3800 Car buying...my rant!

[Aircal]

Ok, I just want to explain this to everyone that ever buys a car so I never have to do it again........... If you buy a new car and you put no money down, or roll neq equity into the loan....you CAN NOT TRADE IT IN AND LOWER YOUR PAYMENTS!!!!!!!
Not for several years at least. And only if you make extra payments. I don't care how much the car you trade for costs, you still have to pay for the one you just bought!!!!
4 phone calls in a row today, the last one...I just bought an acura 2 months ago, I can't make my monthly payments (you dont know that before you took the car home?) so I want to trade it in. I asked how much did you put down...$500.00. I tried to explain that cars lose value when they drive them away, most cars are losing 30% this year as soon as you leave.. She tells me, well one dealer said they would give me 17k for it.. I asked so how much do you owe?...22k.
I asked how much neg eq can you cover?..None. So you wont to roll 5k neq and lower your payments? Not to mention most banks won't loan more than 120% of the value of the car. Some one please explain to me how a person thinks they can do this.............
And one more thing....stop arguing about the loan rates. If you have good credit you get a good rate, if you have bad you don't. Its all your fault not mine!!! I didn't tell you to put that cheesburger on your credit card and then not pay it on time. Rates have less to do with payment than term and amount. And if your credit is so good, get your own loan. So stop arguing about rates...........
Ok rant over, I can go to bed now.............. :lolsign:

Click to read more...

 

[Fish]

Its people in general. Not just with cars. Some of these people think that they can do anything they want if they bitch and moan enough.

That would irritate me though as well.

 

[fastcash]

car buying sucks anyways, they wouldn't let me roll over the 3k of neg. equity onto a 30k svt 04 'stang!...they actually told me that for a ws6 at 21k-with the -equity that i will need to put down 14 THOUSAND DOLLARS!!!!!

my thing is, i don't care about the payments going up, don't care if i get the same interest rate 15.45%...i just wanted the 04 cobra in white, then black, then mystichrome, all around 10k miles, 30k, and now...all sold because each time i was told that you need to buy a NEW car with incentives to cover most of the whopping 3k. car buying sucks

i think ill just buy a gun instead h34r:

 

[burtgtp1973]

Originally posted by Aircal@Aug 25 2005, 11:17 PM
they would give me 17k for it.. I asked so how much do you owe?...22k.
I asked how much neg eq can you cover?..None. So you wont to roll 5k neq and lower your payments? Not to mention most banks won't loan more than 120% of the value of the car. Some one please explain to me how a person thinks they can do this.............
  :lolsign:

[snapback]96090[/snapback]​

In order for the person to lower their payment they would need to get into a much cheaper car ( but still be upside down) or possibly go a longer term . Another classic is when you hear people say "that dealer screwd me" but the reality is they couldnt wait to sign their name to the 22% APR . So now they owe 17K on a 10K car .... h34r: but the dealer put a gun to their head and made them sign .............

 

[shaferz]

My brother just bought a bike like this.

Will end up paying over $15K for a $9999 motorcycle.

And he still doesnt understand why this is such a bad thing. I keep trying to explain it to him like this.... if he gets sick and cant work anymore and he has to sell the bike because he cant afford payments. FIRST of all, he'll be lucky to get $8K out of it. That leaves him with $7K worth of payments on NOTHING.


What an idiot.

 

[staceyyearsich]

Thats why I am waiting till my car is payed off next year so I have no negative roll-overs cause they SUCK!!!

When I did buy my 01 Mustang I went in with nothing.. then I got my 02 Chrysler Sebring.. there was a 4,000 dollar roll-over so then we paid the $4,000 dollars... its was dumb..

 

[Royalgtp]

you need to keep car longer then 4-5 years to actually STOP losing money. Buying a BRAND new car is a total waste of money...


ALso, I find that you have to argue about the finance rate? They always try to set you higher then what you should get for you credit score.....

I would have pre aproved quotes b4 I ever even walked through the door to bargain with.