IT'S BEGUN! THIS Will DESTROY Our ECONOMY

IT'S BEGUN! THIS Will DESTROY Our ECONOMY
Follow me on X: / cqa_brandon
In this video we talk about the auto loan and delinquency crisis happening.
My name is Brandon and I am a used car dealer. I created Car Questions Answered to share the ins and outs of the used car market from my perspective. I share with you updates on car prices, what's happening at the dealer auctions, and what it's like being a dealer. My goal is to share information to help you make the best decisions while buying a car to save you money. I do not want car dealers taking advantage of you.
Thanks for watching and please feel free to leave any comments you may have in the section below!
And make sure you don't forget to LIKE, SHARE AND SUBSCRIBE FOR MORE!!
*None of this is meant to be construed as financial advice, it's for entertainment purposes only.
#UsedCarMarket #CarPrices #carmarket #usedcarprices

[@dave3657]

It used to be when you spent six figures on a vehicle, you were buying Ferrari, Porsche, Rolls Royce. 😎 Now it’s a Ford Pickup truck. 👷🏻‍♂️😂

[@fredgilbert2032]

🤣🤣🤣

[@BradKwfc]

Also funny that the more you spend the more maintenance and fuel costs😅

[@steveclavette9235]

Everyone can complain about inflation all you want, Car makers got greedy, inflated they're prices and created the bubble which is what happened. Cars and trucks unlike property depreciate. This bubble will not tank the economy, it will just hurt the idiots who helped create it. How long before the big 3 appear in front of congress begging for help???

[@user-zs7no2qt3d]

LITERALLY

[@guysumpthin2974]

He’s right about car dealerships are at fault . “Upside down” the day of purchase, and it just gets worse until the last payment, yet in between it needs : brakes , tires , emissions controls , water pump , coil pack , tie-rod , timing belt , head-gaskets ,,,, if you pay on it for 2 yrs and bring it back to the same dealer “you’re upside down” , then the price was corrupt from the beginning

[@user-sq6nu3rv1m]

Sounds like the F-Around phase is wrapping up and the Find Out phase is beginning.

[@CCFBGGarage]

100%

[@luizquiz1]

but we are the ones getting f also.

[@Ricecooka]

The Ford F-Around And Find Out Series

[@jeffferguson69]

Couldn’t have said it better lol

[@sw6155]

@@luizquiz1by the Grace of God, not me broh… I’ve been living lean and mean… Hopefully I’m out far enough to ride this economic tsunami safely…

[@anthonydent616]

Let the cars sit there, fix your old ones!

[@orangepeel1366]

Agree ... no one should always feel the need to buy a new car and be extorted for their money ..

[@goodtimejohnny8972]

I was quoted 3100 for a transmission for my 13 yr old car with 140000 miles on it. That's for a used 90000 mi transmission installed. I don't think that fixing my car makes any sense.

[@fiestacassarole]

Unfortunately many of us are at the point where our cars are beyond fixing now. 375k miles on a 2006 Mazda 3. Rust from the north east has takin its toll on everything and the engine burns oil like a 2 stroke. The new car market is way too expensive and the used car market is filled with flippers.

[@orangepeel1366]

@@goodtimejohnny8972 so you prefer to spend $50k on a new car then $3,100 on a tranny with only 90 thousand miles which isnt a lot by the way hey, it's your money do as you please

[@user-cn6re9jr1t]

Keep your old car, don't buy very often, no debt no problem

[@FamilyofFour30]

Bottom line, it’s a good time to be in the car parts and repair business

[@edg8535]

Yes it is. I have wanted to replace our older vehicle for three years. However, I will not pay the price the dealers want for a new vehicle. I will gladly pay a mechanic, (not dealer mechanic) to maintain the older one.

[@seth101-hv4st]

It would be a great time to be a mechanic. They charge obscene prices anymore.

[@cdwilliams1]

@@edg8535 I'm in the same boat. My paid off Civic just keeps chugging along though. 245k and counting. Would love to get into a lease return civic with low miles and a couple years old - but prices are still too high.

[@biggeee318]

Exactly!!

[@hdhd7402]

@@cdwilliams1yep I rebuilt my 2009 Civic Si, 1998 Expedition and currently on my 2005 Excursion 6.0 I refuse to give in!

[@trolllibtards2604]

The auto manufacture, who goes back to building, bare bone vehicles with just the basics will be the number one car manufacturer in America.

[@genericsomething]

The Ford Maverick would be a hot selling vehicle, if they made more of them. Instead, Ford wants you to pick out an F150 off the lot.

[@fredgilbert2032]

Yup a reliable decent family vehicle priced under 30k (or better 25k) that is readily available (looking at you Trax) would move a ton of metal. It's a shame Toyota and Honda have forgotten what got them intrenched in the US market.

[@timkis64]

automakers are too stupid to take advantage of the fact.

[@Eddybo22]

Greedy is the word . ​@@timkis64

[@Runco990]

They CAN'T! Government regulations don't allow it... for "Safety".

[@KA-sx3sc]

This is why I intentionally live below my means. when you grow up poor you are acutely aware of the reality that the party can end at any time and with no warning.

