440 Credit Score.....Wants $158,000 limited edition Hellcat.

Hinzugefügt: 2026-06-02

[00:00:00]this car like last Friday. The sale price is60,000.

[00:00:05]>> $60,000 for a 2020 C300.

[00:00:08]>> Yeah.

[00:00:09]>> Retail he said was 39.

[00:00:11]>> How many miles are on it?

[00:00:13]>> 60,000 m on it.

[00:00:14]>> No.

[00:00:17]Or a used 2020 C300 with 60,000 miles.

[00:00:26]You could probably you could get those around the 20,000 range. We're just a couple seconds in and she's already down like 40 grand, right? Flushed down the toilet.

[00:00:36]>> Is that the price after the finance charge and everything? There's no way they charge you $60,000 for a 2020 C300.

[00:00:42]>> The sale price, total cost of your purchase credit, including your down. I didn't put anything down. 16,318.

[00:00:50]And then total of payment is 59.

[00:00:53]>> You're looking at your finance contract, right? I saw that you have 11.6%. So that's not what you bought it for.

[00:00:58]That's the truth and lending form. What was the total price of the bill of sale?

[00:01:01]>> I don't know where to look for that.

[00:01:02]>> Can you reset?

[00:01:03]>> She's reading her own contract for the first time is what it seems like right now live on video. She signed something that she never read. Obviously, that's how pretty much dealerships get you.

[00:01:18]They just bury you in all this paperwork until you just sign. You know, you're ready to go.

[00:01:23]>> Send it again so I can check it. So, you bought the car for $42,763, which honestly is outrageous for a 2020 cuz those go for $17,000 all the way up to 22,000. I don't know how they got you at $42,000. This is why it's important to make sure you know what you're getting yourself into cuz if not, you'll get taken advantage of. So, it's saying that the car was listed for $36,215.

[00:01:47]Listed at 36 when it should have been roughly around the 22 range. They definitely got her on the prize before the fees even started.

[00:01:58]>> They gave you 20,400 for the vehicle and then that left you an unpaid balance of $35,755.

[00:02:06]The total pre-dely delivery service charges including the electronic registration was $1,500 bucks. And then your GAP insurance they charge you was $1,500. And then your service contract was $3,000. Your theft deterrent was 500. So they have about $6,000 in fees.

[00:02:22]So that brought you up to $42,76329 which is honestly absolutely crazy. This >> listed at 36. There it is. $6,000 in fees. Service contract, theft deterrent, gap insurance, all this extra garbage that you do not need. You know what theft deterren usually is? A sticker.

[00:02:47]Every single one of these is negotiable.

[00:02:50]You know, always ask for the breakdown, guys, before you sign. And if they won't show you that, then just simply walk out. You know, the next dealership will is more than willingly to take your business if these guys are not going to be transparent with you. Always remember that. Shop around then compete for that price to get the best price.

[00:03:14]>> Right around 27,000, maybe 28,000. The total price of the vehicle is $46,000, which is almost $20,000 more than what the vehicle should be listed for. What are you trying to accomplish right now?

[00:03:24]>> I need to trade this car. Get something that is like kid-friendly.

[00:03:28]>> But the problem is you just bought this car. Unfortunately, you wouldn't be able to just back out of it. You'd have to get it appraised again, go get a trade in, etc. >> So, what should I do? I should just wait for a little bit, make few payments, and then trade it.

[00:03:40]>> The bad thing is the more you hold on to this car, the more it's going to depreciate. You didn't understand what you were getting yourself into. I'm not shaming you. Sister, don't get me wrong.

[00:03:48]This is a >> learning experience, right? The vehicle is definitely overpriced. We have to do our due diligence to make sure that we're buying something smart.

[00:03:54]Unfortunately, sister >> now she wants to trade it in and she can't. She owes 42,000 on a car worth 22. That's called being underwater. And if she trades now, that gap just follows her into the next loan. And the only move right now is to sit tight and wait.

[00:04:12]hopefully. I mean, really, your best bet is a private sale to get hope, you know, the max that you possibly can. But, uh, you know, obviously dealers need to make money if you're going to try to sell it to a dealer or trade it in because they go by the market and all the time they will go for the wholesale market value.

[00:04:31]I mean, guys, this happens every single day. Nobody teaches you this. Hopefully these videos will check the value on the Kelly Blue Book before you go. Get preapproved at your bank first and never look at the monthly payment first. Look at the total price, mainly the out the door price. And if the dealer isn't willing to provide that, keep it moving.

[00:04:54]There's another dealer that will happily accept your business for the right deal.

[00:05:00]All right, we're going to be cold calling a customer that inquired about a uh Dodge Hellcat, one of the Black Ghosts.

