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Smart Shopper Making Car Payments in Hard Times
49 messages, Last post on Mar 01, 2009 at 10:26 AM
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Replying to: qbrozen (Jan 26, 2009 11:39 am) 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.
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Replying to: jocuto (Jan 26, 2009 11:59 am) 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. |
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Replying to: jocuto (Jan 26, 2009 11:59 am) 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. |
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Replying to: euphonium (Jan 26, 2009 1:16 pm) 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. |
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Replying to: jocuto (Jan 26, 2009 2:51 pm) IMHO, you have some pent up anger. Need to take a deep breath and relax. Best of luck to you. A.
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Replying to: jocuto (Jan 26, 2009 2:51 pm) 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. 
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Replying to: euphonium (Jan 26, 2009 10:11 pm) I am extremely impressed and wish you many more!! My granparents just celebrated their 63rd wedding anniversary. |
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Replying to: verdugo (Jan 26, 2009 7:24 pm) 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. |
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Thank you for your well wishes. I appreciate it. I too hope I don't have to face financial adversity. If I do, however, I would only blame myself for my financial situation. I chose to have the mortgage payment and 2 car payments I currently have. I chose not to save as much as I should have. I'll be saying to myself that I should have gotten cheaper vehicles, a cheaper home, cheaper coffee, etc, etc. Nobody forced me into it and I don't expect help from, nor will I disparage, the financial institutions that loaned me the money I asked for. In this country we tend to live to excess, unfortunately, and expect handouts when we can no longer do so. Maybe if we had been more prudent, collectively, we wouldn't be facing this situation. |
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