Brandon from Car Questions Answered says repossessions are spiking, and used car prices will plummet.  “This is the tip of the iceberg.”

He says this will be the biggest crisis in the car market ever.  Lenders such as Wells Fargo were lending up to 180% of the value of the vehicle.  Banks are repossessing cars at a record rate and quickly sending them to auction, because they know used car prices will go down soon.  Wells Fargo is even paying the repossessors premium rates, and tow truck drivers are in a shortage.