[@covercalls88]

Yep, it's important to not using your credit cards to live on and not paying it up in full each month.

[@debbrenneman3407]

Right there with you

[@tmo4330]

I have lived below my means for a long time. No payments on anything. It hurts my feelings to know the savings I have is being devaluated by inflation. (Inflation is higher than the interest I make.)

[@strykerland]

facts. Been turning my own wrenches since 15. Being poor sucks when you are in it but it builds CHARACTER

[@Savvynomad225]

You know the market is struggling when you drive by your local Toyota dealer and the lot is overfilled

[@user-jn9gv9ve6e]

not in kalamazoo or battle creek. they only have a few cars, very few.

[@Savvynomad225]

@@user-jn9gv9ve6e they must still be selling cars

[@SifuZeemore]

Same here in Milwaukee, WI. I drove by the dealer by my house and their lot is pretty dry.

[@rachelgreen1368]

​@@user-jn9gv9ve6eOklahoma City and Tulsa Toyota and Honda lots are full , no buyers.

[@USA__WILL]

They are pretty full here in Phoenix Arizona

[@me2big]

When you work for the US Postal Service (USPS), either as a Civil Servant or as a Private (no-benefit) Contractor, you sign a privacy agreement ... so I can't say much ... however, there are a lot more skinny "Red Letters" from Credit Card Companies and 30-60 day late-payment warnings from Mortgage-holders today ...

[@EmilyAllan]

This is really valuable information. Thank you for sharing.

[@fortheloveofnoise9298]

All I ever saw was tons and tons and tons and tons and tons and tons of packages....so I quick.....I could just go work for UPS at that point and get paid double or more.

[@birdy1953]

Plausible deniability, let it rip man

[@ColeDedhand]

I have a 2.25% mortgage and no car payments. I can't even imagine if I had a 7% mortgage and $2000 in car payments.

[@seth101-hv4st]

Don't sell that house. You might never see 2.25% in your life time.

[@sprague49]

I have no car payments and a paid off mortgage. I win! LOL!

[@vintagetimmy1893]

Treat yourself, live on the wild side because you deserve that nice $2000 car payment!

[@unfairsanic5089]

@@sprague49same i got no car payments and a house inherited to me so double win 🥇

[@user-jn9gv9ve6e]

pay cash for everything. even your house if you can.

[@aradoran]

I just had to get my 2005 repaired for $330. Heck of a lot cheaper than a car payment or a $80k loan on a truck. Full transparency though, keeping older vehicles running means we keep an extra vehicle in our household, so there are additional maintenance, insurance, tag costs. Still cheaper than buying new in the post-2020 carpocalypse.

[@specag31]

You can rent a subcompact for under $300 a week if you shop around. Cheaper when done as needed compared to keeping a second car.

[@00taohio85]

The older the car the lower the insurance is. Got a 2015 Silverado and a 2000 Trans am $700/year full coverage both cars.

[@motorcitymadman146]

Yep i have a 2017 F150 I baby and a 2010 Malibu I use as a freeway hauler to work

[@vampirejesus8170]

I paid 2500 to get my transmission rebuilt on a 2003 Silverado 2 years ago. Still cheaper than a truck payment. 230,000 miles and she is still running damn good. Had the truck since 2004 and I think I might have spent about 4k in repairs over the last 20 years. Not including tires. I hope to get another 200,000 miles out of the truck. I have to start driving it more or it is going to rot in the driveway.

[@melissasmess2773]

I rotate my vehicles, have 3 that run but only insure one at a time, I am single.

[@mareble412]

Once again, banks made irresponsible decisions and we are all feeling the pinch. I wish our government will allow these banks to fail. They never learn!

[@drayvinemancha3556]

The banks make the politicians, which makes the rich richer. Capitalization isn't sympathetic to the misfortunate.

[@vollkerball1]

No, dumb people made irresponsible decisions fueled by greed.

[@joewontwice]

They're all friends

[@maggiesmom2007]

The Dumb a$$ who was selected for the President caused this. Where were you when Obama did the same?

[@ajbaums5687]

Why is it the banks fault?

[@robsdeviceunknown]

For those that are sadly getting behind on your payments; I can not stress this enough. TALK with your LENDER. I promise you they WILL work with you. They absolutely do NOT want to repo that car. They will give you extensions, lower payments etc anything to keep you in that car. But you HAVE to take the initiative to work with them. This goes for Homes and Cars both.

[@stevecorey5035]

It's ALL A PLAN! Socialism!!

[@rjchiedog]

or stop buying shit youcant afford

[@jazziered142]

Oh no, if you're on the end of your home mortgage payment, they want your house. They've made all that money off you, and now they want your house. They can make more money.

[@user-jn9gv9ve6e]

doesn't work with homes where i live. a house put up for sale on monday will be sold by friday.

[@Runco990]

Not ever. Many years ago I was in that situation, they would not budge, not one cent. NONE of them would compromise. Why should they now?

[@patrickmichael8655]

50 grand for a truck that’s crazy

[@cockaroach5686]

I love this country fried rube!

