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MyFako Condones this Crap

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Posted (edited)
1 hour ago, Big Bear said:

1) The clear writings of a neckbeard made that unbearable to read.

2) If customer service was that terrible, I would cancel a card.

3) Macy's = luxury!?!?!?

4) R2D2 luggage = luxury!?

5) #CreditYOLO (good god)

 

myFICO is as myFICO does ...

 

< corollary is "life is like a box of credit card apps" >

Edited by hdporter

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On 5/17/2020 at 9:53 PM, hegemony said:

loan is 8k higher than purchase price... and good salary doesn't mean good with finances... it should take 6 years making that kind of dough to PIF

 

NEW/USED: New

YEAR OF VEHICLE: 2020
MAKE: Jaguar
MODEL: E-Pace
MILEAGE: 32
FINANCE/LEASE: Finance

PURCHASE PRICE: $56K
AMOUNT OF LOAN: $64K
 

At least they got zero percent, but if they DON'T pay more than minimum, they will be upside down for quite a while.  The additional $8K COULD be taxes/registration as well as paying for extended warranty that they like to offer at point of sale.  

 

That said, the E Pace has to be one of the UGLIEST vehicles I have seen under that roof...it makes the Land Rover EVOQUE seem a thing of beauty that someone stepped on to squash like a bug.  There was one in the lobby while I was in for the 48K mile service interval last week.  I don't envision resale values being there a few years down the road as they come in off of the lease plans...and I would guess most go out as leases since it was a relative new model with, as I recall, a newly designed engine.  

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Posted (edited)

okay... I just can't... just can't... nary a word about planning financial decisions.

 

Went in for oil change,came out w/a new truck!

 

Quote

My 2014 Lariat Super Crew needed servicing. I was at 115,000 miles. On myntruck were KG 20" wheels, and the Nitto Grapplers ($4500 total..just for those curious)

so a turd with turd accessories... what are you compensating for?

 

Quote

I had on for 3 years were beat. Really beat. Two front coil springs were busted. Check engine light on for a few months? That was an oxygen sensor. My running boards were both damaged from icy snow banks this past winter. There were two dents on the drivers door

so you didn't take care of it and it showed.

 

Quote

Here is my question: Is 4.9% too much? The finance charge for this $32,000 truck is 5k. 72 payments at $492 a month, almost $100 a month less than my '14. They gave me 13k for my old truck, 9k went to BOA (payout), the 3k balance applied as a down payment.

wow. you like paying off the salesperson's mortgage. 72 effing payments :lol:

Edited by hegemony

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55 minutes ago, hegemony said:

okay... I just can't... just can't... nary a word about planning financial decisions.

 

Went in for oil change,came out w/a new truck!

 

so a turd with turd accessories... what are you compensating for?

 

so you didn't take care of it and it showed.

 

wow. you like paying off the salesperson's mortgage. 72 effing payments :lol:

truck_nuts1.jpg

 

 

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LOL! That "new truck" already has a few miles....

 

I now have a sharp 2017 former Ford lease Super Crew with 60k miles.

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The showing of naivete continues when they admit to buying into the claim that 4.9% was the BEST that could be obtained.  I wonder how much it hurt when they had SUCKER tattooed on the forehead.

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Scores above 750, already belongs to a credit union, and willingly stepped on the landmine that is 5/3rd for ~5% loan.  Yeah, these are the people allowing me to have lower rates and profit off of rewards.

 

#SalamandersUnited

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Bear down the rabbit hole...

 

 

From an 'established contributor' in a thread for someone looking for 84+ month auto loans:

 

Quote

 

 C'mon... 84 months is bad how?

 

 The car might be worth less at the end of the term, so private sale value or trade-in value is lower than it would be at the 60 or 72 month term.

 

 Big deal there are worst things you can do with your money.

 

 Modern cars last 10 years at least with proper maintenance. Hyundai/Kia goes out to 10/100,000 on powertrain. Today's carrots of 0% and 84 months is quite good if you ask me.

 

 You'll see more next month, the problem is 0% helps those who don't need it, not the people who actually need it. Credit is meritocracy based, the better you do with it, the more you're rewarded for it.

 

 But like 2008, this is not normal and most economic activity has stopped. Every captive lender will use the 0%/84 carrot to get you into the showroom next month.

