CAR REPO CRISIS | People Aren't Paying Their Auto Loans

People STOPPED PAYING THEIR BILLS And The Car Market Is SCREAMING IT!

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!

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*None of this is meant to be construed as financial advice, it's for entertainment purposes only.

#UsedCarMarket #CarPrices #carmarket #usedcarprices

[SoonerMikeD]

Let’s be honest. Not doing repairs on a car you know is going to be repo’d is one thing but riding around in filth like a disgusting pig is a whole other deal.

[jamesmyers]

Buying a new Audi is a mistake, but a used and/or repo'd Audi is a big, costly mistake.

[BrettKuntz]

Back in 2008, people trashed their homes for defaulting on their payments just like they are doing with their cars.

[richdiana]

I feel sorry for people that can't afford the payment and the maintenance. It's getting more common.

[martingriggs]

When I had my 2 cars repod in 2008, I cleaned them like I was trading them in. I didn’t want to screw the next owner.

[danielfenmore]

There are people who should never be allowed to get loans.

[josephsiddall]

All this going on and my Toyota dealership is still doing markups on some vehicles. For example their corollas have a $2000 markup.

[charlesmak]

You should've worn a HazMat suit for this video.

[greenearthblueskies]

I actually like you are showing the good, bad and the ugly

[GoCorvette]

It's $12, 995 for the cheapest car that only costs the dealer $1, 000-$2, 000 plus reconditioning costs, maybe $1, 000 and the customer gets a loan for $3, 000 down @28%. The dealer is happy if the customer makes the payments for one year. That first down payment basically pays for the car and after that, each time it's resold is cash in the pocket. Better than Las Vegas slots.

[BurkyGolf]

The invention of the modern credit system was terrible. Implanting the idea in everyone's heads that they "need credit" absolutely was just horrendous. But that's the banking system for you, banks only make money by offering debt to people.

[rodell]

The type of people that drive these cars are the people you see get fired on their 1st day.

[enmass]

Headliner stains could also mean moonroof leaks. It happens a lot when people don’t clean the drainage lines so they get blocked.

This is why I refuse to buy used cars with moonroofs.

[underachiever]

My personality has always kept me from financially getting in over my head. Prudent Men, know or learn their limits.

[MrsCarQuestionsAnswered]

I'm sure you've washed your hands since you recorded this... But could you wash them again just in case please?

[azmike]

From seeing these repos, hearing Brandon's knowledgeable explanation of people living paycheck-to-paycheck, you'd think the poverty rate in his area of North Carolina (about 7.7%) would be higher than the national average of about 11.5%.

[elimeir]

I turn wrenches on Euro cars in the 10-100k range and we are slammed and booked 3 weeks out.
People are fixing their car instead of trading them in.

[peterkwok]

You should wear some latex gloves before checking these cars out Brandon. Maybe even a mask due to virus that might be out there inside the cars.

[wikolib]

Brandon, that's a nasty passel of cars.

[birdseye]

I have a 99 buick GS and the interior on it is immaculate, the body has no dents, when I look at these cars that are 2009 to 2020 the interiors are awful, I guess they are not built that well in the beginning