[@anotheruser5654]

@@cockaroach5686 I bet you do comrade.

[@FrankyRedEyes]

No matter how many times you say it, it's true.

[@seth101-hv4st]

Unfortunately, any more that's cheap.

[@andyp91]

my cousin just bought a new '23 Dodge Laramie, loaded crew cab for 59 k (msrp 74s) and is very happy. Now if you can only get a stripped down pickup for 50k THAT would be crazy.

[@johnsmith-ym3kx]

Went to a couple dealerships this weekend here in Washington state and they are all overflowing!! But.... The dealers in this state think every car is gold and the prices are still outrageous, plus they are still charging dealer markups in most of the cars!!! Plus.... I was the only person there looking at cars and I was swarmed by salesman. I called them out on their ridiculous prices. I'm so happy to see most of these dealerships starting to go out of business.

[@Jediwarrior1980]

Where about in WA State? I'm down in Vancouver, WA and I can tell you right now that it's the same situation here. My local Chrysler dodge dealer still has a 10k markup on the #1 lemon car in the nation (Grand Wagoneer). I counted over 30 of them collecting dust on the lot. Also the sad part is that it was a sunny day and a holiday (president's day) Usually people buy cars when it's sunny out, but I was the only one on the whole lot. Ram dealership across the road is even worse. In the past I bought four vehicles from them, and today one of the sales managers that I had a business relationship with told me that in his 20 years in the business he never experienced this. According to him, "They let go of close to 70% of their foot soldiers" and the only thing that's keeping the dealer aflot is the repair/maintenance shop. With all of this going on they still had a 10k markup on that POS of a vehicle. Crazy times!

[@wirebrush]

Yeah, I've been shopping for a new (used) commuter car and I'm seeing dealers actually raising prices on unsold cars! They're delusional

[@FoundLamb]

You are 💯 accurate and the real estate market is the same. So I say: f a a f o. Gunna be a lot of folks impacted by no housing sales and the NAR ruling. Add the auto market. The student loan payments kick in..Add the lay offs add the inflation yet lack of wage growth and massive commercial real estate on life support now.. 😂 fjb and fuck kingslee. But what do I know.. keep the borders open and print $. 2025 will be interesting

[@bpb5541]

Don't worry those cats are so stubborn and greedy they would rather go out of buisness than cut prices. So let them go bankrupt.

[@BTC909]

As long as service can cover the day to day running of the business and the floorplan costs many dealers just don't care. Sit back & wait for the manufacture to offer incentives or buy down interest rates. ADM's we can take them off only if you pressure us.

[@geraldbutler4990]

The greedy dealerships, businesses and politicians caused this to happen. As soon as we got our first stimulus check all businesses raised their prices and destroyed what the stimulus was supposed to help with. It is their own fault and stupidity by big business. Greed destroys!!!

[@ruthlessreid9172]

Inflation not greed.

[@kirsatta]

@@ruthlessreid9172it’s the same thing. Prices went up and wages didn’t.

[@carlfromtheoc1788]

Some of us did NOT get any sort of stimulus check.

[@jda72]

90% of all these problems are the result of bad goverment policy when you drop free money out the helicopter most people will blow it on crap they don't need , before you know it demand is artificially increased and supply can't keep up which causes inflation. They were warned this could happen but the idiots at the fed and the Biden admin kept saying no don't worry this is temporary and prices will come back down well thay have'nt and of course interest rates have doubled . So here we are now with a severely devalued dollar and high interest rates I remember the Jimmy Carter years and this is looking a lot like that. Hang on it may get worse.

[@ordinaryhuman5645]

It's not their fault that the ratio of dollars to everything else grew lopsided. The greed is mostly from voters demanding more and more free stuff without paying for it via taxation, so the money printer has to pump out trillions of dollars instead.

[@nunya1667]

I recently just finished paying off my truck. Got three emails. First from finance company congratulating me on paying off my note. Second from my credit monitoring system notifying me that I had a account closed. Third from same credit monitoring system notifying me my credit score dropped. WTF! My credit actually took a hit by paying off a loan. BS!!!

[@geaugettdinearo2886]

Same here. It'll bounce back plus some in a few weeks

[@starfalcon2]

Same here, I don't care. Just maintain your score.

[@melissasmess2773]

Congratulations, don’t ever borrow money to buy another vehicle. They aren’t investments, they are depreciating assets!

[@ElonaldTrusk]

By the time you need to run your credit again it will properly reflect your activity.

[@XanVicious]

I paid off a credit card in full at the end of the month and my score took a 70 point hit. I’ve never paid in full since.

[@firemedic2442]

If the prices would have stayed pre-Covid era and not gone up things would be fine. Corporate greed has to be blamed for 90% of the problems. They are no longer happy with 1-3% profits a year. They want 8-10%. Greed is killer

[@ajbaums5687]

Did the corporation force consumers to pay over MSRP? Consumers did it by their free will. Simple supply and demand. It’s simple economics

[@firemedic2442]

@@ajbaums5687 Monopoly is not supply and demand. It is rigged and you know it

[@user-jn9gv9ve6e]

their profits are more than 8-10 percent. msrp means nothing.

