couple of year's, the dealership is taking advantage!

@charlesbosse9669 4 дня назад

I like the looks of new trucks,but not for70,000 bucks or more.

@Joseph-zw3sb Месяц назад

I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024

@MileyHumphrey-ql4jp Месяц назад

Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.

@Anthony-bh6dd Месяц назад

Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.

@Anthony-bh6dd Месяц назад

Just research the name Angela Lynn Schilling. You’d find necessary details to work with a correspondence to set up an appointment.

@albutterfield5965 Месяц назад

Everything is in crisis mode, cars, houses, credit cards, personal loans and the price of groceries. I just watched a video the other day that talked about the people that make 6 figures are starting to shop at Walmart because they need to cut expenses. Our economy needs to crash our dollars are worthless in fact I just read and article this morning that today is the end of the petrol dollar as many nations are refusing to take it for trade, hopefully something better is just around the corner. The BRICS nations with their gold back currencies have dealt a death blow to our worthless dollars.

@brent4073 20 дней назад

Read The Bitcoin Standard book and this will all make a lot more sense to you

@albertadams2095 Месяц назад

When two of your favorites on RU-vid collaborate, it feels like getting a dose of good karma 😌❤️

@ironsurvival7011 Месяц назад

Just paid off my 4Runner a few days ago. So glad! Now I’m out of debt completely I own my 2008 Toyota RAV4 and I own my 2021 Toyota 4Runner TRD Pro. Was lucky I had a 3.9% rate on it but paid it off early. No debt is an amazing feeling. No debt needs to become the goal for all Of us and make it the new normal for our society! It’s up to us

@johnberry2877 Месяц назад

Toyota 👍👍

@MrRichard57000 Месяц назад

I drive a 250euro Renault Scenic 2002,there was some maintenance needed like:timing belt replacement,waterpomp replacement wheelbearing back...still motering...

@discocycle Месяц назад

it's kinda insane to me that anybody would ever justify having 2 vehicles when they need a loan on one of them.....totally freaking nuts. If you can't buy it twice in cash, you can't afford it.

@blaakrose Месяц назад

Great to see you and Brandon actually together in the video walking the auction lot. Brandon has great information on car auctions and repos.

@edjarrett3164 Месяц назад

Until people refuse the exorbitant prices of cars, the car market will remain overstocked and overinflated. No one wants to buy an EV. they cost more, require you to find some obscure charging station, have few repair facilities and get totaled in normal minor car accidents. Let’s not forget they lose 50% of their value in 3 years.

@zootednative Месяц назад

they lose value so fast because the batteries are still subpar for their application. they go bad too quick to be practical from the stress of high voltage discharge and heavy usage. its all still too expensive to justify the price

@rbs0648 Месяц назад

I knew a lady that had her car repossessed after paying 10 years on it. Whenever the car need repairs; brakes, tranny, body work, etc, the "dealer" fixed the car and added the cost to the original loan which was at 35%. After 10 years she was unable to make her car payment, and it was repo'd.

@thesearentthedroidsyourloo1880 Месяц назад

Sad

@dcbc991 Месяц назад

Man that's criminal but I guess 'buyer beware' is appropriate here. A person who doesn't understand the consequences of interest is destined to pay a significant amount of it.

@wanda520 Месяц назад

Unbelievable! Never heard of such a thing.

@hiraether6209 Месяц назад

That's fucking hilarious honestly. Terrible obviously but it's so absurd it made me laugh. 🤡 World. The real time slow-mo destruction of society on purpose. It's worse than a cartoon.

@ledzep3692 Месяц назад

I bet the dealer sold it to another broke person for the same rate even though the car has been paid in full probably twice after the first 10 years.

@Justchill7007 Месяц назад

Well said Michael and Brandon You both always speak the truth of what regular citizens are going through not what the media is portraying.

@MIUBHI007 Месяц назад

Not sure if it's just around me (panhandle of FL) but almost every dealer around here are still thinking it's covid and have a $3-8K "adjust market price" on their cars with a mandatory lifetime warranty and all the stupid BS add-ons which is an additional $2-4k all while their lots are full. A salesman asked me if I needed some help and I responded with "Me? I think y'all are the ones needing the help,...Y'all know covids over and the car market crashed a long time ago for y'all to still be asking these ridiculous prices on these vehicles that aren't selling, right?" He just put his head down and walked away.

@NYCHairguru Месяц назад

Omg that made me laugh sooo hard ! I LUV it!!im gonna DEF tell everyone that story 😂

@ilc-nl3yy Месяц назад

It's not only that people can't afford new cars. Many people are hanging on to their money, including myself. I'll never buy another new vehicle.

