www.tdiclub.com

Economy - Longevity - Performance
The #1 Source of TDI Information on the Web!
Forums Articles Links Meets
Orders TDI Club Cards TDIFest 2016 Gone, but not forgotten VAG-Com List Unit Conversions TDIClub Chat Thank You




Go Back   TDIClub Forums > VW TDI Discussion Areas > General Automotive

General Automotive General automotive discussion. This is intended to be a discussion about other not VW and Diesel cars you may have or interested in.

Reply
 
Thread Tools
Old March 4th, 2017, 08:57   #76
pkhoury
That guy with the goats
 
pkhoury's Avatar
 
Join Date: Nov 2010
Location: Bandera, TX
Fuel Economy: CR - 36-41, PD - 39-48 (26-32 while towing)
Default

Quote:
Originally Posted by VeeDubTDI View Post
A young female friend of mine just got herself into a predatory loan on a 2017 Jeep Patriot. She has no credit history and doesn't really have a concept of financing or banking. Unfortunately, she decided to replace her aging Explorer with a brand new vehicle rather than consulting with anyone about what the best course of action was. She went down to the Jeep dealer and signed her life away on what is one of the worst loans I've ever seen. $600/month for 72 months at 27% APR. She's going to end up paying $43,000 for that turd if they don't repossess it first. She's also going to be so upside-down that she'll never be able to get rid of it. It's frustrating.

Oh - to add insult to injury, they talked her into a $2,200 maintenance plan that covers oil changes and tire rotations for 2 years or 24,000 miles.
Oh f***! I thought I was bad when I bought my Prius. Similar payments, 13% APR, but I also paid it off in full a few years early and was never upside down. VW rewarded me with 1.9% APR when I bought my Mk6. And those FIAT engines/transmissions in the new Jeeps are crap. PURE CRAP! Had one as a rental - got a CEL and turned out it was a transmission fatal fault. Glad the Jeep's engine shut off when I was on my street/driveway and not on the highway.
__________________
2010 Jetta Sportwagen - Malone DSG tune, Malone Stage 3.5, CR170, buzzken 3" straight pipe + resonator, PolarFIS, Panzer plate, front and rear fogs
2004 Golf GLS 5MT -
Malone Stage 4, VNT17, DC Stage 2 clutch, buzzken 2.5" straight pipe, MFA cluster swap, dieselgeek Panzer plate and short shifter, Bosal towbar, Tekonsha P3 brake controller, Hopkins short-proof trailer light converter
2005 Jetta Wagon GLS - Malone Stage 4, VNT17, MFA cluster swap, Panzer Plate
pkhoury is offline   Reply With Quote
Old March 4th, 2017, 08:59   #77
pkhoury
That guy with the goats
 
pkhoury's Avatar
 
Join Date: Nov 2010
Location: Bandera, TX
Fuel Economy: CR - 36-41, PD - 39-48 (26-32 while towing)
Default

Quote:
Originally Posted by VeeDubTDI View Post
I'm sure she can - at some point when her creditworthiness is at a point that it allows her to. Right now, this is literally the only thing on her credit history, so the chances of being able to refinance right now are slim to none.
If she can scrape together enough money, tell her to get a secured card, ideally from a reputable company like Capital One or her bank. $300, spend $100 each month on fuel and pay in full. After about 6 months, she might have a good shot to refi and potentially cut the interest rate down to under 15%. Many many years ago, I started out with a $500 secured card and ultimately ended up with over $80K LOC a few years later.
__________________
2010 Jetta Sportwagen - Malone DSG tune, Malone Stage 3.5, CR170, buzzken 3" straight pipe + resonator, PolarFIS, Panzer plate, front and rear fogs
2004 Golf GLS 5MT -
Malone Stage 4, VNT17, DC Stage 2 clutch, buzzken 2.5" straight pipe, MFA cluster swap, dieselgeek Panzer plate and short shifter, Bosal towbar, Tekonsha P3 brake controller, Hopkins short-proof trailer light converter
2005 Jetta Wagon GLS - Malone Stage 4, VNT17, MFA cluster swap, Panzer Plate
pkhoury is offline   Reply With Quote
Old March 4th, 2017, 14:23   #78
turbobrick240
Veteran Member
 
Join Date: Nov 2014
Location: maine
Default

Quote:
Originally Posted by VeeDubTDI View Post
A young female friend of mine just got herself into a predatory loan on a 2017 Jeep Patriot. She has no credit history and doesn't really have a concept of financing or banking. Unfortunately, she decided to replace her aging Explorer with a brand new vehicle rather than consulting with anyone about what the best course of action was. She went down to the Jeep dealer and signed her life away on what is one of the worst loans I've ever seen. $600/month for 72 months at 27% APR. She's going to end up paying $43,000 for that turd if they don't repossess it first. She's also going to be so upside-down that she'll never be able to get rid of it. It's frustrating.

