Why Car Loans Are The Biggest Scam In America
Why Car Loans Are The Biggest Scam In America – Feating Caleb Hammer @CalebHammer – Add me on Instagram: GPStephan
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That’s insane. This is why I decided to just buy my car outright. I’m not dealing with all that.
Exactly, it’s just an overwhelming headache.
Nothing he said in this video is true.
Yeah well they are not targeting people with this much common sense they are targeting the uneducated poor who want to have a little prestige. The problem is in the long term its always a net negative. Predatory lending is one of the most unethical things and people have known this for 4000 years. The fact we still allow it is disgusting.
Mines just 220. I’ve heard so many stories about people getting something outside of their pay grade and it’s wild
mine was 237. i have no idea how people agree to these loans
Its wild how people will justify a new car/auto loan. $3k audi going 8 yrs strong. No repairs but new tires 3 years ago
I had two Audis in my life. 8 years with no repairs is something very hard to believe for me. 😂 I had a 2002 A6 and a 2014 Q7
Has your Audi been sitting in your garage for the past 8 years or something along those lines?
You do know Audis famously break more than any other car brand right? I dont believe you
Car loans = student debt loans it’s about a 200 billion dollar difference which in the grand scheme of debt isn’t that big of a difference
Holy shid, thats my husband’s mortgage!! 😂
If its your husband’s mortgage, its your mortgage?
@@MisterKewlzNope. Although he bought it when we were just bf/gf, it’s all his. At the time he bought it, I wasn’t working, and he didn’t want me to work.
not regulated like a student loan? The loan that you can’t declare bankruptcy and can borrow tens of thousands without proving income?
In germany nobody buys a car with a loan only cash
That’s only partly true. A lot of people here get theirs as a job bonus, so the company pays for it, or get theirs as a lease. Then you pay a monthly lease, less than what’s the car is worth in total, but you give it back in 3 years.
On top, some people who just have to have a car (living rurally, habe to reach your job etc) will also get a loan to finance it when you have to make the purchase quickly out of necessity. When you have the ability to pay in cash, good for you 👍🏻 it doesn’t apply to everyone here though
Student loans are terrible and at times worse.
I have a higher payment but the term is shorter and the interest rate is only 1.9%. I bought a previous year’s model
$754 a month at 2.9%.
Outrages numbers & to make it worse some people are getting Nissans with that price 😭
I thank my 2 30+ year old cars every day that they just keep going 😅. I drop a lot of money on one of them here and there but that’s cheaper (so far) than having a car payment.
Its horrible in canada rn. Used cars are expensive af, new cars are built to break and are way overpriced for what people are making here. Mechanics hourly rates have shot up so much since 2020. Plus with the cost of living its becoming unbearable to even just stay alive. I dont know too many ppl that are doing good rn unless they’re getting help from family.
Well just look around, there’s a good reason why the rest of the planet now considers you the world’s newest North Korea. Perhaps one day America’s armed forces will liberate the Canadian people but I wouldn’t count on it if I was you. Unless you are willing to wait decades it might just be time to read the writing on the wall and get out while you still can. No use gambling with your future on the hopes that American’s will free you one day.
There should be less regulation more education
Everybody get a Honda cash
54 y/o. Never financed a car, always bought with cash.
Smart guy
What’s maddening I bought my 1st brand new car in 2017 paid it off by 2020 still in 2025 only 38k miles like a brand new car I never wanted a payment again!
6 months ago a now on het 3rd dui drunk driver T bone hit & ran me while I’m parked in front of my house. Got it on camera. $9k in damage on estimate and her insurance says nope $4,300 insurance and refuse to budge! now I have a mangled car I can’t repair. Sick that there’s zero accountability for ppl like that and they can ruin my life!
Student loans regulated? 😂
I put 5k down on a 13k sticker price used car. I will end up paying 8k in interest on a 10k loan. 2.8% . They got me good.
I like how he thinks credit cards are strict