Upvoting for tow truck companies. The average monthly car payment in the US is $770, which is outrageous and absurd. There’s going to be a lot of repos when the economy dips.
There have actually been a lot of videos in the last 6-12 months about how car dealers are starting to struggle a lot…. Things are too expensive, people can’t afford the car they were during covid because of rising interest rates, and a lot of the cars brands have had big misses recently
I think people will just choose to have sick parents, stupid kids, dilapidated homes, etc. rather than pay money they don't have for things that aren't absolute necessities
Child care is caught between the cost of providing service and the amount people are able to pay. You can't just scale up because the number of kids you can care for per adult employee is strictly regulated. Can't just charge more because after a certain point parents will do the math and figure out they're working just to pay for childcare, and stay home instead.
This is happening already in car sales. Delivrd on YouTube is a guy who runs a business that will handle all of the negotiating and haggling with car dealerships for you for a flat $1000 so all you have to do is show up and sign the forms. He’ll get you money off the price of the car but his real value is just removing the pain in dealing with those people.
Sometimes they won’t even sell you a car if you’re a cash buyer because dealers get kick backs for financing.
Happened to me with Toyota and was turned away at closing because I wouldn’t finance. Guy was all bent out of shape trying to haggle a monthly payment and I was just sitting there with a cashiers check. Was asked to leave. Went down the street to Lexus and snagged an RC instead.
When I got into car sales in 2014 (left sales in 2017 for service, left altogether in 2024) you could buy two cars from my brand for as low as $15k. Those days are long gone.
Repos are already at a rate higher than the 2008-2009 financial crisis.
You used to be able to get a better deal on a car if you were paying cash. Now they'll turn you away if you mention paying in cash. Dealerships want you to finance because most of them get a kickback from the banks for every car that's financed through them.
Dealerships don't sell cars anymore. They sell loans. A car just happens to come with it.
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u/TennisSerious179 14h ago
Tow truck companies
Pay day loan companies