Sign Up Today For Experian: http://www.experian.com/save | Lets talk about the worsening car market bubble, why the loan industry is about to implode, and what this means for used car values – Enjoy! Add me on Instagram: GPStephan
SOURCES:
Your Automotive Alliance: https://www.youtube.com/c/YourAdvocateAllianceYAA
Lucky Lopez: https://www.youtube.com/c/AutomotiveLifeTV
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THE USED CAR BUBBLE:
Under current law, dealers are allowed to keep a portion, or ALL of their interest-rate markup AS LONG as the buyer makes payments on their car for the first 3-6 months…and, over the last few years…subprime borrowing has seen a MAJOR comeback…sometimes with interest rates as high as 20%.
Bloomberg noted that “as many as one in five auto-loan borrowers admitted in a survey that their applications for debt contained inaccuracies, meaning fraud could be more pervasive than lenders planned for.”
This basically implies that – NOT ONLY are lenders and dealerships turning a blind eye to income and employment verification for the sake of issuing a loan…but, 20% of CUSTOMERS are also LYING about their financials just to drive off in a new car.
All of that is to suggest that: in the event of a severe recession, where we see continued unemployment, and ongoing inflation…borrowers will absolutely begin to fall behind at a faster and faster pace…leading to lower prices, and – eventually – universal regulation around the auto loan industry…which, frankly, seems past due.
The thing is, unlike investments…MOST PEOPLE aren’t speculating on car values, and they simply need a mode of transpiration from A-to-B…so, it’s probably not even worth it for 95% of the population to sell and try to buy back cheaper…and, when you have a car that runs and drives…it’s probably best to keep driving it.
But, if you’re in a position where you’re locked yourself into an unaffordable loan – and, can GET OUT OF IT for something cheaper – now might be a good time.
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Thank you for the shout out Graham. We’re doing our best to keep folks informed!
Bring’em on the podcast!
I found the YAA page about a month ago and even though I thought that I knew my stuff I learned a lot.
Shout out to the YAA duo. You guys are great together. Have learned so much form both of you. Thanks you!
Finally some good news. Maybe I can buy a used car now
Can you cover Current Banking? I see a lot of influencers promoting this card but is it all hype?
So basically, people are being idiots and ignoring one of the most basic financial rules: don’t spend more than they can afford. A financially-poor minded person will always go broke no matter how much money you give them.
If you leased a car and can no longer afford it, search up Private Auto leasing brokers in California, my go to is Caliber Motorsport And Leasing (CML), and they will buy your car lease, any make. Some car companies won’t let you sell your lease, but car brokers can pay it off under your name, release you from liability and in your credit it will show up as paid off. Hope this helped some of you.
I lost count of how many times the bubble collapsed already
Are you copying Andrei or he’s copying… Same video title as his
Graham what do you think of Quantum Scape and Microvast? I just opened an account with Schwab and I’m doing more research on where to put my money.
Yeah but @meetkevin will always have more money than you
Thank you for informing us!
Like wiley said, don’t spend your money until you’ve made it.
I’m going to sell Lego Agen Kolar 80-85 dollars
Been waiting on this. CAR PRICES ARE HIGHWAY ROBBERY
Go both ways if they know that the vehicle value is not the high,why they put so high of a sticker price, I tell you why it’s reverse psychology in case they default on that loan that can still make money there’s all about 💰 how do you beat the system not to play by the rules plain and simple.
I bought a car for 1000 euros. And guess what… It has an airco.
ok elephant in the room is, when will the market drop to normal? all this was nice to hear but it doesn’t answer the most valuable question.
Gas has come down significantly and there’s a labor shortage with low unemployment. Cooperate and institutional greed and price gouging needs to be addressed. They need to stop making us (the people) their bag-holders.
I remember back then, you were able to negotiate prices. Now what you see is what you pay.
It means give more to rich people. Take taxes and regulations away from rich people. Pound the working class down even harder into subservience for less than we already have . Maybe you can make working people start selling their blood at a loss. THat’s got some profit potential , doesn’t it ! Keep squeezing. It’s gonna work.
can you do a video about voo, fxaix, and vfiax and why they’re different prices and have different divided yields if they all track the same thing.
Nice Info, thanks 😊
Doubtful.
But Graham,
Get Chris aka Abroad In Japan on The Iced Coffee Hour!
Tell him I sent you!
The money glitch cycle reminds me of the beginning of GTA V
Dealers really just wanna be able to make a sale or write a loan in a rush. They don’t verify much of anything.
Sold my used car at the peak (September 2021) and bought my dream car for a discount bc luxury cars were still normal prices at that time ggez
Successfully lobbied… Is there a single politician in America that can’t be bought? When do we start to question this?
The loose lending requirements has allowed a significant amount of fraud in auto lending. The amount of vehicles driving around on identity theft is ridiculous.
loooool this guy smart
Anyone else noticing this info looks a lot like the big short?
