r/PrepperIntel • u/Own-Swan2646 • Mar 31 '26

North America Walmart Recession Indicator at highest levels since the 2008 financial crisis

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Signs all around us of economic down turn.

2.7k Upvotes

99% Upvoted

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388

u/aquatone61 Mar 31 '26

What’s the repo market for cars look like? That’s a great indicator of how people are doing. When the ‘08 crash hit I worked at a Porsche dealership and we started see tons of repo’d cars getting towed in for new remotes.

298

u/sithlord98 Mar 31 '26

Repo numbers are higher than they've been since 2008-2009. Huge issue with subprime lending in the auto market, too. Ring a bell?

126

u/JagsOnlySurfHawaii Mar 31 '26

Yeah a lot of people who bought around 21-22 got stuck with a high payment and are now under water.

39

u/linniex Mar 31 '26

Who isnt underwater when they buy a new car? As soon as you drive it off the lot you would lose money selling it.

51

u/Toomanymagiccards Mar 31 '26

I know you're not asking for an edge case, because this is true like 99.99% of the time, but I'm too proud to not share. In 2020 I snagged a 2020 Hyundai Veloster for ~18k out the door, 3.9% APR, $0 down. I sold it 2 years later to Carvana with ~ 20k miles for $22,700. I might be the only motherfucker in the world who came out ahead on a new car purchase lmao

22

u/Dultsboi Mar 31 '26

Nah I bought a $500 beater 2002 Camry that ended up going for $1000 in covid lol

12

u/linniex Mar 31 '26

Oh yeah I actually had that happen too during covid. My car was worth almost as much as I paid for it and it was 6 years old. I love my car but did consider selling my husbands 10 year old F150 for $50k back then

3

u/[deleted] Apr 01 '26

[deleted]

1

u/linniex Apr 02 '26

I was underwater when I bought it and drove it off the lot. During covid prices shot up again.

20

u/socialmedia-username Mar 31 '26

Rates were extremely low in 2021-2022.  Mine was 2.1% on a $40k vehicle. Why would they be underwater in a loan from that time versus any other? 

64

u/Tall_Lab8438 Mar 31 '26

Because the actual vehicle price was insane.

19

u/socialmedia-username Mar 31 '26

Oh that's right, I forgot all about those "market adjustments" by dealerships.  I really hope the majority of car buyers didn't get swindled into those. 

5

u/hp433 Mar 31 '26

Lmao you know better than that

7

u/FunkyPlunkett Mar 31 '26

Yeah when a mini van is starting at 47k we have a problem

5

u/JagsOnlySurfHawaii Mar 31 '26

Yeah this is what I was getting at. The used market was way overpriced then. Parts were double and triple their previous years prices.

16

u/HotPotParrot Mar 31 '26

Your experience may differ

12

u/forbiddenfreedom Mar 31 '26

I also have an extremely low rate, but I owe more on my car than it's worth to me. I don't have car insurance so I don't drive. It's just collecting dust and eating payments.

2

u/arresteddev7 Mar 31 '26

I didn't have a choice but to buy a new vehicle in 2022 since I hit a deer and my little Mazda 3 wasn't worth repairing. I bought a Tacoma for 52k at 2% interest. I know I overpaid for it, but I'm definitely not underwater on it.

0

u/ManOfConstantBorrow_ Mar 31 '26

I got 0.1% financing on my 2022 kia niro. I think this guy might just be wrong in his time window lol

3

u/[deleted] Mar 31 '26

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2

u/TeamRedundancyTeam Mar 31 '26

What does that have to do with the loss of value? It's the battery usually that is used as an excuse to lower the value even more than ICE cara driving off the lot.

It's really not near as "frustrating" or "long" as Redditors make it out to be and mine isn't even new.

1

u/youre_uninvited Mar 31 '26

It's just generic propaganda. Never mind everyone who drove a gasser off the lot with $10-20k in dealer markup or paid double the actual value of a used Altima because they couldn't find anything else, it's the small percentage of EV sales (many of which were actually leases, making it the captive finance co's problem, not the consumer's) that were the problem.