If you live in the US or many parts of Canada that aren't urban areas, you need a vehicle. There's no doubt about it. Public transportation is simply not good enough. There's little to no chance that it will ever be suitable for anyone's mobility needs. So, if you're born in North America, there's a high chance that you'll need a car.
And they don't come cheap nowadays. Fortunately, lenders are still willing to help you out. However, they won't do it out of the goodness of their hearts. They need to make a profit off qualified borrowers, and they will always win in this respect. It doesn't matter if the dealer's rate is zero percent. Someone is still paying the entity that's putting out the cash.
Right now, you could finance 2024 model-year rides like the Ford Edge, Nissan Titan, Toyota Tundra, Subaru Solterra, Kia Niro EV and the EV9, or the Hyundai Ioniq 5 with no worries about any interest. Just be careful with those MSRPs, dealer charges, and trick fees. You don't want to end up spending more than needed or stay locked in a loan for longer than you wish.
Oh, and also, make sure that the ride you're picking isn't the one you didn't want. The Toyota Tundra, for example, is available in both pure ICE and hybrid variants. The big difference is that the latter has a starting cost of almost $69,000, while the former is nearly $18,000 cheaper. Per RealCarTips.com, there's a term difference, too! The Tundra can be had with a 36-month interest-free loan, while the Tundra Hybrid will extend your payments by 12 months.
Come to think of that, there's yet another thing you should seriously consider: staying solvent over the contractual period. Otherwise, you could become a target for multiple people and institutions.
First, they will call and email you because there's generally a 10 to 15-day grace period. Second, they will charge you late payment fees. Third, your credit score will be affected. Next, they will take away your car and make you pay for the repossession. That's where the repo man or the repo woman comes into the equation.
Photo: Life with Eb on YouTube
Today's star is someone who decided to show the world how a repossession agent navigates the universe of returning cars to their rightful owners – the bank or the credit union. His name is Eben Reed. The Ohio-based man captured people's attention on Instagram and TikTok. Tens of millions of people have seen his videos, which show just how swift he and his team can be when they have a target.
One of his most popular videos, with almost 27 million views, is available below. It shows him picking up a GMC Sierra from a detailer's shop. Talk about a clean getaway, huh?
Many netizens claim he's cold-hearted, but what they don't know is that the man is just doing his job. On multiple occasions, he has helped people who, in one way or another, turned their loans delinquent. Even though his videos picture a ruthless repo man in action, Reed isn't doing it only for clout. He has explained on several occasions how others can start a similar business and was even transparent about how much he's making.
Finally, people have also been wondering how these fast pickups could be possible. Typically, the repossession agent must be sure that there's nobody inside before trying to get a car back to the lender. The trick is simple: he has a team. So-called "spotters" are making sure that a pickup is feasible way before he comes any close to the ride in question.
But whatever people might think of him, Reed has claimed on multiple ocassions that becoming a repossession agent helped him turn his life around. If you don't want to meet him or become his target, don't miss car payments!
Car shows on TV and his father's Fiat Tempra may have been Florin's early influences, but nowadays he favors different things, like the power of an F-150 Raptor. He'll never be able to ignore the shape of a Ferrari though, especially a yellow one. Full profile
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