Getting straight raped by this auto loan I recently signed...

[Wesley Pipes quotes]

....

1) 28 % interest rate

2)finance charge is 1,972
3) financed 6000
4)number of bi-weekly payments....52 @ 150 a piece
5)put down 1300 but with all the fees and shyt...seems like i aint put down shyt!
6)9479 OWED for an 01 car (yeah nikka im private) with 120k miles man

Had about 3000 in the bank back in May after I quit my job but I couldn't find another job that was steady all summer (temp jobs...then laid off after 3days/1week/ respectively) and ended up having to dip into my savings to survive. Well fast forward to 2 weeks ago and my car (spent 11k for it and it was only worth about 4k) which I had for 6 years and recently had paid off only 2 years ago, broke down. shyt was leaking oil/coolant pipe busted as well and I had no idea oil had been going down. Shop said it was pretty much toast so I was forced to buy a car in 1 day. Applied at carmax and ford and got declined. I'm like.....I paid fukking 11k in payments ON TIME cuz for 3 years straight and nobody can approve me b/c I got 1 past due account on my shyt?! Pay all my bills ON TIME and everything!!! I was pissed off that day man I swear. Straight ready to take the Pt140 and do the damn thang at a bank. fukking credit!! I hate that shyt!!! Then one guy asked me about how long I had been on the job and I was like 3 months (more like 3 days but w/e) and he was like "we don't mess with temp agencies as signs of employment" Really tho bruh?! Man fukk him. Then strolled on over to the buy here -pay here used car dealership and got approved for 28% and the foreseeable future being fukked for me right now....Man....fukk this shyt

How the fcku do you owe 10K on a 11 year old car?

28 percent?

Just start over man. Join the military or something and get you a steady check to get your finances straight.

 

[Klyk21]

should have never signed it dude.












or at least get somebody to co sign

Your right but I (being the type of person I am) can't just sit back and watch people, especially the poorer black people getting schemed on like this! Every time I pass a bustop or see a bus, it's full of blacks! Young, old etc. But white young kids (indians, asians, some africans etc) are getting chartered around in their parent's gs's, and benz and getting 5000k+ off lot for college! This situation has honestly ignited a fire inside me bruhs. I'm sick of how black people just supposed to sit back and get pie in their fukking faces while everyone else just goes around like business as usual!!

 

[Klyk21]

28

Highest I heard was like 20 when I was selling.. Dealer prolly said don't even look at anything else, this is the only car we can sell you

yep! nailed it. wanted a civic but dude was like I couldn't get approved for it unless I put down another g. Was in rush and needed a car because I couldn't miss anymore days of work or I'd get laid off (temp...took 1 day already to car search). My trade in car was chugging along and I felt it would probably conk out any moment. Didn't research or anything before going b/c as said, this was 100% unexpected situation or as i'd call it....CFU..."conveniently fukked up". I negotiated a little and got my payments down some and the carfax is clean as a whistle so hopefully it holds up until I pay it off. Trust, I DID NOT want to get into another auto loan. I had PLANNED my next car to be paid cash for (ala the 3000 i had in my bank account for repairs and savings) but that didn't happen bruh's.

 

[Wesley Pipes quotes]

Your right but I (being the type of person I am) can't just sit back and watch people, especially the poorer black people getting schemed on like this! Every time I pass a bustop or see a bus, it's full of blacks! Young, old etc. But white young kids (indians, asians, some africans etc) are getting chartered around in their parent's gs's, and benz and getting 5000k+ off lot for college! This situation has honestly ignited a fire inside me bruhs. I'm sick of how black people just supposed to sit back and get pie in their fukking faces while everyone else just goes around like business as usual!!

I ain't going to dump on you bro cause you seem like a good dude, with good intentions and bad beats. I'm just going to keep it 100 with you man. Brotha to brotha.

You 27.

How much college you got?

You got your associates?

If not be realistic. You not graduating till you 30, most likely 31. Unless you come up on some job that pays well, you going to be struggling till then while taking out loans for college. You 9-10 years behind the curve by then.

Got no kids.

Don't do drugs?

pick one.

 

[TruStyle]

You made a buying decision in one day? That's very foolish.

You also want to one of those " we approve any one places"..

I know it sucks being without a car but you could have shopped around and looked at options.

Paying that much for a car that old with that many miles is crazy.

But you sound like you had no idea what you were doing when you went to them.

Since you said they told you what you can have.

Should have took your pops with you.

Those places exist to take advantage of stupid people.

I see no one to blame but your self. Sorry son

 

[DallasTxRep]

Damn I got 13% when I was 20

 

[Klyk21]

I ain't going to dump on you bro cause you seem like a good dude, with good intentions and bad beats. I'm just going to keep it 100 with you man. Brotha to brotha.

You 27.

How much college you got?

You got your associates?

If not be realistic. You not graduating till you 30, most likely 31. Unless you come up on some job that pays well, you going to be struggling till then while taking out loans for college. You 9-10 years behind the curve by then.

Got no kids.

Don't do drugs?

pick one.

Been considering armed forces for a while now. Just got in school this semester to try to build credits and shyt for the armed forces because I have GED, they want college credits in lieu of GED (or so I've read...haven't contacted recruiter yet). I know I'm late and I feel the pinch bruh.

 

[Loose]

must be a buyhere pay here

 

[Malta]

Burn it, say one of your friends left a cigg in the ash tray.

 

[Klyk21]

Guess the good news is that If i pay it off early, I won't accrue much interest...would only have to pay about 5k or so and the car is worth about 3.5 to 4 via kelly blue book

 

[Wesley Pipes quotes]

Been considering armed forces for a while now. Just got in school this semester to try to build credits and shyt for the armed forces because I have GED, they want college credits in lieu of GED. I know I'm late and I feel the pinch bruh.

Respect bro. I'm just trying to give it to you straight. Everybody want the same things but not everyone is going to take the same path to get them. Just when you get in, take advantage of your tuition assistance. They give you $4500 a year for free and I also believe you can access you G.I. Bill while active if you go over that. But so many schools like Hampton, North Carolina Central and others hook you up with discounts.

I knew a couple of brothas with the same story who joined the military and did what they needed to do. Some are still in making rank. Others got out with their education and work in jobs from TSA to Teacher. I don't know. It's what you make of it, but for you. You'd get out of debt for sure and credit companies will be more lenient towards you cause they know you got money coming in no matter what. You got to be careful though cause there are some predators out there.

Usually a Company Commander will have a list of dealerships and other places which are marked as predatory. I've gotten a head of myself but just trying to give you insight.

 

[Youngdev]

I think the military got a cut off age, might be 28.

 

[krackdagawd]

Why would you even sign that breh

 

[Malta]

I think the military got a cut off age, might be 28.

Army - 35 (must ship to basic training prior to 35th birthday. The Army experimented with raising the age limit to age 42 for a brief period of time, but effective April 1st, 2011, the Army has reverted to the lower age limit.
Air Force - 27
Navy - 34
Marines - 28
Coast Guard - Age 27. Note: up to age 32 for those selected to attend A-school directly upon enlistment (this is mostly for prior service).



Reserve Non-Prior Service

Army Reserves - 35 (must ship to basic training prior to 35th birthday)
Army National Guard - 35 (changed from 42 in 2009)
Air Force Reserve - 34
Air National Guard - 40 (Changed from 34 in Aug 2009)
Naval Reserves - 39
Marine Corps Reserve - 29
Coast Guard Reserves - Age 39

 

[SLCpremium]

Even the loan sharks are like

And its a 01 car