Fresh & Fit - July 01, 2025


Don't Buy A Car Until You Watch This!


Episode Stats


Length

1 hour and 21 minutes

Words per minute

151.1047

Word count

12,242

Sentence count

1,177

Harmful content

Misogyny

20

sentences flagged

Toxicity

122

sentences flagged

Hate speech

16

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

In this episode, we cover why you shouldn t buy a car until you watch this video. The general consensus is if you want to get a car, you should lease it from a financial institution. But if you can pay it off in full, even better!

Transcript

Transcripts from "Fresh & Fit" are sourced from the Knowledge Fight Interactive Search Tool. Explore them interactively here.
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Toxicity classifications generated with s-nlp/roberta_toxicity_classifier .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:07:34.000 What's become if it's in here, and you better behind their payments?
00:07:38.000 This is why it gets near their alt $145 a month.
00:07:41.000 and with auto loan payments are exceeding...
00:07:44.000 you can't afford to pay for the rent.
00:07:46.000 I'm not sure if you're a little bit more than a loan.
00:07:58.000 Look at this.
00:07:59.000 All these are bank.
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00:12:27.000 you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you you
00:12:57.000 you you you you you you you you you you you you you you you you you you you you you you you you you you you Thank you.
00:13:30.000 Thank you.
00:13:53.000 All right, fellas, ladies, we're back to the show once again to a different cover.
00:13:57.000 Why you shouldn't buy a car until you watch this video?
00:14:00.000 We got you guys.
00:14:01.000 See you in a bit.
00:14:02.000 See you in a bit.
00:14:20.000 We bought a change again.
00:14:22.000 We all here taking names.
00:14:24.000 Let our voices rise.
00:14:26.000 Better reach the skies.
00:14:28.000 We're about to change the game.
00:14:30.000 Let's go.
00:14:39.000 And we're back.
00:14:40.000 Can you see me?
00:14:41.000 Can you guys actually see me, though?
00:14:42.000 You can see me, right?
00:14:43.000 Is it better?
00:14:44.000 I should do this light real quick.
00:14:45.000 Let's do this one.
00:14:47.000 That's way better.
00:14:48.000 You know, it's kind of dark, so got to make sure you can see me.
00:14:50.000 All right, but we're back, man.
00:14:52.000 Today we're going to cover cars because you guys know I love cars real quick on the channel.
00:14:55.000 And of course, you guys have seen my car collection.
00:14:58.000 It's been extravagant, crazy, wild.
00:15:01.000 Also mild as well, but they've all been fun.
00:15:04.000 I've learned a lot about cars over the years.
00:15:06.000 And let me tell y'all, man.
00:15:07.000 Oh, man.
00:15:11.000 Boy, did I take some L's?
00:15:12.000 I took some W's too as well.
00:15:14.000 But of course, most people are in dire need of help because either they don't know how to buy a car, where to buy a car, or if to buy right now.
00:15:23.000 Because guys, the market is cooked.
00:15:25.000 Like real estate market is, of course, you know, where is that with the rates?
00:15:29.000 You can still buy certain deals, but car markets, man, are cooked.
00:15:33.000 Actually, there's a new study that says the actual price of a new car has rose to a minimum of $50,000.
00:15:39.000 $50K.
00:15:40.000 That is right, guys.
00:15:41.000 $50K for a car now is the cheapest you can get, pretty much, as an average.
00:15:45.000 So that means car prices have skyrocketed, guys.
00:15:48.000 And at the same time, if you want to buy a car, bro, listen, if you're a guy, that should be on the list.
00:15:53.000 As a man, you need accessories, bro.
00:15:55.000 You need to watch.
00:15:56.000 You need at least one nice car and obviously money in the bank and a good credit score.
00:16:01.000 That foundation right there gets you in the door.
00:16:04.000 And of course, you know what I'm saying?
00:16:06.000 Regular doors and doors that women have. 1.00
00:16:09.000 But consent, of course.
00:16:10.000 But the point is, you guys can make it happen.
00:16:12.000 So this is the problem, right?
00:16:14.000 A lot of people nowadays have been brainwashed to think that, okay, if you go to buy a car, just worry about the down payment.
00:16:20.000 Listen, I'm all for you guys getting a good price on down payment because you got to pay monthly.
00:16:25.000 But the problem is, you're not looking at exit.
00:16:27.000 And I learned this the hard way because I bought a bunch of cars, guys.
00:16:30.000 A bunch of cars.
00:16:32.000 Maybe too much.
00:16:33.000 I probably eight, ten at a time.
00:16:36.000 Wasn't the worst, but it wasn't the best choice ever.
00:16:38.000 But I learned about a car market, getting deals, financing, leasing, what's better for you.
00:16:43.000 And the general consensus is if you want to get a car, guys, look at it two ways.
00:16:46.000 You got a business, you probably want to lease.
00:16:49.000 If you're a personal owner of the car, just finance.
00:16:52.000 But if you can pay it off in full, even better.
00:16:55.000 And the typical age advice, it's oldest age advice is to get an old reliable car, of course.
00:16:59.000 That's what it says to do.
00:17:00.000 It gives you point A to point B. But let's be honest here, fellas.
00:17:03.000 You want a nice car, bro.
00:17:05.000 We want a nice car.
00:17:06.000 We want to either...
00:17:08.000 We spoke about this last stream as Zerka.
00:17:10.000 The Corvette is the best bang for your buck right now for supercar, so to speak, all the bells and whistles, and it's a good price.
00:17:17.000 And if you look here, guys, at a Corvette, you can get a used Corvette right now, guys, for literally under $60,000, which used to...
00:17:37.000 I don't know who bought a Corvette for 100K bass.
00:17:41.000 That's terrible.
00:17:42.000 But people did it.
00:17:43.000 And at the same time, guys, you got to understand.
00:17:48.000 These actual numbers are what happens after you buy the car.
00:17:53.000 So you buy the car at the beginning, and then you're like, okay, I got a new car, bro.
00:17:57.000 It drives a lot.
00:17:58.000 You're excited.
00:17:59.000 You're all happy.
00:17:59.000 Like, I got a new car.
00:18:01.000 But what you just did is you entered an agreement where you're for sure going to lose money on the car.
00:18:05.000 And brother, this is not good.
00:18:07.000 So here you go.
00:18:08.000 This is the actual price of the Corvette's now.
00:18:11.000 Look, this is not a bad price.
00:18:12.000 For a 21 Corvette, you can get one for 53k.
00:18:15.000 Not bad at all.
00:18:16.000 31k miles.
00:18:17.000 I'd argue that's a pretty good price for a Corvette.
00:18:20.000 And again, you get the speed, the look, you know, all the new tech.
00:18:25.000 You get the American muscle, red interior.
00:18:30.000 I'm not going to lie, man.
00:18:32.000 And actually, these cars are good because let's say you're not into like a Ferrari or Lamborghin or McLaren.
00:18:41.000 It's all you need, bro.
00:18:42.000 You get this on like a truck or like a daily user that's a little bit higher up.
00:18:47.000 You're good to go.
00:18:48.000 So let's do some math here real quick, right?
00:18:50.000 Ooh, here you go.
00:18:51.000 So this is another reason why it's so cheap.
00:18:53.000 It's a salvage title.
00:18:55.000 One accident reported, which isn't the worst, guys, because I'll be honest with you guys, man.
00:18:58.000 If you're keeping a car, who cares?
00:19:01.000 But there may be issues in the future that you may want to look out for as well.
00:19:05.000 Let's look at a different car because this one's kind of iffy.
00:19:08.000 Let's look at this one right.
00:19:11.000 That's a little bit too high.
00:19:12.000 high mileage.
00:19:12.000 Let's look between...
00:19:17.000 Oh, this one here.
00:19:18.000 22, 7k mls, 60k basically, right?
00:19:26.000 We won't run us like smooth.
00:19:30.000 Let's go to car grows, actually.
00:19:31.000 Yeah, you know what?
00:19:32.000 Let's just go right here.
00:19:33.000 Let's look at this from this standpoint.
00:19:35.000 Let's look at used cars.
00:19:37.000 We'll do Chevrolet.
00:19:40.000 We'll do the Corvettes.
00:19:42.000 And we'll go minimal 40,000.
00:19:45.000 And we will go like max 70,000.
00:19:49.000 All right.
00:19:50.000 Let's do 100 mile radius. 0.94
00:19:52.000 And look at zip code that I'm close to.
00:19:56.000 Yeah, that's fine.
00:19:58.000 Cool.
00:19:59.000 All right.
00:19:59.000 Here we go.
00:20:01.000 And guys, by the way, we're on kick as well.
00:20:03.000 We should be having some people there on kick. 0.59
00:20:05.000 I want to go ahead and give somebody a sub on this one for sure.
00:20:08.000 I'll do that later on.
00:20:09.000 So if you guys don't mind, watch my kick as well, Rumble, and as well, YouTube, but kick because we're going to do some sub battles here.
00:20:15.000 And we'll give you the first sub pretty soon in like 10 minutes.
00:20:18.000 Alright, but let's go ahead and go over this real quick.
00:20:22.000 So we got here.
00:20:25.000 We're over here.
00:20:26.000 We're over here.
00:20:27.000 Yeah, here we go.
00:20:28.000 So look at cars here, right?
00:20:30.000 Let's say we look at Discord vet here for 63k, right?
00:20:36.000 And again, let's look at the actual details here.
00:20:38.000 Okay, one accident reported.
00:20:40.000 Yo, niggas can't drive, bro. 1.00
00:20:42.000 Like, I confess, niggas can't drive, bro. 1.00
00:20:44.000 Like, what is happening before?
00:20:47.000 Yeah, accidents, bro.
00:20:48.000 Unless it's not your fault, then I get it.
00:20:49.000 But okay, let's go back.
00:20:50.000 I don't want no accidents on this car.
00:20:52.000 Let's go to this one.
00:20:54.000 Any accidents?
00:20:56.000 Okay, no accidents.
00:20:58.000 Ah.
00:21:00.000 Report as a corporate leased vehicle. 1.00
00:21:02.000 Fuck it, bro. 1.00
00:21:02.000 It's fine. 1.00
00:21:03.000 Clean title.
00:21:03.000 No accidents.
00:21:04.000 That's all really matters.
