➡ Dan from I Allegedly warns that many people are in debt due to car loans, with over 30% of cars turned in having negative equity, meaning they owe more than the car’s worth. He advises against borrowing money to buy a new car, as it’s leading to financial instability. He also mentions a rise in repossessions and predicts an economic downturn. Lastly, he shares a personal story about his assistant’s struggle to find a job, reflecting the current tough job market.

Hey, it’s Dan. Welcome back to I Allegedly. I’ve got a good one for you today because this statement has never been truer, ever, and that is you cannot borrow yourself out of debt. Car loans are at an all-time high and the numbers just came out and this is staggering of what we’re going through and what we’re experiencing right now. Please like, please subscribe, and you want to get a hold of us, use the email IAllegedly at gmail.com right now. Now, auto loans. We just got the numbers for the fourth quarter of 2025 and the number, and I got to make sure I’m accurate on this, is that the average car loan, when it was turned in with the dealership, the majority of the loans, you know, when people go and they buy a car, the number of people, excuse me, that are having negative equity, meaning they owe more in their existing vehicle than it’s worth.

That figure was a staggering $7,214. Whoa! 30%, over 30% of the cars that are turned in have negative equity. Well, guys, no one’s following any economic advice right now because you guys are completely upside down in your payments. This is a horrible way to live right now. It is absolutely awful. You do not need to drive a new car. You know, I spent what, six, seven weeks looking for the car I just bought and I didn’t finance it and I paid cash for it, okay? Now, I’ve got a friend of mine who is the car buying guru and I had his help and we looked and we did a lot of investigation, but you know, no, no, no, no, no, I can buy what I want too, guys.

I could afford a payment. I don’t want a payment. So, more than one quarter are upside down, okay? 27% more of those people are upside down over $10,000. Over $10,000 more than the car is worth. I have a meeting up here in Reseda, California, so I am at a park. But, guys, this is just staggering right now. It’s absolutely catastrophic that people are out borrowing money that they don’t have to try to get themselves into a new vehicle. I want to tell you this, okay? No one cares what you drive.

No one cares. They really don’t. If they do, they’re the last people you should ever have anything to do with it. There is a woman out there that created an app. She’s created an app and the app is to prepay for dates. You don’t understand what dating is like. Well, I do. As a single man, I get what it’s like to date, and you take somebody out on a date. Well, women have expenses. Women have to get their hair done. They’ve got to get their nails done. And what this woman is setting up an app that you prepay in advance to go out with her.

What’s your budget? Tell me. Well, that sounds like prostitution to me, okay? But, hey, what do I know? Anyways, I understand, and I am a traditional man that pays for everything. So, once again, guys, the world is twisted. The world is you should pay, you know, before you get to know this person to find out if she’s a psycho with nine kids or not, you should send her money so that she could get herself ready. Man, it’s crazy. It’s crazy. Let’s get back on track with the automobile thing right now.

Trust me, the stuff you guys send me, the stuff I can’t talk about, man, oh, man, oh, man. It’s good stuff. The other thing about this is that with 30% of these people, oh gosh, 30%, $7,214. You got all these people at $10,000. Typical trade and behavior is colliding with prices and higher costs. People do not have the money to manage buying a car right now. They just don’t. The financing right now, interest rates are higher. Car dealerships are getting more and more desperate, coming up with more creative ways to finance people.

And one of the most interesting things is we will extend your first payment. How long? 30 days, 60 days. How about 120 days? You don’t have to pay for this car for four months. The repossessions are going through the roof right now. I am telling you, this is an economic downturn that we are about to fall off a cliff on. When you have zero down real estate, which is what we’re experiencing right now, you could go buy a house without any money down. That could happen. You could go buy a car and you could go put the payments off for four months if you wanted to.

Go do it. What’s gonna happen in May? You won’t have the money to pay for the car. That’s what’s gonna happen. So, Cox Automotive did a study. Edmonds did a study. All these are great. When you get a news story, nothing is better than going to where the source of this information came from. When these people go out and they have the analyst put things together, they don’t want to admit how bad things are. We just got one of the worst job numbers in 50 years. Oh, really? Yeah. Well, hiring is off.

People don’t want to pay people. My assistant got married and moved from Orange County to San Diego. She has been on almost 30 interviews. 30 interviews. Hasn’t gotten a job. I finally got somebody that reached out and wanted to do a reference check for her. I’m like, yeah, give me a call. She’s fantastic. And again, because she moved almost, you know, 80 miles from me, it makes it logistically impossible for her to work directly with me. She still does all this stuff on the phone. She can still do things via the internet and, you know, work on the video site and do everything that she’s doing.

