BREAKING! Americans Now Owing More Than Their Cars Are Worth!

[@rickyaz8640]

Buying a new vehicle every 2/3 years is the road to disaster

[@markholubetz]

Yes a person will never own anything but be in a long term cash dump

[@Spaethon]

My car is 25 years old and purring. Gotta love older Japanese engineering.

[@666dynomax]

Those ppl could have been millionaires and didn’t even know it cause they want to impress other men at traffic lights. My paid for 2014 tundra does everything a new one does I’ll show you

[@chltmdwp]

@@666dynomaxdon’t kid yourself. Your truck can’t remote start or drive by itself compared to new vehicles.

[@Vincent-ke5zn]

You're 💯 %right about that, unless you pay it off in 2-3 years

[@Spaethon]

I paid 1,100 bucks for my car in 2015. She drives great, lots of fun (90s manual), very cheap upkeep, 236k miles. Here's a giant exclusive secret... shh... Maintain, your, car. Crazy right? With KZbin DIY and dirty hands, I've done all kinds of maintenance work to my car, with zero mechanical background, all by myself. Most recently changed all four struts, tire shop quoted me 1600, did it all for 300. And I get to keep the tools! Done quite a bit of work to her, probably 5k worth since '15, but my goal is that antique plate and another 20 years ahead. Gotta love 1990s Japanese engineering. Best of all, she's PAID FOR. Sure it's a risk, had a few minor breakdowns, a tow once, but you live and learn. I keep tools, plugs, extra parts, fluids in the trunk. I'm no genius. I'm just ahead of the curve, thanks to knowing the direction our country is heading.

[@johnmourer5747]

Smart.

[@denise8242]

Debt, debt, debt. This country is all about debt. It has to stop.

[@markholubetz]

So many people simply don’t know how. No self control

[@milesdyson]

Heaven forbid wages come up

[@davids.9834]

and its incentivized. Its going to be hard to change when even the government is running on borrowed money. Mark my words...... this is not going to end well and this ship needs to be turned around. When and where is the end? that is the unknown. I will say this. Ukraine and why is it causing such a stir? Why is there so much concern, I mean Russia has done this type of thing many times including in Ukraine. The concern is that even with Tarrifs Russia is able to build tanks because Russia is still old school. They dont care about the stock price or GDP....... the government says build tanks and the factories build tanks. It could be a massive problem for us in the west, in the future. What if China, Russia, India, North Korea.... etc... decide not to stop with Ukraine? Do we still have the power? Are we as strong as we think we are? I dont think we are and some bad actors in the world smell blood in the water. Its a hypothetical... but its something to ponder.

[@666dynomax]

It's a relatively new problem. Paying for yesterday tomorrow. I’m going through my own reset. Cars paid for. House next. I’ll be taking on no more debt. We caused all this out inflation ourselves borrowing our way to what are parents worked years and years to have. 10 years ago I built a house for the same price what a fairly loaded up ford costs. Imagine the house I cold have built for raptor money. Tell me in another 10 years which one will be worth more

[@themusers03]

Passed by a dodge, jeep, ram dealership and the lot was full of inventory 😂

[@BMD2024]

No Kidding......just had to have the newest, latest and greatest iphone on wheels. People are stupid to pay what they are paying for an asset that depreciates the moment they leave and continues YOY.

[@puravida5683]

I'm still enjoying driving my 2006 Toyota 4Runner V8 Sport Edition!

[@RonWeber-t9y]

I have the exact same vehicle and still loving it!

[@666dynomax]

One of the best vehicles made in Japan. Does it have the 4.7? Million mile engine

[@autofox5.067]

Not me! My wife and I have 8 vehicles together. They’re all old but they’re all paid for. Some are dented and others are rusty, but we get where we are going just fine. We can also fix anything that goes wrong with them for the cost of one new truck payment.

[@Spaethon]

I have just one car, but it's a '99 Little Mirage with 236K miles, in Florida since day one, in great shape, purrs, strictly maintained. Cars will last forever if you follow the owner's manual to a T

[@rayrdelle]

OMG 8 vechiles? I'm very impressed😮

[@autofox5.067]

@ like I said they are old, the newest one is a 2010. I also use to mechanic for a living but they all actually give very little trouble.

[@milesdyson]

There are only 2 engines I buy in one of 3 cars.....the 1.8 4cyl Corolla, or the GM 3800 in a Grand Prix or Park Avenue. All available for cheap, and will outlast any garbage being made today. Been driving 24 years never been stranded with these engines and they're easy to work on, I'm not a mechanic.

