Repo Crisis Begins: 'GiveBackCar' EXPLODES on Google Trends

Millions of Americans Want to to "GiveBackCar" as Inflation SOARS and Car Prices FALL.

GreatCreditFast Blog:

[benvolman]

What's happening is that people are letting their cars go and not paying credit cards because they are trying to hold on to their homes and eat.

[michaellalanae]

The banks are stupid allowing 50k debt on a vehicle only worth 15k at the most .

[RealKansasMan]

This is exactly why I have a vehicle that is 100% mine with title in hand. I MUCH rather own an older vehicle and put maintenance work and repairs into it every so often than to have nice new vehicle while being stuck with a big car payment along with outrages insurance and tag renewal costs.

It's easy to take what we fully own for granted, especially when it's not something as new or as nice as we'd like it to be. We'll, this morning I was feeling very thankful and fortunate to be in the position I'm in with a vehicle that I own and having no major debts other than some medical debt.

I see so many people with really nice vehicles and homes that make them look like they are doing very well off until I learn just how much debt they have accumulated and are stuck paying monthly while being really stressed out.

Not worth it.

[melissad.]

This is basically what happened to the housing market back in '08. People lost their homes because of crazy interest rates and payments. I'm going to drive mine until the wheels literally fall off!

[rewind]

The only thing that I ever had a loan for was my house which I paid off in 3 years. This meant no expensive vacations, no dining out, no hockey games, just working to get rid of the debt as fast as possible. Since then have never purchased something if I couldn’t pay for it. No new cell phone, computer, television, or anything else till it broke. Live within your means. If you have to live on credit you are in deep trouble.

[sutats]

It's mostly price gouging under the guise of inflation.

[jackswicegoodiii]

Our car insurance just jumped up $40 for absolutely no reason. And the state we live in, it's required to have it. I'm getting awfully tired of every f u c k i n g thing costing so damn much.

To all the idiots: I did vote for Trump. But since there's no voter ID requirements, it didn't matter anyway. Just like it won't matter in 2024.

[littlebitmckee]

Every high school student and parents of high school students needs to see this. NO ONE SHOULD BE TAKING A LOAN FOR EDUCATION. Work as you go. Only take the number of credits you can pay for in cash. And I am a recently retired professor of nursing. Not worth being strapped with a loan.

[kevinclark]

The sad part is, when this happens the very people that couldn't afford their cars will be taxed to bail out the banks and automakers.

[jlm]

Anyone who takes out a student loan is absolutely not learning anything valuable in school... They are being taught what to think instead of how to think. I dropped out in the tenth grade and now as a Construction Contractor make more than 95% of the people I know. The problem is nobody wants to physically work and learn actual skills that will ALWAYS be in demand.

[ownsilver]

I avoided this by driving my vehicles for many years last vehicle payment was 12 years ago my truck 23 years old my wife's car 17 years old both vehicles are in pristine shape

[MilePost]

My dad always said when you buy a new car and drive it off the lot, you just lost thousands of dollars. Today the cost of a vehicle is out of reach plus dealing with inflation!!!

[Commut]

I worked in the used car biz and customers just want to buy bling to show off. No one is forcing them. If you buy a decent used vehicle you can and I have kept them for over twenty years. If someone gave me a new car I'd sell it instantly (as I did with a motorcycle I won). "Clout" is what fools spend money on. One of the wisest choices anyone can make is learning basic mechanics early in life. (Where I'm from that was expected.) That saves you mad money for the rest of your days.

[michaellowe]

Wow, if this keeps up, people may have to drive cars without heated seats, wifi connections, and remote start from your cell phone.

[EJI]

I remember during the height of 2020 and 2021, I encouraged my parents to allow the dealerships to buy their cars (2014 Lexus IS and 2014 Chevy Silverado) because the dealers were in such a demand for used vehicles and were paying a premium for almost anything that ran and drove. I mean one dealer was offering my mom more than what she originally paid for the car. Carvana learned this the hard way by being greedy and buying up anything that could move and trying to sell for a profit, until the hype died down and people no longer wanted to purchase a new car.

It’s just amazing that no one saw the writing on the wall that this would eventually come back to bite the big lenders and banks. Now dealers are stuck with overpriced inventory they can’t move, and people are just sticking with keeping their old vehicles going for as long as possible because interest and car payments are insane. You know it’s bad when a Honda Civic is $500ish a month to drive and a new pickup is $50k for a base model.

Eventually it’s going to all come crashing for better or worse for some people, and hopefully a hard reset on everything.

[richardcoleman]

Anyone that does not pay their landlord first when they get their money each month is a complete and utter fool. Accommodation is the most important thing in life

[adamjutras]

And manufacturers are ditching their cheap models (10-20 grand) in favor of vehicles that range between 30-60 grand.

[MsTuliplady]

Meanwhile, those building the cars are going on strike for more pay. Simply won't need the worker if their returned products sits at dealerships for months...

[Justin-dyib]

I was in the car dealership business for 20 years. I brought this up during the recession in 2008.

Between fees and longer terms with some not so good interest rate, I was telling everyone, a Vehicle bubble is being created like the housing bubble.

We started seeing more voluntary repo’s (turning vehicles back in at the dealership) year over year.


Between dealer mark ups, add-on’s, long terms, and crappy interest rates.

Yea the car bubble will pop in the next few years.

[TheRockyCrowe]

Everyone keeps saying market collapse is on the horizon and prices are being cut but I don’t see any price drops. Still seeing ridiculous inflated prices for used veichles like asking $12K for a 2004 Toyota 4 Runner with 250K+ miles on it or $14K for a used 2015 Prius.
The new car market for ‘starter cars’ is asking $25K - $30K bare minimum no matter where you look.