People Have STOPPED BUYING CARS!

People have stopped buying cars because the cost of ownership is too expensive. Car prices are still pretty high, even though they have been coming down, interest rates are too high for people to afford the monthly payments and even if you can afford both of those once you actually own the car, the cost of insurance maintenance and fuel is also too high. So many people are just holding onto their cars until the wheels fall off.

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Articles Mentioned in the Video

#realestate #housingmarket #homeprices #housingmarketcrash

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DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Michael Bordenaro is not a registered financial advisor. Your use of Michael Bordenaro’s YouTube channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, YouTube, E-Mail, and Instagram) for communications with Michael Bordenaro does not establish a formal business relationship.

[BigDogsGottaEat]

Car insurance is what a car payment used to be and a car payment is what a mortgage payment used to be.

[KathleenCernetich]

People need to boycott these high prices and stop buying everything

[watchmanonthewall]

If you can't afford to pay off a new car in 3 years, you can't afford the car. Ninety percent in this country have been spending beyond their means for decades. You don't NEED most of the things you think you NEED. You only WANT them.

[tishasian]

I haven't had a car payment in almost 20 years I buy my cars with cash and drive them until they fall apart

[FamousWolfe]

“You will own nothing and be happy”

People are slowly starting to wake up to what’s actually happening. They laughed at first, called us conspiracy theorists and mocked us. Now it’s playing out exactly how the WEF said it would. Nobody’s laughing anymore.

[nobodynothing]

I make a damn good living I would never pay more than 35k for a new car. Who cares what other people think. Why spend a fortune to impress them.

[GreenMudkipz]

Personally don't even like modern cars. Way too much extra crammed into what is supposed to be reliable transport.

[AmericaFirst]

There is a YouTube video showing a man reordering a Walmart order from 2 years ago it was $124 and now $430

[azmike]

I've said it before; refusal to buy is always the consumer's strongest weapon.

[maverick-zjjz]

Car manufacturers have ignored the middle class, they made high end luxury cars and trucks. And focused on fleet sales.1, 800.00 a month for 84 months is nuts.

[asadianbelifont]

Searching for the cheapest new car you can buy, with excellent credit, is still like a $650+ a month expense. That’s criminal and I refuse to pay that for a car

[AldoFelt]

Buying a car in America is a pain. Sales reps are horrible, managers are horrible the experience is bad.

[TheSaturnV]

People are going to have to get HANDY again and educate themselves on keeping cars repaired. I bought a 2005 VW Beetle Turbo for $800 on craigslist that purred like a kitten but the clutch was burned out. Bought everything I needed on RockAuto for around $400, followed a YouTube video on installing a new clutch and it's now an outstanding daily driver and gets terrific fuel mileage.

[davidgriffin]

I am 60 and a new truck on average costs more than my first house. No thanks.

[bobmarley]

I hope the system crumbles faster and faster. people have been so foolish trying to keep up with overpriced goods and services. too bad for those who are caught in debt trap.

[georgekershner]

Why cant they just make basic cars and trucks? Heck roll up windows and ac, forget all the leather, gps screens etc .

[Norm]

I was going to buy the new 2024 Corvette to attract the ladies, but since I am 82 I thought it would be easier to drive my 2015 Honda Odyssey with the windows down and throw out one hundred bills as I drive slowly through town, that would probably work just as well.

[deepfrieddeals]

I'm boycotting this trend of using smaller engines with turbochargers, auto idle start/stop, and variable cylinder management. All gimmicks that dramatically reduce long term reliability in exchange for a couple extra mpg.

[swiftbear]

Cash for clunkers was one of the many crimes against humanity.

[gsftom]

Paying $60k for a truck is an IQ test imo. When I see a guy bragging abt how much he paid for his truck, I see him as an indentured slave 🙂