Oh - to add insult to injury, they talked her into a $2,200 maintenance plan that covers oil changes and tire rotations for 2 years or 24,000 miles.
Ouch. That sounds like a case file on predatory loans. I agree she should sell that thing asap, and get something like a decent economy car.
turbobrick240 is offline   Reply With Quote
Old March 4th, 2017, 21:10   #79
FordGuy100
Veteran Member
 
FordGuy100's Avatar
 
Join Date: Apr 2011
Location: Silverton, OR
Default

Amex use to backdate if you added a authorized user to your Amex. So if you have had one since the 80's, and you added someone as an authorized user, it would magically show up on their credit as them opening it up back in the 80's. They might still do this.
__________________
16 Jetta 1.4tsi/5 speed. 04 Jetta BEW/5 speed, 1985 F250 6.9IDIT. 2011 JSW DSG, GDE Hot Tune Beta tester.
FordGuy100 is offline   Reply With Quote
Old March 5th, 2017, 08:26   #80
Jetta SS
Veteran Member
 
Jetta SS's Avatar
 
Join Date: Oct 2006
Location: Grand Bay, AL
TDI(s): '98 Jetta
Fuel Economy: 48
Default

Quote:
Originally Posted by FordGuy100 View Post
Amex use to backdate if you added a authorized user to your Amex. So if you have had one since the 80's, and you added someone as an authorized user, it would magically show up on their credit as them opening it up back in the 80's. They might still do this.
I've read of there being companies that will pay you to add someone as an authorized user to a CC to boost their credit. Good idea.
Jetta SS is offline   Reply With Quote
Old March 5th, 2017, 08:50   #81
2015vwgolfdiesel
Veteran Member
 
2015vwgolfdiesel's Avatar
 
Join Date: Jan 2016
Location: Tulsa, Oklahoma
Fuel Economy: AVE City ~ Mid 40s --- AVE Highway Strong Mid 50s
Default

Quote:
Originally Posted by turbobrick240 View Post
Ouch. That sounds like a case file on predatory loans. I agree she should sell that thing asap, and get something like a decent economy car.
predatory loans exist because some one is soooooo horrible in their pass pay records. Their FICO is in the tank

Personally I would loan her a dollar with a $5 bill as collateral ~~ not worth the hassle
2015vwgolfdiesel is offline   Reply With Quote
Old March 5th, 2017, 09:32   #82
VeeDubTDI
Good Ol' Boy
TDIClub Enthusiast
 
VeeDubTDI's Avatar
 
Join Date: Jul 2000
Location: Springfield, VA
Fuel Economy: see signature
Default

Quote:
Originally Posted by pkhoury View Post
If she can scrape together enough money, tell her to get a secured card, ideally from a reputable company like Capital One or her bank. $300, spend $100 each month on fuel and pay in full. After about 6 months, she might have a good shot to refi and potentially cut the interest rate down to under 15%. Many many years ago, I started out with a $500 secured card and ultimately ended up with over $80K LOC a few years later.
Yep - that's what I did after I screwed up my credit back in the mid-2000s. Credit score is knocking on 800 now.
__________________


Trusted TDI Mechanics Map || TDIClub Chat
VeeDubTDI is offline   Reply With Quote
Old March 5th, 2017, 11:39   #83
2015vwgolfdiesel
Veteran Member
 
2015vwgolfdiesel's Avatar
 
Join Date: Jan 2016
Location: Tulsa, Oklahoma
Fuel Economy: AVE City ~ Mid 40s --- AVE Highway Strong Mid 50s
Default

Quote:
Originally Posted by VeeDubTDI View Post
Yep - that's what I did after I screwed up my credit back in the mid-2000s. Credit score is knocking on 800 now.
VeeDub

I am proud of you

I respect you

I do not know you, but I like people ~~ like you.
2015vwgolfdiesel is offline   Reply With Quote
Old March 6th, 2017, 12:02   #84
VeeDubTDI
Good Ol' Boy
TDIClub Enthusiast
 
VeeDubTDI's Avatar
 
Join Date: Jul 2000
Location: Springfield, VA
Fuel Economy: see signature
Default

Thanks. Just trying to do the right thing.
__________________


Trusted TDI Mechanics Map || TDIClub Chat
VeeDubTDI is offline   Reply With Quote
Old March 9th, 2017, 11:54   #85
DSL HED
Veteran Member
 
Join Date: Aug 1999
Location: S. Portland, Maine
Fuel Economy: Better than a gas engine
Default

This is why I'm holding on to my wagon until the end of 2018. My credit is currently over 800 and I don't want another car payment. Might as well wring as much life out of the TDI as I can.