00:21:05.000 Now, this car is a 23, right?
00:21:08.000 Let's see if we actually have like a...
00:21:13.000 1LT.
00:21:14.000 It's fine.
00:21:14.000 It's a Corvette, right?
00:21:16.000 So let's say this is your Corvette, right?
00:21:17.000 And let's look at the numbers here.
00:21:20.000 This price is below market price, which isn't bad.
00:21:23.000 But around $55.57 would be perfect.
00:21:27.000 But let's say this is where you're going to work off of your down payment.
00:21:31.000 These Corvettes are going for what new. 1.00
00:21:34.000 They're going for like what?
00:21:34.000 If I'm correct, like $70, $80, $85, $90, right?
00:21:40.000 And what?
00:21:42.000 This is a 2023.
00:21:45.000 So this two years down the line, it's dropped like 20, 30K.
00:21:49.000 And obviously speaking, like, guys, at the height of the market for these cars, they were at high demand.
00:21:54.000 Which means you went ahead and bought this car around, I was arguing 90 to 100K.
00:21:58.000 So right now, let's just do some math here.
00:22:00.000 If you bought this car for around 100K, right, let's say, to be safe, 90K.
00:22:05.000 90K, right?
00:22:06.000 The car is now worth, I'm just generous, $61,000.
00:22:10.000 If someone pays that price for it.
00:22:12.000 So you lost $30K on this car basically in two years.
00:22:18.000 Which, if you are okay, with losing money, it's not that bad, but bro, that's still bad for a lot of people.
00:22:23.000 So I ought to wager that this is still a loss in any case, which it is.
00:22:27.000 But let's say you're going to put on this car now if you depreciate it.
00:22:31.000 You put like 3K down on this car, right?
00:22:36.000 Your payment is $1,242.
00:22:38.000 That's still pretty high for most people's car payments because if you add in rent might be like $15 to $2K, $1,500 to $2K.
00:22:46.000 This is like half of your rent, basically, right?
00:22:48.000 Now, mind you, this is a fair credit score.
00:22:51.000 Let's say we do excellent.
00:22:52.000 It's still over $1,000.
00:22:54.000 So guys, this is very important.
00:22:56.000 This part right here is the part that matters.
00:22:58.000 This number right here is not that important.
00:23:01.000 Let me explain.
00:23:02.000 It is in a sense that you got to pay this up, of course.
00:23:05.000 But in the long scheme of things, this number right here is how to get you.
00:23:08.000 Oh, you need a lower payment?
00:23:10.000 Don't worry.
00:23:10.000 We'll knock off some price of the car and lower the payment for you.
00:23:13.000 No problem.
00:23:14.000 But what I'm not telling you is that over time, depreciation, and these cars have a definite shelf life.
00:23:20.000 When you drive cars a lot, you're losing value for sure no matter what you do.
00:23:24.000 Whether it's a Corvette, whether it's a high-end date, a Toyota, it doesn't matter.
00:23:28.000 Now, mind you, at this point, people focus on this actual number right here, which is fine.
00:23:33.000 I get it.
00:23:33.000 I was too as well.
00:23:35.000 But you need to worry about the exit of this car, right?
00:23:38.000 So I like to project things in the future if I can.
00:23:41.000 And of course, look at the past.
00:23:43.000 And you look at all these cars.
00:23:44.000 Go back to the year that you're in.
00:23:46.000 Sorry, obviously, look at the year that you're in.
00:23:48.000 And then go back to the year of this car.
00:23:50.000 Look at the price of the car when it was back then.
00:23:52.000 So let's do price of base Corvette when first came out.
00:24:06.000 Let's do that, right?
00:24:10.000 Let's do 20, 23. 0.71
00:24:15.000 All right.
00:24:22.000 Let's see.
00:24:24.000 This isn't bad, but the thing is, this is giving me a number that's that's what the price should be.
00:24:29.000 But dealerships were adding on massive add-ons to these cars.
00:24:35.000 So keeping it real, these were probably like around like 70, 80.
00:24:38.000 Just keeping it by boundary, guys, right?
00:24:40.000 Because remember, you couldn't get these cars anywhere.
00:24:43.000 Look at this one right here.
00:24:44.000 It's around 80K already.
00:24:45.000 So yeah, so either way, it was around 80k, right?
00:24:49.000 So now, look at the price of, like, let's say this one that's pretty new compared to this one here.
00:24:56.000 It's been driven a little bit.
00:24:57.000 You're going to lose money no matter what.
00:24:59.000 But exiting the car, you can see from this price here of this Corvette, which is around 80K, which is what it was going for back then, brand new.
00:25:08.000 Look over here, you got this price for 61K.
00:25:13.000 So you can kind of estimate what you're going to lose on a car over a period of time.
00:25:17.000 So look back like two years from before, but sometimes it's hard to guess because it can drop really, really hard versus like a small amount.
00:25:24.000 But either way, the point is, you're going to lose money on these cars.
00:25:26.000 That's the whole point here.
00:25:27.000 This is a basic understanding of what's happening with the car market. 0.98
00:25:30.000 But just so you understand, guys, you buy a car, hopefully you don't buy brand new because that's really dumb.
00:25:35.000 Online, like allocation for the car, that's like a limited spec, like a Perfamonte or something like that, which is Lamborghini, then that's kind of fine.
00:25:42.000 But allocating certain cars like this, bro, they're going to drop a value for sure.
00:25:46.000 But at the same time, you can see how much money you lose, which is like around 30K for this car.
00:25:53.000 Now, here's the issue.
00:25:54.000 Some people obviously lose their jobs.
00:25:57.000 Things happen, and you can't always, You know, adjust for things happening.
00:26:03.000 So, what happens is repos are at an all-time high nowadays, guys.
00:26:07.000 And it's crazy because the numbers are increasing daily.
00:26:10.000 So, look at these numbers here from the actual website, which is payments.com.
00:26:15.000 It says here: car repos hit levels unseen since 2008 finance crisis.
00:26:20.000 This is why I say, guys, buying cars right now is not really smart because what's going to happen now is that like all the rates are really high.
00:26:27.000 And let's say you want to get out of this car, exit is going to be trash.
00:26:30.000 So, you got high interest rates, massive payments, and then getting out of the car is the worst part.
00:26:35.000 Because remember, you still got to pay for the car every month.
00:26:38.000 And then to exit the car, whatever the negative equity is in that car, you got to pay off.
00:26:42.000 So, let's say this car, so for example, let's say this Corvette, right?
00:26:47.000 You got for 80K. 0.99
00:26:49.000 Drive it for two years, you with your boys having fun racing, all that shit. 0.99
00:26:52.000 Cool. 0.96
00:26:53.000 But then, you know, tough times hit, you got to sell the car, right?
00:26:57.000 But the car is now valued at like $50,000.
00:27:02.000 But let's say you owe like, let's say you owe $61,000, right?
00:27:07.000 So you owe $10K on this car in negative equity.
00:27:10.000 That's just being generous.
00:27:11.000 Sorry, being nice.
00:27:13.000 So now you got to pay $10K to get out of the car after paying a down payment and then all the installments on the car.
00:27:19.000 So let's do some math here, right?
00:27:21.000 Let's just use this because the calculator is right here.
00:27:24.000 Let's say we bought this car.
00:27:25.000 Can you use this one?
00:27:27.000 Is the calculator on this one?
00:27:29.000 No, it's not.
00:27:30.000 So we'll use this one for now, right?
00:27:32.000 So let's say we go back to this Corvette here, right?
00:27:34.000 Calculator.
00:27:35.000 So your payment is going to be around like $1,200 for this Corvette, right?
00:27:39.000 $1,200 for this Corvette.
00:27:41.000 $1,200 by 2.
00:27:43.000 Sorry, by $1,200, right?
00:27:46.000 What's this map here?
00:27:48.000 It's $1,400 by 2 for two years.
00:27:52.000 It's $28,000.
00:27:54.000 So you're spending on this car, $20,000, and that does not include actual insurance or issues or any incidentals coming to the car, right?
00:28:03.000 Accidents, repairs, oil services, oil changes.
00:28:08.000 So you spent $28,000, basically, for two years on a car.
00:28:13.000 Just payments alone, right?
00:28:14.000 Which is this payment right here.
00:28:17.000 Boom.
00:28:18.000 Now, to get out the car and get scar-free and get back to zero, you got to spend another $10K.
00:28:26.000 So you spent a total of $40,000 on this Corvette.
00:28:31.000 And when you sell the car, you have nothing to show for it.
00:28:36.000 So imagine that.
00:28:37.000 You just spent $40K on this car.
00:28:41.000 And now you need to get rid of it for whatever reason.
00:28:44.000 And now you're out $40K and no car.
00:28:47.000 You see how messed up this could be, guys?
00:28:49.000 And this is why, like, they say in America, cars are the biggest wealth killer for most Americans.
00:28:55.000 And it's because, obviously, we like nice cars.
00:28:57.000 We like nice things.
00:28:59.000 But how the system is built, if you don't do it correctly, man, you're going to get fleece all day, bro.
00:29:05.000 And this is where I tell people, listen, if you got kids, you're building towards the future, building up wealth.
00:29:12.000 Don't worry about cars, man.
00:29:13.000 Trust me, I did it, fellas.
00:29:14.000 I can tell you this right now.
00:29:16.000 I would have saved a lot more money if I was smarter.
00:29:18.000 And I did save some good money.
00:29:19.000 I got some gold, got some Bitcoin, got some real estate, so I'm good.
00:29:22.000 But I would hide way more if I was smarter with using my money with cars.
00:29:27.000 Now, mind you, I made some connections now where I'm way better off.
00:29:30.000 But for you guys watching that, actually could lose everything if you do this the wrong way.
00:29:35.000 Dude, 40k is nothing to sneak at.
00:29:36.000 And if you're working your ass off, bro, going to work every day, working a job, just do the math.