@paulkelly4731 Месяц назад

Car repo's are like dead beat credit card debtors..... The cost is built into everything you buy...

@jasonk876 Месяц назад

They'll be dropping prices or they won't sell

@silverbear4312 Месяц назад

Plus people are getting laid off and companies not hiring. No money coming in barely. Market is definitely deteriorating for everyone.

@bencharlie9509 24 дня назад

More than that. Some second and third tier dealers (not the majors except for maybe Ford) have installed devices in their cars where you miss a payment they’ll turn that car off wherever you are. It doesn’t matter if your car is in your driveway or at a stoplight at a busy intersection. The car dies due to the kill switch. Ford actually just got a patent about a year ago where the car will drive itself back to a Ford dealership if the buyer is ordered for repo. It’s only a matter of time before all the car manufacturers are doing this. Just wait for it. How about them apples?

@markadler8968 Месяц назад

My good friend is the head of the leasing department at a major for dealer in Canada. He says it is absolutely grim out there at the moment. I was picking up the title for my truck as I had just paid off the lease and had him price me out the exact same truck as my 2019. With the higher interest rates/MSRP/taxes the total came out to just under double what I paid in 2019. I can afford a new truck but the value just isn't there. The prices are so high I just can't justify paying that much for a vehicle. Just the taxes and interest alone was about $30,000 CDN.

@MplsMaven Месяц назад

On average, a new car can lose anywhere from 10% to 20% of its value as soon as it is driven off the lot. This is due to depreciation, which is the decrease in value of a car over time. Factors such as the make and model of the car, its age, mileage, and condition can also impact how much value it loses when driven off the lot.

@francismarion6400 Месяц назад

100% inflation, thank you FJB!

@DeadEnDCrew Месяц назад

I've never bought the idea of having a car payment even at one point in life in the early 2000s i was lucky enough in that time to make 82k a year, that was amazing to have that kind of money in 2002. But still never desired any type of NEW CAR, i just bought cars that were affordable and reliable. My parents thought i was crazy and stop being a cheap skate, well in 2024, they know how i was never a "cheap skate" just planning "ahead" plus i liked my vacations more than cars

@lz2k7 Месяц назад

I'll drive my paid off 2011 honda until the wheels fall off.

@IP0Monsturd Месяц назад

Won’t be long now.

@kenchu5900 Месяц назад

ok, and then what? are you going to buy a new car, used car, or spend the money for repairs?

@monicaking7793 Месяц назад

My husband does his financing through his bank. He walks in with a blank check because he’s already set the terms through the bank. It’s the only way he will buy a car now. They don’t like when he walks out with that check. He gets the price that he wants to pay every time. He refuses to purchase right now because the interest rate is too high. He has an 800 credit score so he doesn’t have issues with that. Our car is paid off and we won’t be buying anything until the bubble bursts. He does all of the maintenance with the dealer still and they really want him to sell back to them. We just aren’t in the market now.

@cherylT321 Месяц назад

When Hurricane Sandy hit a few years back, the storm took my car so I needed another one to get to work. I borrowed money from my pension, setting it up so it would take two years to pay myself back…I was broke and miserable for those two years but, I hate owing anyone anything even to myself!

@brent4073 20 дней назад

Read The Bitcoin Standard. You shouldnt have to borrow against your pension. You should just have a pile of digital gold built up

@endofsociety Месяц назад

They are not paying their car notes because its now a choice to put food on the table, and pay rent, or pay the car note. Just saw my neighbors 8 yr old car that he bought used repoed a few days ago. He stopped paying for it because his rent went up a few hundred dollars. This shit is out of control.

@jimcrawford3185 Месяц назад

Extremely sad

@jfernsten Месяц назад

I know Brandon said he has to step back from RU-vid a bit, but love the collaboration. Hats off to Michael for making the drive!

@articulatemadness Месяц назад

Yeah, the clunkers he's been selling have terrible reviews on a lot of sites.

@B-isfor Месяц назад

Never buy a car with credit, buy what you can afford

@michaeldunagan8268 14 дней назад

Like-when is the every person supposed to raise $10-35k for a car.. ???

@DiFinni Месяц назад

2017 bought a new car, probably won't buy a new again. Took a part time job to help pay off the loan quicker. Only did the part time for about 8 months, but it helped me triple my payments for those months and knocked off the loan about a year and a half early, felt good.

