A buyer's market for cars - Reacting to DSP's New Car

Cheers like oh you could have engine damage now cherry dude that's not how it works BMW has a diagnosis computer inside of the car that puzzling things go wrong so there were engineer oh my god this guy is a living meme no there is it's not BMW has diagnosis computer in the car okay ESP talk about racing by getting his leased car and him getting a new one he's apparently under the impression they're getting a new car is cheaper than a used one wait what the vehicle to replace the incredibly expensive leased vehicle that I've had for the past three years so I'm done paying for this car now which is good cuz I'm so done with it I've paid so much money for this car for the past three years I got roped into it roped into it right now it seems to be a buyers market for cars and what I mean by that is you don't you don't even need to have like impeccable credit what a buyers market regards what does that even mean and you don't even need to have a lot of money in order to buy a car it's pretty insane the things that I'm seeing out there just some of the things idea dude he's got a 100% he's got like a friend or a guy that works at a fucking car dealership that told him this shit dude right now it is a buyers market for cars my dude or he saw it on like a fucking like radio commercial or some shit some of the promotions I've seen out there right now for buying a car number one instinct cash back okay so you're going be it is an instant cash back when they just make the loan a little bit higher and they give you a bunch of cash back like a car you sign up for a loan to get the car and they give you $2,000 that's insane I've never heard of this before disputable I've never heard of this before wait isn't cash back just money added to the loan that's weird to me like I don't know that's a lot of risk involved - I. Would um but I guess maybe your dyers market for Amazon Prime sub the rich of giving you $10,000 to take their car versus you not paying and ruining your credit permanently wait it's not a risk how is it a risk to give somebody $2,000 when you're driving a $30,000 asset off the lot what do you mean what I guessed that $2,000 is the risk that's worth that I. Don't know that's pretty crazy ah that's just rude anyway I'm not doing that it's actually one of the worst things you could do because if you do that you can't get any other other deals which is like a rebate off the car or a promotional rate killer but this guy is like this guy is like every salesman's dream what the fuck things the card car dealerships is doing it so it's like oh he's coming back okay but really this would be dumb to do I'm not going to do it's like oh okay so he does realize it was really dumb like because there are so many other great deals to take advantage o is there doing an instant rebate so okay you're buying the car and a line of RAM right and it take like thousands of dollars off the price of the car immediately as part of their promotion so yeah pretty good now the other one and this is the one that I did not know if we were going to be able to qualify for it okay 0% financing which is awesome it means for a certain amount of time on your loan for the car you're not paying any interest you're just paying down the actual price of the vehicle which is excellent get this 0% financing for 72 months that is six years that is the length of the loan that means that if you buy the new car you don't pay any interest at all they're giving you a six year payment plan basically it's not even really alone it's just like a six year installment plan with no interest it's pretty crazy man that is absolutely not at least to me you would think they would want to make some money on the back end with the financing but they're going for no reinjure ease so here's a real quick meme okay here's a real quick meme okay just so you guys know this okay so if they're generally this is my general understanding okay so I could be wrong it's my not apply to all loans for everything that I've ever seen that has 0% financing what that typically means is that you have 0% financing over a certain period of time but if you do not 100% pay it off in that time period and you go one day over all of that old interest will be added back on to your bill instantly okay be very careful with the 0% financing meme it can be really good I do it when I have the opportunity to but that's because I know I can pay my shit off in time I only ever find interestings that I can buy outright anyway and I'll only do it to take advantage of interest bullshit right so for instance when I buy things at Home Depot right if I spend over $500 whatever I have like twelve months no interest on my credit card however if you only make the minimum payment then it'll take you like three years to pay off if you wait after those twelve months all of the interest from the no interest time period will come back and be added to your bill so you make the minimum payments until the twelve months and then at the end then right at that 12 month mark you pay off the rest of the balance to avoid all of the interest just something to keep in mind so yesterday Liana and I the reason that we had to industry early is because we had to go and meet up with someone at a car dealership we had already tested Riven carnival week and we wanted them to pull our credit and run some numbers for us to see what we could qualify for could we could we qualify for any of these new promotions you know for a car and they pulled our credit and it was you know it worked if interested yeah you qualify which I was blown away I. Thought for sure with the amount of debt that I have in my name that I was not going to qualify but they said no you qualify because debt doesn't matter when you're caught when you're qualifying for loans I don't know if it's works the same with loans but like I know that when you're qualifying for a home loan two things matter one your credit will tell you your credit can be used as a bare minimum thing and credit can give you better interest rates but the big thing they look at is usually your debt to income ratio and the only only pot count like certain types of debt I think like they'll count like child support they count your mortgage payment and they'll count any like outstanding like loans or whatever but I don't know if they count like everyday expenses or whatever like you can qualify for some amazing shit with a fuck ton of debt like you can quote yeah it is very definitely possible to qualify for things you probably don't you probably can't afford you know five years ago when I first got the stupid BMW it made sense I was being seen amounts of money on YouTube now it doesn't make sense it never made sense DSP it was a horrible thing you weren't making unless unless DSP was literally banking like 10 K plus a month then maybe I mean I still wouldn't lease a car for $400 a month or whatever and then pmw to return the BMW and I forgot to jump through a key to have meetings done first I could never I will take the prequel change week old thing wait what he hasn't chased the oil in five years I'm sorry I must have heard that wrong hold on one second because I.

