Economic indicators keep on pointing to a collapse on the near horizon as repo men see a giant boom in their line of work.
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I honestly think that auto manufacturers will stop selling vehicles and just become a subscription service. Pay a monthly fee and you get to drive a car. For most people it is basically that already. Most people i know unfortunately have always had a car payment.
I AM DONE BEING IN FEAR OF ANYTHING!!!!! I WILL FOLLOW MY SPIRIT AND WALK IN COMPASSION AND LOVE! IT IS THE ONLY THING THAT WILL OVERCOME EVIL! IF I DIE BEING COMPASSIONATE AND LOVING THEN SO BE IT!
All the cars have lojack so yeah they can pinpoint then wherever they are. I’ve been repoed before and the only way they let you get your stuff is to pay whats late on your payments and pay the tow company whatever obscene amount they charged!
They won’t even sell a Blu-ray disc player rhat doesn’t connect to the internet anymore. And they tell you point blank that if you don’t connect it to the internet for updates, it will stop working eventually.
That should give you a clue for Electric Vehicles.
Nice job on the video, as always brother! Wisdom is telling me to wait for the car price bubble to burst and then buy my next vehicle low low low….
On the topic of “funflation:” remember back when people started to get their kids and loved ones “experiences” for gifts instead of things? Yeah, that’s what this is. Everyone is trying to have all these experiences together at Disney or whatever and it’s not really realistic any more than just throwing the same cash at your people, expecting to maintain the relationships.
They are keeping the prices high (vehicles, housing and novelties) to keep us locked in. That way you have to pay more for parts and repairs because you can’t afford to buy something else. Inflation is way up and earnings are way down. I believe they are doing this on purpose to squeeze out as much money before the baby boomers start passing away. Once that happens the economy will take a hard fall and only the extremely wealthy will be safe.
So many comments claiming theft etc. I stopped making payments not because I cant afford it but because the finance company is taking 96% of the payment toward interest.On time for the year I have had it and the principle has barely moved at all. so I normally pay on a car for a year and a half then pay it off but I cannot afford to do that now because the value to resale is tanked due to the greed of the finance company. Also cant afford to pay it off even if I wanted to due to the amortization scam that this finance company is doing. Don’t worry though I stripped the car for the value I put into it and have already sold the parts to recoup my loss. That credit hit will be removed in a few months and that will be that. Also spare me your judgements, I don’t care. I get it you think its theft, I do not. I think it is justice. Just continue on being the mindless slave you always will be and allow them to steal your energy and learn nothing. Hey but at least you can be judgemental, so swim in it.
Used car prices won’t drop thanks to this strike currently going on by the UAW. Nobody’s buying new cars because of a slow down in production ( in the next 6month to a year) so since people who can afford new cars can’t buy them because of the low production #s. They’ll pump that money into the used car market driving up the price of used cars for everyone. For another year or two. No question, on top of that, newer vehicles having so many recalls issues and warranty issues, some people just don’t want to deal with that.
We live in the Ozarks as well. AND have an ancient vehicle. On a side note, Anyone who pays an extravagant amount to go see a talentless grifter (Taylor Swift) is NOT money savvy. Love your channel, dude!
I did repos over a decade ago. Personal items can be removed once their in a secured area. Best thing to do if way behind is remove your things, contact the lender, and call it a daaay. It’s going to go. Leave it clean as it will be auctioned to dealers..if you owe 10+k wholesale may be half, if you completely crapped it up maybe 2k, less repo, storage, etc and you’ll owe the balance. Or smoked credit for a decade???
the toyotas in those foreign countries are diesels… the 20r/22r/22re/22ret were great engines an a close second to its diesel cousin, but the chicken law prevented us from being allowed to have them
92 E150 conversion van that has been mechanically replaced bumper to bumper (172k miles) and a 2002 chevy silverado (400k miles) sound mechanically. I’ll run them til the wheels fall off.
I honestly think that auto manufacturers will stop selling vehicles and just become a subscription service. Pay a monthly fee and you get to drive a car. For most people it is basically that already. Most people i know unfortunately have always had a car payment.
