Life Advising a friend. - Page 5

Micjones · 07:03 PM

So there's this girl at my job who is currently having a Hell of a time with her car dealership. It's one of those "buy here, pay here" lots. Her last car was repo'd after she missed a couple payments so she's been scrambling to find reliable transportation. Turns out that she moved a bit too quickly and took a flyer on a 2002 Ford that has upwards of 100K miles on it. A car that also brings with it a financial responsibility of right around $10,000. Obviously she's going to come out on the losing end of the deal. In all likelihood...the car will shoot craps long before she sees the light at the end of that contract.

So she tells me she's going to ask the dealership to refund both her first few payments and the initial down payment she remitted when she bought the car. Getting that money back is her end game.

I'm trying to talk some sense into her and help her realize that getting that money back at the expense of having this reported as another repo on your credit isn't a fair trade-off.

Am I wrong to suggest to her that the dealership is under NO legal responsibility to let her out of that contract?

She swears that she's going to get another car with an even LESS reputable lot. I tell her that they're going to see the open car loan and tell her to hit the bricks.

She's one of those people who talks her way out of everything with customer service personnel. But those are significantly smaller battles. Removal of NSF fees, refunds on hotel stays, etc. She's convinced she's going to win this fight. I think she's in BIG trouble.

Am I off-base here?

**Bugeater** · 12-16-2009, 09:40 PM

I can't justify buying new cars either, the wife bought an '04 Camry last summer for $10K, the sticker price on it new was $25K, and while it has a couple very minor issues, there's no ****ing way in hell it was 2 1/2 times better when it was new than it is now.

**OnTheWarpath15** · 12-16-2009, 09:41 PM

Quote:

Originally Posted by Saul Good

Nice. You may have noticed that I'm not a car guy (especially for a 31 y/o). I've got a six figure income, and my wife's car and my car combined probably aren't worth $10,000. They both look nice and drive perfectly, though.

I just can't justify shelling out money for a new car. (To myself. Nothing against anyone else buying one.) I bought mine for about $17,500 when it was 3-4 years old with 36,000 miles. It was in mint condition and would have run close to $40,000 new. I figure I'll hang onto it for about 3 more years and unload it. If I can get $1,500 for it, that puts it at under $200 per month.

My wife bought her car right out of college for $8,000. We'll probably get rid of hers about the same time as mine. (By then, all of the people who can't afford their cash for clunkers car should be unloading them for a song.) Her cost will be about $100 a month.

I understand, and admire that.

Our other car is paid off, and still in great shape, so we just have the one payment.

What I don't get are the people that have extravagant cars and can't afford them. You know, the people that live in a trailer park, but drive a $60,000 F-350 Dually with every available option to their job cleaning bathrooms in an office complex.

But hey, to each their own.

trndobrd · 12-16-2009, 10:06 PM

Quote:

Originally Posted by Micjones

So there's this girl at my job who is currently having a Hell of a time with her car dealership. It's one of those "buy here, pay here" lots. Her last car was repo'd after she missed a couple payments so she's been scrambling to find reliable transportation. Turns out that she moved a bit too quickly and took a flyer on a 2002 Ford that has upwards of 100K miles on it. A car that also brings with it a financial responsibility of right around $10,000. Obviously she's going to come out on the losing end of the deal. In all likelihood...the car will shoot craps long before she sees the light at the end of that contract.

So she tells me she's going to ask the dealership to refund both her first few payments and the initial down payment she remitted when she bought the car. Getting that money back is her end game.

I'm trying to talk some sense into her and help her realize that getting that money back at the expense of having this reported as another repo on your credit isn't a fair trade-off.

Am I wrong to suggest to her that the dealership is under NO legal responsibility to let her out of that contract?

She swears that she's going to get another car with an even LESS reputable lot. I tell her that they're going to see the open car loan and tell her to hit the bricks.

She's one of those people who talks her way out of everything with customer service personnel. But those are significantly smaller battles. Removal of NSF fees, refunds on hotel stays, etc. She's convinced she's going to win this fight. I think she's in BIG trouble.

Am I off-base here?

The die is already cast. She has already signed the paperwork and taken the car off the lot. Let her go talk to the dealership.

**Iowanian** · 12-16-2009, 10:16 PM

It sounds like Your friend is a ****ing idiot.

An irresponsible one at that.

Maybe she should hang out with that guy friend who is Fing the other guy friend's wife....

