People are Destroying their Repo Cars and it's the Banks Fault!
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- čas přidán 6. 11. 2023
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#Copart #Salvage #Auction - Auta a dopravní prostředky
I learn a lot from your videos, Randy. Today, I learned that the reverse camera of a Range Rover is really for checking smoke from the exhaust. Makes perfect sense!
You know why Range Rover drivers always wear sunglasses? To keep the glare of the check engine light out of their eyes!
Good one
You are 110% correct about the repossessions! The folks that damage their vehicle when they find out it’s being repossessed are taking out their frustrations of their failures on the wrong thing. My grandfather had a saying about things like this, “they are cutting off their nose to spite their face”! Love this channel and all your hard work bringing us awesome content!
Your grandpaw quoted the Bible… and it’s a true statement , a lot of people do it!
I don't know if the procedures on repossessions are the same in the US as they are here in the UK.
But here the bailiffs use the car to sell at auction to pay off some or all of the debt owed, so it's incredibly stupid to damage the car as it only devalues it, meaning they owe more. It's a proper facepalm moment lol.
That’s the same process as in the states. The people doing these kind of things are unfortunately not smart enough to realize all they’re doing is devaluing a product that’s going to be used to pay off some of their debt. Those people are probably the kind to file for bankruptcy anyway tho.
@@adamholmes740yeah same here. The problem is these people don't plan on paying anything back so it makes no difference if they owe a thousand or ten thousand.
Some of the lending companies will repossess a vehicle from someone and then finance them again next tax season. They just want the down payment knowing they're going to take the vehicle back, damaged and devalued, and write off the losses. They want the CR writers at auctions to devalue them as much as possible.
Thank you for the public service announcement you gave on repossessions. You are 100% correct!
I currently have 2 car loans with high interest rates. One is 19% and the other is 22% I am rebuilding my credit. And I am forever grateful that 2 banks have given me a chance. I agree Randy, if they repo the car just let them have it. Cause when they sell it at action is less money that you have to pay them back when it comes down to it.
I knew a guy who was a Rural Mail Carrier who for some reason decided that a Range Rover would be a great purchase. He ended up selling it in frustration after multiple breakdowns during 19 months of driving it.
2-3 years ago. The repos I was picking up from Auction were clean and front line ready. Repo's I'm picking up now are destroyed. Lots of damage, trash all over the interior.
I agree with you on this. I've had many cars myself. Repossessed when I was a lot younger and did the same thing. It wasn't the bank's fault that I couldn't pay on it. It was my fault and yes, they did not pull my arm for me to sign it. I signed it under my own free will. So when I usually have my car's repossessed now. I call up the bank and tell them I can't afford it. Please come and get it. The car runs and drives and is in perfect condition. When they put my car into the auction. I got a lot more for it being in the condition that it was in. I also found it at a nearby dealership. And they gave good reviews on me on how the car was kept which made me feel good. I am also able to make car payments half. The amount that I was before and the bank is lowered. My interest from 14% to 10%. Because I worked it out with. Bank So people when your car gets repossessed, don't destroy them. The bank will get you more money for it. so Randy, you are 2000% correct on that.
Many people are poor because of their own actions. Buying cars they can’t afford, not taking care of what they have and wasting money on things they don’t need.
We had a rental upstairs back in the eighties. They bought a newer car and it was dirty and trashed out in a few years. My mom had ten year old car with a lot of miles that looked like new, and was paid for. 🤷🏻♂️
We are poor because of what is happening. Every day, I drive a 22-year-old Ford pickup to work, pay bills and groceries, and my entire check is gone. I'm Gen Z, and I'm exhausted. I can't afford anything right now, I'm done 💀🪦. All of my friends drive crappy cars, but we're doing our best. lol
You're on the side of the banks ? Banks were bailed out from 2008 to 2014 after making very bad mistakes.
This guy is over working now🤣🤣 a new video every 8hrs... Kudos. I love your energy from Kenya- Africa..