[@michaelreichert8078]

You mean pre Joe Biden era

[@nealwhite5602]

inflation is caused by one thing - the government printing of money , when the government prints more and more money , your money is worth less and less so it's not so much that prices are going up it's more that your money has no value so you have to use more of it to get the same thing , expect inflation to continue

[@leeshepherd8486]

I own a 2016 honda odessy,a 2012 tundra,a 2007 Saturn ion and a 2009 honda civic. All paid for. No car payments. Im 45 years old and have absolutely no interest in going into 50,000 debt for a vehicle.

[@stealthswim223]

2015 Chevy sonic and a 2012 Honda odyssey. Not looking to buy a car for a looooonnnngg time.

[@portagepete1]

2013 Chevy volt good for over one million miles.

[@fredwilliams7893]

That 2012 tundra will litterly out live you! I own a 13. 500k mile trucks with ease!

[@fattymcfattzz]

2007 vibe, proper vehicle maintenance

[@daizydixon4069]

I'd sell my liver before I missed a mortgage payment. My mortgage is 1200 a month. To rent a 2 bedroom apartment in my area is $1800 a month.. $600 more, for less than half of what I've got.

[@sheekie127]

2 br for $1800? Wow I wish. My 1 br apartment is $2100 a month 😂😭

[@mattstarr2674]

1200$ a month gets you a trailer near me if your lucky not including utilities

[@Pallasathena-hv4kp]

I’d list part of mine. Livers can actually grow back. An endless resource! Oh, sell plasma, and be a surrogate or be a wetnurse ( if I weren’t in menopause lol)

[@hushmoney2058]

Bless Bidens Hart ...

[@BescoShorts]

@@sheekie127 mines is 947 .. good area but I live in Baltimore the chances of you getting in some bs or shot at is x10

[@JimAllen-Persona]

I did both of my daughter’s taxes this weekend. If they weren’t both students and didn’t take out extra withholding, they would’ve owed. If dealers are expecting big refunds… they’re not going to be there.

[@mattstarr2674]

Yepp my girl owes over a thousand dollars to these vampires

[@grumpyoldman64]

Found in 85 Ford F-250 with a straight 6 in it... rebuilt a motor, all the electronics, brakes. I got to put sheet metal on, rockers and floor pans when I'll be done with it it'll be less than $5,000... (I'm doing 90% of the work) i will take that 85 truck with a straight 6 in it and put it up against any new truck built ! 20 years from now I'll still be driving it and those trucks will be in the junkyard...

[@guyletourneau6167]

My 84’ f250 with the 460 can’t even come close to the new trucks. Though it almost never needs repair and when it does it’s ridiculous cheap.

[@blaakrose]

When Lucky Lopez began the video, I first thought did I click on Lucky's video instead of yours. Then magically you appear.

[@carquestionsanswered]

Hahaha

[@mitzijava]

Love Lucky

[@jmmywyf4lyf]

These prices need to be cut in HALF, at the very least! I am in desperate need of a truck.. but I will never spend over $40k for a truck! Ill keep my cars as is

[@commiehunter733]

Same... I'll never spend over 40k for a truck

[@mysteriousoklahoma777]

High groceries, high taxes, high auto insurance, high home insurance…everyone is in the grift right now. Smfh

[@mr.independent3501]

We have to point the finger at the banks for providing loans for cars wayyy over its value due to greedy car dealers markups.

[@orangepeel1366]

blame the dealer and the foolish consumer who signs on the dotted line knowing they can not afford the payment to begin with . someone tells you your payment will be $600-850 plus a month and you as a consumer sign it then you are the true sucker and part of the problem.

[@mikebell0315]

Too easy extending of credit card limits too.

[@joewoodchuck3824]

They'll deny it till the end.

[@jamesrecknor6752]

I just blame Trump for all my mistakes

[@mr.independent3501]

@@jamesrecknor6752 you mean Joe

[@nickadamson6053]

A RAM dealer local to me has 2 things going on that makes me chortle: 1. they have a crap-ton of TRXs sitting on the lot collecting dust. 2. They are offering $18k off MSRP on all 3/4 and 1 ton trucks!

[@melissasmess2773]

I’m still driving a once totaled 2001 Outback with 167,000 miles that I paid $1,500 for in 2008! I’m a mechanic and know the joy of cheap transportation and zero debts since 2014.

[@roadmap999]

I just came from the Toronto Auto Show and they're showcasing trucks for 150K+ with all the shiny toys on top. Makes no sense at all. Who the hell is buying these trucks??

[@cub1009]

Im just going to keep driving my 06 Silverado. New cars are over priced. Even a used truck is still expensive. I've owned my truck since 30k miles and taken care of it. Nearing 200k and haven't had any major problems

[@user-jn9gv9ve6e]

your lucky. i had a 2010 silverado. there are problems with the 5.3 engine.

[@kenik2023]

​@user-jn9gv9ve6e Nah fam, you either got a friday afternoon deal or someone never oiled it. The 5.3 is solid.