Wait you have a fireplace there or is that a trick??
Been saying this for years , you could always get an auto loan if you just had a pulse
Same info as andrei
What kind of car is in the thumbnail?
You mean banks approving sketchy loans where the dealer added $10k-$30k over MSRP is a bad thing? Color me surprised!
Good and helpful stats, thanks. I love yaa, Car Care Nut and Scotty
Graham literally just copied Andreis video. Must be running out of his clickbait ideas.
Graham makes great click bait thumbnails
Such great info here GRAM! BUT GRAM, … Just kidding. I would love your thoughts on student loans and “talks” about the government giving people student loan forgiveness up to $10,000. I have been making payments on my student loans while the interest has been 0%, but am hesitant to keep on paying them off knowing that maybe in the future they might just be wiped out (whether I agree with it or not). What are your thoughts? Should I keep on making payments or take that money and invest it? Thanks!
Would love to see something like this too
I just paid mine off and felt good about it. That said, I’ll be slightly frustrated if that cost me serious money.
I’m so glad I used a small 401k loan to repair and restore a classic jeep. No interest, $80 fee, and the money is paid pretax.
Way better than buying a $30-60k vehicle for a region that REQUIRES 4×4 or AWD.
So, while the sub-prime mortgage market was exploding, and car manufacturers were BAILED OUT… They didn’t bother to learn a damn thing. The used car market is a rubber stamp of 2008/2009, all over again.
Half of your videos now are just ads so sad to see. On top of YouTube ads you have ads within your video. Kind of feels repetitive
MILK SHAKE!!!!!!
Washington DC leading the way in financial irresponsibility??? Shocker…
Dude, D.C. and the Southern states? That headline might as well have just shouted, “Black consumers are having trouble making car payments”. Pretty much the implication you come away with, based on demographics of those named areas.
can you link that state by state list? I am curious where IL is. Washington DC may be the place to buy used cars. Only problem is it gets snow so risk of rust.
I thought that was the baillout in 2008 was for. That they would be regulated after. So the people got screwed, banks made money got bailed out and continued to screw people and will get bailed out again. “America has capitalism” BS.
Love that Graham gave shoutouts to YAA and lucky Lopez!! ✊🏼👏🏼👏🏼
Do you know the best time to invest your coins 💰
I have invested with him already around 59,000 thousand dollars.
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Great informative video Graham… Love the guys at YAA… thanks for giving them a shoutout!
I kind of blame the weird hand gestures, though 🐦 they could be gang signals
Dealership i went to lied for me I didn’t buy the car
I leased a BMW X4 M back in late 2018 and unexpectedly lost my job a few weeks later. Thankfully I had a nice severance package so I didn’t fall behind on payments but dang that was such a wake up call for me. Now that my lease ended in December 2021, I haven’t had a car since lol that situation was terrifying
IS it just me or does Meet Kevin speak in such bad regard of all the old friends at millennial money now in his interviews? Graham seems to have been such a good and supportive friend. Really disappointing.
❤️❤️❤️
Wood prices are not back down to 2018 pricing Graham, they are very much still exorbitant.
This is why my car is payed off in full. If the market goes south I really really don’t care one way or another. I bought my car new. Pay it in full and I m going to drive it on till the wheels fall off 😁 hopefully more than 15 years. If the market goes south it will not affect me one bit
Graham, I have respected you and watched your videos for many years. I have taken your advice and been successful. so I owe alot of my wealth creation to you and your techniques you have shared with your viewers throughout the years. BUT…this recent shift to doom and gloom grifting to get Youtube views and Twitter followers through posting threads is going against your own core values. We don’t care wether or not you are Michael Bury. Please stop doing this grifting tactic and go back to your old great personal financing tips.
You gave this video from the perspective of a seller and someone who is living in a lot of auto loan debt. But what if I’m a buyer in the used car field, Is it more advantageous to wait or to buy now?
back to dropping the same videos as Andrei…sweet
I gave my GMC suburban away and bought an electric bike problem solved
Needs more hand gestures.
Did you just reference Ryan’s penny challenge with your thumbnail?!
I don’t have a car. And I hate sliced bread.
My greatest happiness is the $32,000 bi-weekly profit I get consistently despite the economic fluctuation…
@O Joyce. Thanks a lot I just sent her a message and
she responded nicely..
Most people do not know that trading is the best step to growing more income. I realized this after I came across Mrs Christine norine martin
I hold Mrs Christine norine martin in high esteem because of the weekly profit I am receiving trading with her strategies
Yes it’s highly profitable now because
Cryptocurrency is on it’s pace to another
level.
Omg I just checked her up on google, she’s a financial consultant and wealth creator.. I’m contacting her right away.
Woot let that ish collapse. Used car prices are INSANE right now.