[@oldschoolgamer5113]

Just stop buying them wtf. So simple.

[@Pepadai]

No Kidding. I don't fill sorry for Idiots

[@bradbowles1153]

We bought a used 2017 Toyota Sienna with 26k miles in 2019 for $28k at 4.5% interest. We aren’t getting rid of it anytime soon. We owe $7k and it’s worth almost $20k. Cars aren’t cheap and money isn’t cheap these days.

[@CMBBmc-jd6ur]

That was a good buy. I bought a ‘19 Frontier Pro4X last June w/ 31k miles for $28k. Already paid off $11k of it.

[@travisclark7892]

It's crazy you still owe money on a car you bought 5 years ago.

[@Spaethon]

Very happy I found my car in 2015 for $1,100. One owner, who actually knew how to drive a stick, been in Florida since 1999. Barebones basic little car. Very easy to maintain, very cheap, Japanese. $43/mo insurance, 38mpg, 236k miles, purring. Maintained strictly. KZbin DIY saved me a small fortune, legit. We have our own little ways of getting along through life.

[@tylersowa3858]

Sounds like the car market is gonna collapse

[@YouSoundButtHurt]

It won't. Just like people saying housing will collapse but it won't.

[@Spaethon]

I think lots of people will throw in the towel and buy older used, which will skyrocket the cost of them. Best to get an old cheap great car now and maintain the hell out of it.

[@icosthop9998]

​@@Spaethon yes

[@S44BBOI]

@@Spaethon already happened.

[@Shaolinof36thChamber]

Let it collapse. Maybe then they will give some good prices.

[@crlaw75]

Once again, they did it to themselves.

[@markholubetz]

People will never learn

[@Jan96106]

Buy a cheap car or cheap compact SUV when you need a new car. Save up for it, and pay cash.

[@sharlawya6868]

It’s time to Kick Off that Let It rot in the Lot movement. 100K for a damn pick up truck! Sorry, ya’ll did it to ya’ll selves people.

[@johnmourer5747]

100k used to be the price of a home.

[@sharlawya6868]

@ Yeah, back in early 90’s😁

[@betitos11]

Did people really think paying stupid prices wouldn't have stupid consequences?? That way they'll learn 🤣🤣🤣🤣

[@zman6288]

This has been the story on every car I've owned.Cars depreciate old news

[@timmietz]

Negative equity is nothing new. Come on now! The only thing that has changed now, is the fact that between late 2020 and very early 2023 most cars were selling over sticker. Now things have come down to normal and that has created a big number of cars that are severely underwater pricewise. And yes, it’s going to last until 2027 or 2028. It is what it is. Anybody who wants to stay economics just a little bit we would’ve predicted this.🤦🏻‍♂️🤦🏻‍♂️

[@MagnumMacgiverPI]

My F150 I bought in 2020 was $53000 tax in. Now the same truck is $72000 before tax. Price is out of control.

[@YouSoundButtHurt]

53K was too high back in 2020 for a F150. lmao

[@travisclark7892]

53000 was overpriced

[@mattrandall1808]

​@@travisclark7892 more than double what it should be

[@calidecali]

@@MagnumMacgiverPI bought a 2018 mazda 6 in 2021 for 22k with 13k miles. Love that car and will keep it for a good while. Trucks are becoming dream cars, like a Porsche, an Aston Martin wtf

[@aaronwilkinson8963]

​@@calidecali now even pick-up trucks are a luxury item

[@GD15555]

it's the design to blame. They refresh them with better leds every two years like a new sugary candy

[@blackgrandpa7652]

My 2015 honda accord touring runs and looks like new im gonna drive it until it dies 😂

[@Shaolinof36thChamber]

Our Honda Fit from 2009 drives like new and looks great. Until today, zero problems. Top quality!

[@coreylucas5997]

It’s sad when you have crappy dealerships that don’t wanna budge on the pricing when soooooo many on the lot, and they are like they will sell, they LIE they are not, I’ve made so many inquires on vehicles that are end of year so called sales they say October to end of year is the so called best time, well it’s really still a hard time 😢, I mean my vehicle is old with a boat load of miles and I don’t have money to up keep with labor and parts cost, the days of good old A to B non luxury vehicles shouldn’t be this hard, I’m asking like 3-5 off MSRP before I discus down payment or trade in, this is just beyond the consumers control, but I’m so determined and patient but once January hits and all the 30 grand plus small SUVs hit, IM DONE if I don’t get a great deal on the year before model years that are left. 😢

[@dave3657]

Look for a good used car. I bought my last used Toyota 12 years ago off a small used lot. Gives you time to save up and wait out the car market till things get better.