[@user-jn9gv9ve6e]

well the people who had a class action lawsuit with gm about it don't think so. it has something to do with the engine shifts down to 4 cyl then back up to 8. your year might not have that. there are youtube videos on the problem. to fix it cost at least 4000 dollars.@@kenik2023

[@GarageSpaceship]

​@@kenik2023 Nahh AFM came out on the trucks in 07... way more reliability issues after that

[@USA__WILL]

I'm sure we've all had fuel pump issues with these GMs

[@jamesbowman7963]

The used car lots in central Indiana are absolutely loaded with cars whereas two years ago they were empty.... Car prices after the tax return run happens will be dropping massively in my opinion. We are headed for a recession big time and when the S&P figures it out kablam.... I'm not an economist I have just seen it before. Lots of canaries dropping right now.

[@onefixitman]

Dealers are trying to wait until after tax season but many people are not spend tax money of big ticket items. They are repairing the vehicles with that money. Good video. Always great to hear from you.

[@robertkreamer7522]

Just a short lesson in Currency inflation is not prices going up what it really is is the value of your money is going down your money buys less price increases are reflection of the loss of value of your money. The dollar is being destroyed and it’s being destroyed on purpose.

[@johnracki2258]

Thats the truth!

[@jonmueller2117]

You are correct.

[@interestedparty497]

No, the dollar is not being destroyed on purpose. Inflation in the US is less than the vast majority of the western world because of our monetary policy. News flash: a global pandemic is going to have worldwide negative financial consequences and the US is doing better than almost all of them.

[@neooverby3750]

In my house we have zero credit card debt and zero car debt only loans we have is our trailer and house. And we are going to keep it that way. I’m not going to get trapped in loans

[@donwise8767]

You are very smart. The only debt my wonderful wife and I have is our mortgage, th d only good debt as far as we are concerned. We do use credit cards for most purchases so that we can get cash back. But, we pay them off EVERY WEEK. And, we have three vehicles, all of which we have over-maintained. No car payments. And NO CHILDREN!

[@Network126]

I've been homeless since the pandemic, and just bought an old Toyota Sienna van to live in, since everything is just so unstable and unaffordable.

[@brianasbury8315]

Smart, very smart. Hat's off to you.

[@timkis64]

the more the system crashes, the better deals are available for those who hold off unneeded spending.

[@neilbruce123]

People need to live with their means.PERIOD.

[@ZIGZAGBureauofInvestigation]

Glad I Own my Machines 🛻🚙🚗

[@Steve.Cutler]

Im so glad my car and house are paid off. Nothing fancy, but I find no payments, perfectly adequate. Ive seen some used car prices that were 5-7 thousand 3 or 4 years ago, are now 10-12 grand!

[@tradermunky1998]

We had a monumental boom. And every monumental boom is followed by a monumental bust. Every. Single. Time.

[@BradKwfc]

Just buy crypto. Everyone in that space is convinced they're going to get rich without having to give anything back😅

[@Eyes0penNoFear]

House prices tripled in the 1970's without a massive bust at the end. I'm hoping for some kind of correction, but I'm not convinced there will be an epic crash.

[@davidshettlesworth1442]

Thanks for a great video! Time to pay the piper! Car dealers take heed! We are Not paying the 50% increase in price of a vehicle 👍.

[@ScottishTerrorsInLA]

The only reason the vast majority of people stopped doing that is because they literally can’t.

[@gorjess4real]

Crazy...Im still driving my 2003 Honda Accord but that's probably why my house is paid off

[@hushmoney2058]

I Like your Style ...

[@delphi-moochymaker62]

I have been a car guy my entire life. I sold my sportscar during the pandemic and have learned to live without one. Now it just seems like crazy overhead in uncertain times. I like my bicycle.

[@vintagetimmy1893]

Same, I sold my 2020 Toyota Supra 3.0 for more than I paid lol and I'm I'm riding a Cycleboard SCR-1200 e-bike which cost me a one time payment of $2,400. I live in NYC and couldn't be happier!

[@Network126]

I've been homeless since the pandemic, and just bought an old Toyota Sienna van to live in, since everything is just so unstable and unaffordable...

[@evilroman1sobieski756]

A bicycle is not going to get one laid as often as a sports car if at all.

[@delphi-moochymaker62]

@@evilroman1sobieski756 Perhaps. However I used to be obese and now am in great shape. If you had to chose only 1, a fit strong body, or a sports car while being obese. Which do you think the ladies would respond better to? 😏

[@gringott12]

@@vintagetimmy1893 Weird. "I live in NYC and couldn't be happier" Seems like a massive contradiction.

[@kangarooacid]

I work at a cox automotive auto auction in Ohio. I like watching your videos. I see the craziness every day!

[@bradleypollack5658]

The problem is the vehicles were way too expensive and the creditors financed these extremely overpriced cars that weren’t worth what they were.

[@stoveguy2133]

Zero credit cards. Zero home equity. My mortgage is 83% paid off.

