People Can’t Afford New Cars Anymore... The BIGGEST Wealth Killer

People are struggling to make ends meet right now between the high cost of living, huge mortgage/rent payments, cost of groceries, cost of insurance, you name it. Everything has gotten out of hand. But out of everything out there, CAR PAYMENTS are the number of wealth killer. People are spending more than ever on auto loan payments each month, so much so, over 30% of all Americans are now living paycheck to paycheck. The car market is suffering because of this, lenders are't issuing loans like candy anymore. Dealer inventory is through the roof... with no light at the end of the tunnel. In this video I discuss: - 101 million auto loans out there 1/3 of the people in the country - $760 average, $525 used - Combine that with auto insurance 2x - $48,405 average - $64,261 truck average - 7% New, 11% Used - Highest 30, 60, and 90 day auto loans delinquencies since 08-09 recession - 23% increase in repos - 25% of people with auto loan have negative equity… - $7200 national average negative equity - 1/4 people owe more than $10K on the car they’re trading in. - They overpaid for their vehicles - 1/5 auto loans denied last quarter - 1/7 families cannot afford two auto loans for $500 or more per month. - We’ve normalized the flash and glitz… keeping up with the joneses - Now we’re seeing people hold onto their vehicles longer. Longer than 5 years. - Pandemic brought the worst out in dealerships. - 84 days worth of inventory… 60 days is considered a “healthy supply” - It’s a buyers market… but they’re clamping down. Holding firm to their prices. - Wholesale market is down nearly 20% over the last 9 months. No longer the “get out of jail free card” for dealers. - Used vehicle prices are way down due to stagnant new vehicle market. If you found ANY value in this video and would like to see more content like this, please consider Liking and Subscribing. Your support means a ton and it certainly doesn't go unnoticed, thank you! -Stay Untamed... #carmarket #vehicles #marketcrash ENGAGE WITH ME ON INSTAGRAM: @untamed_motors