[@kellingtonlink956]

As Karen Carpenter once said, once ‘sung’… “We’ve only just begun…”. Thanks for the video.

[@bobbyj454]

It’s foolish to buy a new car when you know prices are inflated and due to come down because not only is the value of your car going to decrease but you also have the regular loss that comes naturally when buying new. There is almost always a cost when making bad decisions.

[@Spaethon]

I'll drive 90s cars for the rest of my life :)

[@M4rt_FX]

Not if you can afford it, it’s those taking finance to buy cars who are making the idiotic decisions.

[@icosthop9998]

TY 👍 More people should be viewing this video.

[@TimP-p2h]

90 percent of the time your vehicle is just sitting in your driveway..

[@yuleowens6441]

JUST paid off my 2018 F150. Feels great, I don't plan on buying any new vehicle for a while. I think the key to longevity is going to be maintenance and baby the vehicle.

[@worldhello1234]

@7:38 Least depreciating new vehicle? Clearly a Dacia Duster.

[@barrywhite5899]

I’m so happy I’m not on the hire purchase lease wagon. If when you get paid you give your money immediately to somebody else, you’ll continue to be poor. I find it ridiculous that an organisation/business can make these vehicles with no buyer. They take up so much energy and raw materials to make and the sit around for years with no buyer. There is no other manufacturing like it. I’m here in England washing out yogurt pots so they can be recycled and Americans are building 3 tonne Ford pick ups that nobody wants. It’s mental.

[@keithkamps77]

Love your videos, I wouldn't consider a vehicle purchase as an investment where a house is a car purchase in my eyes is money thrown out the window and a necessary evil in a lot of cases.

[@tylersowa3858]

Makes me glad I don't support no new vehicles due to their cost and unreliableness

[@Darklogan-r4b]

How do you have equity in a depreciating asset? Vehicles are always depreciating, unless it is reclassified as a classic car.

[@kaiser7525]

My previous car was 11 years old old when I sold it, once the powertrain warranty was up I started saving 75$ every pay check, I put a huge lump down on my current car and paid it off in 3 years. I’m just going to do the same thing in 2 years when the powertrain warranty is up to minimize my payments and car payment term.

[@travisclark7892]

You're a fool.

[@aaronwilkinson8963]

Maybe we should take care of the vehicle's we already own and buy used vehicle's. Let the poor schmuck buy it new and sell it to you at 3 years old for half the price.

[@it1988a]

I bought my wife a new car for her birthday with Chinese financing...one lump sum.

[@dave3657]

One reason the lots are full of overpriced vehicles is to steer people into buying an EV. But this EV mandate isn’t sustainable, the market will drive what happens. But there are always people that only look at monthly payments and nothing else.

[@markholubetz]

You are right. People will buy what makes sense

[@robocop581]

Even dumber, some buyers on 7-year financing think bi-weekly payments are only 24x a year

[@Jay7682]

I own a 2016 Toyota Camry, paid off. I also bought a 2016 Corolla S Plus this past July. I financed that for 5 years, small monthly payments as i put a lot down on it. What amazed me was the salesman trued to upsell me into a brand new Corolla LE that was over $10K more than the one I bought. Yea it had a better interest rate, like you sted, since it eas newer, but id still be paying nearly $12K more overall after all was said and dine than i would on the 2016. Nit to mention the 2016 was the Sport S Plus one in the Blue color that i actually wanted. My cars always last because I taje care of them and aldo i dont put a lot of miles on them. Ive had the Corolla for 5 months now and i have put only about 2500 miles on it. My 8-year old Camry has only about 118K miles on it. Its wild to me that my fellow Americans out gere are still trying to keep up with the Joneses in car buying. I have two of the most reliable cars out here in Camry and Corolla. Both are 2016s and both will last ne a long time even at already being 8 years old. People just need to take care of what they already have.

[@roadrunner711]

So much content out there for Americans already, could you also do the same for your local canadian viewers pls?

[@Vincent-ke5zn]

I just saw your video about your great used vehicles that will last longer

[@TomEdwardi]

!I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $2m+ before retirement

[@YevaSonia]

As a newbie investor, it’s essential for you to have a mentor to keep you accountable. Kristine Lynn Weber is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.

[@OdessaYeva]

I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Kristine Lynn Weber, for her expertise and exposure to different areas of the market.

[@YevaSonia]

I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $200k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.