[00:05:08]>> Hello, this is Terry.

[00:05:09]>> Hey, Terry. This is Alex Earth Motorc Cars.

[00:05:14]>> Hey, what's going on, man?

[00:05:15]>> What's up, man? Hey, just giving you a call about this uh 2023 Black Ghost Challenger that you inquired about, the one that's one of 300, and just seeing uh seeing if you had any questions of what I need to do to earn your business.

[00:05:27]>> Yeah, man. I have been looking at cars like that before. Uh this is Alex from uh Earth Motor Cars.

[00:05:33]>> Yes, sir.

[00:05:35]>> Oh yeah. My my my nephew watches you on uh uh in uh Tik Tok.

[00:05:40]>> Yeah. That's awesome.

[00:05:41]>> Moving moving merch.

[00:05:43]>> Yeah. Yeah. Yeah. Yeah.

[00:05:44]>> Watch those videos and uh he's local so he he been to y'all shop and everything.

[00:05:50]See all the moars and everything y'all got.

[00:05:51]>> Yeah.

[00:05:52]>> So >> would you be paying cash or financing this car?

[00:05:57]Uh this one, this particular one I'll be financing.

[00:06:00]>> Okay, awesome. And how much money were you planning on putting down and what's your credit like?

[00:06:05]>> The salesman goes straight past the price question and jump straight to the credit application. I mean, these are not things that are like accents or anything. They want to know what they're working with before you give them numbers. So, you know, you don't waste your time and you don't waste their time, right?

[00:06:22]>> Uh what can you do for me on the call? I see online that car was listed at like 140,000 or something.

[00:06:28]>> Yeah. 1589 it's online for. Again, there's only 20 miles on it and it's one of 300. Um Terry, I'll be honest with you, I don't want to negotiate against myself. I definitely have some room in it to work on it. Um but you know, I want to get to the credit application first, make sure that we're good to go with the banks and whatnot and and then go from there. Does that work with you?

[00:06:48]>> Yeah, I mean I mean whatever gets me into the car like >> Yeah, absolutely. I mean, if I if I like it, if I if the numbers sound good, then I'm I'mma leave that car. I'mma leave with that car. So, okay. That's what I'm saying.

[00:06:57]>> Do you know what your credit was the last time you checked by chance? Just before we do a credit application?

[00:07:03]>> Um, yeah. I I checked earlier this year.

[00:07:06]It was like about about 400 440 >> 400 credit score while you're trying to finance a $158,000 car, bro.

[00:07:20]A 400 is pretty much bottom of the barrel. Most banks, they're not even looking at you until at least you have what, like 580 and above. Yo, this call is about to get interesting.

[00:07:34]>> About 400 440.

[00:07:37]>> It the little creepy.

[00:07:42]>> You're saying you're saying it was I'm sorry. You said I'm sorry. You said you said 400.

[00:07:49]The salesman can't even keep it together. I wouldn't I wouldn't be able to either.

[00:07:55]>> Yeah, that you asked for the credit score, so I'm telling you.

[00:07:59]>> Um, yeah, that's no problem. Do you know how much money you were planning on putting down?

[00:08:05]>> I mean, for some for something like the vehicle that I'm interested in, probably something like 10 15,000. I can I can come up with that for sure. Like money ain't a problem. So, >> yeah. Let me look at this again. I mean, I'll be honest with you, Terara. I'm just going to be blunt. You'd probably have to go the lease route with it. Um, and probably at minimum 20% down.

[00:08:26]>> You saying like >> 20% down in a $158,000 car is about 30,000. I did the math. Is about $30,000 minimum. Dude is talking about 10 to 15. And now the salesman is pushing for a lease, which means pretty much you're renting the car. You're not going to plan to own it for the most part.

[00:08:51]>> That I'm I'm going have to lease this car is what you're saying >> with with the with to get to where you want to be. Money down. Yes, sir.

[00:09:01]>> Let me tell you something, Alex. Like I I I bought cars like this before and I ain't never had to lease nothing. Like if I'mma buy a car, I'mma own it is what I'm saying. So, >> no, I get what you're saying. I mean, if you're trying to do for this vehicle, >> yeah, if you were financing, you'd still be technically it'd still be the banks technically speaking. Um, >> never I I'm going be honest with you. I never had to do anything like this with my previous cars. Like, I got a Bentley Continental and I ain't had to do I ain't had to do nothing like that. Okay.

[00:09:26]That one. So, >> how is it a older car? Was it a less expensive one than 158 or >> I mean, I don't know what you mean by less expensive. It's a Bentley, but I mean it's a 2008 Bentley Continental, but uh >> Okay, >> the dude says, "I got a Bentley and don't have to do none of that, bro." I mean, some pretty cheap Bentleys I've seen for like $10,000 nowadays.

