haha, you got me, the last time i let my Ipad auto-correct without checking it.
haha, you got me, the last time i let my Ipad auto-correct without checking it.
Unless she has a lot of cash to put down. The balance owed on the car would be 13K approx 6-7k more than the car is worth. A bank would only go maybe 7-8k. With 92k miles on it already a bank might not go extended term (5 years or longer).
Good call there is no cool down period in OK... They will either need to make it work or take a hit on credit.
Situations like this are why 18-24 year olds come back to tell my wife that she taught the most useful class they took in high school, she teaches Personal Finance - it's sad that kids don't know any better. Like others have said, run though that sales contract with a fine tooth comb, make sure it's sealed tight. If it is, send her shopping for new financing immediately. I also have to agree with those that mentioned that insurance number being WAY off. At one point in my youth I was living one citation away from suspension due to speeding tickets & my insurance was just a hair under $200 a month at it's worst. Anything in the $400s is a farce & she should shop until she finds better, MUCH better.
Wow that really was a rip off. It's amazing how badly car dealers are willing to screw someone over for a little bit of money. She isn't going to have the credit to refinance with a bank. She would need a cosigner. A bank won't loan that much either. That was an outrageous price for that car. I hate car dealerships!!!!
How would the bank ever approve that amount for that car! Sounds like something fishy! On the dealers side that is.
I doubt she will be able to refi at a local bank. She's in so deep (loan to value) most reputable banks won't touch that with a 10 foot pole.
She's either borrowed through a tote-the-note place, or a sub-prime auto financier (like Americredit, Drive Financial, Fifth Third, Capital One, Westlake, etc.)
She's either borrowed through a tote-the-note place, or a sub-prime auto financier (like Americredit, Drive Financial, Fifth Third, Capital One, Westlake, etc.)
I agree that car dealers can be un ethical a-holes, but that goes for just about anyone trying to sell something. IMO, no one held a gun to her head and made her buy the car, and she could have done some research on google before purchasing. No sympathy. "If you have to make payments on something, then you can't afford it."
credit world!!!!!!!!!!!!!!!!!!!!! bad credit, no credit, divorce, bankruptcy, NO PROBLEM!!!!!!
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