 

 I feel like these questions are philosophical discussions not financial.

 

 

It just gets worse from there...

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2 hours ago, Big Bear said:

Bear down the rabbit hole...

 

 

From an 'established contributor' in a thread for someone looking for 84+ month auto loans:

 

 

It just gets worse from there...

I truly do not think anyone over there has looked at depreciation chart for cars. Personally, I would never buy a new car under any circumstance. For example, I bought my most recent one used, 2 years old, with 20,000 miles on it. I bought it for about 40% less than what I would have paid for a new one, and I still got an essentially new car that was under warranty. It's a Toyota, so I am going to be enjoying it for many years and miles to come, not replacing it at 100,000 miles.

 

The best car investment ever made was a VW TDI Jetta that was bought brand new (by my spouse) in 2009. We drove it 250,000 miles without too many repairs. Then dieselgate happened. The car was still running fine, but as part of the settlement, they bought the car back from us for $13,000! I think it was around $26k new in 2009 (fully loaded). So we got to drive this car for 250,000 miles, about 7 years, and it only cost $13k. Not too shabby!

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Posted (edited)

 

 

APPROVING BANK: FORD CREDIT
BUREAU PULLED: Experian
CREDIT SCORE: 674 FICO Auto 2 (highest score they used)

SOFT PULL/HARD PULL: HP
CUSTOMER STATE OF RESIDENCE: ARIZONA
NEW/USED: NEW
YEAR OF VEHICLE: 2020
MAKE: FORD
MODEL: EXPLORER
MILEAGE: 24
FINANCE/LEASE: FINANCE
PURCHASE PRICE: $44,063.99
AMOUNT OF LOAN: $49,406.23
TERM CONTRACTED: 75 M0. FLEX PAY
APR/LEASE RATE: 1.9%
MONTHLY PAYMENT: 595.81 (for 36 months) 801.47 (30 months after)
ANNUAL INCOME: 50,000.00
 

 

WTF is a flex pay? So balloon payments? And a loan equal to income? 75 effing months?

 

ETA: the payment math doesn't work either.

Edited by hegemony

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this is one of the best posted ever on MFF. The person had money, took the loan for only 3 years... BUT, and this is where I think there is not a good decision 1) it is a Buick 2) they don't know who they are getting in bed with (BBVA) and 3) 3.99% for someone with a 780 FICO (assuming it is FICO) AND LTV of 47% is outrageous.

 

 

APPROVING BANK: BBVA (whoever they are)
BUREAU PULLED: EX
CREDIT SCORE: 780
CUSTOMER STATE OF RESIDENCE: AZ
NEW/USED: New
YEAR OF VEHICLE: 2020
MAKE: Buick
MODEL: Encore
MILEAGE: 18
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 12171 LTV 47%
TERM CONTRACTED: 36 Months
APR/LEASE RATE: 3.99%
MONTHLY PAYMENT: 360
MISCELLANEOUS COMMENTARY: No nonsense fees, just the usual Doc Fee. Only 4 inquiries - the dealer, BBVA and two that I started on my own - Cap1 and US Bank, all within the same 48 hour period.

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BBVA merged with Compass some years back.  I don't do business with them but I have never heard of problems locally (we used to have one of them across the street from our building and I know there are several in the Houston area, most of which began life AS Compass).  No idea about their online interface other than I don't remember them having credit card applications online...

 

Beyond that...yeah, the terms are borderline suckish from what I was seeing on multiple sites a few weeks ago. 

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1 hour ago, hegemony said:

this is one of the best posted ever on MFF. The person had money, took the loan for only 3 years... BUT, and this is where I think there is not a good decision 1) it is a Buick 2) they don't know who they are getting in bed with (BBVA) and 3) 3.99% for someone with a 780 FICO (assuming it is FICO) AND LTV of 47% is outrageous.

 

 

APPROVING BANK: BBVA (whoever they are)
BUREAU PULLED: EX
CREDIT SCORE: 780
CUSTOMER STATE OF RESIDENCE: AZ
NEW/USED: New
YEAR OF VEHICLE: 2020
MAKE: Buick
MODEL: Encore
MILEAGE: 18
RETAIL/LEASE: Retail
AMOUNT OF LOAN: 12171 LTV 47%
TERM CONTRACTED: 36 Months
APR/LEASE RATE: 3.99%
MONTHLY PAYMENT: 360
MISCELLANEOUS COMMENTARY: No nonsense fees, just the usual Doc Fee. Only 4 inquiries - the dealer, BBVA and two that I started on my own - Cap1 and US Bank, all within the same 48 hour period.