[00:09:50]Uh 2008 Bentley is a completely different price point and a completely different credit conversation. That was then. This is brand new. $158,000 limited edition. It's not the same, bro.

[00:10:05]More mouth than pockets, pretty much.

[00:10:09]>> But sometimes it's not. We just had to repo this car from a customer. Uh they didn't make their first payment. Bank issued a buyback. So, uh we had to buy this car back. We repo it last night, but luckily we were able to recover it.

[00:10:19]And uh let me show you guys the car and tell you a little bit more about the story. So guys, it's been about 45 days since we sold this car. They missed our first payment, so we had to repo the car. They repoed this car 45 days after selling it. This dude didn't even make his first payment. Not one. The bank called it a first payment default. And that's it. Boom. See you. Bye. Um, the tires are pretty much shot right here.

[00:10:43]And if you come around, here's the damage. This car was sold 45 days ago.

[00:10:49]It was in super mint condition. And look at the condition of vehicle right now.

[00:10:53]This is a mismatched wheel. I don't know what the other tire is. Hopefully, it's in the trunk. But, uh, yeah, man. So, if you go to the inside, it's pretty dirty.

[00:11:01]Um, these are the original mat covers that we had. It's filthy inside. I don't know what that Look at the condition of this. It's like it's been owned for a year by a farm animal. Mismatched tires, damaged, filthy inside. This is somebody's credit destroyed.

[00:11:19]A repo on their record and they got nothing to show for it. I mean, kind of tells you how they treated the vehicle, right? Kind of tells you how they treat their life. You know, when they say don't judge a book by its cover, sometimes that cover kind of tells you quite a bit. Just saying.

[00:11:35]>> Is it kind of stinks as well, but dazzled steering wheel? If you look at the back here, there's some trash.

[00:11:41]>> Luckily, our toe guy was able to recover the key, so that's a plus cuz these are pretty expensive. And yeah, so that's what we got to deal with on still got our sticker on there. That's good, right? So, some advertising. All right, so looks like the wheels still back here. Some sort of vase. Oh, nice. It's a free uh air mattress for for us.

[00:12:00]So, you got to love the car business.

[00:12:02]And again, uh a lot of banks whenever uh you lend with them, third party lenders, they have a first payment default where if they the customer defaults in the payment, we have to recover the vehicle.

[00:12:11]And luckily, we're able to get this one fairly quick. I mean, here's what most people don't know, guys. A repo doesn't just mean you lose the car. It stays on your credit report for like up to seven years.

[00:12:24]Seven. I mean, try buying a house or renting an apartment or financing anything that they're reposting on your record. It just follows you everywhere.

[00:12:33]So, it's best to, you know, be accountable when you're paying with credit and not get in a situation like this because trust me, it's always a regret later.

[00:12:45]>> The bank issued a buyback letter. I went ahead and called a repo guy. Cover the car. You got to move fast. As soon as the customer knows that the car's up for repo, they may try to hide it. they might try to put in a garage or something.

[00:12:56]>> The bank moves real fast. I mean, that's something that's their property currently. So, um, the second you default, they're sending the repo man out. They're not calling you, they're not working with you, they're coming for the car. And the part nobody thinks about is when they sign the paperwork.

[00:13:14]Think you can just hide it. You might be able to for a couple weeks, months, they're going to eventually get it. Uh, luckily we were able to get this one fairly easy. So, yeah, guys. Um, going to fix this car up. I don't know, maybe send it to auction, maybe just retail it again. We'll see. Anyways, guys, if you want this car, might let it go for low.

[00:13:31]This is what happens when you buy a car and you can actually afford not just the monthly payment, the full picture, the insurance, the maintenance, the registration. I mean, life's happening continuously. You got to be prepared for anything that could happen out of the ordinary, right? Out of left field is what they say. If buying that car means this one mispayment can put you there, you're not ready to buy the car, you know, just buy smart. I will always advise that get a cash car and learn to do some work yourself when it comes to maintenance. You will be surprised at how simple a lot of the repairs can be.

[00:14:11]But hey, let me know in the comments section down below what you guys think.

[00:14:14]Have you gotten a personal repo yourself or you know somebody that has made that decision of purchasing something and not think about the tomorrow? Drop it down in the comments. I want to hear all your guys' stories and you know from personal experiences. Hopefully help each other out not to be in situations like this.

[00:14:33]So, but hopefully you guys enjoyed this video and if so, please give it a like.

[00:14:37]It helps the channel out a lot and I will catch you guys on the next one.

[00:14:42]Peace.