Crnr2Crnr Posted October 29, 2021 Share Posted October 29, 2021 https://www.consumerreports.org/car-financing/many-americans-overpay-for-car-loans-a8076436935/ hooray, there's a new storm brewing Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted October 29, 2021 Share Posted October 29, 2021 people were choosing cars over houses in 08-2012 so I don't think it's a huge risk TBH. Quote Link to comment Share on other sites More sharing options...
Gold Member 800renegaderider Posted October 29, 2021 Gold Member Share Posted October 29, 2021 “Two years ago, a Maryland resident with sterling credit financed a 2018 Toyota Camry with a 19 percent annual percentage rate loan and a monthly payment of about $823.” How stupid do you have to be to first pay 19% and second pay $800 month for a Corolla. They literally advertise them on tv for $189 a month 1 Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted October 29, 2021 Share Posted October 29, 2021 2 minutes ago, 800renegaderider said: “Two years ago, a Maryland resident with sterling credit financed a 2018 Toyota Camry with a 19 percent annual percentage rate loan and a monthly payment of about $823.” How stupid do you have to be to first pay 19% and second pay $800 month for a Corolla. They literally advertise them on tv for $189 a month People want to shirk responsibility- fuck those idiots. 1 Quote Link to comment Share on other sites More sharing options...
Gold Member 800renegaderider Posted October 29, 2021 Gold Member Share Posted October 29, 2021 Just now, Angry ginger said: People want to shirk responsibility- fuck those idiots. If you’re to lazy to read the paperwork you deserve everything you got coming to ya. That’s just stupidity. Quote Link to comment Share on other sites More sharing options...
F3600 Posted October 29, 2021 Share Posted October 29, 2021 50% of the people graduating high school don't understand how interest works or their credit score. Quote Link to comment Share on other sites More sharing options...
Gold Member 800renegaderider Posted October 29, 2021 Gold Member Share Posted October 29, 2021 Just now, F3600 said: 50% of the people graduating high school don't understand how interest works or their credit score. Was just gonna say they really need to start teaching simple financial info in jr high or high school. Clearly lots of parents are failing at that job. 1 2 Quote Link to comment Share on other sites More sharing options...
Catalina Posted October 29, 2021 Share Posted October 29, 2021 I can't be out of money, I still have checks left... Not that any of them know how to write a check these days. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted October 29, 2021 Share Posted October 29, 2021 1 hour ago, F3600 said: 50% of the people graduating high school don't understand how interest works or their credit score. People that have an above average understanding of economics often don’t understand their credit score. I sometimes wonder if the CB themselves understand how their own credit scores work. Quote Link to comment Share on other sites More sharing options...
teamgreen02 Posted October 29, 2021 Share Posted October 29, 2021 Cars are what keeps many in the middle class from building any real wealth. Don't finance depreciating assets. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted October 29, 2021 Share Posted October 29, 2021 Whenever financing a car I’ve always use LightStream of Suntrust Bank. Apply online and within minutes an approval comes through. Money is in my account the next day. Great rates and it keeps the title clear. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted October 29, 2021 Platinum Contributing Member Share Posted October 29, 2021 wo years ago, a Maryland resident with sterling credit financed a 2018 Toyota Camry with a 19 percent annual percentage rate loan and a monthly payment of about $823. By the time the loan is expected to be paid off, in late 2025, the borrower will have spent roughly $59,000—more than twice the car’s value and about what you would pay for a high-end Tesla Model 3. education aint cheap Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted October 29, 2021 Platinum Contributing Member Share Posted October 29, 2021 3 hours ago, 800renegaderider said: “Two years ago, a Maryland resident with sterling credit financed a 2018 Toyota Camry with a 19 percent annual percentage rate loan and a monthly payment of about $823.” How stupid do you have to be to first pay 19% and second pay $800 month for a Corolla. They literally advertise them on tv for $189 a month yep Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted October 29, 2021 Share Posted October 29, 2021 1 hour ago, ActionfigureJoe said: People that have an above average understanding of economics often don’t understand their credit score. I sometimes wonder if the CB themselves understand how their own credit scores work. its really not that complex keep cards under 50% of limit pay on time keep older debt open as length is important don't have too many inquiries Do that and you should be mid 700's+ all day long. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted October 29, 2021 Platinum Contributing Member Share Posted October 29, 2021 Just now, Angry ginger said: its really not that complex keep cards under 50% of limit pay on time keep older debt open as length is important don't have too many inquiries Do that and you should be mid 700's+ all day long. Doesnt take much more then that to get above 800. 1 Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted October 30, 2021 Share Posted October 30, 2021 2 hours ago, Angry ginger said: its really not that complex keep cards under 50% of limit pay on time keep older debt open as length is important don't have too many inquiries Do that and you should be mid 700's+ all day long. Not sure how accurate it is but I get a updated every mo from I think lending tree? Always around 820 to 830 . It is odd some times I expect it to be low because I have a bigger job on a card like north of 30k and it will only drop a few points . Pay it off next score only up a few points ? Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted October 30, 2021 Share Posted October 30, 2021 4 hours ago, ActionfigureJoe said: People that have an above average understanding of economics often don’t understand their credit score. I sometimes wonder if the CB themselves understand how their own credit scores work. You look to be more than ok with the way the fed govenment runs there financial future. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted October 30, 2021 Share Posted October 30, 2021 3 hours ago, Angry ginger said: its really not that complex keep cards under 50% of limit pay on time keep older debt open as length is important don't have too many inquiries Do that and you should be mid 700's+ all day long. I understand all of that. Yet there's several different CB with what can be widely different ratings even when weighted evenly. There's also the problem that comes from an error and the amount of time it takes for a correction. Sometimes over 60 days with little response from the offending CB. I myself had an issue in "98 when I was in the process of building a house. A bankruptcy was erroneously reported. It was a huge headache that threatened to effect the draws. Fortunately the lending institution was understanding. It fell on me to obtain all the necessary documents proving it was a false report. Before I had gathered all the necessary documentation, the bankruptcy report vanished as weirdly as it appeared. Perhaps the process is easier now. Back then it was a huge hassle 1 Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted October 30, 2021 Share Posted October 30, 2021 1 hour ago, Ez ryder said: You look to be more than ok with the way the fed govenment runs there financial future. Like Trump??? Quote Link to comment Share on other sites More sharing options...
Gold Member EvilBird Posted October 30, 2021 Gold Member Share Posted October 30, 2021 7 minutes ago, ActionfigureJoe said: Like Trump??? Rent Free!!!!!!! What a faggot !! Quote Link to comment Share on other sites More sharing options...
SkisNH Posted October 30, 2021 Share Posted October 30, 2021 14 hours ago, ActionfigureJoe said: People that have an above average understanding of economics often don’t understand their credit score. I sometimes wonder if the CB themselves understand how their own credit scores work. They do..the credit score has zero to do with net worth or wealth or income.....it is strictly how well you handle debt. Having a high credit score usually means you are financed out the ass. My score comes up as no rating...because we don't use debt. Yet I have 3 properties paid in full, I'm a business owner and my wife has a good IT job...we simply chose not to play their game. 1 Quote Link to comment Share on other sites More sharing options...
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