00:29:41.000 Look at your car payments every month and then multiply that by 12.
00:29:45.000 Bro, that's what you're paying for your car.
00:29:47.000 And let's say it's a nice ass car.
00:29:49.000 If you want to exit, I guarantee you have a negative equity.
00:29:52.000 This means you're going to have to pay a bunch of money to get out of the car plus what you pay for the car in the first place.
00:29:57.000 So all in all, man, it is a nice car, but, you know, comes with a lot of issues.
00:30:03.000 So we'll do some reactions to these videos here.
00:30:05.000 I want you guys to see because this is very telling what's happening in the marketplace.
00:30:08.000 And buying a car now is not a good idea because the market is down.
00:30:11.000 Sorry, the market is actually up in interest rates, but down in selling.
00:30:16.000 Because when you sell cars nowadays, guys, you're selling at loss if you can.
00:30:19.000 And also, but you're getting at a high rate.
00:30:21.000 So here we go.
00:30:22.000 This is our boy Zach Rios.
00:30:26.000 This is channel.
00:30:27.000 Why are so many cars getting repossessed in 25?
00:30:30.000 All right, let's go ahead.
00:30:32.000 Repossession.
00:30:33.000 Guys, real quick, if you don't mind, support me here on Kick as well.
00:30:37.000 I'm going to be adding some.
00:30:39.000 Let me add a sub in here real quick. 1.00
00:30:41.000 You guys are watching on Kick real quick.
00:30:46.000 Try to get that kick number up.
00:30:48.000 Let's see.
00:30:51.000 Of course, we'll be doing more stuff on there as well.
00:30:53.000 Thing is, when I have Zerka on, I can't have him on here because he's banned.
00:30:57.000 So that's the only thing.
00:31:00.000 But when I do the streaming with the girls and gets like lit, we'll add them in there as well.
00:31:06.000 So let's give some subs to y'all in here who are in there on kick. 1.00
00:31:10.000 And the link is actually here if you guys don't mind supporting your boy on kick as well.
00:31:14.000 Goal 500, man.
00:31:15.000 We're going to make that happen for sure.
00:31:18.000 Streaming non-stop.
00:31:19.000 All right, cool.
00:31:20.000 And then, can I put it over here?
00:31:23.000 What's it, guys?
00:31:24.000 Put it right here.
00:31:27.000 Boom.
00:31:28.000 And then I'll put it on YouTube as well.
00:31:30.000 But yeah, overall, guys, like the car market is not in a good spot right now.
00:31:36.000 I got friends that own like Repo Lots as well.
00:31:38.000 And their actual lot is full, yo.
00:31:41.000 Like mad full.
00:31:42.000 Spot right now.
00:31:43.000 So that's the scary part.
00:31:46.000 Very scary.
00:31:48.000 Guys, comment below if you lost money on a car as well.
00:31:51.000 If it happened to you, man, because, I mean, nobody's safe, bro.
00:31:54.000 So.
00:31:59.000 I can't imagine thinking about a new G-Wagon having time for YouTube fresh.
00:32:02.000 Yeah, bro.
00:32:03.000 I mean, you know, G-Wagons are nice, but at the same time, bro, you got to understand, like, bro.
00:32:10.000 G-Wagons are not.
00:32:13.000 G-Wagons are not easy to maintain because of gas, because of, well, repairs are not bad, but gas, oh, man, bro.
00:32:21.000 Like, you got to refill your tank every other, like, couple days, bro.
00:32:26.000 So, that's the thing with having a G-Wagon.
00:32:30.000 It's nice, though.
00:32:31.000 It's really nice.
00:32:32.000 It's like being gangster, but classy at the same time.
00:32:35.000 That's, like, cool.
00:32:36.000 The Rolls Voice is kind of OD because it's like, bro, like, you're doing too much.
00:32:39.000 But G-Wagon's cool.
00:32:41.000 Anyhow, let's go back to the video.
00:32:44.000 Here we go.
00:32:45.000 Oh, I need to get some subs real quick. 1.00
00:32:49.000 I got you guys on subs.
00:32:50.000 One second here.
00:32:54.000 Here we go.
00:32:56.000 Boom.
00:32:57.000 Subs gifted.
00:32:58.000 On kick.
00:33:00.000 You should get no ads as well.
00:33:02.000 Alright, here we go.
00:33:05.000 As far as your eyes can see.
00:33:08.000 Got it, got it!
00:33:11.000 Got it!
00:33:12.000 You'll see I got the repo man following me.
00:33:14.000 Let's see how far he can chase me.
00:33:17.000 So we're getting to that time of the year where car repossessions are at its peak, along with them being at the highest.
00:33:22.000 So that's people having their reactions to being repoed, how they react. 1.00
00:33:26.000 And this is some nigga shit, bro. 1.00
00:33:27.000 for a row levels in general in the past 15 years since the 08 financial crisis, which I don't have to tell you is definitely not a good, by the, I've never had one repossession, never one late payment, never one issue with my bank or my lenders. 0.99
00:33:45.000 I've paid everything off because to me, a word is my bond. 0.93
00:33:49.000 And if I put myself on a line for a car, I'm getting rid of that shit and I'm paying off in full. 0.96
00:33:53.000 If not, then my credit score would be terrible. 0.96
00:33:56.000 My credit score was 850 at one point. 0.98
00:33:58.000 Fucking maximum score you can have. 0.94
00:34:00.000 I was around like 820 because I got property on there now. 0.99
00:34:03.000 I need to get off.
00:34:04.000 But once it's off of there, it'll go back up.
00:34:07.000 And yeah, man, never missed a payment.
00:34:10.000 Never actually missed any bank notations, anything.
00:34:15.000 I paid everything off.
00:34:16.000 And that's why if I make a phone call today, hey, I need a loan for this or a loan for that.
00:34:20.000 I can get a car like that for nothing down or little down.
00:34:23.000 So not bad at all.
00:34:24.000 Here we go.
00:34:25.000 Good sign, but I thought it would be interesting to take a look at what's happening right now.
00:34:28.000 The types of vehicles being repoed, the types of lenders, the interest rates, the prices, everything that goes into it.
00:34:34.000 We also have some comments from you guys from previous videos.
00:34:36.000 So if you want to be featured on a future video, leave a little bit.
00:34:41.000 Look at this.
00:34:41.000 All these are.
00:34:42.000 So I want to do a video with Yusuf, man.
00:34:44.000 He's been killing it with car videos and very insightful.
00:34:47.000 He gives real advice on how to buy cars, how not to get finesse.
00:34:50.000 And people go to him all the time because either they bought a lot of cars for Turo, it didn't work out. 0.95
00:34:54.000 And then they're like, damn, like, how do I get out of these cars? 0.99
00:34:56.000 And he's like, bro, negative equity is a motherfucker because it'll mess you up for sure. 0.98
00:35:01.000 Because once that equity is there as negative, you got paid off to get out of the car. 0.94
00:35:06.000 That's the only way you can do it, guys.
00:35:08.000 So you got a car, you didn't pay off, and there's a negative equity in there, you want to get rid of it, you got to pay it off, fellas.
00:35:15.000 Unless someone takes over your loan, but that's highly unlikely a bank will do that for you on the fly.
00:35:19.000 So there are bank repossessions.
00:35:23.000 As far.
00:35:24.000 Savvy says, I just paid off a car that brought on on me and I'm in the market now.
00:35:27.000 Yeah, bro. 0.81
00:35:28.000 I mean, listen, if you're a responsible investor, a financial, what's there for your finances and you're good with your credit score, your shit's paid off, then you buying a car is not the worst thing if you're obviously smart with your money.
00:35:41.000 However, you need to buy it the right way and I'll get finessed because, guys, car dealerships, man, this is a little secret here.
00:35:48.000 They make money off of doing loans, right?
00:35:51.000 The cars itself, maybe a couple grand, maybe a little bit there, but the bang of their buck is made from you getting a loan with them, either a lease or finance.
00:35:59.000 That's how they make their money, bro. 0.99
00:36:00.000 You're paying cash, they're like, fuck, this gun got cash, bro. 1.00
00:36:03.000 Man, get him out of here. 1.00
00:36:05.000 You got a loan?
00:36:06.000 Oh, we love you, bro.
00:36:07.000 Come over here, bro.
00:36:08.000 You need a lower car payment?
00:36:09.000 We got you, brother.
00:36:10.000 Don't worry.
00:36:11.000 It was at this moment.
00:36:12.000 Don't worry.
00:36:14.000 We got you.
00:36:14.000 We'll give you a lower car payment.
00:36:16.000 Don't worry.
00:36:17.000 You want 500 instead of 700?
00:36:18.000 We got you, brother.
00:36:19.000 Just sign right here.
00:36:21.000 Don't get you, man.
00:36:23.000 As your eyes can see, all of these are a manifestation of bad financial decisions, over-leveraging credit and budget.
00:36:30.000 And unfortunately, it ends up in a lot like this, where it's going to be sold at auction, cycled back into the car market at a fraction of the cost.
00:36:36.000 So you know what people are very smart?
00:36:39.000 They go to auctions and they buy the cars that are repossessed on like pretty much like pennies on the dollar. 0.99
00:36:46.000 Because they get into the car after depreciation and after it's been sold to the bank, which means the bank has said, fuck this shit, get these cars out of my way. 0.99
00:36:54.000 Just somebody take the car from me. 0.99
00:36:55.000 We don't want this liability.
00:36:57.000 And that's where you, as a smart investor, can say, okay, if I get my auction license, I can go buy a car for pennies on the dollar, basically.
00:37:06.000 And I get the same car people had, but hey, I get a year or two later.
00:37:10.000 It looks the exact same, but I get it for half the money price of the car or even less.
00:37:15.000 So I think it's not a bad idea to go to auctions because, or know somebody that's there, because if you can get this plug here, guys, you can get cars for a way cheaper price.
00:37:22.000 And it's still the same car.
00:37:24.000 So, you know?
00:37:26.000 2025 Toyota Camry repo.
00:37:29.000 Suburbans, Audis, Toyotas, Ram 3500s, Jeeps, another bunch of luxury cars.
00:37:40.000 2024 Kia Telluride with only 16,000 miles repoed.