[@jacquesc3166]

Someone doesn't understand what home equity actually means... and that someone actually has lots of it 🤣

[@melissasmess2773]

Zero finance knowledge 😂

[@user-vi8ry9hq8j]

When i was shopping for a vehicle, and looked at prices, i decided it was better to replace my 99 ford ranger 1 part at a time than buy a newer one. I don't even like the new vehicles. I'm kinda wishing they would bring back the pinto. Cheap, easy to work on, good milage.

[@michaelsnively3621]

Forget the pinto. We are going full circle back to little house on the prairie....

[@gringott12]

@@michaelsnively3621 Model T with wood spoke wheels is going to look good soon.

[@maverick-zj3jz]

I lived in Vegas in 2008 there were empty homes everywhere million dollar homes were penny's on a dollar.

[@bruceblunderfield5431]

There was just one line that rang alarm bells for me in particular being a VERY PROACTIVE LISTENER! If anyone remembers the Movie, " THE BIG SHORT ", you will understand that house loans, car loans etc, are sold in Traunches. Even if the subprime traunches hit 8 % , the cascade effect would set in taking down the whole tower? Still with me? At the moment, according to the figures mentioned here, the default rate is currently 7.91% on sub-prime lending. To me, that seems incredibly close to 8%! Hehehe, should get interesting soon!😊😊😊

[@OSKER-gb5ko]

People sign up for something they can’t afford and blame the bank for letting them.

[@nickl6641]

As much as I want a new(er) car, it's videos like these that make me happy I am not in a situation where I absolutely have to get something right now. But my nearly 20 year old vehicle is due to be replaced.

[@dantespeak138]

I just bought a brand new BMW for $89.99 at Shop Rite. It runs on a battery, the only bad thing is it's kind of small for an adult, and I have to fight off my 8 year old son to use it in the driveway.

[@John-gw4jt]

That's what we everyone should buy when they get an itch for a new vehicle.

[@chriskowalski9187]

what were your monthly payments if I may ask?

[@dantespeak138]

I don't know, the kid is paying for it.@@chriskowalski9187

[@ericwatts6291]

That's awesome. You'll save on gas as well.

[@sheldonduffy9442]

Wow, what an amazing amount of collaboration from some of my favorite KZbinrs who are trying to help consumers.

[@motorcitymadman146]

I keep telling dealers to leave me alone on a new vehicle. I keep offering 2- 3 grand lower the what dealers on asking on used cars. I tell them with 14% interest rates on used cars and full coverage insurance on a vehicle that is at the point parts are going to start breaking, something has to give. It gonna be the price I pay for a used car. they ask 13000 I offer 10 they ask 12599 I offer 10. Ill keep looking for private sellers who need money now.

[@rtz549]

Low cost new vehicles would be a game changer. Just decontent the vehicles. They don't have to be trimmed out to the moon. Make all new cars under $20k.

[@pantsonfirew]

I doubt the repos were not maintained at all. Keep holding out guys

[@bradleytarr7702]

You see them at all stages, from less than a year old and completely trashed to ten year old, super clean and up to date on oil changes.

[@TheLizardKing1967]

"Just imagine if everyone owned a 94 Celica with NO Stupid Car payment. What a Beautiful World it would be." Scotty Kilmer

[@jerrylundegaard2592]

Is it actually possible for a car payment to be Stupid? A person who takes a car loan might be considered stupid but can the car loan be stupid?

[@emmapeel4299]

These are my favorite types of vids. Clips and collaborations with different viewpoints 👌🏻♥️

[@carquestionsanswered]

Glad you enjoyed!

[@keithdaniels5918]

@@carquestionsanswered. It was a good segment.

[@User-cc6cq]

Repo shortage? Job must not be worth the risk...

[@melissasmess2773]

Not on Harley Davidson’s I heard. 😂

[@RCPropaganda]

Seems like we need to address the real problems. Sadly people will just keep bending over. I got two more payments left on my toyota and that makes me happy.

[@cactiguide]

I have $337/mo car payment over half paid. $314 of that goes to principle. I considered just paying it off early, but every month $337 is worth less as the value of the dollar drops. Low interest debt is the only way you get ahead during inflation.

[@randyholly2594]

Great video Brandon. 3 of my favorite car channels all on one video! Good job.

[@jackblack3886]

Another excellent episode! Using folks from other channels is working great. This episode should be required viewing for anyone financing a big ticket item or house! Well done!!

[@johnwilson9666]

Just remember you can SLEEP in your CAR but you can't DRIVE your HOUSE

[@Network126]

I've been homeless since the pandemic, and slept like shit in my car for months. I never slept properly, and was going insane from sleep deprivation. I just bought an old Toyota Sienna van to live in.

[@harmhoeks5996]

I think having a proper sleep and safety is more important. Even if it's just a bed in some room. I don't recommend sleeping in the car.

[@bobbiebellinger8415]

Price gouging is the problem.

[@colin-nekritz]

Yep. For real estate and car dealers in collusion with big banks to maximize profits over being honest and good to people. Greedflation got us here.

[@stevemccooleq]

In a free market economy there is no such thing as price gouging. Things cost what the market says they should cost. If the cost is high that means there is a high demand for the product or a short supply or possibly both.

