The line is actually "bounce on the devil, put the pedal to the floor" Devil is a term used to describe white people, particularly ones who are in power.
...seen em repo-d, resold, and be driven. Saying like he's seen people at the top of their game getting Range Rovers as gifts, only to see them fall out and have the car repossessed and probably driven right in the same hood by the next hot hustler.
I'm guessing Lemmon is the real last name of the rapper Yungstar. David Taylor is a Cadillac dealership in Houston and a tight'um would reference a pimped-out caddy.