CAR REPO GONE WRONG!

[00:00:43]Welcome back to the channel, ladies and gentlemen, to the real car repossession reactions channel.

[00:00:51]Uh If you're new to the channel, make sure you hit the like, subscribe to this new channel while we check out all the daily contents of uh cars being repoed due to financial crisis, economic.

[00:01:05]So, we going to check out a lot of videos of a lot of cars being uh repoed.

[00:01:10]And yeah, we just going to give our commentary.

[00:01:15]Here we go, another one.

[00:01:18]Right?

[00:01:39]Oh, okay. Is it that serious? He's not happy.

[00:01:44]He's not happy at all.

[00:01:45]>> Yeah, just pay for it, I wouldn't be here.

[00:01:47]>> He's taking the air out of the tires.

[00:01:48]>> Why are you doing this, man? You're stealing my truck.

[00:01:50]>> He's not stealing your truck.

[00:01:51]>> See, he has the car >> He's stealing the truck from the back cuz you're not paying them.

[00:01:54]>> Well, I can get around to that.

[00:01:57]>> It doesn't matter. You have the >> So, no matter what you do, the the bank going to the bank are going to get their money. They're going to get the vehicle.

[00:02:08]And basically, when financial hardship strikes, the immediate reaction is often avoidance and denial.

[00:02:18]>> Drive off. I know that.

[00:02:21]Kiki always in the trouble.

[00:02:26]I don't know. They told us to tow it.

[00:02:29]Your inspection expired or something like that.

[00:02:34]You want to pay a drop fee?

[00:02:38]Car is going to fall. Somebody's going to get hurt.

[00:02:43]Kiki.

[00:02:47]He ain't He ain't getting off of that, so.

[00:02:50]No, because he's trying to drive off.

[00:02:51]That's why.

[00:02:53]He's going to fall and he's going to hurt you cuz he's trying to drive off.

[00:02:57]You don't want that.

[00:02:58]>> It's being recorded also. The truck has recording.

[00:03:01]>> All right.

[00:03:03]>> You can off your key.

[00:03:06]What we have here?

[00:03:16]>> Listen, it doesn't matter what emotional uh you know, that crash out or episode that you want to display or perform, they're going to get the vehicle regardless. And and and a lot of time people were at pretty much saying, "Hey, call the local authorities. I don't care. I'm not moving." Regardless of what you the cops can may show up, they're still going to get the vehicle.

[00:03:42]>> Got it all on camera.

[00:03:47]I got it all on camera.

[00:03:49]All this instead of just $63, right?

[00:03:54]All this instead of just paying $63, right?

[00:04:00]All of this instead of paying $63.

[00:04:03]>> This is crazy.

[00:04:07]>> All of this instead of just paying $63.

[00:04:09]>> My goodness.

[00:04:31]>> So, having the vehicles strips away away from the persons it it pretty much leaves a person without having control, you know, lead leading to, you know, feelings of you know, humiliation, helplessness, and even paranoia.

[00:04:50]Oh, this person trying to make a getaway.

[00:04:54]Back of the car is open.

[00:04:57]They're not going no They're not going anywhere.

[00:05:00]My goodness.

[00:05:08]But But You got somebody else trying to help.

[00:05:15]Buddy, that car is That car is going nowhere.

[00:05:20]Oh, I was wrong. Oh my goodness. He pulled off.

[00:05:25]This is crazy.

[00:05:28]This is crazy.

[00:05:40]I ain't doing nothing. I'm over here calm.

[00:05:44]How am I losing lose life? Now I'm going to laugh when those wheels fall off when I yank it out of here.

[00:05:53]>> Thinking now he's taking off the lug nuts.

[00:05:56]>> Guess what I'm doing though?

[00:05:58][ __ ] most right now.

[00:06:04]>> That's crazy.

[00:06:06]>> Damn.

[00:06:08]Damn, what?

[00:06:10]Damn, you going to try and sell those lug nuts?

[00:06:14]You going to try and make your payment off those lug nuts?

[00:06:17]>> That's crazy.

[00:06:18]>> crazy, dog.

[00:06:23]He defeats the whole purpose right now.

[00:06:25]>> Defeats the whole purpose like Wow.

[00:06:33]What's happening? What's happening here?

[00:06:34]What's happening?

[00:06:36]You need to back up.

[00:06:38]You need to back up.

[00:06:45]You need to get out of the vehicle.

[00:06:48]Man, look at you, dog.

[00:06:49]>> Oh my god.

[00:06:50]>> Get out of the vehicle, man.

[00:06:55]>> Man, see you can't do that.