This is the car I got in March! My late husband was iffy on our first Encore, but I thought he was just being a British snob about it.

 

What's the LTV here about? A new one, base starts at $23000. So did they put down $10K+?

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Posted (edited)
1 hour ago, centex said:

BBVA merged with Compass some years back.  I don't do business with them but I have never heard of problems locally (we used to have one of them across the street from our building and I know there are several in the Houston area, most of which began life AS Compass).  No idea about their online interface other than I don't remember them having credit card applications online...

 

Beyond that...yeah, the terms are borderline suckish from what I was seeing on multiple sites a few weeks ago. 

my point is simply they took out a loan from a company they apparently never heard of bother to learn about.

Edited by hegemony

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29 minutes ago, smartlypretty said:

This is the car I got in March! My late husband was iffy on our first Encore, but I thought he was just being a British snob about it.

 

What's the LTV here about? A new one, base starts at $23000. So did they put down $10K+?

yes, having money in the game is one of the smart things they did.

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someone just got a used Toyota with a $630 monthly and comments "I was hoping to buy a house later this year and even though I bit the bullet and bought the car, I hope I can still get the house done too."

 

I can already see the post in 6 months bitching about DTI and a mortgage denial...

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20 hours ago, hegemony said:

someone just got a used Toyota with a $630 monthly and comments "I was hoping to buy a house later this year and even though I bit the bullet and bought the car, I hope I can still get the house done too."

 

I can already see the post in 6 months *Admin and our Terms of Service prohibit profanity*ing about DTI and a mortgage denial...

A Toyota what?!

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29 minutes ago, smartlypretty said:

A Toyota what?!

Rav IV IIRC. I'm not knocking the car but do it seems like a strange choice of something to covet over the decades (as opposed to coveting any particular sports car, etc.)

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4 hours ago, hegemony said:

Rav IV IIRC. I'm not knocking the car but do it seems like a strange choice of something to covet over the decades (as opposed to coveting any particular sports car, etc.)

The current RAV4 is an abomination.  I've had a couple as rentals.

 

The touch screen on our 2008 Lexus RX has higher resolution and it's more intuitive.  

 

It'll do 0-60... eventually.  And once it's moving at freeway speeds it sounds like a hotel hair dryer.

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48 minutes ago, cv91915 said:

The current RAV4 is an abomination.  I've had a couple as rentals.

 

The touch screen on our 2008 Lexus RX has higher resolution and it's more intuitive.  

 

It'll do 0-60... eventually.  And once it's moving at freeway speeds it sounds like a hotel hair dryer.

 

When a RAV4 is what's pre-assigned in the rental lot, I don't turn my head up at it (assuming it's not a week long rental).  I find it acceptable.  Mind you, on my preference list it ranks below everything other than "anything" Hyundai or Kia. 

 

I ultimately got Avis to etch into my profile "No HYUNDAI!".  Mind you, they're the prettiest lawnmowers on the planet (that is a lawnmower engine under the hood, right?)

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Posted (edited)
36 minutes ago, hdporter said:

 

When a RAV4 is what's pre-assigned in the rental lot, I don't turn my head up at it (assuming it's not a week long rental).  I find it acceptable.  Mind you, on my preference list it ranks below everything other than "anything" Hyundai or Kia. 

 

I ultimately got Avis to etch into my profile "No HYUNDAI!".  Mind you, they're the prettiest lawnmowers on the planet (that is a lawnmower engine under the hood, right?)

I have really low expectations when it comes to rental cars, and I'm often pleasantly surprised (Ford Fusion, for example).  Elantra?  Sure.  Malibu?  Fine.

 

I usually rent from Hertz, where you can choose from an entire row of underwhelming vehicles, but I end up at Avis when I do one-way rentals.

 

The one-way rates through my employer's contract with Avis are amazing, but that's when I end up with cars like the RAV4... or the Ram 1500 Crew Cab I picked up in Moline, Illinois, a couple of years ago.

 

 

Edited by cv91915

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