00:37:46.000 Dealer charged $3,000 for a thorough inspection and reconditioning fee and $1,000 for interior protection, which is an additional $4,000 on an already inflated MSRP of $47,380.
00:38:00.000 On a car like this, I guarantee you.
00:38:03.000 So they're adding actual random isomizations onto your car bill.
00:38:12.000 So the car is worth $47,000. 0.98
00:38:14.000 He just said they basically added on $4K to the car for random shit. 0.88
00:38:20.000 Yo, guys, yo, yo, this is like higher robbery at the highest level, but because they have a monopoly or they're probably the only ones in that city or that state doing car deals like this, or you can't get approved, they can work the numbers. 0.97
00:38:34.000 And then before you know it, they got you, bro.
00:38:36.000 So guys, be careful, man, buying cars because if you're not careful, it can mess you up really bad.
00:38:40.000 The doors are right around $60,000.
00:38:42.000 If you had decent credit, you know what you should do?
00:38:45.000 Before you even buy one of these cars, man, have like six months of the car payment in your account.
00:38:50.000 I know it's crazy, but like, bro, like, you never know what could happen, guys.
00:38:54.000 And having a repo on your record is disgusting. 0.96
00:38:57.000 That's like a poop stain on your shirt, bro. 1.00
00:39:00.000 You don't want that shit anywhere near your credit score, bro. 1.00
00:39:03.000 I mean, you can wipe it off, of course, but like it's not as easy as it seems. 0.99
00:39:08.000 Because the thing is, the banks, even though you might wipe it off your credit history, they see the record from other banks.
00:39:13.000 For example, let's take a repo at Chase Bank or American, well, not American, but so Chase Bank, TD Bank, or Wells Fargo, right?
00:39:23.000 Even though it's off my record, they still have a record of you getting a repo from them.
00:39:27.000 And banks call around.
00:39:28.000 They say, okay, what about this guy, this guy?
00:39:30.000 And they'll do like an auto check.
00:39:32.000 And if it flags up as you had a repo, even if it's off your credit history, it's still with the bank.
00:39:38.000 So, I mean, be careful, guys.
00:39:41.000 13 to 15% interest loan.
00:39:43.000 A car like this would be easily over $1,000.
00:39:45.000 And don't even forget your car insurance.
00:39:47.000 Imagine paying over a sticker and a 15% interest rate for a Kia.
00:39:52.000 Like you said, over $1,000.
00:39:54.000 I met a girl I used to work with at AT ⁇ T, right?
00:39:57.000 And she bought a brand new Kia.
00:39:59.000 She's like, look at me.
00:40:00.000 I'm working hard.
00:40:01.000 I got a brand new Kia.
00:40:02.000 My car is nice.
00:40:04.000 Mind you, I'm not really a good.
00:40:05.000 Obviously, I'm a car guy to exotic cars, but not to late.
00:40:08.000 I'm like, Kia, bro, that's an L, bro. 0.99
00:40:10.000 Like, yo.
00:40:11.000 Nobody cares about your Kia.
00:40:13.000 Anyhow, she's talking out of town.
00:40:15.000 Everyone's like, she bought a brand new car.
00:40:17.000 But you know what happened?
00:40:18.000 Six months down the line?
00:40:20.000 I kid you not.
00:40:21.000 She had a kid, of course.
00:40:23.000 She had a kid.
00:40:25.000 And I guess it's just happening with baby daddy, whatever.
00:40:28.000 And you stop helping them with money.
00:40:30.000 And they couldn't afford the car anymore.
00:40:31.000 Whoop-dee-doo. 0.97
00:40:33.000 And then she lost that car.
00:40:34.000 And she'd have to Uber to work every day because her actual repo on the car, man, they repoed her at work. 0.94
00:40:40.000 So we all saw it was hilarious.
00:40:42.000 Well, not to me, but like, you know, to everybody else.
00:40:44.000 And, you know, it got repoed at work.
00:40:47.000 And she'd have to Uber to work every day.
00:40:49.000 And she's still paying the car off as we speak.
00:40:52.000 Which is why I'm like, guys, like, you got to stand up, man.
00:40:53.000 Like, because if you don't pay the car, they're going to sue you.
00:40:56.000 And they're going to garnish your wages. 0.64
00:40:58.000 So imagine this.
00:40:59.000 Think about this.
00:41:00.000 You get the car of your dreams, right?
00:41:02.000 Driving the car. 1.00
00:41:03.000 Things, shit hits the fan. 1.00
00:41:05.000 You can't afford a car anymore. 1.00
00:41:07.000 Well, you're like, screw it.
00:41:09.000 I'm going to just hide the car in my garage.
00:41:10.000 Hopefully they don't find it.
00:41:12.000 You go on a date to Coldstone one random Sunday.
00:41:15.000 You're like popping off.
00:41:16.000 Like, look at this beauty, man.
00:41:17.000 Look at my car.
00:41:18.000 Like this hoe? 1.00
00:41:19.000 She's like, oh, this car's sexy, daddy.
00:41:22.000 You're like, yeah, it is.
00:41:24.000 You turn around, go pay the bill.
00:41:26.000 They pull over real quick, grab the car, and it's gone.
00:41:30.000 Where's my car?
00:41:32.000 Repo, bro.
00:41:33.000 Listen, I'm just saying this happens, guys.
00:41:34.000 And it's brutal, but it's the truth.
00:41:36.000 And the reality is, guys, like, when this happens to you, it's shameful, bro.
00:41:41.000 Yo, I know some YouTubers, bro, that think they're slick, but I've seen, because I know dealerships and I'm cool with some people, and I see some of their, like, auto history, like, inspections and all this stuff.
00:41:54.000 And I see, like, oh, wait, Repo here? 0.98
00:41:56.000 What the fuck? 1.00
00:41:56.000 Niggas over... 1.00
00:42:00.000 Okay, listen. 0.99
00:42:00.000 I did it too, but I didn't do it that dumb. 0.99
00:42:02.000 These niggas went nigga level times a thousand. 1.00
00:42:06.000 And look, look at my stuff for it. 0.99
00:42:10.000 Look, I am mad, bro.
00:42:11.000 I mean, I get it, but you know, hopefully that's not going to be you guys watching, okay?
00:42:18.000 Hopefully.
00:42:20.000 We got a chat here from So Boosted.
00:42:24.000 We can see you, Dart, nigga. 1.00
00:42:25.000 Shout out to you. 0.94
00:42:25.000 Thank you, brother. 0.94
00:42:26.000 On LocalZero.
00:42:28.000 Shout out to you, bro.
00:42:29.000 Appreciate that, man.
00:42:32.000 I'm telling you, bro.
00:42:33.000 McFly says credit unions are the best for car loans.
00:42:35.000 I agree, bro.
00:42:36.000 If you can get a credit union to give you a loan before you can go to the dealership, even better.
00:42:40.000 You go either look at the car, you give them the VIN number, you give them the price of the car, and they can give you a loan approval right there on the spot, credit union, before you go into the dealership.
00:42:48.000 So you can say, hey, dealership, I got my own loan.
00:42:50.000 Can I get a car now?
00:42:52.000 Way better off.
00:42:53.000 All right, let's continue.
00:42:55.000 Dollars a month.
00:42:56.000 So no wonder why you see videos like this with just a sea of vehicles that are all repoed.
00:43:01.000 Some of the comments repoed to be resold and repoed again.
00:43:04.000 If you saw my buy here, pay here video that I made a few months ago on this channel.
00:43:08.000 A good amount of those vehicles' purposes are specifically for that.
00:43:12.000 The dealerships know that the customers are barely going to make the payments, maybe a couple months.
00:43:16.000 Yeah, bro.
00:43:16.000 These people know, fellas, like, okay, the luckily that you pay your car off is slim to none.
00:43:22.000 Most people don't pay their car off ever.
00:43:24.000 And if they do, it's an older car like a Toyota Honda that they've driven for years and it's not a brand new car.
00:43:29.000 So when you buy the car from the dealership, they're counting on you not to pay.
00:43:33.000 They're like, you know what?
00:43:34.000 This guy has a credit score of $450, $500.
00:43:40.000 We'll give you the car.
00:43:41.000 And they say, we got him.
00:43:43.000 You drive the car home, you're relaxing, you're chilling, you're having fun.
00:43:46.000 Four months down the line, you can't make the payment.
00:43:48.000 They can pick it up and sell it again.
00:43:50.000 And that's the game right there, fellas.
00:43:51.000 That's how they get people stuck in these spots because you buy the car you can't afford.
00:43:56.000 Your credit score is too low.
00:43:57.000 The rates are terrible.
00:43:58.000 You buy the car.
00:44:00.000 They say, sure, Mr. Braun, Brown, you can have this car.
00:44:03.000 We got you.
00:44:03.000 You want a Dodge Charger?
00:44:04.000 Hellcat?
00:44:05.000 Take it.
00:44:06.000 So you buy the car.
00:44:07.000 You're four months later, five months later, they repo it onto that sky and rinse and repeat that cycle.
00:44:15.000 That's all they do, fellas.
00:44:16.000 And once they get you laid out, bro, you're cooked.
00:44:18.000 Because now getting a car is going to be almost impossible.
00:44:20.000 Which is why people like, I'll put it in my car's name or put it in my mom's name. 1.00
00:44:24.000 Of course, because your shit's terrible, bro. 1.00
00:44:25.000 Your credit score is done. 1.00
00:44:27.000 And it's not responsible, fellas, at all.
00:44:30.000 Months?
00:44:30.000 They'll repo the car and resell it again over and over and over.
00:44:33.000 Some of the car faxes had double-digit owners.
00:44:37.000 Yeah, I saw your super chat, brother.
00:44:38.000 Give me one second here. 1.00
00:44:40.000 Bills, how to read this shit, bro? 1.00
00:44:44.000 Oh, wait, wait, hold on. 1.00
00:44:44.000 I got a refresher, do I? 1.00
00:44:48.000 One sec.
00:44:49.000 I appreciate that, man.
00:44:50.000 How do I see the super chat just came in?
00:44:56.000 Sorry, I'm luring here, guys, as we speak.
00:45:01.000 All right, cool.
00:45:02.000 Here we go.
00:45:04.000 That were all repossessions.
00:45:06.000 Temporary tags and already repoed.
00:45:08.000 Saw a Facebook post that said, I have 350 credit scores.
00:45:12.000 What kind of car could I get?
00:45:13.000 And someone replied, a bicycle.
00:45:15.000 Well, we are going to see a little bit later people having some really rough credit scores with repossessions in their history, and they still end up going to a dealership.
00:45:22.000 But we have a comment from one of you guys.
00:45:24.000 There's a custodian, the hospital.
