It HAPPENED! Car REPO CRISIS Spikes! Never Seen Anything Like This!

It HAPPENED! Car REPO CRISIS Spikes! Never Seen Anything Like This!
Our latest video helping you buy cars is all about understanding repossessions and how to avoid that.. We're breaking down the situation so you can buy your next car with ease. If you're out shopping for cars, SUVs or more, this video will help answer to you , how so many people have lost their vehicles.
Oh yes, and don't forget to SUBSCRIBE for more car lovers lifestyle: / @markholubetz

[@RickTheClipper]

The best life is a live without debt

[@markholubetz]

Exactly, not owning anyone anything is a great feeling.

[@briguyinsi]

I agree to an extent, I keep 3 cards with no more than a 5k total rotating balance between the 3 to keep credit really high, but I owe nothing else besides a low monthly car note lease. People are out of control w the credit.

[@mkashay]

That has always be my MO, as much as possible at at rate. I am now 58, they last time I owed money was a mortgage I paid off five years ago. I never had auto debt, except for a few times when they offered either zero or near zero interest rates. At any rate, in trying to limit debt, I invested it, and will now never need to borrow again. It is much better to live below your means when you are young, and if you do so, things will be much better when you are older and do need the money.

[@Mikk-t2o]

Idk I'm self employed.recent debt free.bit ezeer 2 b bit laziour.

[@colecadieux9370]

Ya i don't have debt. And for a birthday gift I bought 5 caribou crossing wiskeys. Mmmmmm

[@TechJedi29]

I am going to just keep saving my money and laughing at the people buying at these prices. My 24 year old truck still works. Do you realize how much money you would have if you put the avg car payment into the market for 5 years at an average clip of 7% return.... I rest my case... people today are caught up in the FOMO but , once you get over that you really start to get ahead and can begin saying " Do I want To"? Vs " Can I afford this"!

[@Ghostmanriding]

My 1996 Silverado 2500 extended cab, long bed, runs like new at 170K miles. Air blows cold, custom stereo. Why would I get a new one?

[@TechJedi29]

@@Ghostmanriding you sir are a smart man ... Not to mention... The new stuff looks like a cheap toy.

[@greathey1234]

All repo people didn't spend their own money, they're on loans

[@lot2196]

Paid off home and vehicles. No credit cards, never went to college. I sleep well at night.

[@TechJedi29]

@@lot2196 you have what 97% of people refuse to for some reason. And you have common sense. Well done !!!!

[@curtwarkentin2887]

My 12 year old truck is still going strong. Best feeling ever no longer paying a huge vehicle payment. With vehicle prices now I'm becoming happier and happier to say no thanks, I'll keep my old truck because it's paid off.

[@markholubetz]

That’s how I am also feeling about my old Ram

[@TS-wh4ey]

People signing loans for what they can't afford. 😮

[@markholubetz]

Wy too many people living beyond their means

[@Vincent-ke5zn]

You were very smart buying that Honda Civic for your daughter. I hope that she has very many happy miles and I hope that she stays safe 💗

[@markholubetz]

Thank you very much and yes we also just got back driving from Alberta to San Diego California and back with that car. Awesome little ride.

[@KetoCaNa]

Car repos have to start hitting hard, no way people can afford the $1000 plus payments they signed up for

[@JoeSmith-v7o]

Prices are also higher because of the money printing press devaluing the currency.

[@markholubetz]

Absolutely true to that. Money is worthless...or trending that way.

[@stevesmith756]

Bidonomics

[@yorsan2240]

They don't even have to print it , writing debt out of nothing with the highest interest rates on record, credit cards at 30% should be considered more than shark loans, it's criminal

[@sammy_rn5621]

100%

[@MG-ge5ii]

Inflation is definitely hitting buyers ability and/or willingness to buy new vehicles, but don’t be confused. These manufacturers are greedy as F#@k! They’ve raised prices massively and focus on building these highly optioned vehicles that cost half a fortune. It’s ridiculous.

[@princeali3853]

During the Government packages, I just bought food and paid utilities. People should have been smarter with money that doesn't belong to them.

[@markholubetz]

Cheers

[@notreallyme7465]

I bought guns and ammo. I can protect myself and my loved ones and I can hunt for food.

[@princeali3853]

@@notreallyme7465 Well, if you can hunt and live off the land, go for it is I would say. Bullets have gotten expensive so, I guess you did good... 😊

[@Livefreewhileucan]

Well said Sir

[@glennshayne1985]

When considering a vehicle purchase look at one's that seats fold flat, it could become your future abode.