[@timf7679]

@@stevemccooleq There is no free market economy. Consolidation and monopolization has led to less competition to drive down prices. When markets are condensed into fewer and bigger corporations, there is no chance for new competition to develop, and they can just leave prices high. Hence why profit margins are the largest they've ever been, while at the same time these big corps cry inflation and increased wages are the reason for high prices. Its price gouging and the covid epidemic gave them the best smokescreen they could have hoped for. Now they spend billions lobbying (bribing) so they can keep their monopolistic policies going strong.

[@hushmoney2058]

Not With Trump think about it ....

[@thetapheonix]

It’s inflation that is causing this. Cars, homes, food, just about everything is over priced. Wages have never really kept up with inflation and just flipping things for double what you pay is unsustainable.

[@marioxmariox]

Inflation caused by massive government spending by Biden. By Biden's open border policy, and money handouts like there is no tomorrow.

[@darwinchapmam6343]

Corporate Greed

[@anotheruser5654]

@@darwinchapmam6343 nope it's inflation. Thank the Federal Reserve and your Dems and RINOs.

[@wb1340]

@@anotheruser5654 The UAW played/plays a huge part in this.

[@anotheruser5654]

@@wb1340 I don't disagree with you on that point.

[@ObiWanShinobi67]

During inflation companies raised prices on everything to keep their profits nice. Inflation is back to normal, but high prices are still here. They know we'll get used to paying it. They do it every time. Pure greed.

[@CCFBGGarage]

Hey Brandon, great video, honestly I am surprised that with all those loans out there where people payed thousands of dollars over msrp that the average PoL upside down is only 6% i would expect that number to be higher - Mark

[@thehimself4056]

I just ordered a new engine and transmission. After looking at a new truck. And what they want for it. I’ll check back in 20 years

[@tamaraward2164]

Love when you all work together on a video! I follow all of you!

[@carquestionsanswered]

Yay! Thank you!

[@laser31415]

The only change I would make is "we've been living on cheap credit for 30 years not 3. I are still below 1980s interest rates. I started to learn my lesson back in 2012 but it has been 3 steps forward 1 step back.

[@Rick-lf1wy]

yep, I bought my first home in 1984, my interest rate was 12% using a first time home buyer THDA loan. My current home is 2.675%. Today's rates at 7% are still much better than 1984.

[@robsdeviceunknown]

Hey bud, I know you often do, but just in case could I ask that you try to offer solutions to some of these issues. I know your last videos were all about " DO NOT BUY NOW", but any other advice you may have for people would be appreciated. Suggestion financial institutions, routes to take for those that simply MUST buy a vehicle? Options like rentals? hoopties? Stuff like that. I just see so many videos through all the genres I watch on youtube complaining about things but so very few offer any SOLUTIONS or ADVICE. You are probably one of the best for doing it though.

[@scottbenzing1361]

What I am going to try and do soon is select 3 used Toyota trucks that I would care to own. Then just call each dealer and tell each that I plan to buy one of them and ask what % off they would discount from the retail price and then report that to the other dealers and the one who offers the greatest discount has the possibility of earning the sale. Next factor is to negotiate the add ons. If they refuse to negotiate the add ons, then it might be beneficial to negotiate the add ons with the other two trucks.

[@bobk3432]

I was in a jam last summer when our family commuter car literally rusted to pieces and had to be scrapped. I went to Mazda and leased a CX-30 for 2 years. They were offering $2k off sticker and $285/month payment with $3000 down. I couldn’t find anything used worth buying sub $10k. I figured a short, cheap lease would give me and the market time to settle out. I can buy the lease out at the end too, not the smartest way to buy a car, but if things are still nuts, it’s a decent option and we LOVE the car (big surprise actually).

[@ScottyMedina]

I really like these combination clips and what’s so great about them is most of you all I follow.

[@sismachine]

Love this format! Thank you!

[@jeffnoob8448]

Another well done video y'all. Thank you

[@carquestionsanswered]

Glad you enjoyed it

[@RedEyeC]

When people abuse alcohol and drugs they get sent to treatment facilities. Should be the same for people who have an abusive habit for spending money they don't have - call it a "Financial Rehab Facility" - where instructors will teach these people how to save and budget. Most people have never known how - and all the buy buy buy ads and temptations are habitual.

[@melissasmess2773]

I was poor for decades until I got divorced, now I am wealthy. Some people think they deserve everything and ruin your life with debt.

[@RedEyeC]

@@melissasmess2773 - agree with you 100%. The wrong partner will ruin you, the right partner will make you.

[@oneanddone7992]

When the supply dried up during and after covid, there were no cars to buy, and dealers jacked up the price on what they had, and sold what they had. Now that things are getting back to normal, there just aren't too many folks left that have 60 frikken K for a new truck. $100K for a truck or SUV? Insane for all the wealthy.

[@trampslikeus3575]

Thank-you for your honesty. A car dealer telling us to wait for prices to come down!

[@carquestionsanswered]

Always!

[@geekfreak618]

The money flow has NOT been turned off to the Wall St banks.