00:45:26.000 Let's get this part here real quick.
00:45:28.000 There you go.
00:45:29.000 Crazy to me.
00:45:29.000 So I want you to check this line behind me right here.
00:45:31.000 Majority of these vehicles that are behind me are actually repossessed vehicles.
00:45:35.000 And we're seeing more rights.
00:45:37.000 So this guy talking right now on a camera, he goes around to different lots and looks at all the cars that are there parked for repos.
00:45:45.000 And you see every kind of car, fellas.
00:45:48.000 You see the best of the best, the worst of worst.
00:45:51.000 And it's people trying to hide from these repo men.
00:45:55.000 And what they do to avoid getting repossessed is insane.
00:45:59.000 Especially women. 1.00
00:46:00.000 They're not carnable at all.
00:46:01.000 They'll literally like do the worst to keep their car and then even offer pusky, bro. 0.98
00:46:07.000 She's crazy. 0.60
00:46:09.000 Now, during this time of year, then we usually see, even with the record rates of repossessions, the record rates of auto loan delinquencies that are experiencing right now, they have even jumped over the last little time period.
00:46:20.000 And I'll tell you why, because we are actually in the peak right now.
00:46:24.000 Let me just mod people real quick on kick.
00:46:26.000 One second here.
00:46:28.000 How do I mod you, brother?
00:46:30.000 Let's see.
00:46:30.000 Boom.
00:46:34.000 How can I mod you?
00:46:38.000 One second here.
00:46:42.000 How do I mod you, brother?
00:46:47.000 What's up to you, man?
00:46:48.000 Appreciate you.
00:46:52.000 I'm I'm a mirror bro.
00:46:54.000 I don't module.
00:46:59.000 One second here.
00:47:00.000 Put a module on here.
00:47:05.000 Should pop up.
00:47:06.000 Should pop up.
00:47:07.000 I don't one second here.
00:47:13.000 Oh, yep.
00:47:14.000 Bill's calling me.
00:47:19.000 One second.
00:47:20.000 I got you, bro.
00:47:25.000 Yo, how did I want somebody on Kik?
00:47:32.000 Yo, let's say, bro.
00:47:36.000 I just did that.
00:47:37.000 Actually, you gotta go in your settings. 1.00
00:47:39.000 Oh, fuck. 1.00
00:47:39.000 I did do that shit earlier today. 1.00
00:47:41.000 I added a model. 0.97
00:47:42.000 Okay, so it's probably one of your tabs, honestly.
00:47:44.000 Go to your cake.
00:47:46.000 All my tabs?
00:47:48.000 Okay.
00:47:49.000 Yo, we do it live, fellas.
00:47:50.000 We'll do it live.
00:47:50.000 Hold on.
00:47:53.000 All right, let me see that screen.
00:47:54.000 All right, so we go to the top right.
00:48:00.000 Okay.
00:48:00.000 Okay.
00:48:01.000 Click that.
00:48:03.000 Create a dashboard.
00:48:06.000 Exactly.
00:48:07.000 Second.
00:48:08.000 Second, cool.
00:48:09.000 Yeah, go to second. 0.78
00:48:11.000 You need this?
00:48:28.000 Gotcha.
00:48:31.000 Do it live.
00:48:32.000 Okay.
00:48:42.000 Settings?
00:48:43.000 Yeah, you can see.
00:48:45.000 Yeah, yeah, it's over here.
00:48:46.000 It's right here.
00:48:46.000 This is rules?
00:48:49.000 Yeah.
00:48:51.000 Okay, awesome.
00:48:52.000 And I just type it in.
00:48:55.000 How do I react to that?
00:48:58.000 Okay.
00:49:00.000 Show me the OBL screen.
00:49:03.000 Okay.
00:49:08.000 Okay, so like that left side right there.
00:49:11.000 Right next to your, yeah, that should show you the super chat.
00:49:13.000 Is that not the last super chat?
00:49:14.000 How do we refresh?
00:49:17.000 It's not refreshed.
00:49:18.000 I think that's the last one.
00:49:20.000 I just saw one come in.
00:49:22.000 Okay, go to uh X click that X button.
00:49:29.000 Go to docks at the top, all be honest.
00:49:34.000 Uh go to it should say go all the way to the bottom and say super chat.
00:49:41.000 Gotcha.
00:49:47.000 Oh, it's it's it's on F oh it's on FNF.
00:49:50.000 That's why they gotta do it on the first time.tv I gotta I gotta try and get that super chat for you though.
00:50:01.000 I gotta log in to see it though.
00:50:03.000 I appreciate it.
00:50:04.000 If you can that'd be dope Yeah, I gotta say don't log in to see it though.
00:50:09.000 Alright bet bro yeah continue on keep doing what you're going.
00:50:11.000 Thanks man cool all right Shea you should be in there as a mod brother appreciate it bro Donna Marco for Shea man When I was on Twitch going crazy in the streets in San Fran and Miami he was supporting as well yo yo yo Twitch we were live We were getting lit on Twitch, bro Like we were getting lit on Twitch about to pop off man and we got banned bro, but whatever it's all good bro But sub goal guys is 500 man.
00:50:41.000 We're at five right now.
00:50:41.000 I don't know why it's not updating, but let's continue.
00:50:45.000 Of repo season.
00:50:48.000 Yes, there is a repo season.
00:50:50.000 What happens?
00:50:51.000 Well, people go with their tax checks, their money from the government, and, well, it's their money.
00:50:56.000 The government gets to hold it, and then they.
00:50:57.000 Guys, real quick.
00:50:59.000 Imagine this, right?
00:50:59.000 Or think about this.
00:51:00.000 Your payments every month are divided into three main sections.
00:51:05.000 Your house, your car, and miscellaneous where you have your bills, right?
00:51:09.000 For the most part.
00:51:10.000 And your big expense is probably your rent, but after that, your car.
00:51:14.000 And because of that, your car, like, being debt-free is the best feeling ever.
00:51:19.000 Like, having credit cards is cool.
00:51:22.000 Having that stuff is cool.
00:51:24.000 Having cars is cool.
00:51:24.000 Living in a nice spot is cool.
00:51:26.000 But being debt-free is a feeling you can't replace.
00:51:29.000 So, I get questions all the time.
00:51:32.000 Fresh, should I buy a car?
00:51:33.000 No, what should I buy?
00:51:34.000 And I'm more like, bro, just look at it from the standpoint of, do you want to stress, bro?
00:51:41.000 i have a i've already hit the pinnacle i've already did everything you could you could you could think about it luxury regular cars i've had and it's like i'm gonna point out where i'm like yo does this actually give me peace of mind and financial freedom if not i don't want it bro like you're better off renting than getting into a deal with a lease or finance for a car that you can't maintain or don't want to maintain remember you need most loans are between four to six years minimum, right?
00:52:12.000 Which means like you got to pay that car for that amount of time.
00:52:14.000 And if you don't, you got to pay heavy interest the entire time and then pay it off with negative equity for the most part.
00:52:22.000 So just think about that before you go buy a car, man.
00:52:24.000 Because is it really worth your freedom?
00:52:27.000 Remember, you become a slave to the car.
00:52:29.000 That was me for a while, guys.
00:52:30.000 I was a slave to a lot of my cars where like I'll travel to like Europe and be with Andrew and them and Tate and their boys and I'm thinking about my car payments. 1.00
00:52:38.000 Fuck that, bro. 1.00
00:52:39.000 Like, dude, hell no. 1.00
00:52:40.000 Like, you should be free thinking, just having fun, enjoying the moments versus thinking about your car payment or your actual like bills at home, you know?
00:52:48.000 That's the best place to be.
00:52:49.000 They get their money back, their refund, around the same time of year, end of February, beginning of March.
00:52:55.000 They go and they drop it on a down payment for a car.
00:52:58.000 They drive it for about a month and then they stop making payments on it.
00:53:02.000 And that's what happens.
00:53:03.000 A lot of cars come and get repossessed right at the beginning of summer because people just stopped making payments on their new car that they thought they can actually afford when they could not.
00:53:13.000 So we also touched on this a little bit when I talked about the tax refund season.
00:53:18.000 People taking all the money that is rightfully theirs, the government just held on to it and ended up giving it back, but they would blow it on a down payment on a luxury car or go to Disney, vacations.
00:53:28.000 And then they're right back to square one, paycheck to paycheck, barely speaking.
00:53:31.000 Fellas, especially here in Miami, I've seen guys come to the scene and they legit have like a start in the marketplace.
00:53:40.000 They start making some money and they go buy the biggest car they can get, biggest setup they can get.
00:53:46.000 And then things go wrong and life is like up and down.
00:53:50.000 One minute you're up, one minute you're down.
00:53:52.000 It's never really like a flat line stable where everything is going good.
00:53:55.000 So when you have payments you got to maintain, it could really mess you up because you could be up one day, down the next day, and then you got to still make payments the entire time as a baseline.
00:54:07.000 So you're kind of like, you know, hoping and praying that nothing goes wrong, but things do go wrong.
00:54:12.000 It's Murphy's Law.
00:54:13.000 So, you know, Lamborghini, Ferrari, heaven, but, you know, payment hell.
00:54:22.000 Scraping by.
00:54:22.000 And I guess this is almost a yearly event.
00:54:25.000 Right around the summertime, you start seeing a lot more of those repos of the people who couldn't actually afford that Mercedes-Benz or luxury SUV, whatever they got.
00:54:32.000 And I mean, here's another clip right here, watching the car I bought with taxes get repoed because I couldn't afford it anymore.
00:54:38.000 If you could barely afford the down payment in the first place and the only reason you were able to was because you got your yearly tax refund, when you signed the contract showing the monthly payments, you had to know that you weren't going to afford it in the end.
00:54:51.000 Dealership's fun, but sometimes it's not.
00:54:53.000 We just had a repo this car from a customer.
00:54:55.000 They didn't make their first payment.
00:54:56.000 Bank issued a buyback, so we had to buy this car back.
00:54:59.000 We repoed it last night, but luckily we were able to recover it.
00:55:02.000 And let me show you guys the car and tell you a little bit more about the story.
