Repo Crisis Gets worse

Repo Crisis Gets worse
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[rwdplz]

Stellantis basically on the verge of collapse, GM with a major layoff announcement, but nobody willing to lower prices. Live by the greed, die by the greed.

[garrettrinquest]

I just bought a 10 year old Honda and drove it till the wheels fell off. Then I put them back on and kept driving it

[curtisi]

People buying a car which they couldn't afford and those who can know it's a ripoff. These companies are driving themselves out of business.

[Voodicus]

The secret to car life: 10-20 year old toyotas.

[pragashgnana]

I just keep buying used cars for cash, screw high car payments with high interest

[yelapa]

If people are getting laid off in big numbers in tech, heavy and light manufacturing, and retail/service, then the sh*t is real.

[zambe]

I work at a “luxury” dealership in Los Angeles. And we can feel the hold back. The great credit people want crazy deals and the roach credit folks can’t get approved. It’s going to be very interesting!

[ownsilver]

Our daily drivers are a 24 year old F350 with a 7.3 liter diesel been paid for for over 15 years our second vehicle is an 18 year old Toyota paid it off 15 years ago no payments since 2009 also became debt free in 2009

[TKsGarage]

68 banks over extended. This reminds me of 2008 all over again. Everyone saying its fine, everything will be ok, and then boom it will all blow up again

[theonetrueking]

I live in Vegas and have a 2010 Jetta SE with 214k miles on it. Runs great. The sun visor on the driver's side just came loose but am I getting a new car??? No way Jose!

[e]

These people agreed to finance these ultra high prices so they can impress someone they don't know. Guess what, the person they are trying to impress really does not give a damn

[joeykitty]

This presentation is 'spot on'! Believe it or not, I've had three credit card limit increases over the last 6 months! I've stopped using them...

[jonathantaylor]

The 0% down 84 month loan nonsense was always going to lead to disaster.

[Four_Eyes]

Real estate market in Reno is finally starting to soften, tons of new listings. Next 12 months should be interesting.

[kevinkidneyy]

paid off 21 tacoma . will never get a loan again . car payments suck

[tomw]

4:00 This is where Lucky's channel is superior to the others. He understands the finance side of what's going on better than most. This is the financial plumbing of the economy that the public isn't aware of.

[jeffjordan]

Your experience is much broader than most “car business” You Tubers. I appreciate your intelligence.

[amichaelj]

This was a couple years ago but I went to get my 2008 Toyota serviced at a dealership and in my couple hour wait I looked at used cars. Of course I had a salesman right on me and he asked "What would it take to get you in a car today?!" I wasn't working and I had no money down. He was willing to let me drive off in a $35, 000 used Lexus with absolutely no income and no money down. He really wanted to sell me that car and I was just dumbfounded on why the car dealer and banks would even allow that.

[Apogge_kings]

The government has asked the banks to hold off force closures until after the elections. My wife works for a mortgage lender.

[timkoyen]

I was speaking with a friend the other day who works for a national leasing company, and his job is to sell lease turn ins and bank repos. He said that his team is selling an all time high number of repos and expects it to get bigger...much bigger. Usually they sell 4000ish repos per month, but they sold over 6000 last month and are on track to sell 10, 000 this month. Like I said, its a big company.