[@OdessaYeva]

Without a doubt! Kristine Lynn Weber is a trader who goes above and beyond. she has an exceptional skill for analyzing market movements and spotting profitable opportunities. Her strategies are meticulously crafted based on thorough research and years of practical experience.

[@TomEdwardi]

how would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally.. What's your take on this approach? and How can i reach her, if you don't mind me asking?

[@calidecali]

It's a world with the elite on top ( celebrities, athletes. Influencers, CEOs, OF models) and there's US! 😂😂

[@markholubetz]

That’s sort of the bottom Line

[@gtech66]

I bought a new vehicle and had it paid off in 6 months. It's not hard to do if you save up for it.

[@Jb-mp1in]

Honestly a lot of people are putting little to no money down because there's probably a collapse coming and people just expecting to just let the vehicle go stop paying it

[@chonkyb3134]

GM 3rd quarter profit was $3.4 billion

[@davids.9834]

Sales are down but people are obviously still buying. The only way prices drop is if interest rates go up..... to what I call the historical normal, not the historical low we have been in. Yes there will be fall out, but it needs to happen because the alternative is worse. We cant keep running on borrowed money.

[@gorddearmond7134]

Great video Mark! I wonder if you kind find out why certain Toyota hybrids (corolla cross hybrid ) take so long for delivery. My dealer in Saskatoon tells me 12 to 18 months. Are they doing this artificially just to keep the price up? I like your videos, but not all of us are looking for a truck. Cheers!

[@paulbroderick8438]

$70,000 truck to go to work in, grocery shopping and sits in the driveway the remainder of the time. Wonderful!!

[@markcarr1149]

Even if the new vehicles go down in price enough to eat up the negative equity the lenders still don’t want to do the deal

[@Duncangonefishin]

Just looked on my local Ford dealers website in a town of 95,000 people in British Columbia, they have 758 new vehicles in stock, that's one dealer....lol

[@mazdafan22]

It’s the consumer that controls the price of New Vehicles. If everyone just stopped buying new vehicles and refused to pay these outrageous prices, the manufacturers would be forced to drop the prices

[@worldhello1234]

@1:18 Those are all factors alongside corporate greed.

[@d_all_in]

Profit margins are single digit. Stop ignorantly repeating anti-capitalist propaganda.

[@SRA-n6j]

This will roll over hard next year. People overpaying for used cars now. Will be ugly.

[@mr.joshua2937]

Vehicles aren't just increasing in prices due to 'technology' its also due to greedy dealer owners with insane financing rates and ridiculous dealership fee add-ons.

[@Penske_Logistics_Roseburg-Ore]

I got my 2020 Dodge Grand Caravan, and it look like I'm going to drive that for the next 10 years. Vehicle prices are Evil and insane, this is greed. I do not need a new vehicle, my 2020 Dodge is still looking clean and new, two drivers my wife and I drive it, she is her truck which is a 2022 Ford F-150 fully loaded. But we will not buy any vehicles unless we cannot fix the ones we currently have.

[@KNIGHTOFELEMIA-i7i]

People want basic and cheap an F-150 with leather and a screen nobody wants that truck will sit longer then an XLT with cloth seats priced less.

[@jayc4715]

Nah

[@crisgon9552]

I went to buy a Toyota RAV4 and the price was still high. The dealer told me Kelly's Blue Book value isn't important lol. I decided to walk away, on my way out he offer me a newer Audi, for less miles, for same price. Can't make this shit up haha

[@aaronwilkinson8963]

The moment your brand new car leaves the show room your car value drops by a third even up to half of what you payed or borrowed. So if you got a loan for it you are instantly underwater.

[@stevengiroux1753]

That big truck is nice.. but the price is to high an the only guy who’s gonna buy that is someone who’s gonna lease it for work, or dealership will have to buy it and will resell it a year later for 98k on that white truck

[@OldDarkHouse-t7h]

You should also mention buying a new car with 84 months of payments that has a 36 month warrantee could leave the owner with making massive payments and a $6,000 transmission replacement., or other major engine work.

[@AlexLancashirePersonalView]

"Progress" is killing car companies.

[@turbosube5083]

This isn’t a new trend. Because of longer loan terms and some financial institutions compensating for loaning to lower credit scores with higher interest rates a lot of buyers have negative equity, especially in the first few years. The fact is that more buyers care about the payment than being in a negative equity situation for the first 3 or 4 years of a 6 year loan.

[@mattrandall1808]

You know its messed up bc the kbb value of my crv is the same as the price I got it for new in 2019.