00:55:05.000 So guys, it's been about 45 days since we sold this car.
00:55:07.000 They missed their first payment, so we had to repo the car.
00:55:10.000 The tires are pretty much fired.
00:55:12.000 How do you miss the first payment, bro? 1.00
00:55:14.000 You got to be a scumbag of scumbags, bro. 1.00
00:55:16.000 Like, real quick, if you put yourself online for a car payment, right? 1.00
00:55:23.000 For however long the period is, and you don't make the first payment, bro, you got to be a scumbag, bro. 0.99
00:55:29.000 I know there's a whole scam with doing that. 0.99
00:55:30.000 We can get the car and you don't make the first payment.
00:55:32.000 You just do it again. 1.00
00:55:33.000 But dude, that is some dirty shit, bro. 1.00
00:55:36.000 Like, who's doing that? 1.00
00:55:38.000 That's just crazy.
00:55:39.000 Here, and if you come around, here's the damage.
00:55:43.000 This car was sold 45 days ago.
00:55:46.000 It was in super mint condition.
00:55:47.000 And look at the condition of the vehicle right now.
00:55:49.000 This is a mismatched wheel.
00:55:50.000 I don't know what the other tire is.
00:55:51.000 Hopefully, it's in the trunk.
00:55:53.000 When people tell me, yo, Fresh, I want to start dealership.
00:55:56.000 I want to do car rentals.
00:55:57.000 I'm like, bro, you are signing up for headaches upon headaches upon headaches.
00:56:03.000 And then sometimes I'm like, you know what?
00:56:05.000 I understand why y'all niggas be like, well, dealerships be like, you know what? 1.00
00:56:08.000 Just give me your money, bro. 0.99
00:56:09.000 Because the shit that they do with on a day-to-day basis is incredible. 0.99
00:56:13.000 Like, issues, hits on cars, people finessing, fake bank statements. 1.00
00:56:19.000 It's like a world of trouble.
00:56:21.000 These people are in.
00:56:22.000 And then they want to get a car.
00:56:24.000 And yeah, it's never really like a smooth business.
00:56:28.000 It's always like ups and downs, like I said before.
00:56:30.000 And in cars, man, you never know.
00:56:33.000 But yeah, man.
00:56:34.000 So even though it was only $20,000, of course, it was still a Mercedes.
00:56:38.000 I believe it's the A220, but basically the cheapest Mercedes you could get.
00:56:42.000 And this person didn't even last two months.
00:56:45.000 Missed the first payment and destroyed the car.
00:56:47.000 We have another comment here.
00:56:48.000 I'm a cop in a large city and we have dudes rent rims. 1.00
00:56:52.000 We get calls where they'd walk out in the morning and their cars are on blocks because their rims got repoed.
00:56:57.000 I mean, that sounds absolutely insane to me, but we have another one.
00:57:00.000 One of the very high-class luxury vehicles getting repoed almost immediately.
00:57:05.000 Repossessions at the auction is insane.
00:57:07.000 This is wild.
00:57:09.000 This is a 2021 7 Series BMW, right?
00:57:12.000 It's only got 26,000 miles.
00:57:15.000 But look at the bank that repossessed it.
00:57:17.000 American credit acceptance.
00:57:19.000 That's like the low of the low 500 credit score.
00:57:23.000 You don't pay nobody, but you make some income, bank.
00:57:27.000 You couldn't afford the car.
00:57:28.000 Why'd you buy it?
00:57:30.000 So I just pulled the car facts.
00:57:32.000 They bought this in February on the 24th day.
00:57:35.000 Bruh, you ain't even had a car two months.
00:57:37.000 That means you missed your first payment.
00:57:39.000 Like, that's wild crazy.
00:57:41.000 It is wild.
00:57:42.000 Stop trying to impress the internet. 0.99
00:57:43.000 Nobody gives a shit what you drive. 0.99
00:57:46.000 Buy what you can afford. 0.98
00:57:47.000 Make it to work every day.
00:57:49.000 "Pick your kids up from soccer practice." So there are certain companies that Like, literally, they have unlimited budget.
00:58:01.000 And they don't have nice cars.
00:58:03.000 All they have is like a Toyota Tacoma, maybe like a Lexus if anything.
00:58:09.000 And they're super low-key.
00:58:10.000 You would never even know they got money.
00:58:12.000 But they live happy.
00:58:13.000 They're debt-free.
00:58:14.000 And that's why I want to be fellas.
00:58:16.000 Debt-free, enjoying life, good people, give you guys value, and really giving back.
00:58:21.000 Because I feel like I've hit the peak of everything, guys.
00:58:24.000 I've done it.
00:58:26.000 A man's dreams, I've lived it.
00:58:28.000 Bad chicks, you know, lifestyle, penthouse, cars. 1.00
00:58:33.000 It's fun, don't get me wrong, but like, it's not everything. 0.99
00:58:35.000 And after doing all that shit, it's like, okay, I lived the King Solomon lifestyle. 0.98
00:58:40.000 I've done it. 0.99
00:58:41.000 And it's it's a bro, it's not for most.
00:58:45.000 And most can't even do it.
00:58:46.000 And I recommend you don't do it because it can really mess you up. 0.99
00:58:49.000 Like, I got friends that are in this lifestyle and they start doing drugs, all that shit, and then they're screwed, bro. 1.00
00:58:54.000 They're screwed. 0.99
00:58:54.000 Like, some passed away because they got the overdose initially that. 0.99
00:58:58.000 And it's like, whoa, bro.
00:58:59.000 Like, you know what I'm saying?
00:59:00.000 So when people say, oh, I want to be a celebrity, I want to be famous and all this stuff.
00:59:04.000 And getting into the lifestyle, you may want to rethink that, you know, sometimes because there's not always glitz and glamour.
00:59:13.000 So, yeah.
00:59:15.000 I will basically accept anybody for a loan, but because credit acceptance is terrible, trying to impress my neighbor, I mean all of that kind of stuff.
00:59:22.000 And we have another comment from you guys.
00:59:23.000 Vehicles are the kryptonite of financial freedom.
00:59:26.000 Don't be caught in the web of auto hamster wheels.
00:59:29.000 Yes.
00:59:29.000 Vehicles are the kryptonite of financial freedom.
00:59:33.000 Guys, if I can go back in time and not buy so many at a time, I would.
00:59:40.000 Because even though it was a good experience, I built some history, some credit history. 0.97
00:59:46.000 I have paid off cars on my shit now. 0.96
00:59:48.000 I buy a lot of payoff cars. 0.99
00:59:50.000 It was cool, but I could have traveled.
00:59:54.000 I could have did way more stuff.
00:59:55.000 I could have bought more property, more Bitcoin, which I'm buying a lot right now as we speak.
01:00:01.000 You know, I could have done a lot more stuff.
01:00:03.000 But again, having car payments, fellas, don't do it, man.
01:00:09.000 If you can avoid it and just build your cash up, build yourself up, have a stable savings, do that instead because, bruh, having car payments is a L. Like, moving forward, I just got the new G-Wagon, of course.
01:00:24.000 I'm going to pay it off in full.
01:00:25.000 And then that's going to be, like, after that, yeah, I don't own anything any more cars.
01:00:32.000 Yeah.
01:00:34.000 Everything else is going to be paid off.
01:00:35.000 Yeah, yeah.
01:00:36.000 If I pay off my G-Wagon now, Bonito, that's on my goal list.
01:00:39.000 If you guys saw my goal list last time, I heard my goals down.
01:00:42.000 You go ahead and you actually go ahead and write all your goals down.
01:00:46.000 You can actually get this done.
01:00:47.000 And that's on my goal board to pay off my G-Wagon.
01:00:50.000 And at that point, I'll be pretty much that free of any major expenses.
01:00:54.000 Rent is covered basically because my business covers my rent.
01:00:58.000 So pretty much I have no payments at all other than business expenses.
01:01:04.000 And that's a write-off in itself.
01:01:05.000 So, I mean, there you go.
01:01:08.000 Only buy what you could pay for cash unless you have outrageous income, which most people do not have.
01:01:13.000 But the previous clip really said it perfectly.
01:01:15.000 Trying to flex for Instagram, the neighbors, your friends and family, because you see other random influencers or celebrities showing off their range rovers and G-Wagons in front of their big mansions.
01:01:25.000 Which, if we're talking about influencers, a good amount of time, that's just completely fake.
01:01:30.000 But it seems like everybody wants to keep up with the Joneses, make it look like they have more wealth than they do.
01:01:34.000 And unfortunately, that turns into getting repossessed.
01:01:37.000 Yeah.
01:01:38.000 I mean, honestly, guys, what you just said right there is important because looking at it from that point of view, people that have money are really not that flashy.
01:01:48.000 They're more low-key, more down-to-earth, more like hidden in shadows.
01:01:51.000 You don't see them that often.
01:01:53.000 And they're usually like shorts, like just slippers and a regular T. No crazy wash, no crazy like chain.
01:01:59.000 Just like they're simple, you know?
01:02:02.000 And I've met a few billionaires myself.
01:02:06.000 Actually, I'm cool with Twitter in Miami and a really cool friend of mine.
01:02:10.000 I want the Russian mobster. 1.00
01:02:12.000 And they're like, bro, they're so low-key. 0.64
01:02:15.000 We never know that they got money. 0.96
01:02:16.000 And I'm like, wow, I'm over here wearing these big ass chains back in the day. 0.99
01:02:20.000 I still watches and shit. 1.00
01:02:21.000 I mean, it's cool and it's fun sometimes, but like, they're like, yo, this is some monkey shit. 1.00
01:02:26.000 Literally. 0.99
01:02:27.000 And I'm like, bro, you're right.
01:02:28.000 Like, what am I doing this for?
01:02:29.000 You know?
01:02:30.000 And then I forget, I got banned on Instagram.
01:02:32.000 I got banned on Instagram a year and a half ago.
01:02:34.000 And I was like, okay, but on Instagram, bro, the marketing, what am I doing this for?
01:02:39.000 Like, because obviously you guys, you know, it's marketing. 0.94
01:02:41.000 People see the cards, the lifestyle, oh shit, like, they're popping up. 1.00
01:02:44.000 They're doing shit. 1.00
01:02:45.000 And we still are, but, you know, just a little bit more quiet now. 1.00
01:02:49.000 And I just feel like at some point, you know, you got to understand that, like, there's a game being played here.