Role model
He said “this is not a airport, you don’t need to announce your departure” 😂😂😂
I agree. I would never buy something knowing I couldn’t afford it. I never had anything repossessed cause I paid my bills. I started with a 3 something credit score and worked my adult life, and built my credit and now able to afford something newer. I bought a car with a 600 credit score at 18 percent, paid every month until I traded, took care of the car , traded it got top dollar and when I renewed for a 2020, I’m paying the same payment, for a newer year car but at 4 percent interest which I’m very comfortable with. With less years to pay off. And my score went up dramatically. But I agree never sign on the dotted line unless you know I can afford it. It takes hard work to be able to afford something nice and I don’t make a whole lot of money on my job but I was able to budget a newer vehicle which is a blessing.
Yeah i though that too when i bought a new Ford Ranger in 2008 and i made the payments on time for over a year then i had to move to NC to care for my 80 year old mother but i got sick out of nowhere with a super rare autoimmune disorder and i was between jobs and health insurance and spent 4 months in two hospitals where I almost died twice. I was literally on the way to a surgical procedure when i was explaining to Ford Credit where the truck was located and where the keys were because i wouldn't be able to walk again or work anytime soon . A month later I got a bill for 2300 dollars because they sold the mint condition truck i had put 2 grand of upgrades on for less than my loan ballance. I told them to piss off and it wasn't my problem that you sold it for less than i owed. I didn't forsee this and wouldn't have sold it so cheap. I just got slammed with over a million dollars in medical bills and im unemployed, what exactly am i supposed to do? Besides i gave you back the truck in nicer condition than new ! Finally they wrote it off but for 2 years they they were relentless, im like gawdomighty people im in a electric wheelchair i cant even get out of my own house much less work doing the job i had 40 years training and experience in. I don't know what else to tell you people. Finally i got one of my 5 doctors to send them a letter stating that I was permanently disabled and was destitute and on medicade. 15 years later I still can't even get a Fingerhut credit card with 27% interest! My credit score was in the 700s . I got my student loan dismissed too and oh boy thats a whole nother story on its own! Shit happens to good people that they have no control over. It was my first repo . I volunteered to give the truck back as soon as we knew my life as i knew it working at a job i was dam good at was over but thats how we roll here in the wealthiest country on earth we allow people to go bankrupt and loose every single thing that they own simply because they got sick out of nowhere with no warning. Id never been sick my entire 48 years bad enough to require hospitalization up until feb 2009
Yep, you have the same mentality as i do.....keeping my credit respectful...... i just got done paying my 2014 Mustang for 6 years....i'll never sign my life away in purchasing another vehicle...I'm 66 enjoying my retirement....why get in debt with this inflation.....
Two other points I would make as to the poor condition of repossessed vehicles like the ones you saw at the auction.
One, if careless as to money, then more likely careless in many other ways including with their vehicles. They may be more involved in crashes, minor incidents of damage.
Two, many really couldn't afford those vehicles in the first place so don't maintain them or if in a crash they can't afford the insurance deductibles.
Oh I agree with you. I’ve had cars repossessed I always cleaned them up and handed over the keys. I definitely know it’s my fault not theirs that I couldn’t pay them. I actually had one repossessed they sold it at auction and got more than I owed and they cut me a check for the difference.
Why hasn't RR ever fixed their known problem with these vehicles? What a bad reputation to see this happen so so often.
If you are forced to buy sub prime, go as cheap as possible and look for ways to pre pay to avoid the full term while building up your credit so the NEXT loan won't kill you.
Next, LEASE a pre owned (still under warranty) and make the payments. Again, building up your credit.
Now, you are ready to finance at a reasonable rate.... IF YOU BUY WHAT YOU CAN AFFORD!!!!
@paulmckinney6163 The problem is the market is so screwed up on used cars on top of someone being sub prime it ends up being a never ending revolving door.
Prime example Aug 18 I picked up a one owner lease 15 Corolla S 6spd 29k miles for 15,998 20% 72mts 395 a month. Sold it in Aug 21 for 18,000 with 63k miles a. 20-21 Corolla 6spd with the same options and similar mileage going for 22k & up.