EVENTUALLY THEY WILL NOT BE ABLE TO REPO ALL OF THE CARS AND THE BANKS WILL NOT WANT THEM BACK.
I AM DONE BEING IN FEAR OF ANYTHING!!!!! I WILL FOLLOW MY SPIRIT AND WALK IN COMPASSION AND LOVE! IT IS THE ONLY THING THAT WILL OVERCOME EVIL! IF I DIE BEING COMPASSIONATE AND LOVING THEN SO BE IT!
All the cars have lojack so yeah they can pinpoint then wherever they are. I’ve been repoed before and the only way they let you get your stuff is to pay whats late on your payments and pay the tow company whatever obscene amount they charged!
They won’t even sell a Blu-ray disc player rhat doesn’t connect to the internet anymore. And they tell you point blank that if you don’t connect it to the internet for updates, it will stop working eventually.
That should give you a clue for Electric Vehicles.
Nice job on the video, as always brother! Wisdom is telling me to wait for the car price bubble to burst and then buy my next vehicle low low low….
On the topic of “funflation:” remember back when people started to get their kids and loved ones “experiences” for gifts instead of things? Yeah, that’s what this is. Everyone is trying to have all these experiences together at Disney or whatever and it’s not really realistic any more than just throwing the same cash at your people, expecting to maintain the relationships.
All new cars have tracking in them. I can open the Ford app, and see the exact location of my F150
They are keeping the prices high (vehicles, housing and novelties) to keep us locked in. That way you have to pay more for parts and repairs because you can’t afford to buy something else. Inflation is way up and earnings are way down. I believe they are doing this on purpose to squeeze out as much money before the baby boomers start passing away. Once that happens the economy will take a hard fall and only the extremely wealthy will be safe.
So many comments claiming theft etc. I stopped making payments not because I cant afford it but because the finance company is taking 96% of the payment toward interest.On time for the year I have had it and the principle has barely moved at all. so I normally pay on a car for a year and a half then pay it off but I cannot afford to do that now because the value to resale is tanked due to the greed of the finance company. Also cant afford to pay it off even if I wanted to due to the amortization scam that this finance company is doing. Don’t worry though I stripped the car for the value I put into it and have already sold the parts to recoup my loss. That credit hit will be removed in a few months and that will be that. Also spare me your judgements, I don’t care. I get it you think its theft, I do not. I think it is justice. Just continue on being the mindless slave you always will be and allow them to steal your energy and learn nothing. Hey but at least you can be judgemental, so swim in it.
Used car prices won’t drop thanks to this strike currently going on by the UAW. Nobody’s buying new cars because of a slow down in production ( in the next 6month to a year) so since people who can afford new cars can’t buy them because of the low production #s. They’ll pump that money into the used car market driving up the price of used cars for everyone. For another year or two. No question, on top of that, newer vehicles having so many recalls issues and warranty issues, some people just don’t want to deal with that.
Cuba 1959. No more new cars. Fix fix fix. Are we turning into cuba north???
Comment
Very interesting. Do hope prices come down someday.
We live in the Ozarks as well. AND have an ancient vehicle. On a side note, Anyone who pays an extravagant amount to go see a talentless grifter (Taylor Swift) is NOT money savvy. Love your channel, dude!
I did repos over a decade ago. Personal items can be removed once their in a secured area. Best thing to do if way behind is remove your things, contact the lender, and call it a daaay. It’s going to go. Leave it clean as it will be auctioned to dealers..if you owe 10+k wholesale may be half, if you completely crapped it up maybe 2k, less repo, storage, etc and you’ll owe the balance. Or smoked credit for a decade???
Maybe a mechanic will back me up, but avoid cvt transmissions for used cars. They can’t be repaired or rebuilt.
the toyotas in those foreign countries are diesels… the 20r/22r/22re/22ret were great engines an a close second to its diesel cousin, but the chicken law prevented us from being allowed to have them
92 E150 conversion van that has been mechanically replaced bumper to bumper (172k miles) and a 2002 chevy silverado (400k miles) sound mechanically. I’ll run them til the wheels fall off.