@BeingInTheMessiah Месяц назад

I like Peter Schiff's go to statement, which is you need the malinvestments in the economy to fail, you need the high prices that are impossible, to come down, and if that means layoffs and lower stock prices, great, because those high prices and high valuations were illegitimate to begin with because they were unsustainable

@ryangramb2294 Месяц назад

This guy seems like a real expert. Nice to have this kind of interview for free. Thank you Michael.

@fuegowilliams6652 Месяц назад

This was the coolest collab , as a fan of both channels, thanks a lot for this !

@fredk9999 Месяц назад

Really enjoyed Brandon’s input. He really knows his subject and expresses well. Learned a lot.

@1stcommonsense Месяц назад

My friend has an auto detailing shop next to my electrical shop. He's overwhelmed with the repo's.

@SirCarlosMusicBMI Месяц назад

🎉🎉🎉 Hey 👋🏼 Michael I’ve been following the car repo situation for a while now and it just keeps getting worse 😢. Thank you for covering this. Just another sign that things are getting worse and worse 😢😢😢 You always amaze me with the new content you come up with. Hope that you and Lisi are having a great weekend. Blessings,Carlos ✝️🙏❤️😊🇺🇸

@Lisithedogwalker Месяц назад

Have a beautiful weekend Carlos!!!❤🙏

@Stacey-js1gm Месяц назад

If I don't have cash for whatever it is I'm looking to buy, I tell myself I can't afford it, and that is that. I call this method my inner parent. It usually works.

@jimcrawford3185 Месяц назад

That s unAmerikan

@Stacey-js1gm Месяц назад

@@jimcrawford3185 I was raised by members of the Silent Generation (post Great Depression), when America was (mostly) sane.

@jimcrawford3185 Месяц назад

@@Stacey-js1gm That s old world

@user-cl5ov9dx5o Месяц назад

These 2 have the most accurate information on RU-vid

@brent4073 20 дней назад

Im afraid they might get “Boeing Whistleblower’ed”…

@karatmojica Месяц назад

How long can a $2,500 used car last without needing repairs? When I was struggling financially, I opted for this route, but I would not do it again. While there's nothing inherently wrong with buying a used car, many vehicles in this price range tend to require repairs. Bringing a knowledgeable mechanic when purchasing a vehicle, preferably from the first owner (ideally an elderly person), can be the best strategy.

@jimcrawford3185 Месяц назад

6 mos

@stevenlaspes5823 Месяц назад

I bought a car for $700 In the early 1990s added for five years, never had one problem and rarely change the oil

@karatmojica Месяц назад

@@stevenlaspes5823 That's a long time ago.. Maybe you were lucky.

@johnberry2877 Месяц назад

@@stevenlaspes5823 Toyota ?

@JasonT-xp3kh Месяц назад

Buy a Toyota that was built in Japan and has good maintenance records. Also, budget for repairs when you buy the car. I bought a 2007 Scion TC 5 years ago for $2500. I'm still driving it. I've had to pay roughly $800 in maintenance and repairs in that time. That's including tires. All in all, not bad. Just find the right car and have the understanding that it costs money to maintain.

@jasonweishaupt1828 Месяц назад

Miami Vice & Dukes of Hazard collab! Sweet! ❤

@skapunkoialternativeliving6522 Месяц назад

I don't have that problem. Because I will never, ever buy a brand new car. No I will never owe no one money. Because I live alternatively, everything I buy is used and it lasts me for years. That's the way to go. Everybody wants to follow the Jones's. This is the problem, not your paying the price with your fools, not me.

@BREEZYM6015 Месяц назад

How does one live alternatively?

@stephengeorge3507 Месяц назад

Not everyone wants to drive around in THE THING 😉

@skapunkoialternativeliving6522 Месяц назад

@@stephengeorge3507 That's fine, but you can't afford to buy brand new. That's why all these problems are arising. But I don't have 0 problems, so I'm not complaining.

@skapunkoialternativeliving6522 Месяц назад

@BREEZYM6015 Easy downsides live small live due. Van life live a Harvey life is. I'm at home. Have a small room stuff like that. That's alternatively instead, a pain 1500 for 1 bedroom or tooth $1000 a month to an apartment which most people are doing. And they struggling and people have to do 2 jobs just to pay rent. I'm not in that position. I'm lucky. I'm welcome. I feel like it and I still. Live a productive good life because I spend a lot less money which means I have more money. In my pocket and I have emergency funds because of it, most UP will do not because you spend most of your money, paying the high rent.

