I am a collector lol U all r really loving me

[Sandra]

undefined
I am an office manager for an auto dealer, we are the lien holders, do we have any rights to repo our car especially if the person has hardly made any payments on the car? I mean geezzzz if they cant pay for it they should just return it and get something they can afford instead of taking food ouot of our families mouths by stealing from us. now now dont get mad anyone its just a question and my opinion but these people are ripping us off and it is not fair we are struggling just like everyone else. thanks for the answers in advance Sandra ;)

[dan1970]

Questions

Hi Sandra,
What's wrong with filing for banko one month after getting a new car?? I mean the dealerships rip people off left and right every day. For example, the "dealer reserve" is charged on a discriminatory basis. Credit life, Accident and health insurance, and service warranties are intended to squeeze the last dollars the customer has before leaving. So yeah, the dealerships are looking out for themselves too. Take your sad eyes elsewhere.

[robivi3]

Can't agree on this one, give up the vehicle. It's a hard item, easily surrenedered. Why complicate life? Why compile one bad decision on another? Now that i'm done and over I'm looking to uncomplicate and stay out of any entanglements. No justification for keeping it. Besides, once they go for a judgement, the interest starts racking up. Down the road you may come upon an investment opportunity or some change of life that you will be forced to pass up simply because of a bad decision to keep an item that eventually goes to a junkyard anyway.

Just turn it back to them, you may still owe, but not what you would otherwise.

This isn't so much for Dan as it is for others thinking along this line. His situation has a different twist. if a vehicle is subject to a lien they possibly can actually pursue action after BK. The BK doesn't necessarily wipe out the rights of the lienholder.

But with that sort of justification mentality couldn't I just say, "why can't I kill people?, I mean governments send people to die all the time". So the dealers behavior justifies my behavior? Isn't this the same mentality that helped slay my business when it was robbed, "stealing from you?, why you jack up your prices that's stealing to". I'm sorry but the justification syndrome is just wrong.

[tinroofrusted]

Let's talk about ripping people off shall we?

i worked at an auto dealership for a year.

They would take a trade in on a car for, say $2000.00. They would then sell the darn thing for $8000.00 and make huge profits. How is THAT not ripping someone off?

Or how about the fact that FORD/GM, etc are paying their factory workers $65.00 an hour, and we're now paying $45000.00 for a new automobile... HALF the cost of a house... for something that immediately depreciates by $10000.00 as soon as we drive it off the lot?

I hope that you never fall on hard times, and have to go through some of what these people have gone through. I used to think lowly of people who had to go through stuff like this because I didn't understand. Now I am one of them, and while it is completely humiliating, there are always people like you to make us feel worse about ourselves. So thank you. I hope you no feel better about yourself for running others into the ground over things that you don't understand.

[Sandra]

I am also a very poor person who has been on hard times for many years, i judge no one God does that, I know nothing of what the large corp. do I only know what my boss the owner of a very small dealership does, and he doesnt rip anyone off, it is the other way around, i used to think like u of used carsalesmen and for the most part still do but my boss is the exception, and if u cant pay for something the right and moral thing to do is give it back get something less expensive they dont need a land rover a tempo would do he tried to help them and they pay him back like this thats just plain scummy

[HHM]

Why are you asking if you can REPO, if they have missed payments, of course you can REPO, but you need to follow the laws of your state about how specifically you need to conduct the REPO.

[robivi3]

All those Mexican GM workers earn $65.00 per hour? Dang it all, I knew I was in the wrong Country!!!!

[david scurlock]

unhappy customer.

Let's talk about ripping people off shall we?

i worked at an auto dealership for a year.

They would take a trade in on a car for, say $2000.00. They would then sell the darn thing for $8000.00 and make huge profits. How is THAT not ripping someone off?


Or how about the fact that FORD/GM, etc are paying their factory workers $65.00 an hour, and we're now paying $45000.00 for a new automobile... HALF the cost of a house... for something that immediately depreciates by $10000.00 as soon as we drive it off the lot?

