{"version":"1.0.0","episode":{"title":"Banks SCREWED The Car Market (INSANE DATA) | Episode 943","url":"http://getcarcurious.com/episodes/banks-screwed-the-car-market-insane-data-episode-943","audioUrl":"https://pscrb.fm/rss/p/mgln.ai/e/1385/pdrl.fm/3359a6/injector.simplecastaudio.com/14b42e71-1f9c-41b2-944f-bc8f2b3a3cb9/episodes/eb2024af-676c-499b-8b25-17dcd7780a7d/audio/128/default.mp3?aid=rss_feed&awCollectionId=14b42e71-1f9c-41b2-944f-bc8f2b3a3cb9&awEpisodeId=eb2024af-676c-499b-8b25-17dcd7780a7d&feed=gkrQ6WSC","description":"Today on CarEdge Live, Ray and Zach discuss the latest auto finance data and how it is harming consumers. Tune in to learn more! Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com\nfor information about our collection and use of personal data for\nadvertising.\n"},"annotations":[{"startTime":190.7,"endTime":216.6,"type":"term","title":"negative equity","url":"/glossary/negative-equity","quote":"Okay, negative equity. Let's just say you have a vehicle that you own that's worth $10,000. Unfortunately for you, you still owe $16,905. That difference between what it's worth and what's owed, that's negative equity.","canonicalId":"term:negative-equity","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Negative equity occurs when the amount owed on a vehicle loan exceeds the vehicle's current market value. This situation can arise if the vehicle depreciates faster than the loan is paid down, leaving the owner in a financially disadvantageous position.","simplifiedExplanation":"Negative equity means you owe more money on your car than it's currently worth. For example, if your car is worth $10,000 but you still owe $16,905, you have negative equity of $6,905."}},{"startTime":228.0,"endTime":230.2,"type":"term","title":"used car shortage","url":"/glossary/used-car-shortage","quote":"...there was a used car shortage, or there was a new car shortage, excuse me, which saw used car prices go up significantly.","canonicalId":"term:used-car-shortage","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"A used car shortage refers to a situation where there are fewer used cars available for sale than there are buyers. This can lead to increased prices for used vehicles, often driven by high demand and low supply.","simplifiedExplanation":"A used car shortage means there aren't enough used cars for people who want to buy them. This can make prices go up because more people are looking to buy than there are cars available."}},{"startTime":230.2,"endTime":232.2,"type":"term","title":"new car shortage","url":"/glossary/new-car-shortage","quote":"...there was a used car shortage, or there was a new car shortage, excuse me, which saw used car prices go up significantly.","canonicalId":"term:new-car-shortage","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"A new car shortage occurs when there are not enough new cars available for sale, often due to production issues, supply chain disruptions, or increased demand. This can result in higher prices and longer wait times for consumers looking to purchase new vehicles.","simplifiedExplanation":"A new car shortage means there aren't enough new cars for people to buy. This can happen if factories can't make enough cars or if many people want to buy them at the same time."}},{"startTime":240.2,"endTime":242.62,"type":"company","title":"Edmunds","url":"/glossary/edmunds","quote":"...and Edmunds does a great job every single quarter","canonicalId":"company:edmunds","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Edmunds is a well-known automotive research company that provides information on car pricing, reviews, and market trends. They offer resources for consumers to help them make informed decisions when buying or selling vehicles.","simplifiedExplanation":"Edmunds is a company that helps people learn about cars. They provide information on how much cars cost and reviews to help you decide which car to buy."}},{"startTime":365.9,"endTime":369.2,"type":"term","title":"loan to value ratio","url":"/glossary/loan-to-value-ratio","quote":"...they'll approve you for up to 150% loan to value ratio, which means you could get approved for an auto loan that you previously shouldn't have been...","canonicalId":"term:loan-to-value-ratio","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Loan to value ratio (LTV) is a financial term used to express the ratio of a loan to the value of an asset purchased. In auto loans, it indicates how much of the vehicle's value is being financed compared to its purchase price.","simplifiedExplanation":"Loan to value ratio shows how much money you're borrowing compared to how much the car is worth. A higher ratio means you're borrowing more money relative to the car's value, which can be risky for lenders."}},{"startTime":386.5,"endTime":394.7,"type":"term","title":"average car payment","url":"/glossary/average-car-payment","quote":"...The average car payment today is about $760 for a new car. So add $140 to that and that takes you up to $900.","canonicalId":"term:average-car-payment","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The average car payment refers to the typical monthly payment made by consumers for auto loans. This figure can vary based on factors like loan terms, interest rates, and the price of the vehicle.","simplifiedExplanation":"The average car payment is how much most people pay each month for their car loan. It can change depending on how much the car costs and the loan details."