Woman Wants to Trade In Her 2015 Honda Civic. Then She Tells the Salesman She Still Owes $27,000

Sometimes a single moment can capture the problems of an entire industry. For Nissan salesman Jaeden Serrano, who goes by @jaedensellsnissan on Instagram, that moment came when a customer casually mentioned the payoff amount on her nearly decade-old Honda Civic.

The seven-second Instagram video posted by @jaedensellsnissan on July 12, 2025, shows exactly what happens when a subprime loan affects a customer’s future purchases. In the clip, which has racked up over 5,100 likes, Serrano sits at his desk at Mossy Nissan in El Cajon, California, initially typing away with a calm expression. Then, his expression changes to pure shock as he exclaims, “God[expletive]!”

The on-screen caption reveals what prompted his reaction: “POV: your customer tells you the payoff on her 2015 Honda Civic is 27k through Westlake.”

The Subprime Auto Loan Crisis

Clearly, $27k is a staggering amount to owe on a vehicle that’s nearly a decade old. According to Kelley Blue Book, a 2015 Honda Civic typically has a current market value of around $8,500-$13,700, depending on trim and condition.

This kind of underwater loan has become increasingly common as subprime auto lending has exploded. According to 247wallst.com reporting from September, “The auto loan landscape is teetering on the edge of chaos as delinquency rates climb to unprecedented heights. Data from the Federal Reserve and Goldman Sachs reveal that subprime auto loan delinquencies have rocketed past 5%, a stark milestone that surpasses the worst days of the 2008 financial crisis.”

The situation has gotten so bad that repossessions are surging. According to the Dealership Guy, back in February, data from Cox Automotive showed repossessions went up 23% year-over-year in July 2024 and increased 14% from pre-pandemic levels. The Consumer Financial Protection Bureau found that vehicle repossessions rose 22.5% from December 2019 to December 2022 across nine major lenders.

Westlake’s Controversial Role

Westlake Financial specializes in subprime loans to customers who may not be able to obtain financing elsewhere, according to LendingTree. However, the company has faced regulatory scrutiny over its business practices.

In 2021, Westlake settled with the Massachusetts Attorney General “over a variety of alleged unfair practices relating to the company’s role in the origination, collection, and securitization of subprime auto loans.” The company also settled a 2016 class action lawsuit over its use of automated calling systems to contact borrowers on their cell phones without consent.

Viewers Share Their Pain

The video resonated deeply with viewers who shared their own Westlake horror stories in the comments section.

One user, xxnannersxx, detailed her experience: “The biggest blessing of my life, though I couldn’t see it at the time, was when I had a $20,000 loan on a brand new at the time, completely bare bones, 2017 Nissan Versa. No cool features, no apple car play, no back up camera, completely manual, including the locks and windows. But it sure had all of the dealerships extra ‘protection’ for thousands of extra dollars tacked onto what should have been a $10,000 car at that time. 24% interest rate through Westlake.”

Her story had a fortunate ending when an uninsured driver totaled her car, and GAP insurance covered the massive difference between the loan balance and the vehicle’s actual value.

Another commenter, whois_india, is currently living the nightmare: “Currently trying to get out of my loan with a Nissan Altima got it with 119,000 owing 18,000 still and I’ve been paying a year straight.”

The mention of Westlake alone triggered strong reactions. “Seeing the word Westlake just triggered a fight or flight response,” wrote facefirstinit.

Even other car salespeople chimed in with their own shock stories. Drive_withkevv commented: “Someone came in yesterday owing 30k on a 2021 Kia with 65k miles I almost fell back on my chair.”

The Human Cost

Some commenters pointed fingers at the dealers themselves. “Acting shocked like yall aren’t the ones getting people into this shi,” wrote ruxsebas, highlighting the role that dealerships play in steering customers toward subprime lenders.

But Serrano’s response to his customers’ situations suggests genuine empathy. When one commenter mentioned being unable to get approved anywhere despite having $8,000 down, he replied: “That’s crazy i’m sorry to hear that.”

The video serves as a stark reminder of how predatory lending practices can trap consumers in impossible financial situations. When a customer owes more on a nearly decade-old economy car than many people pay for a brand-new vehicle, it’s clear that something has gone fundamentally wrong with the auto financing system.

For the customer with the 2015 Civic, trading in isn’t really a great option: She’d need to bring tens of thousands of dollars to the table just to get out of the loan. It’s a financial situation that highlights why consumer advocates continue pushing for stronger regulations on subprime auto lending.

Motor1 reached out to @jaedensellsnissan via Instagram direct message for additional comment.