I bought a Ford Expl for $27,000 a few months back, 5 days later I
wanted to trade it in for a cheaper vehicle. (I new that i made a mistake
by buying something i could not afford.) Ford basicly said So what, we will give you $18,000 for your truck of only 20 miles on the truck. once you sign that paper work, its over... I already had a GMC car. if they would have done a proper work history check, they probably would not have even sold it as they are required to do, but basicly if you have good credit, they do not do follow up on anything else. I know a lot of the blame is mine, but compaines like FORD and others are so quick to get you in and out the door, they should take some responsibily, after all, if they had done their checks, they would have not sold me a 2nd expensive TRUCK, and I would not have to file BK.

and no, you just cant go and turn a vehicle back in and get another
for lesser payments, it doesnt work that way, i told them i could
not afford the FORD and I would like something cheaper, they
could have cared less weather i could afford it or not.

Take some responsibily creditors!!!

I have another car that i bought for $18,000
I was not car savy like I am some today,
had dents all in the car, but it was brand new
with 0 miles, do you think they told me that body
damage would instantly lower the value of the
car? HELL NO. SCREW them all...

No dealerships have been fair to me, so when its
time for BK, I will not give a crap about them. SORRY.

[robivi3]

I have often wondered if some obscure law makes creditors somewhat responsible for overextending credit knowingly. I am sure that there is something on the books somewhere.

[HHM]

I have often wondered if some obscure law makes creditors somewhat responsible for overextending credit knowingly. I am sure that there is something on the books somewhere.

Yeah, but this is largely covered by the Credit App. And this goes to David's issue. They don't have to verify employment and your credit report usually lists past employment because if you listed a particular job and salary on your credit app and it turns out not to be true, you have committed fraud.

What you refer to is Predatory lending, which is a problem and there are laws out there, but they are difficult to enforce becaue the people that usually fall victum don't know they have been victumized.

[david scurlock]

I never said it wasnt true, i cant help they gave me a $27k truck making $100 per week, already knowing from my credit that i already had a car at $18k on my credit
this only proves carelessness of ford = greed for money.

should i take responsibily, sure. Should they be liable for selling me a vehicle
that i could not afford? if these compaines took more responsible actions, then
this could avoid future debt or credit problems in the future for other people, its greed and instant money from the finance company....they dont care.

the bank was smart enough to deny my car loan, they were being responsible.
the dealership was not being responsible. I even told these people just 1-3 days
later that i do not think i could afford this truck, THEY SAID DEAL WAS DONE..
THEY DONT CARE.

[david scurlock]

Loan

I have often wondered if some obscure law makes creditors somewhat responsible for overextending credit knowingly. I am sure that there is something on the books somewhere.

The bank was smart enough to turn me down because of income to
debt ratio, we all know banks run by strick guidelines, dealerships
appear to run by another means, I wish they turned me down
on buying the truck. a person normally only realizes after the fact
it is to late, when making a big purchase, but at the time of the purchase, iwas with my wife, which made fairly good money. I guess the
dealership will reap the wind...

way to many vechicles are made these days, a 27k new truck
is only worth $20k 3 months later if it has not been sold yet.

I bet you if these loans would adjust to the way vehicles drop...
I owe 27k on the truck, but im told its not worth more then 15k at most.

so why would someone wanna or desire to pay $27k for a loan on a vehcile
when it is no longer worth 27k?? in my opinon, may sound stupid, but i think the loan should be adjusted to the actual worth of the vehicle... if this
was the case, then vehicle values would not plunge every few days...

[mark234]

You take responsibility

I bought a Ford Expl for $27,000 a few months back, 5 days later I
wanted to trade it in for a cheaper vehicle. (I new that i made a mistake
by buying something i could not afford.) Ford basicly said So what, we will give you $18,000 for your truck of only 20 miles on the truck. once you sign that paper work, its over... I already had a GMC car. if they would have done a proper work history check, they probably would not have even sold it as they are required to do, but basicly if you have good credit, they do not do follow up on anything else. I know a lot of the blame is mine, but compaines like FORD and others are so quick to get you in and out the door, they should take some responsibily, after all, if they had done their checks, they would have not sold me a 2nd expensive TRUCK, and I would not have to file BK.

and no, you just cant go and turn a vehicle back in and get another
for lesser payments, it doesnt work that way, i told them i could
not afford the FORD and I would like something cheaper, they
could have cared less weather i could afford it or not.

Take some responsibily creditors!!!

I have another car that i bought for $18,000
I was not car savy like I am some today,
had dents all in the car, but it was brand new
with 0 miles, do you think they told me that body
damage would instantly lower the value of the
car? HELL NO. SCREW them all...

No dealerships have been fair to me, so when its
time for BK, I will not give a crap about them. SORRY.

(Comment Deleted By - Todd)