It happens. But how vexing!
I'm only going to tell you guys this, I'll deal with FB later...I may have counted my chickens too early so to speak. I may not be able to buy the car.
My credit union is dragging their feet on my application which usually means a denial. The dealership will finance, but at a 15-17 percent interest rate. For reference, a person with normal credit would get about 6.9%. At the interest rate they are offering, I would pay 23,500 for a 16,000 car. Yes, I would pay for the car 1.5 times. Idiots.
The sweet little car salesman who showed me pics of his daughter is now sweetly demanding that I come in and talk to the finance person face to face. Yesterday when I called to have him run the credit app he tells me that he can't run the app without a CC deposit. Then when I balked, my credit app was miraculously run without a deposit. When I talked to him later, he said the car payment was nearer to $400/month than $300. I asked what the interest rate was. He said he didn't know...which is bullshit. I know that there are people who will say "I can afford X payment" without realizing that a high rate will make the car cost X more. Sorry Buddy, I am not one of those stupid people. GRRR I hate car sales. Same BS tactics every time.
Today I will get an answer from the CU. If it is a no, I will then call my salesman and say I cannot do business with you unless you can get the rate down to 9%.
So embarrassed that I have been crowing about my new car.
Last edited by Pebbles67; 12-11-2012 at 04:16 AM.
It happens. But how vexing!
Yikes. Hoping you can get it resolved and do end up able to get your new car.
"No fate but what we make"- Sarah Connor, Terminator 2
Life is not a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside, thoroughly used up, totally worn out, steak in one hand, chocolate in the other, yelling "Holy F***, What a Ride!"
My Primal Battle Tome
I'll get a car regardless, but it may be someone else's $1000.00 used car.
I figure I can get my credit score up in 6 months by paying off my other car, paying everything else on time and disputing any false info. I did this once before when we went to get our first mortgage. At the time, our credit scores started around 625. I fixed everything that was erroneous and the next month they went up to 650+.
I am keeping my chin up.
Meanwhile my HS is in an uproar. A teacher was arrested for possession and sale of pot and mushrooms out of his house. If you remember, our AP was caught with pot in his car last June. He said it was someone else's. Apparently this teacher went to the concert with him, so he was likely not lying.
The worst part of this story is that the teacher got caught because a neighbor of his died of a heart attack after taking mushrooms bought from this guy.
We teachers are being fried in the press.
If you are interested you can read the article at New York News - NY News | The Daily Freeman
Last edited by Pebbles67; 12-11-2012 at 07:09 AM.
Gheese, when it rains it pours. I'm with you on hating car salespersons. What ever happened to the AP? It sounds like he got screwed by the other teacher.
OMG, so sorry to hear about the problems you're having. Sad about your school district as well.
The AP is back at work this year in his original position. He would not give up the name of his passenger at the time. Hopefully this will help him in the end. I assume he paid a fine for possession and is on probation.
Wow, some crazy stuff, Paula. Never heard of someone dying off magical mushrooms, but then again I never really delved into the matter much.
WRT the car business, yeah, I think being slimy is a job requirement. Have you checked into other ways to finance? 15%+ is crazy, unless you can afford to pay extra each month to reduce the final finance charges. Most CUs will have personal loans or revolving service loans with rates ~11%-13%, which at least is a little better. A little riskier... you could do a home equity loan and get great rates, but if you miss any payments you're jacked. The nice thing there though is that your monthly payment would be lower than the $300 the car dude originally quoted, and again, you could always pre-pay to get it off the books sooner. Home equity rates are very reasonable right now (~4% for a 5-year loan... would NOT suggest a 10-year).