**Saul Good** · 12-16-2009, 10:23 PM

Quote:

Originally Posted by OnTheWarpath58

I understand, and admire that.

Our other car is paid off, and still in great shape, so we just have the one payment.

What I don't get are the people that have extravagant cars and can't afford them. You know, the people that live in a trailer park, but drive a $60,000 F-350 Dually with every available option to their job cleaning bathrooms in an office complex.

But hey, to each their own.

There's a reason they live in a trailer park. Personal finance really isn't that difficult.

**Saul Good** · 12-16-2009, 10:25 PM

Quote:

Originally Posted by Iowanian

It sounds like Your friend is a ****ing idiot.

An irresponsible one at that.

Maybe she should hang out with that guy friend who is Fing the other guy friend's wife....

Jeez, Mic. What kind of riffraff do you associate with? Payday loans, adultery, shady car deals...must be all that hiphop music. (I'm going to add a sarcasm disclaimer here just in case it wasn't obvious)

**OnTheWarpath15** · 12-16-2009, 10:26 PM

Quote:

Originally Posted by Saul Good

Jeez, Mic. What kind of riffraff do you associate with? Payday loans, adultery, shady car deals...must be all that hiphop music. (I'm going to add a sarcasm disclaimer here just in case it wasn't obvious)

**Rain Man** · 12-16-2009, 10:28 PM

I've been thinking about this, and I think I see an option for her if she meets three criteria.

1. Did she buy the car from Hertz?

2. By 'buying', did she mean 'renting'?

3. Is she open to returning the car and not getting her payments back?

If the answer to all three is yes, I think she can pull it off.

Simply Red · 12-16-2009, 10:28 PM

Micjones is always right, you aint heard?

**Easy 6** · 12-17-2009, 12:59 AM

In case anyone else hadnt said it (they have), this girl is ****ed... her plea's will fall on the deaf of ears of 'buy here stores'.

The papers she signed at delivery, i'm sure, wrapped it up... she better go in there in some hotpants & sing for her supper to get any justice from these jokers.

**BigMeatballDave** · 12-17-2009, 07:46 AM

Quote:

Originally Posted by OnTheWarpath58

Really? I think 30K is pretty average - and we spend a bit less than that.

Sweet!

King_Chief_Fan · 12-17-2009, 07:46 AM

Quote:

Originally Posted by Micjones

So there's this girl at my job who is currently having a Hell of a time with her car dealership. It's one of those "buy here, pay here" lots. Her last car was repo'd after she missed a couple payments so she's been scrambling to find reliable transportation. Turns out that she moved a bit too quickly and took a flyer on a 2002 Ford that has upwards of 100K miles on it. A car that also brings with it a financial responsibility of right around $10,000. Obviously she's going to come out on the losing end of the deal. In all likelihood...the car will shoot craps long before she sees the light at the end of that contract.

So she tells me she's going to ask the dealership to refund both her first few payments and the initial down payment she remitted when she bought the car. Getting that money back is her end game.

I'm trying to talk some sense into her and help her realize that getting that money back at the expense of having this reported as another repo on your credit isn't a fair trade-off.

Am I wrong to suggest to her that the dealership is under NO legal responsibility to let her out of that contract?

She swears that she's going to get another car with an even LESS reputable lot. I tell her that they're going to see the open car loan and tell her to hit the bricks.

She's one of those people who talks her way out of everything with customer service personnel. But those are significantly smaller battles. Removal of NSF fees, refunds on hotel stays, etc. She's convinced she's going to win this fight. I think she's in BIG trouble.

Am I off-base here?

If she walks in with current payment due and turns the car in...she might be able to avoid the repo on her credit history. She is a fool if she thinks she can get them to give her anything in return for that car

Meck77 · 12-17-2009, 08:03 AM

Quote:

Originally Posted by OnTheWarpath58

Jesus tapdancing Christ.

I just bought a brand new, $35K car, put no money down, and I'm not paying much more than that.

(Helps to have decent credit and be a smart consumer)

You call that smart?

Being smart is buying a slightly used car you can afford with CASH. You were upside down the moment you signed those papers. The finance charges will probably top 70k by the time your are done paying. Well that is if that car even makes it that long.