[@ninerknight5351]

Doesn’t matter much to me. I’ve had my car since long before the last bailout.

[@BLIZZO-m3d]

It's not worth going into a loan for 7 years I told a dealer no way still driving my Truck just looking only has 55.000 on dash

[@tonywhite425]

you lose 50%when you drive it of the lot

[@666dynomax]

Considering I see 10 year old fords going for $10000. Seems like a real good way to finance a new 70k truck end up paying 100k for it and get 10 back when you are done with it. Someone tell me how the heck that is a good deal. I’ll run my 2014 tundra thanks.

[@haroldtisdale3359]

Interest rates are not great. New cars are poorly made and overpriced

[@rayrdelle]

who can afford $97,000 for a base model truck.!? 😮

[@marksman4004]

Everyone minus well get motorcycles. Way cheaper than car. Of course you can only have one passenger but you can cut through traffic like it's nothing.

[@chltmdwp]

This is music to my ears. I’ll pick these up when those idiots sell it :)

[@CADILLACJames313]

I'm about $8k underwater on my ct6😢 I'm not gon panic even tho seeing that number of what it's worth Vs what I owe is scary. Lucky for me I still absolutely love the car gon continue to make the payments and make sure I keep it with a warranty

[@jwalka534]

Ditch the warranty...they are a joke. They never cover what's broken. It's cheaper to pay for it when something breaks down!

[@CADILLACJames313]

@jwalka534 guess it depends on which company🤔 I got a bumper to bumper warranty with easy care and they gave me zero problems so far. If you know about the problems of the ct6 it probably already paid for itself.

[@ROKKANS]

We call them clowns 🤡🤡🤡🤡

[@sammyjammy6647]

The title of this video should be “water is wet”

[@youtubepremi1977]

Yes Go and Buy a Rice Burner!!!

[@Vincent-ke5zn]

Anyone who pays more than MSRP has more dollars 💸 than sense

[@M4rt_FX]

Stupid people are borrowing money they don’t have to drive new or expensive cars. Saying prices are ‘forcing’ people to get large loans is not true. They’re free to be idiots, that’s what’s great about capitalism.

[@mattmason7554]

All about to break. Recession is coming

[@turbo8454]

Fools and their money are soon parted.

[@markholubetz]

Bingo

[@SRA-n6j]

84 mos loan terms are so red flag

[@dennissvitak5475]

Completely expected, when cars are being sold with five to ten thousand dollars in dealer markups. All well and good until everyone goes back to work, and the car lots are full again. Nothing to see here, move along.

[@dennissvitak5475]

I sold my 2017 Subaru Outback 3.6R in April 2022 for $29k. I paid $36k for it in 2017. The poor bastard that purchased this five year old car for $30k two years ago still owes $24k on a car now close to eight years old.

[@phiberoptik232]

If it's " infamous" (Toyota Camry) I probably don't want it. Check out the definition of that word before you use it again.

[@MeaHeaR]

"infamous " Camry ??? I think Shé Meâns "ubiquitous" Camry ????

[@mattnorman5241]

only poor people by gm cars

[@aaron042671]

U sound like a liberal by saying inflation isnt reason for high prices. 18 Sierra elevation was $42000 CAD. Today it’s $72000 - tech is almost identical to. So $30000 is 10-15 Mac laptops, why is it worth that much more

[@RS-ft7nv]

People buying

[@chriswashington5440]

Cause your ego keeps you from buying affordable vehicles,stop bitiching cause reality keeps you in debt

[@frankiebflat5728]

Damn

[@DanielRundellpnw833]

if Trump wins you think car and trucks prices will go down

[@richardgiacomotti404]

👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍👍

[@MeaHeaR]

Why do Yankks need those MASSIVÊ Tanks und Trucks ¿¿¿

[@YouSoundButtHurt]

Some do, most don't. USA is a big country, however, and a big vehicle is better to go long distances with.

[@tylersowa3858]

@@MeaHeaR Little man syndrome for the most part

[@jordankline5520]

I need it to hual my gun safe to help defend my country when a foreign country invades Canada and tries to cross the border into the USA🤣

[@halestrum77]

People got conned into believing that bigger=safer

[@CMBBmc-jd6ur]

To keep up with the other people who have them basically.

[@Joseph-kq9zc]

I bought a Cadillac ATS at the beginning of Covid, sold it after it ended for more money than I bought it for. Probably the first Caddy in history to be sold more than it was bought for😂

[@netko183]

With this price of car USA is finish plus house is to high price