@kaydublin5164 Месяц назад

Agree, The Jones’s are heading off the cliff, no thanks.

@timr31908 Месяц назад

The prices of automobiles are rate through the roof... I just like you to know that the quality of these cars is total junk look at the people's reviews it's just total garbage.. do you think because you spend $100,000 for a pickup truck that it's going to be problem free.. it's total garbage

@danbooher5843 Месяц назад

Prices are not coming down. Greed is going up.

@bencharlie9509 24 дня назад

Damn straight. Prices are not coming down at all.

@Theunknowndoodlebop Месяц назад

still driving my 2007 toyota hatchback. never really had a problem except water pump at 150k miles and also replaced struts and shocks, brakes, and one coil pack (computer told me what the code was). not trying to impress anybody. I laugh out loud when I see all the teslas and new suv's. I am in california and they are trying to charge the ev owners by miles driven now because they are not getting enough tax from gas sales. it's a vicious cycle. my license plate frame says "don't laugh, it's paid for".

@charlesstevens6860 Месяц назад

I'm not surprised to learn that EV owners will have to pay a 30 cent per mile surcharge in order to fund a deficit in the Cal-Trans budget....The California State Government created this (Fucktastrophe) and it looks like "The Monster" has turned around to bite them in the ( Ass!")

@johnberry2877 Месяц назад

I literally told anyone looking to buy an EV this was on the Horizon. The greedy sociopaths in Government will never take a pay cut !!

@pavman42 Месяц назад

FYI, I'm affluent. I own my 2011 vehicles and my home. I would never EVER buy an EV. Why? No reason to buy when I bought at peak reliability and minimal chicanery. No way on earth I will buy a new vehicle unless the incentive is there, and esp. w/ EV it's not. No way, EV is a money pit with range anxiety. I've had gas range anxiety. Never would I want EV range anxiety plus car note. You give EV for free, then we can talk.

@onezero9512 Месяц назад

Super cool to see you together, I watch both of your shows and never miss a drop. By following both of you I can clearly follow the economic collapse in real time.

@solomon1770 Месяц назад

Good for Brandon to be open and honest about the lending process and taking time to explain to others

@eyesopenedify Месяц назад

Breaking news. 50 year contract between the US and Saudi Arabia petro dollar has ended June 9, 2024.

@BREEZYM6015 Месяц назад

What does this mean?

@eyesopenedify Месяц назад

@@BREEZYM6015 That means the dollar will not have the same value. Anyone in the world can bypass the USD now. We'll see. I guess the dollar won't have the same global trading power.....You better start saving your seeds, stocking up on toilet paper, and learn how to make your own bread.

@francismarion6400 Месяц назад

The Russian Navy will be down by Florida in a few days. The Saudis are smart to distance themselves from anything western. The writing is on the wall.

@giselawatson2203 Месяц назад

I saw that. The met with the BIS. Yet I did not see it anywhere on mainstream fake news. This is really pretty serious. Petro dollar is toast.

@aveaguila7679 Месяц назад

@@BREEZYM6015 Putin was paying 70% of his buying in dollars before the war. As today's days is estimated that he is using only 20% of his shopping in dollars. Arabia Saudi use the dollar for its shipping and selling ( I do not know what percentage). But now that the deal is over ..that percentage will go down...

@lv7603 Месяц назад

I remember people around me getting into new cars they couldn’t afford they knew but didn’t care it was all about getting the most luxury.

@FD-nz7qv Месяц назад

Buy here pay here dealers aren't predatory lenders but instead provide a service for people who have burned every bank and credit and can't finance a wet piece of bread. Not paying your bills doesn't make you a victim.

@SaltyMeatHook Месяц назад

A repo isn't the end of the world for credit. The missed payments prior to are probably more of a menace. Pay it off if still owe after the auction. You'll be ok in a couple of years after that.

@BVAutoService Месяц назад

This is great news for private citizens that can purchase at auction cheap

@collinE83 Месяц назад

Bought a brand new 2008 Altima that was repo’d in 2010 and bought a cheap $2000 like this guy sells. I’m doing great financially now, but lesson learned: I haven’t taken out a car loan since, only paid for used cars in cash, and haven’t had a brand new car since that Altima. The plus side is no monthly payment has left me free to pay for regular maintenance and repairs without any stress. Still saving way more than paying the bank.

@Nonayabizness360 Месяц назад

We have a 3 year loan on our truck and we put down 12,000 cash on a used truck. And our payments are almost nothing , we did it to improve our credit because we both had okay credit and now we both have excellent credit. It should be against the law to charge people 20% !