**Iowanian** · 12-17-2009, 08:14 AM

She'll be lucky if the pawn shop car dealer she bought from doesn't punch her in the meat curtains and break her thumbs.

wild1 · 12-17-2009, 08:28 AM

Quote:

Originally Posted by Saul Good

Nice. You may have noticed that I'm not a car guy (especially for a 31 y/o). I've got a six figure income, and my wife's car and my car combined probably aren't worth $10,000. They both look nice and drive perfectly, though.

I just can't justify shelling out money for a new car. (To myself. Nothing against anyone else buying one.) I bought mine for about $17,500 when it was 3-4 years old with 36,000 miles.

Ditto... except the car I'm driving now cost $12,000.

When I think of what colleagues are throwing away per month on their cars, I don't know if I should laugh or cry. Some of them are spending $500 and up every month on a car payment. Just one car, not even counting the spouse. They've probably flushed $100,000 or more in the last 10 years.

12-16-2009, 06:22 PM
Micjones Whose house? Join Date: Mar 2007 Location: KCMO Casino cash: $10005180	Advising a friend. So there's this girl at my job who is currently having a Hell of a time with her car dealership. It's one of those "buy here, pay here" lots. Her last car was repo'd after she missed a couple payments so she's been scrambling to find reliable transportation. Turns out that she moved a bit too quickly and took a flyer on a 2002 Ford that has upwards of 100K miles on it. A car that also brings with it a financial responsibility of right around $10,000. Obviously she's going to come out on the losing end of the deal. In all likelihood...the car will shoot craps long before she sees the light at the end of that contract. So she tells me she's going to ask the dealership to refund both her first few payments and the initial down payment she remitted when she bought the car. Getting that money back is her end game. I'm trying to talk some sense into her and help her realize that getting that money back at the expense of having this reported as another repo on your credit isn't a fair trade-off. Am I wrong to suggest to her that the dealership is under NO legal responsibility to let her out of that contract? She swears that she's going to get another car with an even LESS reputable lot. I tell her that they're going to see the open car loan and tell her to hit the bricks. She's one of those people who talks her way out of everything with customer service personnel. But those are significantly smaller battles. Removal of NSF fees, refunds on hotel stays, etc. She's convinced she's going to win this fight. I think she's in BIG trouble. Am I off-base here? Last edited by Micjones; 12-16-2009 at 07:03 PM..
Posts: 15,344

12-16-2009, 09:40 PM	#61
Bugeater The Maintenance Guy Join Date: Sep 2005 Location: Renovated Bugeater Estate Casino cash: $3992680	I can't justify buying new cars either, the wife bought an '04 Camry last summer for $10K, the sticker price on it new was $25K, and while it has a couple very minor issues, there's no ****ing way in hell it was 2 1/2 times better when it was new than it is now.
Posts: 70,546

12-16-2009, 10:16 PM	#64
Iowanian Supporter Join Date: Aug 2000 Location: Utopia Casino cash: $1668454	It sounds like Your friend is a ****ing idiot. An irresponsible one at that. Maybe she should hang out with that guy friend who is Fing the other guy friend's wife....
Posts: 62,945

12-16-2009, 10:28 PM	#68
Rain Man Seize life. Be an ermine. Join Date: Jul 2001 Location: My house Casino cash: $-692449 VARSITY	I've been thinking about this, and I think I see an option for her if she meets three criteria. 1. Did she buy the car from Hertz? 2. By 'buying', did she mean 'renting'? 3. Is she open to returning the car and not getting her payments back? If the answer to all three is yes, I think she can pull it off. __________________ Active fan of the greatest team in NFL history.
Posts: 145,525

12-16-2009, 10:28 PM	#69
Simply Red You Sweetie! Join Date: Sep 2005 Casino cash: $2021206219 VARSITY	Micjones is always right, you aint heard?
Posts: 71,691

12-17-2009, 12:59 AM	#70
Easy 6 pie is never free Join Date: Sep 2006 Location: the drivers seat Casino cash: $-192225	In case anyone else hadnt said it (they have), this girl is ****ed... her plea's will fall on the deaf of ears of 'buy here stores'. The papers she signed at delivery, i'm sure, wrapped it up... she better go in there in some hotpants & sing for her supper to get any justice from these jokers.
Posts: 98,508

12-17-2009, 08:14 AM	#74
Iowanian Supporter Join Date: Aug 2000 Location: Utopia Casino cash: $1668454	She'll be lucky if the pawn shop car dealer she bought from doesn't punch her in the meat curtains and break her thumbs.
Posts: 62,945