[00:06:56]>> No, I can do that cuz that's my safety you're you're messing with now.

[00:06:59]>> No, you just put your hands on me.

[00:07:03]Hey honey, y'all Cuz you Now what he did is a violation of law.

[00:07:10]>> No, I didn't.

[00:07:18]>> Look, that's crazy.

[00:07:21]>> Burning rubber.

[00:07:22]>> He's not going nowhere.

[00:07:23]>> Trying to Trying to make a run for it.

[00:07:25]>> Oh, no.

[00:07:29]If that truck gets off off the hook, it's going to ram right into that store.

[00:07:37]>> Hey, but people try anything though.

[00:07:41]>> He's about to blow it.

[00:07:56]>> What?

[00:08:02]Oh my gosh.

[00:08:04]They go to Caddy. They go to Cadillac.

[00:08:08]Ooh.

[00:08:09]Damn it.

[00:08:10]That's more That's more uh That's more uh fee that they got to tacked on.

[00:08:25]My goodness, he tried to run off.

[00:08:36]Oh, he did it.

[00:08:39]Even the motorcycle.

[00:08:41]Wow.

[00:08:42]That's crazy.

[00:08:47]Uh no. Not the motorcycle. Not the mo Oh.

[00:08:53]>> Open it.

[00:08:55]You [ __ ] my tire. Open it.

[00:08:58][ __ ] ass [ __ ] >> This is crazy.

[00:09:09]He's pulling it down.

[00:09:11]He's going to tow the car to the door.

[00:09:17]>> All right, I'm doing a repossession.

[00:09:20]>> He can't be underneath the car like that.

[00:09:22]Oh, wow.

[00:09:24]This is crazy.

[00:09:26]He already came prepared.

[00:09:31]Wow.

[00:09:33]He went to the trunk and pulled out I think he might have pulled out a knife and cut the uh cut the straps off.

[00:09:43]Bro, I don't even think I don't know.

[00:09:45]Can he get off?

[00:09:51]No.

[00:10:02]Oh my god.

[00:10:05]I think it's way up.

[00:10:11]It's going to be a lot of damage if he have any Oh, no.

[00:10:19]I mean, he's going to damage that.

[00:10:23]Oh.

[00:10:26]That's crazy.

[00:10:29]Oh, no.

[00:10:36]That's crazy.

[00:10:52]Oh, no. Not at the pump. And you're going to leave the gas pump right in there?

[00:10:57]That's even more dangerous. Okay, somebody pulled it out.

[00:11:00]>> Well, Carl though, it means more people are falling behind on their car payments. And when that happens, lenders can step in and repossess those vehicles. Experts say it's not necessarily a sign of economic collapse, but it's definitely a warning sign that the economy is slowing down.

[00:11:16]More than 2.2 million cars have been repossessed so far this year, and that number is expected to top 3 million by the end of the year, according to the Recovery Database Network.

[00:11:28]>> I think the biggest question we have is is this a recession indicator? It's a question dividing economists.

[00:11:35]>> You know, some people think that we're headed for a recession. Other people think that we're remaining positive, but they're growing only slowly.

[00:11:43]>> University of San Diego economics professor Alan Gin thinks rising repossessions doesn't necessarily signal a recession, but does show the economy is losing steam, especially in the job market.

[00:11:55]>> As you can see uh the average um So, basically, the This is looking pretty bad, and I pulled up a chart here to show you guys the average monthly car payments per person by generation. So, from uh Gen Z's, the it's 577, millennials are paying 735, [music] and Gen Xers are at 839, and baby boomers at 718. So, and I'll leave off with this uh this last actual uh you know, fact right here. Pretty much telling you how hiding a car to avoid repossession, what you should know. So, in many states, all it takes to trigger the repossession process is a a default on your loan, and the harder you make it for the repo man, the more he's going to charge the bank. So, that's in fees incurred that you potentially going to be added on to you to where you're going to have to either pay to I guess trying to get the the vehicle back.

[00:13:00]They're saying knowing the laws of jurisdiction is crucial before you do anything. And it says it is a crime to intentionally hide your car to avoid repossession.

[00:13:12]And it goes to say in most states, your vehicle can be repossessed the moment you default on your loan or lease.

[00:13:20]And finally, in most states, a creditor may legally enter your property to repossess your vehicle.

[00:13:28]So, um yeah, it's pretty wild and insane. And I'm just going to go ahead and end this video. Uh just comment down below. Uh tell me what you think. Um tell me if you've if you known of something like that occurring within for you or anybody that you know. And uh thank you for watching. And I likewise don't forget to like, subscribe, and uh share this video, and I'll catch you guys later.