Good example in Jan 2020(about a week before Covid hit) I picked up a 17 Fusion Titanium 2.0 AWD 37k for 18,998. 276 a month-72 months. Sold it back to the selling dealer in Oct 21 with 52k miles for 24k.
It’s a tough cycle for people, but people took that little bit of “stimulus” money and ran out and bought WAY out of their budgets. The banks need to accept some of the blame though- esp underwriting for WAY relaxing income requirements/VERIFICATION. But that happens when they are loaning out free money. I’ve noticed Underwriting has clamped back down. My sister had to buy a new one in Aug 23- after paying off her last one in Aug 17, and REFUSED ago use ANY credit between then. Bank asked for every verification document they could.
People complain about high interest rates but if you sign the paper on the car deal then you agree with that interest rate. When you get a credit card, the bank shows you what the interest rate is going to be on it. If you agree with it then it’s on you.
If they’re not paying their note or course they’re not paying the insurance! The bank should pay insurance the First Time they miss a note if they don’t verify full coverage. To coverage the potential loss
Hey Randy, kudos once again! Love the dealer auction site it’s my favorite hands down over Copart, and the insurance auction sites! Being able to test drive them is huge! I can’t believe that idiot that he was unsubscribing to your channel because he didn’t like Volvos! What a jerk! I can’t imagine viewers unsubscribing every time they see a car they don’t like! You’re the number one automotive channel in my opinion because of the variety you offer! Ultimately you’re going to see something really interesting that you like when it comes around! Keep up the great work buddy You provide hours of interesting content and entertainment to us!
Agree with you, Randy. I grew up in poverty, now, as a self made millionaire, a dollar is still a dollar to me.
How many gay films did you have to be in before you reached your goal,?
Randy idk if i would say your sane but ur on the right side of the argument. We will leave sanity up to the professionals though
Much love and support from Boston 🙏🏻 ❤️
5:24 I'm from the UK I watch all of your videos and you are 100percent correct about range/land rovers it's well known if you own one of these vehicles you need a very good bank balance because something will always break and will always have something wrong with them
You're right. My credit is crap because I was very irresponsible and I got a car loan for 18% so that's on me not the bank
I actually agree with your rants about in this one. Especially about people volunteering to sign up for a loan with high interest rate, especially with today's interest rates. That's why I plan on driving my 2013 Volvo XC90 with 231,000 miles on it 128 miles a day, 4-5 days per week for a couple more years. It also helps that I still really enjoy the vehicle and it has been paid off for a while.
8:30 As you know, turbos and superchargers mean more parts and systems to fail. I'll take a NA any day!
14:55 Look at that beautiful hinny. I love what they did with those taillights. If they made an awd 80 series in 2000, I would have bought that instead of my wonderful but disastrous Audi A6 2.7T.
Land Rovers 100% are known for blown head gaskets. Head gaskets and electrical problems, expensive junk. I love it when people who don't wholesale 1000s of cars per year think they know what's what.
Hey Randy, I just wanna let you know that I watched your video from when you post them in the morning in the afternoon everything you said in this video is true people sometimes don’t care about their vehicles when they’re being repossessed, they just trash them all the pieces and make us have to pay for him in the long run but please keep the contact come in. I really enjoy my watch and every day like I said to you before I don’t know what you have planned next time but I’ll be looking forward to the next video. I hope you have a great day. i’ll talk to you later
AGREE 100% Randy! Love the content.
Thanks for the video, Randy.
Why I only buy Lexus. Never had a single issue. The ES 330 has 300K, never had an engine light come on.
We have a 95 Lexus LS 400 that I bought new. Other than general maintenance and wear parts, it’s been a great car. All my kids used it while going to college. Still looks decent. Only thing that drove me nuts is the power antenna breaking internally. I’d order a new one, and replace it. Two months later it’s broken internally again! Ordered a brand new complete assembly, lasted about 8 months and broke. Never have figured out why!
Range Rover , manufacture should include a bottle of blue devil just like a spare tire!
$10,000.00 is a big roll of the dice , but I think the blue devil will work!
I agree with you on the non payment and repossion principals.