}},{"startTime":738.02,"endTime":742.64,"type":"car","title":"Mazda Cx5","url":"/cars/mazda/cx-5","image":"https://upload.wikimedia.org/wikipedia/commons/8/85/2017_Mazda_CX-5_%28KF%29_Maxx_2WD_wagon_%282018-11-02%29_01.jpg","quote":"...where they had a Mazda CX-5 that they liked. Their car payment was $625 a month","canonicalId":"car:mazda:cx-5","priority":0.5,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The Mazda CX-5 is a compact crossover SUV known for its stylish design, comfortable interior, and sporty handling. It offers a good balance of performance and fuel efficiency, making it a popular choice among families and individuals alike.","simplifiedExplanation":"The Mazda CX-5 is a type of SUV that is smaller than a full-size SUV. It's known for being fun to drive and having a nice interior, which makes it a good option for people who want a practical vehicle.","imageAttribution":"EurovisionNim (CC BY-SA 4.0)"}},{"startTime":1102.6,"endTime":1103.98,"type":"car","title":"Honda Accord","url":"/cars/honda/accord","image":"https://upload.wikimedia.org/wikipedia/commons/a/a9/HONDA_ACCORD_%28CP1-CP3%29_China.jpg","quote":"...you're in an equity position on your vehicle. So you have this 2024 Honda Accord with 112,000 miles on it.","canonicalId":"car:honda:accord","priority":0.5,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The Honda Accord is a midsize sedan known for its reliability, spacious interior, and strong performance. The 2024 model continues to build on this legacy with modern features and technology.","simplifiedExplanation":"The Honda Accord is a popular car that many people choose because it's comfortable and dependable. The 2024 version has new features that make it even better.","imageAttribution":"Dinkun Chen (CC BY-SA 4.0)"}},{"startTime":1771.1,"endTime":1773.7,"type":"car","title":"Honda Pilot 2015","url":"/cars/honda/pilot","image":"https://upload.wikimedia.org/wikipedia/commons/6/69/Honda_Pilot_%28YF1%29_Washington_DC_Metro_Area%2C_USA.jpg","quote":"My Honda Pilot 2015 is on its last leg. I'm a single mom and I'm stuck.","canonicalId":"car:honda:pilot","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"The Honda Pilot is a mid-size SUV known for its spacious interior and family-friendly features. The 2015 model offers a comfortable ride and various safety features, making it a popular choice among families.","simplifiedExplanation":"The Honda Pilot is a family SUV that can carry a lot of people and stuff. The 2015 version is known for being safe and comfortable.","imageAttribution":"OWS Photography (CC BY 4.0)"}},{"startTime":1775.9,"endTime":1777.0,"type":"term","title":"finance or lease","url":"/glossary/finance-or-lease","quote":"Should I finance or lease? I don't want to put any money down.","canonicalId":"term:finance-or-lease","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Financing a car means taking out a loan to buy it, while leasing is like renting the car for a set period. Leasing usually requires lower monthly payments but you don't own the car at the end of the lease.","simplifiedExplanation":"Financing is when you borrow money to buy a car, and you pay it back over time. Leasing is like renting a car for a few years, and then you give it back instead of owning it."}},{"startTime":1814.4,"endTime":1817.5,"type":"term","title":"full coverage insurance","url":"/glossary/full-coverage-insurance","quote":"So they're going to require full coverage insurance. So I don't know, check with your insurance company...","canonicalId":"term:full-coverage-insurance","priority":0.9,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Full coverage insurance typically includes liability, collision, and comprehensive coverage, providing extensive protection for both the driver and the vehicle. It's often required when financing a vehicle to ensure that the lender's investment is protected against accidents or theft.","simplifiedExplanation":"Full coverage insurance means you have a type of car insurance that covers a lot of different situations, like accidents and theft. It's usually needed if you're getting a loan to buy a car."}},{"startTime":1831.4,"endTime":1836.0,"type":"term","title":"auto loan","url":"/glossary/auto-loan","quote":"...on top of what your auto loan would be. And on that front, we've seen...","canonicalId":"term:auto-loan","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"An auto loan is a type of financing specifically for purchasing a vehicle, where the borrower agrees to repay the lender over a set period, usually with interest. The vehicle itself often serves as collateral for the loan.","simplifiedExplanation":"An auto loan is money you borrow from a bank or lender to buy a car. You pay it back over time, usually with extra money added for interest."}},{"startTime":1836.0,"endTime":1838.9,"type":"term","title":"insurance payments","url":"/glossary/insurance-payments","quote":"...we've seen, I mean, I've seen insurance payments that are hundreds, multiple hundreds of dollars a month.","canonicalId":"term:insurance-payments","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"Insurance payments refer to the regular fees paid to an insurance company to maintain coverage on a vehicle. These payments can vary greatly based on factors like the type of coverage, the vehicle's value, and the driver's history.","simplifiedExplanation":"Insurance payments are the money you pay every month or year to keep your car insurance active. The amount you pay can change based on different factors, like what kind of car you have."}},{"startTime":1865.3,"endTime":1869.1,"type":"term","title":"trade-in","url":"/glossary/trade-in","quote":"you're probably going to trade it in. Go online, get some values as to what-","canonicalId":"term:trade-in","priority":0.5,"confidence":0.85,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"A trade-in is when you give your old vehicle to a dealership as part of the payment for a new vehicle. The value of the trade-in is deducted from the price of the new car you want to buy.","simplifiedExplanation":"A trade-in is when you sell your old car to a dealership to help pay for a new one. They will give you some money for your old car."}},{"startTime":1873.8,"endTime":1877.0,"type":"company","title":"CarEdge.com","url":"/glossary/caredge-com","quote":"Deal with solution at CarEdge.com slash sell. Use that.","canonicalId":"company:caredge-com","priority":0.5,"confidence":0.9,"source":"hybrid-fuzzy+gpt-4o-mini","data":{"explanation":"CarEdge.com is an online platform that provides resources and guides for car buyers and sellers, including tools for valuing trade-ins and understanding vehicle pricing.","simplifiedExplanation":"CarEdge.com is a website that helps people buy and sell cars. It has tools to find out how much your old car is worth."}}],"speakers":[{"id":"s1","name":"Ray","role":"host"},{"id":"s2","name":"Zach Shefska","role":"host"},{"id":"s3","name":"Bleav","role":"host"}],"transcripts":[{"url":"http://getcarcurious.com/episodes/banks-screwed-the-car-market-insane-data-episode-943/transcript.vtt","type":"text/vtt"}]}