@jamesgullo8240 Месяц назад

BMOC (Big Man On Campus) Syndrome is coming to a screeching halt. The days of look at me, look at me, are over. Having something you cant afford doesn't get you looks anyway. How many repo's had regular oil changes?

@robertmanley2687 Месяц назад

Always wore his letter jacket

@chrishart6439 Месяц назад

Guy's, always....get pre-approval from your lender!!!! And, go shopping when the dealership is closed!!!so you can really see what they have, read the invoice sticker ect. Stick to the down payment you 👐 can afford. Don't let them tell you more down. If they do, walk out....

@AustinShockSS Месяц назад

Yes this! Never let the finance guy at the dealership be in charge, they are worse than the sales guy. They can’t tack on extra stuff/interest if you already have a loan ready to go.

@toddprater14 Месяц назад

There’s peopleswhos cars are gross and stuffs tore up and their rides not a repo… just depends on the person. A clean persons car is gonna be clean up till the day they have to give it back to bank or a tow truck comes to get it… your either clean or a dirty person- period.

@paulfustin6181 Месяц назад

Haven't had a car payment in 23 years. 2001 Chevy Silverado 1500 with the 4.3 I bought new in 2001. 78000 miles on truck

@EvelinHolmes Месяц назад

Good for you. Our last car payment was in May 1977. All cash since then .We are longtime keepers even in marriage 56 years this year. Call us boring .

@390WagonMaster Месяц назад

I like seeing you colab whit Brandon EDIT... Bad credit score will also raise insurance rates as well. Repos go beyond just that vehicle.

@pensacola321 Месяц назад

FDJT, U & MAGA 🤡🤡

@daw764 Месяц назад

Great Colab! I watch both channels!

@vicdozer Месяц назад

Brandon is super well versed in the car sales industry, as well as a benefit to Michael’s channel. Good job Michael 👍👍

@Ridesaway24 Месяц назад

I love cross-over episodes. As always, thank you for your insight (x2).

@KathyPamela Месяц назад

Always entertained by your content, it's awesome!

@marklane870 Месяц назад

Don Johnson style

@BREEZYM6015 Месяц назад

Hi Kathy.

@TimOBrien-zi2dx Месяц назад

Hey Michael just watched Brandons video with you in it and now yours. I always enjoy when you guys do vids together. Keep up the good work

@user-mt6hx5zn7y Месяц назад

This one hit home for me. I watch both of your channels all the time. My wife and I have worked extremely hard to pay off our home and 3 cars . We live well below our means. Last week, someone stole my car right out of our driveway. People with bad credit, no credit, and no money don't care. They will just steal what they can't afford and leave those of us who work hard for everything to deal with the aftermath 😢

@patfiore7510 Месяц назад

We want to thank Brandon for all the info he has given us a lot of quality advice we're headed over by his channel now

@tizzx4945 Месяц назад

What a great collaboration! Always wanted to See you both in a video!

@boldorbroken Месяц назад

So many people on here saying people are stupid to buy truck's and suvs. I've had nothing but bad luck with cars. Recalls, mechanic costs etc. I currently have a 20k pickup truck I had to finance because I didn't have 10k in cash to buy a decent vehicle back when used cars were skyrocketing in price. I'm glad you found a deal, bought your home before the real estate bubble etc. Be grateful. Some of us are trying to start a life now that it's almost hopeless to even try now. What's next? People complaining about others spending excess money on food? Get real people.

@thetapheonix Месяц назад

Nothing wrong with a cheaper truck or SUV, the problem is people paying $100k for a truck which is what Ford and Chevy are asking and people are paying. It’s ridiculous.

@AlenAbdula Месяц назад

Taking out a loan is not a bad idea if you know how to budget, use your credit wisely, and pay down your loan quicker than what amortization schedule says.

@johnberry2877 Месяц назад

General Motors cars ?

@tmoni7839 Месяц назад

Michael ty for your reporting on our economic crisis and the group of people in different areas of business that is making us aware on where we are as a nation financially and becoming more aware and accountable as to how we spend money on supply and demand to survive in our country.

@AnitasDreams Месяц назад

On May 2, 2024 in The Dayton Daily News Sunday paper there was a half page of car repos. I hadn't seen that in a while. My husbands car is paid off & it is a 2016 Encore & we had to put $3,000 into it recently but that was cheaper than going into debt for a new car.

@jimcrawford3185 Месяц назад

Yup My 2016 Hyundai swallowed a valve and had to pay 4 grand for a new mill