Last post on Mar 01, 2009 at 11:26 AM
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Car Buying, Car Financing, Automotive News
#20 of 49 Re: 1.5 Billion? How about a 4% interest rate adjustment on my car loan? [jocuto]
Jan 26, 2009 (12:39 pm)
Whoa whoa. How in the world is the bailout at all connected to your auto loan?? It is not. If you ask me about the bailout, NO, I don't think they should get anything. The same rules apply to them as to you. They made their bed and should deal with it. I don't believe the gov (ie, WE) owe them anything.
And what does your auto loan have to do with the auto workers?? Again, NOTHING! There is absolutely no connection between your bad credit and their jobs. So, to answer your question, would I tell someone who was laid off it was their fault? No, of course not.
HOWEVER, would I tell someone with a mortgage they can't handle the same thing? YUP!
I really don't want your sympathy or anyone else's. I'm not BLAMING anyone, just pointing out the facts. Yes, I OK'd the loan. Many people ok'd buying a home and didn't expect the value of that home to plummet.
Huh. Ok, I apologize if I've misinterpreted your statements, but could you then explain what it is you meant when you wrote things like they "unethically" lent you money? or they "got you into this"? And, finally, what you meant when you implied that you would badmouth Chrysler financial?
By the way, 13% is not bad for someone with poor credit. Just take a look at the standard rates allowed on credit cards (18%-21%), and those rates apply to folks with outstanding credit, too.
#21 of 49 Re: 1.5 Billion? How about a 4% interest rate adjustment on my car loan? [qbrozen]
Jan 26, 2009 (12:59 pm)
Actually, I didn't ask YOU about anything. Simply stating a point.
It's ALL related, it is ALL intertwined you should realize that much. It ALL pertains to our economy and the way business is conducted. I also love your assumption about bad credit. If you read my email, I said I DID have bad credit when I purchased the car. The credit is good now, but refinancing will not happen because the loan is set so far above market value no other institution will refinance that much for the car. So be careful before you rant about what you THINK and don't KNOW.
I think it was unethical to ok a loan that should not, by company standards, be approved in the first place, I think it was unethical for mortgage company's to introduce the ARM.
I'm entitled to those opinions.
13% is a good percentage rate? For an auto loan? You are comparing and auto loan with a credit card loan??
I wouldn't know, I don't have any credit cards.
I have nothing good to say about Chysler Financial, my right, my experience, my choice.
#22 of 49 Re: 1.5 Billion? How about a 4% interest rate adjustment on my car loan? [jocuto]
Jan 26, 2009 (1:34 pm)
My "assumption" about bad credit was correct (although not an assumption when you stated it). I didn't say you still have it. But you had it when you got the loan in question. Its great you've been able to improve it. And that was done with the help of your auto loan.
I'm curious about one more thing, though. What company standards state the loan shouldn't have been approved?
And, yes, 13% is not all that bad for an auto loan for someone with questionable credit. My brother was staring down the barrel of 16% with a 650 credit score last month, and the dealer was having difficulty getting THAT past the bank.
Yup. Your opinion and your right. No doubt. But when you state your opinion on the internet, I have every right to respond. And I'm sure you didn't think you could go on a public forum, state you've had a bad experience with a financial company because they lent you money when you asked and now won't give you a break, and not get some sort of backlash. I'm more than happy to discuss such issues. But we should try to not let it get so personal.
#23 of 49 qbrozen accurately interprets your verbiage & intention
Jan 26, 2009 (2:16 pm)
and I agree with his observations, opinions, and very wise experience.
Regarding your car loan: You read the terms and conditions
You understood those terms and conditions
You agreed to those terms and conditions
You are obligated to those terms and conditions
Just like in the R E business when a buyer signs the Earnest Money Receipt and Agreement.
#24 of 49 Re: qbrozen accurately interprets your verbiage & intention [euphonium]
Jan 26, 2009 (3:51 pm)
I wish you all the best of luck
and should the "terms and conditions" of your own contracts/financial obligations/homes or health be effected by the economy or otherwise.
Don't complain, don't question, don't try, don't challenge,...remember what you've told me here.
Nothing should be personal you are right. But be careful about personal judgements with so little knowledge.
Life doesn't always go as planned.
Just pointing out the hypocritical thinking process of our decision makers both in large corporations and in goverment.
I still hold a real estate license, I know the "terms and conditions" of an 8 page contract that I explicity and thoroughly explain to each and every client until they fully understand. Do you honestly believe that both mortgage brokers and car dealers are doing the same? Do you think we (our economy) would be here now if that was the case?
Very wise experience?
Please explain in full detail how one obtains this and how you have chosen such a title?
I do not know how wise, educated or intellectual either of you are, but we have a serious problem in the US right now. I am challenging the system. I posted my letter to Chrysler Financial, ...I made my opinion, thoughts and point. You have made yours. I don't have time to post in forums all day, but I really do wish you both the best.
#25 of 49 Re: qbrozen accurately interprets your verbiage & intention [jocuto]
Jan 26, 2009 (8:24 pm)
IMHO, you have some pent up anger. Need to take a deep breath and relax.
Best of luck to you.
#26 of 49 Re: qbrozen accurately interprets your verbiage & intention [jocuto]
Jan 26, 2009 (11:11 pm)
As you still hold a RE license, you are subject to Continuing Education courses.
Be sure to attend the one on "Contract Law".
I've entered into a lot of agreements over the years and am most proud of my Marriage Contract which has lasted over 54 years. Even the RE business didn't threaten it.
#28 of 49 Re: qbrozen accurately interprets your verbiage & intention [euphonium]
Jan 27, 2009 (6:58 am)
I just finished my CE courses a few months ago. I did attend and pass the class on contract law. Congratulations on 54 years. I was not married when I practiced RE full-time so I'm not sure how RE affects a relationship. I know it is very demanding and kudos to you for sticking together and keeping a marriage for so many years. That is something to be VERY proud of, practicing RE or not.
I am extremely impressed and wish you many more!! My granparents just celebrated their 63rd wedding anniversary.
#29 of 49 Re: qbrozen accurately interprets your verbiage & intention [verdugo]
Jan 27, 2009 (7:05 am)
Are you serious? Is that all you can come up with?? In response to issues we are debating???? I'm still laughing that you can't give me a description of how one obtains wise experience. You agreed so you must know the facts right? My co-workers are laughing their ass off. Pent up and anger are not accurate assumptions of who I am. But I guess that's all someone can do in a forum is guess and assume if they don't know and don't ask.
Let's do something more contructive with our time.
I have a college degree, two minors, a RE license, a license to work with the elderly, a masters degree on it's way, I've lived in 10 different states traveled to 20 or more and raised three children. I didn't do it responding to judgements online. So AGAIN...take care. Peace, happiness, and good luck to all of you and I hope you will not see adversity the way others have in this economy.