But she cannot come into the office. It’s just not possible to do that anymore. But this is a gem. This is somebody that’s not of the caliber of, you know, somebody that’s gonna, you know, punch a clock. This is somebody that’s, I mean, it’s a big loss. She’s been my best assistant ever in my life. So she can’t find a job right now. My brother sent me a story that I didn’t believe at first and I thought this is insane because it’s just going backwards. I was originally going to do this video on this topic because this is insanity.

This is where things go upside down. I hate certain grocery stores and that’s a strong word to use. But I don’t like to pre-register my credit card and we have the digital basket and your cart that’s already programmed to you. So whatever goes in there and slides out the door, we’re going to charge you for it. No, I don’t want to do that. No. I want to ring it up. I want to see what things are. I want things to be rang up and I want to be able to see if I want something for $9.99.

I want to make sure it gets rang up for that. It’s that simple. Again, this is going backwards. The world’s largest store at 229,000 square feet is going to be opened up by Amazon. It’s going to have all the Amazon products for a retail store. It’s going to be the first of its kind. Isn’t that amazing? What an innovative idea. A grocery store, shopping store, clothing store, everything. 229,000 square feet. It’s huge compared to what a Walmart is. And Walmarts are huge. The Walmart Super Stores are massive. This is going to put them to shame and be, you know, four and five times the size of those stores.

They’re going to have everything there. But they’re going to do this in the Chicago area. Now, everyone I’ve told that to, they’re like, Chicago? With all the crime? Yeah. Isn’t that great? That’s where they’re open at the first store. I thought it was a joke when he told me to sit first, but that’s what they’re doing. So things are upside down, guys. Now we’re going to go take an online platform and have a retail store for it. Isn’t that going to be great? The Amazon fresh stores are not working.

They’ve had to revamp those. Amazon bought Whole Foods, which has been a good thing because you can use your prime and you can get discounts and they have certain brands that are fairly good deals. I just love the stores because they have everything and they have, you want to get cheese? They’ve got a cheese expert there. They have a smoker inside the one that’s near my house and they will do everything for Thanksgiving and for the next big holiday, I guess, is Easter. They will smoke hams. It’s just going to be fantastic and you don’t have to deal with the nonsense of cooking that stuff yourself, but they’ve got these professional people and if you say hello, please, and thank you to these people, you’d be surprised what they’ll do for you.

So but again, Amazon is going to go backwards. You need to spend 2026 doing one thing and that is getting yourself out of debt. Go out, get yourself medals. I am of the ilk that silver can go up $5 in a day. It can drop seven. It can go up two. I am telling you this right now that there is not enough industrial silver to match what’s going on in the world right now. We have a private channel called new private channels called IL Edgily live and it’s uncensored and I love doing that content.

We’re on Roku. We’re on the app store. We’re on a lot of cool stuff that I’m going to start promoting more and more because I get people, oh, I’d love to watch your private stuff, but we have a Roku TV. Well, good. Go get it. Go sign up for it. So it’s there. Don’t forget the video site, newvideos.com. That’s doing really well and if you want to email me, it’s illegedly at gmail.com. Again, just a short video today, but fix your finances. Fix your life. Look at what bills you’re spending. Look at where you’re wasting money right now and do yourself a favor and get yourself cleaned up.

Get an emergency fund, save money, get yourself out of debt. These people that have car payments of 1,200, 1,500, you know, I get people that brag, oh, my car payments 2850, you’re in, you’re a fool, okay? No one cares. No one cares. California, you have a big problem where this state is completely upside down financially and they do not have any money. So what’s the next creative thing that they keep doing is they keep trying to have per mile car registration. So today, I drove 64 miles to get to my meeting, so I would be paying more than that.

Now, I already drive in over 40,000 miles a year, so I’m paying gas tax that none of you are paying for. Registration on my car, you know, but they want to charge you next to two and three cents a mile. You know, you can sit there and say, it’s no big deal. Well, today, that would have been, what, $18 more to drive here today. It all adds up, guys. It all adds up. Get yourself out of debt, buy a used car. I met a man over the summer who told me the greatest thing he ever did was when they went and looked at a new car was they bought a used car and did not get themselves into debt.

And I believe his name was Dean and he and his wife had met at a music festival in East California. And again, the guy is living the dream, but he’s traveling. Well, we save so much money every month. Yeah, of course. Let me know what you think about this. Read the stories below because the numbers are staggering and they’re not getting better. What do you crash out at? What do you sit there? Do you need a $50,000 car? Who does? Nobody does. Let me know. I allegedly a Gmail is a temporary email.

I’ll see you very soon. [tr:trw].

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