Never had the oil change the brake fluid changed when did in the stupid thing like I have that done and I have to schedule time we could drop it off oh boy hey wait hey that does either cover three years or five years maybe he means his last oil change hasn't happened yet do you think do you think that's what he means what do you think that's what he meant that he just hasn't chopped it off so we have the replacement car so I have a ride home so I visited the coincide I. Could be in it did I have to wait in the BMW you don't change the oil we what is that that's got to be a troll right in three years we only drove the car 6,000 miles so if that gives you any idea hey boy he leased a car for four or five hundred dollars a month and he's only drove it 6,000 miles in three years what it was really like four or five hundred dollars a month you could buy like a new bike like every hahaha I chase did I have y'all change that was because it's a whole rigamarole more about it oh no all right we're backing up a little bit oh no and by the way that wasn't my choice to not have the oil change that was because it's a whole rigmarole when we moved out here they shipped us a car across the country remember I said we had we got roped into another three-year lease that was because they wanted to make money back on the East Coast so they shipped us a car across the country so they could get the profit for it and then they never contacted us on a maintenance because you know BMW you're supposed to get maintenance for free no matter what part of the deal that's why the cars so he's never he's never changed the oil in this car in three years in 36 months yeah you can probably roll into any authorized BMW dealership and they'll honor that warranty so expensive and they never uh-huh they never contacted us to get it changed why would they contact you to change your oil hello it's DSP that we would just like to give you a call to remind you that it's time for your oil change we're going to send a driver over immediately to pick up your car what we'll drop a rental off in the mean time and we'll have that car returned back to you by the end of the day thank you sir cheers ago you could have engine damage now cherry dude that's not how it works BMW. Has a diagnosis computer inside of the car that person is all wrong so there were in Geneva oh my god this guy is a living meme no there is it's not BMW has diagnosis computer in the car okay when you would have said something they already did the pre inspection we already hadn't brought it in and they pre inspected and said there's not wrong with the car at all it's fine Christine we only drove 6,000 miles of course is Christine this hurts to listen to this is this into the mind of somebody financially illiterate he's fucking himself over what's late he's going to walk into a dealership he's gonna walk out with a fucking $30,000 loan it's going to say no interest 72 months but they're probably not going to be able to afford it they're going to miss a payment or something that's going to instantly invalidate the no interest or some shit who's going to be saddled while the interest he's probably going to walk away with tire insurance with gap insurance with which would fucking fit oil with a three year free maintenance plan how many other deals can you sucker people into or whatever with a 25-year rust warranty with a roadside assistance warranty like he's probably gonna have like 50 million things packaged on top of the math all dental insurance dollars per mile bumper to bumper coverage he could have gotten the limo oh my god I. Could help this guy financially so much yeah and then in five years he's gonna make another room we all got roped into buying this new shitty car he's such a bad financial decision dude I'm it's coming up to where probably within the next seven months I'm going to be getting a car and even I am like hardcore debating on whether or not I.