01:02:56.000 And the top elites, the people that are top, are playing it very smart.
01:02:59.000 And I think it was Machiavelli that said, you don't want to show too much of your hand because then people can use it against you or plan to attack you.
01:03:06.000 So made a good point there.
01:03:08.000 Oh, man.
01:03:09.000 Are there a ton of crazy clips online when that happens?
01:03:17.000 So these are clips of people fighting the repo man, basically, for their car.
01:03:20.000 Crazy world, bro.
01:03:21.000 Crazy world, bro.
01:03:26.000 I'm going to keep my car here right now. 0.85
01:03:29.000 You're not.
01:03:29.000 It's going to come with me.
01:03:30.000 Okay, well, then I'm going with you.
01:03:31.000 You can't run on the car.
01:03:33.000 Yes, I will.
01:03:34.000 Oh, God, I will. 0.99
01:03:37.000 Yeah, what's up with our black queens, man? 0.99
01:03:39.000 Like, come on, man. 0.99
01:03:41.000 Come on, bro.
01:03:41.000 Got it!
01:03:50.000 What the fuck, bro? 1.00
01:03:53.000 That nigga reversed all the way back. 1.00
01:03:56.000 He said, hell, are you catching me today? 1.00
01:03:58.000 That's crazy, bro.
01:04:01.000 Paulipolo says, I can't drive a Toyota.
01:04:04.000 It makes me sad.
01:04:04.000 Yeah, bro.
01:04:05.000 I mean, listen, I'm not saying to always just have a regular car.
01:04:08.000 I'm saying you should get your dream car for sure, but you got to do it smart and do it right.
01:04:12.000 Like, doing it too early will mess you up, bro.
01:04:15.000 Because then you can't.
01:04:19.000 Because then you can't actually build wealth and move forward.
01:04:23.000 Yeah.
01:04:29.000 One sec.
01:04:35.000 One sec.
01:04:36.000 Yeah.
01:04:36.000 So, I mean, listen, you got to do it smart, fellas.
01:04:39.000 Go to Smart.
01:04:40.000 Go to Smart.
01:04:56.000 I'm going to get out of here.
01:04:58.000 I'm here so you know.
01:05:00.000 So yeah, if you want to look this up yourself, there are entire compilations, YouTube channels just showing the outrageous stuff that happens during these repos.
01:05:07.000 But of course, this is the internet and social media, and there's a whole bunch of people that just don't take it seriously at all.
01:05:13.000 My car's getting repoed immediately.
01:05:15.000 Bye.
01:05:17.000 Bye. 1.00
01:05:17.000 Fuck. 1.00
01:05:18.000 Y'all see I got the repo man following in. 1.00
01:05:23.000 Let's see how far he can trace me.
01:05:28.000 So real quick by the reaction to her disabling.
01:05:56.000 Yeah, but we can stop it here.
01:05:58.000 But this is the point, fellas.
01:06:00.000 Like, getting a car before you're ready for a car really mess you up.
01:06:04.000 And if you're a young man, but trying to build wealth and have a savings and actually move forward.
01:06:09.000 Like, I didn't buy a car until I bought my first property.
01:06:12.000 And it was making me money.
01:06:13.000 So basically, I bought a property back in 2020. 0.97
01:06:16.000 I wore my ass off for that property.
01:06:18.000 I put a full down payment down, closing costs, everything. 0.95
01:06:21.000 And I bought my Rangeover right after that because I wasn't paying any rent.
01:06:26.000 So I'm living in Triplex, right?
01:06:28.000 I live in one unit.
01:06:30.000 The other to a rent out.
01:06:31.000 I'm living rent-free because those two units pay for the mortgage and the insurance.
01:06:36.000 So now I'm living rent-free.
01:06:37.000 I'm like, all right, I could do a little splurge here now.
01:06:39.000 I could do a little fun stuff now.
01:06:40.000 I've got savings.
01:06:41.000 I've got a property and living for free.
01:06:43.000 And I got extra income that I could just like play with.
01:06:46.000 So then I got the car at that point.
01:06:47.000 Then it made sense.
01:06:48.000 But buying a car before that, before I bought a property, bro, I would have been cooked because now you can't even save towards your future, bro.
01:06:54.000 All the money's going towards your car.
01:06:56.000 And listen, back in the day, I was a JDM Square guy.
01:06:59.000 I would modify my cars to the max.
01:07:01.000 I had an EK-9 from Japan.
01:07:03.000 I ordered it in.
01:07:05.000 I had.
01:07:08.000 I had a Toad 11.
01:07:09.000 I had a bunch of cars that were imported from Japan.
01:07:12.000 And this is back in Barbados when I used to race.
01:07:16.000 And I would spend money on modeling those cars.
01:07:17.000 I'll modify the turbo.
01:07:19.000 I'll modify a bunch of stuff on cars. 0.99
01:07:21.000 And it was cool, but all the money I spent on that stuff was like, damn. 0.96
01:07:25.000 If I put it into myself or put it into a business or something that was important, it went way further. 0.75
01:07:31.000 Versus a car is kind of like a huge liability.
01:07:33.000 So looking back, wish I did better, but hey, it is what it is.
01:07:38.000 You guys learn from my mistakes.
01:07:39.000 So you don't make the same mistakes.
01:07:41.000 But the cars, man, it can mess you up for sure.
01:07:44.000 Thank God.
01:07:46.000 I have a great business.
01:07:47.000 I have a lot of good friends around me that show me the way.
01:07:50.000 And I've learned because I'm 32 now, fellas.
01:07:53.000 I've made some mistakes.
01:07:54.000 You guys know with the girls and you know, cars or whatever.
01:07:58.000 But I'm still here.
01:08:00.000 Still shining.
01:08:01.000 Still doing what I got to do.
01:08:02.000 Still working.
01:08:03.000 Still grinding.
01:08:03.000 So we ain't stopping, fellas.
01:08:06.000 But there's another video I want to show you guys with Grimstaffin.
01:08:09.000 It talks about the car market bubble just popped, which I believe it has been popped for a while.
01:08:15.000 But people are noticing it because they're seeing the repos and obviously the rates.
01:08:21.000 But I've been on it.
01:08:22.000 It's just popped.
01:08:23.000 This is why I sold a lot of my cars beforehand.
01:08:25.000 People are wondering, why is Fred selling his cars?
01:08:28.000 Is he going broke?
01:08:28.000 No, no, no, no, no.
01:08:30.000 I see where the market's going. 1.00
01:08:31.000 I say, fuck this shit. 1.00
01:08:32.000 I'm about to get out before we get swamps. 1.00
01:08:35.000 And I got out right in time because, yo, fellas, it's about to pop.
01:08:39.000 So here we go.
01:08:43.000 $745 a month.
01:08:46.000 And with interest.
01:08:47.000 So the average car payment is $745 a month.
01:08:52.000 That was the estimated car payment average for the first quarter of 25.
01:08:57.000 Guys, it has increased.
01:08:58.000 It is over $1,000 now.
01:09:01.000 So I'm telling y'all, man, I'm telling y'all, cars could be your rehearse, literally.
01:09:10.000 Getting $745 a month and with interest rates near their all-time highs, Americans are now officially beginning to fall behind in their payments.
01:09:18.000 This is why it's so important that we break down exactly why cars have become America's number one wealth killer, why used car prices are spiking again, and then what the data says is most likely going to happen over the next year.
01:09:30.000 Because there are three points that you need to be made aware of if you want to save a ton of money.
01:09:35.000 Although before we start, if you appreciate videos like this or even find them helpful, it would mean the world to me if you gave the like button a little Guys, yeah, you know what?
01:09:43.000 If you don't mind, like my videos as well, man,'cause Grandma's right, you should be liking videos.
01:09:47.000 So we won't cover all this video today, just a small part of it.
01:09:50.000 But this is a more shorter stream.
01:09:53.000 We'll finish soon as well.
01:09:55.000 But I want to encourage you guys not to buy anything right now. 0.98
01:10:02.000 And when this shit pops fully, which is popping right now, you can maneuver it in the right way. 0.97
01:10:10.000 Like here's the thing. 0.99
01:10:11.000 For the longest time, when you think about car prices, you'd imagine a chart like this.
01:10:16.000 In a normal market, a new car is expected to lose anywhere from 9% to 18% the moment you drive it off the lot.
01:10:22.000 And then from there, prices continue to fall by an additional 10 to 20% a year until after five years of ownership, you're left with about 40% of the price that you paid.
01:10:31.000 However, these last few years have completely messed that up.
01:10:35.000 Because of a shortage of auto manufacturing, a limited supply of parts, record low interest rates, and the surge of demand, used car prices began to defy the laws of gravity by going up in price.
01:10:46.000 For instance, in 2021, used car prices were 40% higher than the year prior.
01:10:51.000 Meaning back then, you could literally go and buy a car, drive it around for free, and then So Cam, that's a very good question.
01:10:57.000 When do you think is the best time for the car market?
01:11:00.000 So usually, right, what happens is dealerships are always fighting for the best price, of course, because that's how they made their money.
01:11:08.000 Well, loans now, but back in the day.
01:11:11.000 So now they don't want to concede in lower prices because the lower prices, then obviously you get a better deal, one, but two, they lose margins for sure.
01:11:21.000 So they're still upholding a high price for cars, which is why you can still see Corvettes going for, you know what, you know what's a good example?
01:11:29.000 There was a car that everyone wanted back in the day.
01:11:32.000 The doors go up.
01:11:33.000 Let's say someone in chat gets it.
01:11:35.000 Doors go up.
01:11:36.000 It's fast and it looks cool.
01:11:39.000 But that car took a huge nosedive in actual value.
01:11:48.000 And one of my favorite YouTubers back in the day, DDG, he bought one.
01:11:52.000 And man, he got cooked on that car, bro.
01:11:54.000 Anyone know what it is?
01:11:56.000 Doors go up.
01:11:57.000 Flashy.
01:11:58.000 Nice car.
01:12:01.000 Anybody?
01:12:03.000 Yep.
01:12:04.000 On kick, Good Reverb says, IA.
01:12:06.000 Don't DeMarco for good reverb.
01:12:09.000 You know what?