Another great video Randy! 👍
I do agree with what you said about repo cars ( as far as my sanity level 🥴🤪🤪🤣 ) , the blue devil stuff , Paul Cox ( fab rats ) used it in his Tacoma , and his rig still runs strong and occasionally uses it for off road recoveries .
Why have some cars got yellow ribbons on the mirrors?
Amen say it. You are absolutely 1000% correct. That saying what goes around comes around again so true. Its going to cost them more money in the long run because they damage their own vehicle and when its auctioned off and the remaining balance is due they will come after them for it.
Good advice Randy on the Repo situation 😎😎👍👍
Great video as always. Interesting that the Range Rover is sitting next to a Toyota 4Runner, opposite ends of reliability.
21% isn't predatory it is the rate required for the risk associated with the loan. They know a large portion won't pay it back. Why should a high risk customer pay the same rate as a low risk customer?
What it like to do this as a living and still not have a $7 hood strut clamp from Amazon??
Content is clean keep going
I do 100% agree with you. It is not the repo man's fault. You did not pay, let him leave in peace. And it is not the bank's fault. They charged you high interest for being irresponsible. However long you have been irresponsible and you get a 20 plus percent interest rate.🎉
I agree 100%. Can you maybe take a look at the Outlander you passed? The time you passed it on the video is 22minutes and 56 seconds?
Your videos are awesome.
If you type the time stamp it will create a link that will jump the video to time 22:56
I just bought a new RAM Laramie 4x4 from your favorite Dodge dealer (they're 2 minutes from me) virtually identical to yours. Couldn't justify the price on a Limited. I've wanted one for a long time, so I bought it. I'm at the point in my life where I don't expect to live long enough to pay it off. Maybe, but not likely. Didn't take out a life insurance policy on it, because I don't have anybody to leave it to, so my thinking was if I pay it off great, but if not....I'll be dead and won't care. The bank can go after my house, but again, I won't be here. That may be a poor decision on my part, but I'm trying to enjoy what time I have left with a couple of new toys. After I'm gone, the bank can have at it, won't bother me a bit. Maybe you can snatch it up at auction. I'm lucky to drive 3K yearly, might drive this pickup a little more than that, but not much.
@larryinokc Hope your enjoying your new Ram. Been driving them since I was a teenager, still love my 19.
I certainly don’t blame you for looking at it that way. After spending most of my life in the repo business, was diagnosed with stage 4 colorectal cancer at 29 years old. Bought a few new toys over the time-told the wife sell em, dump em off to the bank-whatever ya wanna do. Payments still go out as long as we’re breathing though.
I totally agree man.. people are going crazy!!! 👍🏻
I don’t like Volvos and I keep watching😅
I agree with statements about repos. Don't buy if you can't afford it. In some states you can even go to prison for fraud for damaging something intentionally that you don't have free and clear title to. Arson and insurance fraud are still crimes.
Keep up the good stuff.
100% agree.. i had a 2005 tundra repoed in 2010 cause i was 2 weeks late.. just let them take it.. they sold it at auction for about 700 more then i owed and i got a check for the rest i was surprised.. bought a old toyota truck and fixed it up and drove it for 3 years till i bought a brand new truck with cash.. ill never finance again..
Good message Randy, unfortunately logic and rational thinking is just not possible with most of society today.
Good Morning Randy from @Auto Action Rebuild 🙏😇
100% Randy the young generation is not taught to think through the situation and it all starts at home when they were kids
100% agree with you about repossessions.
There are a few sane people out here but dwindling fast! Hopefully one person absorbed what you said and they will not fall into the trap
Randy what do you think of the buy here pay here lots and the ones in my state charge 25 percent on all the loans no matter what yr the car or truck is and they only give you a 30 day warranty on all there cars and trucks and the buy here pay here lots holds the title to the car or truck you are buying until it's pd for them they sign off the title
I totally agree people are idiots! The people who do those things are probably the same ones that were given trophies for finishing last
Worked for Ford Credit in college. Went to repo a stang convertible from a stripper who listed her job on the credit app as and I quote, "Entitainer." She said I'll do anything to keep the car and I mean anything. I passed
What’s crazy is I have been dailying a 15 RRS since new and it ironically has been the most reliable car I’ve ever owned. I guess it’s just hit or miss with them!