I had a car dealer try sell me another similar car so they could get a larger loan. They promised me a reduction on interest… and I said… I will buy my own car back with new financing and they said they couldn’t do that. So weird. And a waste of time. I drove my own car home.
Day one of asking Graham to collaborate with the EverydayDriver guys on a podcast.
I’m about to buy a car. Is the problem people buying too much car? I most certainly can afford it. Meanwhile waiting for prices to drop has passed, Ive waited a year. 24k is respectable. Most dealers are at msrp but they add dealer packages that no one reads the fine print. Add taxes and title, the equation doesn’t change no matter the market.
2008…
But with cars
You need to let the sellers know. I saw a 2009 SV650 for $7500 on FB market place today.
Lumber is back to 2018 prices? Uh, no it isn’t.
Seems like the tjp of the iceberg
I was looking ar a car on carvana and they just reduced it by $1,500
I’m still driving a 2003 Tacoma Prerunnner. Just did my second timing belt & water pump, new suspension, new driveshaft, tires, and I’ll easily get another 100k miles out of it before I even think about buying a new car lol. And right now, people are literally offering me more money than what I paid for this nearly 20 year old vehicle. It’s nuts.
Dude same here. I drive a 97 4Runner that i bought with a blown engine for $800. I installed (myself) a used engine ($200) with ~160k and have been driving it for about 35k miles now. I resealed it and did a timing belt kit on it as well as valve stem seals. It doesn’t leak a single drop of oil and I don’t need to add any between oil changes. The body now has ~320k and I’ll easily get another 100k out of it. I am now looking for a Tacoma like yours with a blown engine/trans to do the same but even those are astronomically priced.
How many miles on it, surprised a taco had that much repairs
@WeGoWild Oh, not repairs amigo,
Preventative maintenance. Big difference.
@WeGoWild Those are all wear items, so I’d bet it has a ton of miles.
Drifting into the trading world without the help of a professional trader and expecting profits is like turning water into wine, you would need a miracle, that’s why i trade with Charlotte Walter, her skills set is exceptional.
I haven’t seen anyone so determined to make her clients profits as Charlotte. How she allows you express your fears and still calms your fears is something I admire about her. I don’t usually comment on videos but I must put the word out there. She’s really great.
you can reach her on tele
gram with her username
investwithcharlotte, that’s it
lots of people turn water into wine. basically b just need grapes or other fruits
bubbles collapse when there is not enough air in them no?
As a broke college student that works part time I can’t afford to wait a year for used car prices to fall I start school again in a month:(
Buy a used Camry or Corolla until the storm blows over. If you need a loan for it, check with your local and even non-local credit unions for the lowest interest rates. If they won’t give you a loan, create a budget, work very hard and save 3-4k to buy said used Toyota with cash.
You’ve Been Saying Crash For Forever Now. Prices Just Keep Going Up
I like the info presented, but I keep watching his hand motion every time! Lol! I wonder if he’s Italian.
Had a brooklyn nine nine flashback there with all the step zooms 🤣
The click bait titles! Graham! You don’t need them.
Graham I love you bro but the lighting on the shot with the GT in the background is subpar. Looks dingy imho
Me driving my 2007 toyota…
Finance your Lamborghini now before it is too late.. XD
Yup, auto lenders are complete scam. Repo only to resell. It’s not genius graham it’s a damn issue
just let who can work from home, work from home. Then, the demand will go down. The price will go down.
Car market bubble? You’re mostly addressing subprime lending which is about 15% of the total car lending market. The information given on that is false. Subprime lending is competitively underwritten and heavily skewed in the banks favor to minimize risk. Subprime lenders will rarely advance over the value of the vehicle and charge high fees to the dealer when funding the loan. You aren’t addressing much of the entire car business in this video but misleading people as if you are. Who’s the Bid guy on a lawn chair you referenced? People watching this video aren’t any better off for watching it. Click bait headline with no real research. Ridiculous!
Glad I just paid off my car last month
If you are one of these people with a 20% + loan on an automobile ,message me I can refinance you into something better
Awesome video but I am noticing that all your videos are super negative tone and world is going to end. Would love to see some positive ones as well
I run two dealerships. This video is full of disinformation. Especially when you talk about income verification.
“Russia/Putins fault” – Joe Biden
What a great copycat video of Andrei’s video … You didn’t give him any credit, and you copied his video almost verbatum
30,60,90 days past due. We can look at mindsets in certain states and I bet you I can tell you where the majority are coming from by city.
I saw a clip of you boxing, hilarious bro.
What is your POV on auto leasing?
Purchasing such a high ticket depreciating asset is antithetical to the “rules” of “smart” investing?’
🤣
reset in the title was clever. what do you know
Actual good advice. Sadly, people that are spending beyond their means are not likely to take the advice. Selling their pretty new car and getting a “beater” is not something their ego or perceived social status decline will allow.