Want a newer used I would almost always advocate use but I can afford to buy a new one I don't know if that like if that price tag is worth it for me just to have a car that I can call new though I'm not sure but holy shit dude these are very highly questionable financial decisions what the fuck you dating an ally where I will never least again from now on I will always buy but anyway all the other thing is some people were like well why aren't you buying a used car we did look into that we went to a couple used-car lot no we found out is number one these used-car Lots do not do any kind of promotion with financing whatsoever no money back no money off the price of the car and high interest rates on the loans there's a fundamental problem here with DSP sinking to is DSP doesn't understand funding from a fundamental how incentivizing works okay if you walk onto a car lot and ten cars have amazing promotions and ten cars don't that tells you something about what the dealer is trying to do right if you know something that's really fucking good that's really awesome it'll sell itself right you don't necessarily need to package it with 50 million different types of promotional packages and shit right if you walk onto a lot and people are hardcore giving you like 50 million reasons to buy somewhere like I mean that's just something to think about right like well why do you need to package this with so many different types of you know special interest rate special loans like this isn't that do not stand on its own right like but I. Don't know it's just something to yeah you don't get a good interest rate on a loan for used car they don't have any of those kinds of features and they don't have any of these kinds of features its 2017 dude they started to put backwards facing cameras in a car is like in the fucking mid to late 2000 you don't think you can find a 2014 car with a rear facing camera dude I'm pretty sure 2014 cars even it's probably standard keyless entry and everything right every new feature is probably going to be in a car passed we used cars we looked at they have zero warranty okay no pre maintenance or anything for any period of time the free maitenance doesn't matter you were free man's in your BMW. And you didn't get the oil change to single fuckin time so that means he is gonna buy he is gonna buy the extended free maintenance fucking package he is going to buy like oh my god dude these are a horrible decision um if you want that you have to buy extra so there was one car we were looking at was the equivalent of what we're kind of going to get probably for new car and we did we did all the math and come to find out it's almost the same price like slightly less expensive but maybe like 50 bucks a month but no warranty 50 bucks a month but that's not how you're supposed to look at a lot any shops buy monthly payment that he is the ultimate consumer that people market their shit to this is it I just found it I didn't think these type of people existed like is this car better is this credit well this one's better it's $50 a month cheaper okay for how many more years what who maintenance but within a year will already have paid the difference between maintenance and everything else so it doesn't even make sense at all right now to get a used car unless we were gonna get like a junker like we were going to get a two three thousand dollar car that's a piece of crap I just buy it off of someone listen for lie five to ten thousand dollars you can get something extremely reliable for ten thousand dollars on a used car that's a fuckin that's a good budget for used car right for ten grand you could get something pretty fucking good holy shit like what that would be one thing but we need a car that's dependable and the car that if it breaks down we're gonna get a warranty we're gonna get a loaner look like that you're getting the lunch is getting a roadside assistance meme he's gonna be fuckin warranty the fuckin dealership will sell them on this car oh my god yeah definitely by going for a you know buying a car at least I'll have a car where I'm getting equity every time I. Pay I'm putting it no wait what did he just say hold on work every day that's the thing we have no cars you can't work an hour that were out we have no income there that we need so there you go definitely buy going for a you know buying a car at least I'll have a car where I'm getting equity every time I.