This is not an airport 😂😂😂
You should look at an S60 R or V70 R, super fun Volvos.
Randy, yes 100% agreed.
Preach it brother preach it !
good point
I live in Ohio and there are people that do not care about their
credit because they file bankruptcy and still get loans for things. it did not used to be like that if you filed bankruptcy you could not get things for 7 yrs.
When the Range Rover didn’t start immediately I was like head gasket lol like the one you put blue Devil in lol I had an Honda odyssey that blew one
P I absolutely agree with you😊
I'm glad you mentioned blue devil especially before milk shake. i watch samcrac.
Good morning Randy. The 2014 Land Rover Range Rover is a good looking SUV. It's got head gasket issues. The 2015 Land Rover Range Rover Sport is a good looking SUV.
Well said
Thanks for looking at the Volvo s60
I agree with what you said.
I have a 98 it's not to bad to work on.
Ummmm 🤔🤣reliability SHOULD be the #1 reason to have a problem with a brand like Land Rover. People keep buying believing the hype and thinking it’s not going to happen to them
Nailed it!!! Amen
Your right !
Tuesday's Rant with Randy! 😂. Amen 100%
Randy, you know it I know it and they are always going to be stupid people! People will always going to complain or feel there insulted! We are here as adults to view your channel! And so what if there are cars you have your options on! We are here to view your channel and even learn what you think and go from there. It's no big deal! Keep up what you do randy!
100% agree well said
I agree with you 100%
Amen preach it brother
Def agree with you Randy
I hate blacked out wheels on any vehicle
how does someone get their car repoed with 220.000 miles on it
They Bought car with high mileage
They Bought car at “finance price”
TheyPaid 21% interest lol
They missed a payment
They’re being given a reach around by the bank and their insurance company and mans got 9 dollars in his account 😂
Six and seven year car loans are pretty common. It's not difficult to put that kind of mileage on a vehicle after such a long time.
I would love to see you look at some 2019 dodge 1500
You are correct. Pay your bills then you don’t have problems.
Yup,Your right.
Announce your departure! 🤣🤣🤣
Randy,
Unfortunately RR's are not your specialty. Almost all full size and Sports ARE supercharged, even the base models. RR's are not prone to blown headgaskets. What they are prone to is the plastic cooling system tubes un-glueing .... leading to cooling leak. IF that's not fixed, then it would lead to an overheat and subsequently a blown head gasket. Replacing all the coolant tubes is a cheap repair....less than $200. Also, the black wheels are NOT dipped in anything by the owner....those are factory black wheels...very expensive...just FYI...I've owned and currently own 3 RRs in my family. Great vehicles.
Try K Seal in stead of Blue Devl. Both are great
I think a Range Rover built before 1990 would be better than the newer ones with their broken tech, and factory-activated check engine light.
Randy u should get a 2008-2012 ford escape with the v6 fwd or 4wd there very reliable suvs now im in Canada so we go by kms but i have a 2009 ford escape limted got black leather interior moonroof sirus xm and it has 307,000 km on it and never had to replace anything except spark plugs a coils but they were the original coils and spark plugs either then that it runs and drives perfect if u maintain them regularly when there supposed to be then they can last a very long time
Pass it on to the consumer...it’s the American way.... a business model.
Randy you should look out for a Volvo S80 V8 AWD. They go for dirt cheap and have a Yamaha tuned engine which sounds crazy.
That silver range rover said supercharged on the cluster when you started it.
I would pick the red sr5 insted
I agree 100% pay your bills we wouldn’t have this issue but we all know there’s always those people with no common sense that want credit for free instead of working for it just they want a high paying job without working for it but they think we should give them our earnings but that’s go work for it
I have used blue devil many times it probably worked 90% of the time, I wouldn't really use in a car I was going to sell to a friend, but at auction their is really no risk of it coming back to haunt you in the long run
Take on the Range Randy!
That's Nice All Black range rover i need one of those