01:12:10.000 Because of you, good reverb and put him five more subs on kick. 1.00
01:12:13.000 There we go.
01:12:16.000 Guys, if you don't mind, sub to my channel on Kickman, Fresh Print CEO.
01:12:20.000 We're dropping some sauce in there, some IRL streams for some girls, and of course, some behind the scenes, some real value in there, man. 0.89
01:12:26.000 My Instagram is Secret Order Life.
01:12:27.000 If you need coaching, if you need anything to help with life itself, networking, dating, I got you, guys, man.
01:12:33.000 Connections.
01:12:33.000 So yeah, it is an I8.
01:12:36.000 So check this, right?
01:12:37.000 So I use I8, right?
01:12:38.000 Let's go to BNW.
01:12:40.000 We go to BNW, go to I8.
01:12:47.000 And guys, your favorite YouTuber, man, I'm helping them buy cars, by the way.
01:12:51.000 Just so you know.
01:12:52.000 And getting them deals too.
01:12:53.000 I just don't brag about it.
01:12:54.000 All right.
01:12:55.000 I8, right?
01:12:57.000 Man, you can get an I8 for 50 bands now, bruh.
01:13:05.000 Check this, right?
01:13:08.000 Price of new I8.
01:13:13.000 New BMW i8.
01:13:15.000 New BMW i8.
01:13:20.000 Let's see.
01:13:22.000 $147,000 was the price of a new i8.
01:13:33.000 Look at where it is now.
01:13:34.000 Brother.
01:13:35.000 Brother.
01:13:36.000 Cooked.
01:13:37.000 Yo, this is as bad as SF90 for niggas that got luxury, bro. 1.00
01:13:42.000 SF90s dropped so much in value.
01:13:44.000 I know a guy right now that's holding the bag, that's holding negative equity for a Ferrari F8, sorry, SF90, for 300K.
01:13:53.000 Bruh.
01:13:54.000 Cooked.
01:13:55.000 So that means to leave his car and exit his car successfully, he has to spend 300k to get out of his car.
01:14:02.000 Bro, cooked.
01:14:03.000 Like, like, dude, like, no return.
01:14:06.000 So, the point with this is that, like, you buy the wrong car, fellas, you're going to spend a year's paycheck or more getting out of that car if you can.
01:14:16.000 You know, the worst case scenario, fellas, is when you get a car, you can't get out of it.
01:14:20.000 Oh, man, that's tough.
01:14:22.000 Because now you got payment for a car you don't want anymore, and it's draining your wealth flip but surely.
01:14:27.000 And if you don't pay, guess what they're going to do? 0.97
01:14:28.000 They're going to sue your ass, garnish your wages from your paycheck, and then you're still cooked. 0.95
01:14:33.000 So before you make that mistake, fellas, listen to your boy, your boy Uncle Fresh here. 0.99
01:14:37.000 If you want to call me Uncle, whatever.
01:14:39.000 Don't do this, man.
01:14:40.000 This is financial suicide at its finest.
01:14:43.000 So don't do it, brother.
01:14:45.000 So from advice to me to you, younger brother, big brother, whatever you want to say, don't do it, man.
01:14:51.000 Don't do it, bro.
01:14:52.000 All right.
01:14:54.000 Sell it a few years later for a massive profit.
01:14:57.000 Not to mention, throughout 2022, it wasn't unusual for buyers to pay over sticker price just to get the car from the dealership.
01:15:04.000 And at the height of the shortage.
01:15:05.000 That's the point.
01:15:06.000 They were charging people over sticker price because they wanted a car, because the demand was there.
01:15:12.000 So the CA Corvettes were so much demand, they made bank off people 10, 20k over.
01:15:18.000 The average vehicle was priced 9.9% above MSRP, all thanks to high demand and limited supply.
01:15:25.000 Yet, despite nearly every other pandemic shortage eventually coming back down to reality, car prices never really fell that much.
01:15:33.000 Like as of now, new cars are still $12,000 more expensive than they were a few years ago.
01:15:39.000 The typical family would have to spend 70 to 80% of their entire year's pay just to buy a vehicle at today's prices, which is double from what it used to be in 1990.
01:15:48.000 And all of this simply means that car prices are outpacing incomes.
01:15:52.000 More buyers than ever have payments that exceed $1,000 a month.
01:15:56.000 And we have a new category that's absolutely out of control.
01:15:59.000 Interest rates that were more than double the average since they were just desperate.
01:16:03.000 So what he's saying, guys, is that like now, even though prices are not budging, the rates are really high.
01:16:09.000 So imagine this.
01:16:11.000 Payments are higher.
01:16:13.000 Prices are not moving down.
01:16:16.000 They barely are.
01:16:18.000 Right now, at least.
01:16:20.000 And you're left holding a high payment with a high car price.
01:16:29.000 Cooked, man.
01:16:31.000 Yeah, fellas. 0.98
01:16:32.000 This is my message to you, fellas watching.
01:16:34.000 If you're hearing me here, you want to buy a car the right way.
01:16:38.000 Buy the car used.
01:16:40.000 Buy the car three to four years under the current year.
01:16:46.000 Preferably four if you can, because they all look the exact same.
01:16:50.000 Because that means the car is already, for the most part, past appreciation.
01:16:53.000 And this is a basic understanding.
01:16:54.000 I can go more advanced, of course, more detailed, more like numbers-wise, if you show me a car directly.
01:16:59.000 But the base message here is that you want to buy a pre-owned used car.
01:17:04.000 That's a good condition.
01:17:05.000 Obviously, bring a mechanic to look at the car.
01:17:08.000 I made a mistake on not doing that a couple times.
01:17:11.000 It didn't hurt me that bad, but I've seen people get hurt really bad from that.
01:17:15.000 And then three, understand whatever car you buy, the car payment is one thing for sure, but the actual exit is what you got to look at.
01:17:23.000 Like that's the part that hurts the most.
01:17:25.000 Getting out of the car.
01:17:27.000 If you can't do that successfully or find a way out to minimize that negative equity, I will not buy that car.
01:17:35.000 Because you're going to end up paying at the end of the actual lease or sale of the car a bunch of money that you don't want to spend.
01:17:42.000 And that's going to hurt, fellas.
01:17:43.000 Trust me.
01:17:43.000 It's going to hurt.
01:17:45.000 So don't fall for that trap, man.
01:17:48.000 Don't fall for it, fellas.
01:17:51.000 Before we leave any questions here, fellas, before we head out.
01:17:57.000 Well, I got to stream later on with Mr. Organic and Dom.
01:18:00.000 We're going to cover some dating stuff as well on a 305 podcast.
01:18:04.000 Yeah, guys, the Grand Lo's taught, man. 0.51
01:18:05.000 We're working hard, man.
01:18:08.000 Working hard.
01:18:11.000 McLaren's also good for depreciation.
01:18:14.000 Yeah, McLaren's are really down right now, actually.
01:18:16.000 You can get a nice McLaren, a 720S for like 200K, 180.
01:18:20.000 And it used to be like 400K.
01:18:21.000 So imagine that.
01:18:23.000 Like half off the car you can get.
01:18:26.000 Look at the audio rate.
01:18:28.000 They're really cheap now, too, as well.
01:18:31.000 Audi rates are like going for really cheap.
01:18:34.000 Like you can get an audio arc right now for 70k. 1.00
01:18:40.000 Look at this shit, bro. 0.99
01:18:42.000 Audio array, brother. 1.00
01:18:44.000 For 70k.
01:18:45.000 Sheesh.
01:18:47.000 Man.
01:18:48.000 What a dream, bro.
01:18:50.000 What a dream.
01:18:51.000 If you told me that, you know, a couple years ago, I'd be like, nah, brother.
01:18:56.000 No way.
01:18:56.000 Just kidding.
01:18:57.000 But yeah.
01:18:58.000 Guys, you can do this, man.
01:18:59.000 Just get smart, man.
01:19:01.000 Got questions, bro.
01:19:02.000 You can put in Discord, put it in locals.
01:19:05.000 I'll try to respond to if I can.
01:19:07.000 But again, like, this is where, like, you gotta use common sense and use what's happening in the world of leverage here because you can see the market is not where it should be for cars and real estate.
01:19:17.000 So.
01:19:18.000 Alright, man.
01:19:19.000 I'm gonna head out of here.
01:19:22.000 Just so we are clear.
01:19:24.000 Guys, don't buy a car without watching this video.
01:19:27.000 Thoroughly.
01:19:27.000 I showed you the reason why you don't want to buy a car right now.
01:19:31.000 The gap between negative equity and you getting on the car.
01:19:34.000 Exiting the car is very important.
01:19:36.000 The payment is important too, but that's the least of your worries, bro.
01:19:40.000 And then, of course, if you can't afford...
01:19:48.000 If you lose your job.
01:19:49.000 That way you don't get ready.
01:19:50.000 But that's right away you can find another job.
01:19:51.000 In the meantime, we need a buffer.
01:19:53.000 And things are never always easy.
01:19:55.000 Jem says...
01:20:02.000 You know what's funny about people that get, let's say, I can give advice.
01:20:05.000 What is your actual history, bro?
01:20:08.000 What cards have you bought?
01:20:09.000 What have you done?
01:20:09.000 Because the thing I'm giving you guys is experience that I've went through.
01:20:13.000 Either I've mastered it or filled it.
01:20:14.000 And because I've learned from it myself.
01:20:17.000 This point is actually solid because I've been through it many times myself.
01:20:20.000 Many card deals.
01:20:22.000 Normal cards, luxury cards, except a card.
01:20:24.000 So you don't know what you're seeing either, bro.
01:20:27.000 But again, fellas, you're a personal personal financing.
01:20:32.000 Don't lease the company lease.
01:20:35.000 And again, leases are short term.
01:20:36.000 So if you're renting the car, you're going to give it back.
01:20:40.000 But you do avoid depreciation for the most part, which is not a bad deal.
01:20:44.000 All right.
01:20:46.000 All right, fellas.
01:20:47.000 I'm going to head out of here.
01:20:48.000 We've got a stream with Organic and Dom.
01:20:50.000 305 podcasts coming up for you guys on this same channel.
01:20:53.000 Support channel, man.
01:20:54.000 Sub to the channel.
01:20:55.000 We're almost at 200k.
01:20:57.000 Appreciate you guys, brother.
01:20:58.000 And stay blessed.
01:20:59.000 Be smart, fellas.
01:21:00.000 Don't get finessed the car market.