[@bpb5541]

That is because the public is investing in the top 5 stocks and CRE through their 401ks, even if they don't know it. They have no idea that they are actually holding the bag, but they will.

[@hushmoney2058]

I'm living on Interest. 5.25 % ....

[@chrisschultz6129]

I'm about to replace the clutch and forks in my sisters 2015 Focus (stupid dual clutch automatic transmission). Then I'm going to change the head gaskets and re-ring the pistons in my 2009 Subaru Forester. These are both really good cars other than these two defects. You can fix your cars yourself everybody. In the age of KZbin there's nothing you can't learn how to do (except surgery don't do that DIY).

[@melissasmess2773]

I would bore the block, oversized pistons or the new rings will never seat, I have been a mechanic for 35 years.

[@kmech3rd]

Now that's a kind brother.

[@oceandmike]

Very cool video with the collection of speakers! Thanks

[@406crusader4]

Ok now I will subscribe. Thanks for being honest and telling me to wait to buy.

[@bambam4530]

Transfer of Wealth!!! From the Impatient, to the ones patiently waiting for good deals !!! 😉

[@Mechadondada]

You know, I think I’m seeing WAY less Challengers & Chargers lately. Must be a buttload of repo’s in my area too. Definitely less new trucks than in the recent past too.

[@CityGamer1337]

I love to see the car community coming together

[@WindsurferHD]

I bought two new Toyotas for cash but I went through almost 12 dealers before buying. Well those dealers are calling me almost everyday begging me to come buy a new car from them. They are desperate, super desperate. I live in the DFW area. If you could only hear the begging in the voicemails I’ve been getting the last month.

[@antoniocoleman8380]

I can’t imagine the begging

[@kwmedia1]

You should make a KZbin audio of them!!

[@myrudram]

If prices remain high and consumers are not spending, then eventually manufacturers will have no choice but to begin liquidating inventory to generate sales and income. Prices will decline. This trend represents a contraction in the economy. Consumer spending drops, sales drop, prices drop and layoffs begin. Recession sets in.

[@ordrdchaos]

The manufacturers will just run to the government for the next bailout and we will eat the cost in increased taxes.

[@chuckmcconnell3446]

I believe your analysis of the new and used car market pertaining to the direction of prices is excellent. One thing I would ask you to also include in your pricing analysis for new cars is the very rich lucrative contract that the UAW just negotiated. That makes it harder for new car companies to discount prices because their labor costs have gone up significantly.

[@CookinCatWithMesoMatt]

Everyone was expecting this. The fed has to wait as long as possible to turn the printer back on so they can "save the day". I still don't believe this time is the end of them kicking the can.

[@Hogwild90]

When you see BHPHs shutting down in record that tells you how bad delinquencies are and how leveraged the average dealer is

[@donwise8767]

Please be so kind as to define the BHPS acronym. Thank you.

[@mpeace455]

Buy Here Pay Here. Used car dealers that do the financing.

[@luvworldpeace]

We don't have a problem, these prices gonna be coming down, baby. Let's go!!!! 😅

[@steve-o5079]

Cool collaboration! Nicely done!

[@aquapuncture]

Thanks, Brandon! Very helpful 👍

[@caltiki3090]

This group thing is brilliant!!!

[@carquestionsanswered]

Thanks!

[@caltiki3090]

I already followed the Florida guy, the Idaho dude and Ray and Zach and you awesome !! Thanks !! 👍😎

[@jamesbarca7229]

I might have to buy a truck and start doing repos again...

[@antoniocoleman8380]

I’m on the train with you 😂

[@jimmyamico4713]

Very useful, helpful and informative video❤

[@Plasmar11]

These compilations that you make are freaking awesome

[@carquestionsanswered]

Glad you think so!

[@justinmoore8103]

Lol as GM recently announced 96 month terms...

[@justinfowler2857]

GM: We have 2 options 1. Build affordable vehicles. 2. Extend loans far past the value of the vehicle. Guess which one they chose.

[@daleolson3506]

It will be in a junk yard long before it’s paid for

[@TheIrvingsylva]

People are just dumb for signing a 96 month term..

[@kenik2023]

​@@TheIrvingsylva The "gangsta" down the street from me just bought a hellcat on a 108 month loan👀😳

[@fredgilbert2032]

@@kenik2023 probably drive it a few years and let it go to repo.

[@Bob-cd5pp]

My 2001 Crown Vic will run forever (:

[@robertclubs9908]

Thanks again for the update.

[@alechunsucker1803]

I purchased a 2021 Camry this past weekend. With an 810 credit score the best rate I could get was 7.99

[@melissasmess2773]

Used car financing sucks

[@williamlloyd3769]

Consumer binge has lead to this current economic indigestion. Additionally, Banks didn’t manage this credit risk properly. PS - Banks and credit unions have already set aside or have been forced to set aside funds for loan loss reserves by regulators. What this means is that banks will be more conservative. PS2 - Banks and REIT have more concern about commercial real estate value write downs. PS3 - People could have saved money, bought less car, etc.

[@shawnneal9263]

It's expected that tax returns are gonna be around half (only) from previous years.