[@orionschroeder9401]

Excellent video Mark, as I've said in your comments before, the Automakers, along with our Federal Government in Canada is truly out of touch with the people. Consumer's cannot afford these ridiculously priced vehicle's, along with the cost of living etc. life has simply become too expensive for many, hence the rise in Homelessness etc.

[@markholubetz]

Thank you very much and I agree, the cost of everything from food, to cars, to homes and taxes which have been turned up to a volume of 11/10 means most Canadians are simply "getting by" on a good day and sliding off the edge on a bad one. Hope you week is going well, and we are watching for better deals , to which there are some deals coming down the chute. Cheers

[@fpvtrucker129]

When I am out working in my yard I am seeing 4or 5 wreckers day coming out of my area I live.

[@effend446]

I bought my brand new 2019 Honda CR-V just in the knick of time…….right before we went on lockdown. (I lost the engine on my 2007 Toyota Camry due to a blown head gasket after nearly 250,000 miles.) Got it for $22,500. No money down. Base model/2.4L (not the infamous 1.5L turbo). More than 4 years later, Yeah I racked up over 100,000 miles, all trouble free. And it’s almost paid-off. Safe to say that I’ve definitely been getting my money’s worth. And I plan on keeping my CR-V for at least a couple more years after it’s paid off.

[@Tavi-u4x]

I used my stimulus for essentials I saw people using their stimulus like they won the lottery Its common sense The stimulus was NOT permanent Its beyond me why some people think when U get money you're suppose to blow thru it A car should be freedom not a mortgage payment I bought my final car Paid cash 2020 Honda Wonderful knowing the bank cant touch my car Thank U for your service👍👍👍

[@waterboy330]

My wife and I saved money for 3 years to replace a 23 year old SUV. We ended up with a nice used Rubicon with a really low car payment. You can have nice things and keep them if you’re responsible and play the long game.

[@jeffreycheng5984]

"The Federal Reserve System is not Federal; it has no reserves, and is not even a system at all. But rather an international criminal syndicate."- Eustace Mullins.

[@LJC370]

He who controls the money and its system, governs the slaves!

[@zaphodsrealm1549]

...and it's privately owned.

[@builder_for_life4490]

Yup! I strongly agree 👍

[@laqutis]

One channel says people are still buying expensive vehicles. Another says dealers can't sell. Which is it?

[@pmscalisi]

Depends on where the creators live. This economy isn’t the same everywhere.

[@40below1000]

That crapped out Pontiac at 6:00 will run longer and cost less than any $100,000 pickup on the lot. That is in the dealer's $500 corner and I get all my cars there

[@glennstiller7616]

You're right about electrics. My wife thought it would be a good idea to buy one to save money on fuel, which she did due to how much she commutes. She HATED every minute of it and it lasted 3 months. Range anxiety is a real thing, believe me. She now has a Wrangler sport with a manual transmission that the dealer made her a great deal on the price to help absorb the HUGE loss on the EV.

[@jacobgraves3505]

Yeah, my wife’s and my vehicle are paid off and the both run fine. We are not trying to get into 1000+ dollar payments a month. Some of these prices are more than I paid for our house.

[@jimbobaggans1564]

People don't look ahead. Why burden yourself with sky high car payments? Why do that to yourself? But, people will still buy something that they can't afford to pay for. And, they know it when they buy that vehicle. Not for me. I am not buying any vehicle only to pay these outrageous prices.

[@TATERNUTS1]

5 years ago i had a paid off house at 38 years old. I had 1 car with a note and 1 car paid. Today i have a 100k refi loan and still 1 car note and 1 car paid. I make more now then then but everything else is more. I also had a health problem so i needed to take money out of my house. Cost of living crisis is real and people need to only buy for needs not wants. Wants should be removed from our dictionary .

[@JohnZolla-bp7tl]

I'm not paying more for my lease today than I did in 2018. My mother didn't raise no fool !

[@markholubetz]

Nice. Best way to live within the means of

[@jefffujioka8609]

Like said...cost of living is so high.. Hope for buying a home is way out of reach....thus bringing anxiety to the young.... So buying a vehicle...only for the rich...

[@Livefreewhileucan]

We have more 2500 and 3500 diesel grocery getters in my city than I have ever seen before. I dont get it. Who buys a 120k ultimate for groceries

[@Technocrat.]

I wouldn't pay $14,000 for Equinox or Terrain. 1.5L Turbo engines are pure trash 🗑️. Most of our Company techs had these and ended up blowing turbos not once, twice but three times. Especially in Mountainous areas. Tiny engine struggling to maintain speed on mountain roads and turbos Screaming to keep performance up. Boom 💥!

[@espoespo3557]

70K for a car is crazy. Who is buying them?

