Just b/c You Bk'd, Doesn't Mean You Have to Take What They Give You!

[freedomnow7]

I could not think of a better name for this thread, so I just wrote what was on my mind (and sanitized it a bit as to not offend anyone).

I was approved by Road Loans at 24%, which I wouldn't take because I'm not trying to get back into another situation where I can't afford my monthly bills comfortably.

We saw a car advertised for 15,800 in two different places (Craigslist and the Greensheet), so we went down to the dealer, did a test drive, and applied for financing.

Instead of going down on the car, they actually added $1500 to the cost of it, even though we found the same exact car in other places for less, and with less mileage, after we had applied for financing with this dealer. They said something about an acquisition fee, but they purchased the car at an auction and it was a former rental. We know they only paid about 10k for the car, but they're trying to make 7k on us. Interest was 18%, which was to be expected.

We walked out on the deal. Yeah, I have a BK, but that doesn't mean I'm going to bend over for anybody, especially for these "bait and switch" dealers out there. It's not like I'm asking for nothing down with 5% interest, sheesh. I'm in control and I drive this ship. Don't try to take advantage of me because I ran into difficult financial times! I get the deal that I want, or I don't make the deal at all.

Just a rant

[AngelinaCatHub]

Grats on your intestinal fortatude.

Yes, the dealers see "car lust" in your eyes when you come. IF you can see dollar sign lust in theirs, you win.

In my opinion, and experience I have purchased what is called "beaters" for $1500 everything works, older model, but low mileage. December is the time to shop I am told. Everyone goes broke on Christmas but the dealers still need to pay the light bill.

I just purchased my daughters 89 Volvo, clean as new, low miles for 1500. She had it up for sale for 3K, but,,,,,,,,,I'm Dad. LOL. 'Hub

[Flamingo]

I could not think of a better name for this thread, so I just wrote what was on my mind (and sanitized it a bit as to not offend anyone).

I was approved by Road Loans at 24%, which I wouldn't take because I'm not trying to get back into another situation where I can't afford my monthly bills comfortably.

We saw a car advertised for 15,800 in two different places (Craigslist and the Greensheet), so we went down to the dealer, did a test drive, and applied for financing.

Instead of going down on the car, they actually added $1500 to the cost of it, even though we found the same exact car in other places for less, and with less mileage, after we had applied for financing with this dealer. They said something about an acquisition fee, but they purchased the car at an auction and it was a former rental. We know they only paid about 10k for the car, but they're trying to make 7k on us. Interest was 18%, which was to be expected.

We walked out on the deal. Yeah, I have a BK, but that doesn't mean I'm going to bend over for anybody, especially for these "bait and switch" dealers out there. It's not like I'm asking for nothing down with 5% interest, sheesh. I'm in control and I drive this ship. Don't try to take advantage of me because I ran into difficult financial times! I get the deal that I want, or I don't make the deal at all.

Just a rant

They know it will be difficult for you to obtain financing so they will up the fees/profit for them as much as possible since most folks fresh out of BK are out of other options and will take whatever they can get. Of course once the car is off their hands they have that profit in hand and the car is now financed at a high interest rate with someone else who is also making money off the deal.

[jetsfan2010]

What lender did they offer financing through?

[freedomnow7]

Gateway One Lending and Finance