Some people unfortunately don't get educated on money at home or at school and they pay the price for it when they're thrown out into the real world through ridiculous interest rates. I hope the Jeep buying friend is able to get out of that 27% loan insanity.
__________________
2014 Tempest Blue Jetta SE 1.8TSI, dual note horn mod (aka Bluebell)
2012 Candy White Golf wagon mit DSG und aspherical mirrors (aka Waggy)
DSL HED is offline   Reply With Quote
Old March 10th, 2017, 09:14   #86
2015vwgolfdiesel
Veteran Member
 
2015vwgolfdiesel's Avatar
 
Join Date: Jan 2016
Location: Tulsa, Oklahoma
Fuel Economy: AVE City ~ Mid 40s --- AVE Highway Strong Mid 50s
Arrow NOW $1,000,000,000,000 in Credit Card Debt

... and Credit Card debt is a garbage debt.

... nothing to repo

... hang on to your self
2015vwgolfdiesel is offline   Reply With Quote
Old March 10th, 2017, 14:35   #87
dhangejr
Member
 
dhangejr's Avatar
 
Join Date: Mar 2017
Location: Tacoma
TDI(s): mk4 Jetta
Default

This is the American way...it you think giving people the power to spend 90% more than their income is like a certain socialism, which allows people to live outside their means.
It allows us to compete (as Thomas Hobbes might suggest) and in turn this allows marketing to compete. Then many people feel compelled to get a new car despite the insane cost.besides if you default they will sell you another in high interest...gotta do what ya gotta do?
People are like ants running around all doing the same thing without realizing it. Self included. People fall victim to marketing and do things they probably should know in a probably should but they get caught up in this power struggle social competition if you will. Man, if I had money I would be on the Internet right now.
Finally, I always pondered what if everybody were to not pay the banks for one month?
I mean the people deserve their bill that money back right? Haha I realize it's not that simple.
dhangejr is offline   Reply With Quote
Old March 10th, 2017, 14:54   #88
2015vwgolfdiesel
Veteran Member
 
2015vwgolfdiesel's Avatar
 
Join Date: Jan 2016
Location: Tulsa, Oklahoma
Fuel Economy: AVE City ~ Mid 40s --- AVE Highway Strong Mid 50s
Default

Quote:
Originally Posted by dhangejr View Post
This is the American way...it you think giving people the power to spend 90% more than their income is like a certain socialism, which allows people to live outside their means.


It allows us to compete (as Thomas Hobbes might suggest) and in turn this allows marketing to compete. Then many people feel compelled to get a new car despite the insane cost.

besides if you default they will sell you another in high inerest...gotta do what ya gotta do?


People are like ants running around all doing the same thing without realizing it. Self included. People fall victim to marketing and do things they probably should know in a probably should but they get caught up in this power struggle social competition if you will.

Man, if I had money I would be on the Internet right now.
Finally, I always pondered what if everybody were to not pay the banks for one month?
Default?

When your FICO is in the can ~~ you do not get another car (always)
2015vwgolfdiesel is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Approaching 300,000 miles. Words of wisdom to make it to 400,000?? chongosuerte VW MKIV-A4 TDIs (VE and PD) 26 August 28th, 2016 08:52
VW to spend $1,000,000,000 on added production capacity in NA BeetleGo General VW Discussion 12 April 11th, 2015 09:38
2009 JETTA TDI - 75,000 MILES - asking $17,000 Cincinnati, OH allison.p.meyer TDI Cars for Sale/Wanted 2 February 14th, 2013 05:54
Fs:2005 Jetta Tdi Auto 137,000 11,000 In Ohio dieseldream TDI Cars for Sale/Wanted 1 May 16th, 2009 11:28
5,000 or 10,000 Mile Oil changes and 40,000 or 60,000 Timing Belt? Wolfsburg Man VW MKIV-A4 TDIs (VE and PD) 3 December 21st, 2001 07:45


All times are GMT -7. The time now is 18:38.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.
Copyright - TDIClub Online LTD - 2017
Contact Us | Privacy Statement | Forum Rules | Disclaimer
TDIClub Online Ltd (TDIClub.com) is not affiliated with the VWoA or VWAG and is supported by contributions from viewers like you.
1996 - 2017, All Rights Reserved
Page generated in 0.17162 seconds with 12 queries
[Output: 126.35 Kb. compressed to 107.51 Kb. by saving 18.84 Kb. (14.91%)]