[@markholubetz]

Thats a lot of cash

[@espoespo3557]

@@markholubetz I came to the US in 2002. I saw a new Toyota Corolla for 7K and I thought it was outrageous 😂. Gas was 99c per gallon. Times have changed.

[@jaym4052]

Manufactures told us they were going to do this, though I’m sure they didn’t see it ending like this. Back in I think the later half of 2021 and I wish I would saved it but the came out a said the were going to decrease production a focus on all their top tier models. So the writing has been on the wall for awhile now.

[@dave3657]

I learned to put money aside for years, when I have enough in the bank, only then can I buy a new car. This way I am making interest and not paying interest. 🏦💵 I can then negotiate a car deal un-financed, or financed. Several times the best deal was financed, so I did, then paid it off on the first payment. 😁 🚗

[@markholubetz]

Nicely done and thanks for sharing with others

[@taytaysd6173]

How far out of mine do you have to be to be willing to pay 100k for a jeep?

[@briguyinsi]

I’m sure it’s some irresponsibility, losing jobs, inflation. Just a perfect storm of ingredients for these repos.

[@AvengerAngel]

The banks and finance institutions will (try) and do what they always did; bundle bad/defaulted loans with those in good standing, profit as little as a calculated 2% assessed risk on the interest of the bundle, then claim a corporate tax loss; selling the bundle to the next financial institution and this process will repeat with each financial institution bleeding the stone dry. However, with the record defaults, this is becoming a monumental, risky task. Banks are now paying for their greed from a time when stimulus checks became the holy grail of the auto retail industry. Shame on buyers who let impulse take the reins.

[@pmscalisi]

Society in general is powered by impulse.

[@fredou90]

You doing great video I like when you don’t only talk about cars. I can see you from Edmonton. I live here since 2007 . It’s still a better place to live compared to Quebec.

[@markholubetz]

Nice, welcome to the channel and I appreciate your support

[@mikescaffo4850]

Everything you said is spot on

[@JCreole]

This video explains everything…Good job 👍

[@markholubetz]

Glad it was helpful!

[@jbarkley4938653]

I was getting my 2020 Toyota Camry serviced and oh my goodness people was buying these overpriced cars and trucks and they will smile at me as they was signing on the dotted line. I wanted to cry. 😢

[@markholubetz]

It’s truly baffling. Toyota is lifting prices now too.

[@deanblanton-fh3gq]

For what ever it’s worth, I’ve been looking a used late model 3/4 ton pickups after a brief review and from hearing all this B.S. that’s put out on the internet regarding “prices are falling”!, I was looking at the big three manufacturers regarding the used late models. The shock is these dealers are delusional at best. I spotted a 2019 Ford F250 diesel, top model with approximately 78,000 miles priced this 5 year old truck at $68,999. Or $70,000easy. This truck still has 5 years of wear no matter how shiny it looked. 2019 this truck was not priced out that kind of money new. Truck after truck was insanely priced to the moon. These dealers are no better than Jessy James. At least he told ya he was a crook.

[@Blacklist91]

American Dream Baby Homeless.🤣😂😂

[@davidmackenzie5403]

Keeping my 10 year old pickup paid for for another ten years

[@markholubetz]

Same here, it’s cheap and works

[@jerrypolverino6025]

Insane prices for these vehicles. No thanks.

[@markholubetz]

Fair enough!

[@fattie2550]

All HD trucks special orders still no discounts. Im holding off still.

[@markholubetz]

Yes there are certainly different markets but deals are always better when the vehicle is on the lot building time there

[@fatheadpr]

The problem i have is ive been driving the same truck for 15 years, purchased new, i need a truck for work as an electrician carying pioe and tray spools of wire ect. I cant get into a new truck for less than 1000 a month that is around 25 % of my take home pay. 70000 5 years ago was a fairly well equiped truck now that is the price for the bare bones truck they advertise to get you in the door but has just sold 2 days ago everytime you ask about it so youll have to order next model year or buy a more expensive truck.

[@donniecothern9842]

Keep what you got make it work sooner than later new trk prices will go down .

[@richardmeyersmeyers8123]

I keep hearing about the truck apocalypse, especially with ram/jeep. Where i live in western pa. The dealer has about 25 ram 1500s. One is a 2024 the rest are 2025s. It doesn't look like their suffering to me

[@markholubetz]

Possibly a smaller lot?

[@justme-27]

I drive a 1985 toyota 4x4.