Pay you don't that's not true you don't get equity in a fucking car what oh you guys can see equity represents the difference between the value of the asset and the value of the loan okay in your favor so if I've got an asset worth $50,000 and I have a $40,000 loan on it you could say that I. Have ten thousand dollars in equity right in that car does that make sense but when you buy a car and you drive it off the lot it loses a good chunk of its value almost immediately so it will take you years and years and years to actually have any equity in that vehicle it's possible that you could have a six year loan on a car and you'll only get equity in that last year it's possible for it to happen like I'm putting value into the vehicle and it makes more sense you know you live and you learn the good news is I'm glad I did do a lease on the BMW because there's no way that we would be able to afford to buy it and imagine if I had had the car in my name right now and you know after three years you don't have a lot of equity in the car especially if you're talking out of three years you have no equity on a new car most of your money is going towards interest in the car is devalued such that you will be upside down on the loan this is why car owners always sell gap insurance which is gap insurances insurance that covers the difference between the value of the asset and in the end the conservation the value of the asset and the and the value of the loan if you've got a $20,000 loan on a 10th on a car that's not worth $10,000 you could buy gap insurance cover difference don't buy it because it's fucking retarded but through % loan right imagine now if I was like stuck with this car forever and I'm like damn there's no way I can reduce my payment that would really suck so alright everyone I think that's it I don't really have much else to talk about as you guys and gals now as I said if you do cheer tip or sub to the channel holy shit these are just the worst financial decisions a man can make and the funny thing is you know he's going to buy some retarded fucking shit they're going to get a sports car with like some crazy low suspension he's gonna be dragging this fuckin bumper around everywhere he's going to have like the rear pro the super thin profile fucking tires and shit it's going to be an uncomfortable stiff as fuck ride that's just for a daily driver to work or some shit like oh my god what the fuck this is like watching a disaster unfold live this is ice Poseidon tear financial intelligence I don't agree because Isis an innocent typically isn't usually stubborn about his financial stuff he's usually like pretty you should reach out and talk to him he blocked me on Twitter instantly I. Don't think he's way too stubborn but like I don't think he'll ever want to have a conversation like I'm not gonna reach out to him after he blocks and Twitter you guys have that if he wants to like I'm pretty sure that a combo with me will get him more viewers than like he normally ever has where it doesn't normally only get a couple hundred viewers so maybe you could swing it to him like financially like hey destiny will talk to you and you're good a ton of viewers doing it and people donate or differ but like his um yeah these are just horrible horrible horrible like the the type of conversation is having here demonstrates a financial illiteracy that is astounding to me like holy shit especially because it's compounding the financial troubles he's already experiencing in life due to his um the YouTube shit getting fucked everything definitely wants to know tell him I just want to talk about buying a car listen hey we should chat about car keys thing use first new cars at some point I. Think I can offer you high a valuable different point of view that could save you a ton of money in the future I'm pretty sure the only way you're going to bait him is if you say something like I.

Have ten top tips that car sales people don't want you to know he's ignoring the bits now lemay oh wait really now that you won't talk to him tell us why buying a used car if people don't want to go deep into a mechanic and leave the car there for three days for checks for buying it I don't think it's really safe to buy a used car against a new one that will be perfect okay listen dude this is a huge mean that onions I don't see uneducated as on true but there's a huge mean that uneducated people say cars are extremely resilient cars are incredibly resilient okay cars are made to be used by the average fucking idiotic driver that's how resilient cars are made okay we just listen to DSP not getting an oil changer in this car for three fucking years all right like cars are meant to be used by people that do not take care of them okay they don't change the oil that drive on flat tires they'd let the check engine light run 24/7 right cars are very very resilient things if you're getting a car that's two years used it's not going to be fucked up there's just unless somebody's literally like dirt like Derby racing with it or some shit like there is no way that like you're gonna buy it to your used car that's already got like a fuck ton of horrible ground as long as you're buying some reliable shit it'll be fine dude oh my god so do you remember listening to Diaz he's rational and leasing a car ah no oh well he leased a new car for pretty much all the dumbest reasons you could ever lease a car for right and I might have you might have mentioned something about it okay I'm at about a lot right well apparently now just recently that lease expired and he's talking about how horrible it was he hasn't changed his oil in three years on this car he's never ever brought it in for service and his reason was because the guys didn't call him to tell him when to bring it in or whatever it was like just really retarded shit so now he started talking about how he's finally going to be out of this leasing he's so happy and now he wants to go buy a brand-new car okay because buying used is dumb and if he buys a brand-new car you saying about like they've got these crazy things because it's a buyers market right now for car one and he's like you can get $2,000 cash back I don't even know how they can do deals like this they give you $2,000 cash to buy their car if this guy never watched commercial legit and then he's like talking about like and I. Could get a used car but like if I get a new car it's literally like $50 a month difference oh my god it was like all the classic these these are like all the classic consumer mishaps for finance like I didn't even know these people existed but like holy shit what are you talking about everyone only cares about the monthly famine nine years is that a car no one knows god he sounds like he sounds like he's going to get like all the insurance on it like the roadside assistance the every piece of extra insurance you combine it like oh god I. Bet they love him dude how do you go three how do you go three years without an oil change he just does that like how honest I. Can't read the change oh yeah okay what did he say he said something like he was like Cheerios like oh you have engine damage not cherry dude that's not how it works BMW has a diagnosis computer inside car you go oh my god oh my god.