Car market crash ISNT HAPPENING‼️ Consumers are too blame because they are still buying‼️

The long awaited car market crash may never come because consumers are still spending over their budgets and over extending themselves to get into a newer vehicle rather than getting into something within their means or a cheaper vehicle. I see it every single day as a car dealer, people are still signing high interest, auto loans or high payment auto loans With the intentions of figuring out a way to make it work rather than budget incorrectly, and purchasing a car that fits within their financial needs. In this economy, there is a financial product for every single situation good or bad and it seems that consumers are taking advantage of that in a bad way. So I don’t see the car crashing unless consumers wind down and spending and start understanding that a correction will only come if they slow down and use the power that’s within their hands to regulate and control market prices.


#cars #dealership #cardealer #automobile #carsales #credit #crazy #cardealership #badcredit #repo #marketcrash #carmarket #carmarketcrash #economy

[tespenkr]

Finally. Someone who isn't clickbaiting the end of the car market.

[ronduncan]

I would never buy a repo car! They are not the kind of people that take care of it or keep up with maintenance like oil changes. People that can’t afford their payments are not paying to change the oil.

[tobiaskozlov]

Getting a 2017 repo'ed is nasty work

[icucmerc]

Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments

[thystaff]

Banks are the main problem in doing high risk lending. I remember when banks would limit what you could buy according to your credit score. No one with a 500 credit score has any business being allowed a loan on a new scatpack. They should be looking at a Nissan Versa or Kicks.

[stefanpuffer]

I have a 720 credit score and was pissed when they offered me an interest rate of 6%. I was expecting 3-4%. Ended up extending the loan to get the a monthly payment below $400.00. Paid off the loan early. I'd pay anywhere from $100 to $400 a month extra on the principal. Tax return all went to the principal. Don't get in over your head. Debt is an anchor that ties you down. Avoid it if you can or get out of it quickly if you can't.

[ThirdCoastGems]

I totally agree with him, PEOPLE NEED TO TAKE RESPONSIBILITY for their own actions. Period.

[Labergemusic]

Car market crash IS happening for people who don't have debt and can pay cash. Look at those cheap cars.

[LoverBoyLensky]

Great video. I tell friends and loved ones about this all the time. These high note car payments is like paying rent/mortgage. But folks dont care cause they wanna show off driving an expensive car instead of budgeting correctly.

[CollegeTalkTV]

Your videos shocked me to how many people are willing to sign insane car notes. I make 120k a year and have an 805 credit score. And still wouldn't feel comfortable paying 1500+ a month for a vehicle. I paid of my 2018 santa fe sport within 3 years. And haven't had a car payment in 3 years.

[thechet]

As someone who is on the finance side of things once as one lender starts accepting the lower scores with red flags, you got to also to stay in business or your not gonna get any deals come your way from the dealerships. I don't understand when a person can't even afford toilet paper to wipe the butt but wants to be "seen" in a BMW or Mercedes.

[Bftd_ed]

I could never imagine paying more than $300 for a car. The first vehicle I financed was a BMW in 2018 and my car payment was 213. Same thing with my wheelchair van that I bought in 2020, 213. Every time I think about wanting a new vehicle, I think about the $500 car payment and I immediately don’t want it anymore

[AraCarrano]

And the first thing that suffers is Maintenance. Not all Auction cars are junk, but all junk cars come from the auction.

[Rchrd]

I bought my 2008 ford escape for $4300 cash. it is a big ugly and could use a repaint, but it runs great and the ac and heat work really well. It is clean inside and out. plus it is a 4 cylinder. and on a full tank of gas at 14 gallons it gets 385 miles. even if i had the cash on hand for a new car, i would rather use it as a down payment of a house just outside of town.

[CarswithNash]

I just buy what I can afford with the cash I have and then I don't have these issues. The cool thing about those super expensive luxury cars is they are normally the cheapest car on the market 10-15 years down the road, so I just buy the older version for cash.

[alecmckinney]

“They don’t want generational wealth, they want generational pain”😂😂😂bro he is so serious but fucking hilarious😅

[wahswolf]

Thank you! Well said. People who are talking about reform, demanding lower prices, etc should understand that they can control this to a certain extent by not participating in these high prices or loans.

[svaid]

This video needs more views and more awareness. These are reasons why inflation is still high. Well said Yusuf, place make more of these vids

[MetalVII]

Car prices are going up worldwide but the US lending system is crazy.

I couldn’t believe some of your videos, Yusuf. In the UK, I’ve seen interest up to 19.9% for a car loan on Autotrader but never been offered anything above 12% (BMW used is 11.9%).

I try to not spend above £300 ($376) for a car payment and I’ve been fortunate enough to easily covered the car payment, house and young family for a while but I’d never have a car payment that is pushing towards half of my monthly wage.

For now I’ve got a cash car (nabbed when the market crashed a couple of years ago) and I’m just getting the odd part fixed and tyre changed. I’m planning to run it as long as possible.

Thanks for the insight Yusuf, appreciated. Love the content, it’s a real eye opener.

[Tigerlily_Fresh]

Thank you for all that you do! Greed and pride are the factors.