[@markholubetz]

Thats a keeper for sure

[@isaacchavez1425]

Fixing my old 92 tercel. 1500$ and she will run another 150k miles easily 😊

[@markholubetz]

Nice

[@stevelynch5843]

What government handout's is everyone talking about? this must be an American thing cause as Canadian I had Covid in January of 2020 was then diagnosed with Cancer in March of 2020 lost my job was forced to retire and I never got a thing, I'd like to meet one of these mysterious people that got these big payouts cause I've never meet one

[@donniecothern9842]

Me either and i live in florida !!!!

[@wisco53520]

After watching this video I want to go live off grid and also go look at a new Denali hd.

[@markholubetz]

Nice. Thanks for watching

[@henryfutch5890]

Just wait till the EV needs batteries they'll be more repos than the gas and diesel jobs.

[@markholubetz]

You are very right

[@jockguy24]

There was NOTHING available here in Canada during the pandemic. The government only asked money back from people who took it wrongly to begin with. I ordered a 2022 WRX base trim model and after 9 months of waiting they delivered a top trim WRX (MT). So a $34000 wrx cost me $51000 with tax. It was buy that or wait for a Toyota rav4 to get built in maybe 9 months or buy a used 5 year old Civic with 150K on it for almost as much a a new one. Could have kept putting parts on my 13 year old Lancer at the time. LACK OF GOVERNMENT CONTROL OVER CORPORATE CRIMINALS AND THEIR POLITICAL PUPPETS IS WHAT GOT US HERE.

[@Outsider.Reviews]

Do you have the stats for Canada?

[@markholubetz]

Yes

[@KA9DSL]

Are the repos spikes in Canada or the USA? Please be specific

[@markholubetz]

Both

[@KA9DSL]

@@markholubetz Mystery solved, thank you.

[@bernie6355]

I don't get it. Went to a Chev dealership here in southern Ontario to get a price on a Trax and they will not budge off MRSP on a 24 even though 25s were in stock.

[@standardarm63]

The sun will be breaking window regulator cables.

[@markholubetz]

Haha

[@joshuakarp2586]

Random question. 2023 BMW X7 M60i. That’s the BAD engine, right?

[@Technocrat.]

My coworker just broke down up north in his Equinox, 2024, new, battery died after he stopped and tried to start the engine. He just drove hours to get there. Lol. Trash heaps. Offer dealer $10k and go up my 1 dollar increments

[@sunking2001]

Here is my summary to what I think is going on with the world's economy: The price of going up is going down and the price pf going down is going up. The deeper you go, the higher you fly The higher you fly, the deeper you go. Your inside is out when your outside is in Your outside is in when your inside is out. Does anyone agree?

[@mikejohnston5159]

Let’s be clear about something, that truck did not cost 200 K to build from the manufacturer

[@markholubetz]

I agree but the retailer will charge a lot more

[@mikejohnston5159]

@@markholubetz you’re absolutely right! Actual vehicle production costs are nowhere near what they are being sold for with the combination of astronomical MSRPs coupled with massive dealership markups on hot items. The first company to produce a basic small truck for under 30k will sell so many that keeping up with production demands would be an issue.

[@pl747]

I never seen or got any free money.

[@markholubetz]

Nice

[@tismin2001]

Sherwood Dodge! lol good old albertan boy

[@markholubetz]

Cheers. Have a wonderful week

[@stevehenderson2571]

High end GMC truck plus 189k IKon bass boat … YGBSM.

[@caltiki3090]

Zambellis for prime rib………..I’m buying !! Thnx ECB !!🥩

[@markholubetz]

Haha yes some real tasty eats

[@MrTigerStarX]

Any truck priced at +70k is far too expensive.

[@neowuwei7851]

Where are these repoed cars being sold?

[@kennygiang7282]

please punish people for sleeping outside so we can get fed in jail

[@crlaw75]

They did this to themselves.

[@markholubetz]

Entirely. Just have to buy responsibly

[@LG-th8xt]

I suggest they round the price to 1 million dollars for each vehicle and there will be less CO2 pollution

[@Bill-sp8kb]

CO2 pollution. Now that's quite the oxymoron. I'm not buying any of that,hair on fire, bullsh*t.

[@realdealio1]

But Biden said everything is great

[@markholubetz]

He may have something else to say soon

[@dog_guy-c8x]

Just wondering what money your talking about? My wife and I are retired we got a top up of about 500 bucks . Thats not even one car payment so what money are you talking about??

[@cccp2007]

Who can buy a truck for seventy thousand?

[@jazzman7167]

You need to tell people you live in Canada!

[@markholubetz]

I often do and really the problem still exists on both sides of the border.

[@greathey1234]

The Canadian flag is flying high throughout the video

[@jeffreycheng5984]

"Politics is now and always has been just the clever and deceptive art of using euphemisms, lies, emotionalism, and fear-mongering in order to dupe average people like you and me into accepting and demanding the chains of our own enslavement."- Larken Rose. The Dangerous Superstition.

[@philliphall5198]

Just don’t buy anything period 😮

[@chuckchambers9565]

It's 5%

[@Joey-fs7ro]

Lose your wife? Hmmm oh well. Lose your truck? Awe shit, that ain't right. 😏

[@markholubetz]

Haha

[@RAM-KINGOFTRUCKS]

All do with inflation and interest rates ..Period

[@markholubetz]

Thanks for sharing

[@jaym4052]

People were complete idiots that they thought they could afford 850-1800 dollar payments. Yeah inflation sucks but it doesn’t take a genius to understand that unless you’re living well below your means and making some kind of 6 figure post tax income that payments like that are not sustainable even without current levels of inflation. People brought it on themselves agreeing to pay for these cars even after the massive increases of msrp plus massive mark ups for more in demand vehicles. They were also idiots for signing 84 and in some cases 96 month loans, then trying to trade out of them with massive neg equity. PEOPLE, do not listen to dealers and banks, just because you get approved does not mean you can afford it. A sorry but if you buy a new car a you don’t call your insurance for a quote ahead of time then that’s on the person singing for the car.

[@deecee3900]

Nothing Dodge Chrysler Mopar is pure garbage those none of those vehicles are worth n0 more than $10,000- $15,000-

[@Dewayneg-p1o]

Weaponize is number one

[@greathey1234]

Banks benfit either way. Don't live beyond your means sheeples

[@squidnerful]

Live within your means or move down or get out of their system. Basics. Food water shelter. Get a large solar generator freeze dried food get a relationship with Jesus.

[@markholubetz]

Always live within means. Many people can afford these vehicles but also many cannot. Just gotta fit the budget

[@bobbyquack4908]

Buy older , Buy private. Learn how to work on it. The new electronic Junk is exactly that. Junk.

[@mikelight495]

then there are 7 year loans.

[@termometer3]

Crazy is hoe people can get sutch cars easy , but i must say banks doing bad job. They need to be real whith people and say they cant buy it . Maby buying is not that big problem but to mentain and pay all costs of a car is something people dot look at . i can buy a car for 20.000 , but if i must pay every 4 weeks 5.000 for a car no way in hell i ever gonna pay it. We have same problems in EU small and cheap cars are almost impossible to get , allot of brands dont make it anymore as much and the new they bring cost more than a big one . I talked to some people who sell cars and they all say because of high cost in partol and all co2 stuff and weight for your car they make less small cars but now making electric or hybrid . but those cars are big , heavy and very expensive. So yeah shit getting expensive and i dont know how long electric cars last, but i know i had a toyota 22 years old 300.000 km and still work.

[@islandaerial3414]

Ironically we are all creditors NOT debtors. You just don't know it

[@markholubetz]

Fair comment

[@jasonbaxter5502]

Do KZbin channels just have 3 topics. 😅😅

[@markholubetz]

Not this one

[@705squad]

Ummmmmm I don't think that tan old school cavalier is a repo ! Lmao 😅🤦‍♂️ some of the stuff this guy says doesn't add up !

[@markholubetz]

There are many of those low cost corner lots selling older cars to high risk, sub prime buyers at high interest rates

[@kirkmanning6232]

We have Bidenomics to thank for a lot of this mess!

[@markholubetz]

Well it looks like the may be coming to an end

[@JCreole]

Shows how smart you are…Explain how any president is responsible for someone purchasing a vehicle they can’t afford…🤔

[@kirkmanning6232]

@@JCreole I’m a banker!

[@jonstone9972]

Make sure to also thank a Democrat and liberal for this feelings first common sense last

[@jbarkley4938653]

@@markholubetzbe careful what you say 😉

[@weshenry9592]

Dude settle down relax just talk normal.

[@larryzan8942]

Dang what happened to u u have aged like 20 years in just a few weeks or did u loose weight

[@markholubetz]

That’s a long story….

[@Esperia-ef9xh]

WHO CARES 😂😂😂😂

[@markholubetz]

Well…..

[@peterkennedy5596]

Funny. I love seeing the banks the dealerships and the stupid people lose there money. I’ll just sit and wait till they are begging people to buy 50 to 60% off just to save them. lol.

[@donniecothern9842]

And it will happen and it won't take much longer !!!

[@paulkieffer1189]

Buy bitcoin it’s the only way out.

[@markholubetz]

That can help but a very volatile situation and certainly more risk

[@Tony-eq2mk]

I would rather be broke and homeless then to keep working and paying taxes for the corrupt government