Wednesday, June 24, 2009
Thursday, June 11, 2009
I got a new car!!! -Psych!
The silence has been broken. I have finally decided to post again. It isn’t that I haven’t had anything exciting happen lately. It’s quite the opposite actually. I’ve been extremely busy with a lot of very cool things. But what has finally made me post again is something that has me so angry and frustrated that I really don’t know what else to do.
After 8 long years of sticking true to the marvel of modern engineering that is my car, I’ve decided to see other cars. I even found one I like too. This new car in my life is shiny, and exciting, and not a 12 year old beater car. After days of going back and fourth, I finally decided to do what any self-respecting American would do, frivolously throw my savings towards something that I in no way need (granted I do need a new car, but I don’t need a car with all ridiculously awesome stuff this car has). I went to the dealer after work today with the assumption that I would ride home in style. I was wrong.
The experience started off with talk of numbers and minimal paperwork. I gave my payment method some thought and finally decided on putting 60% down and paying the remaining 40% over the next 36 months. For some strange reason, I figured that I would be in good shape for a loan seeing as I was putting down a huge down payment, and have excellent credit. So the paperwork was sent off and I sat and waited. Twenty minutes pass and the loan officer walks up and starts talking to me about how I am not an attractive offer to the credit bureaus, and that the bureaus had rejected me. However, they will offer me a loan with a relatively high interest rate through the dealership. Obviously I was a bit taken back at the thought.
Let me get this straight: credit bureaus don’t want to assume the risk of loaning me money. I know people that are over 60k in debt, make late payments, etc that were offered a loan. But apparently the guy that has worked for the past 11 years to avoid going into debt and paying off college, who makes payments on time, who is obviously completely awesome, is too risky for the banks to loan to. How the freak does this make sense? No wonder the banking/loan/mortgage business is in the effing crapper. They would rather throw money at idiots who can’t handle their money than take a low-risk opportunity.
Now instead of wanting a freaking sweet car, I want to spit in that loan officer’s coffee.
gg guys, gg.
EDIT: Someone who wears big-boy pants over at the dealership called and apologized at the ridiculous interest rate they offered me. They are now offering 5%. New car here I come!
After 8 long years of sticking true to the marvel of modern engineering that is my car, I’ve decided to see other cars. I even found one I like too. This new car in my life is shiny, and exciting, and not a 12 year old beater car. After days of going back and fourth, I finally decided to do what any self-respecting American would do, frivolously throw my savings towards something that I in no way need (granted I do need a new car, but I don’t need a car with all ridiculously awesome stuff this car has). I went to the dealer after work today with the assumption that I would ride home in style. I was wrong.
The experience started off with talk of numbers and minimal paperwork. I gave my payment method some thought and finally decided on putting 60% down and paying the remaining 40% over the next 36 months. For some strange reason, I figured that I would be in good shape for a loan seeing as I was putting down a huge down payment, and have excellent credit. So the paperwork was sent off and I sat and waited. Twenty minutes pass and the loan officer walks up and starts talking to me about how I am not an attractive offer to the credit bureaus, and that the bureaus had rejected me. However, they will offer me a loan with a relatively high interest rate through the dealership. Obviously I was a bit taken back at the thought.
Let me get this straight: credit bureaus don’t want to assume the risk of loaning me money. I know people that are over 60k in debt, make late payments, etc that were offered a loan. But apparently the guy that has worked for the past 11 years to avoid going into debt and paying off college, who makes payments on time, who is obviously completely awesome, is too risky for the banks to loan to. How the freak does this make sense? No wonder the banking/loan/mortgage business is in the effing crapper. They would rather throw money at idiots who can’t handle their money than take a low-risk opportunity.
Now instead of wanting a freaking sweet car, I want to spit in that loan officer’s coffee.
gg guys, gg.
EDIT: Someone who wears big-boy pants over at the dealership called and apologized at the ridiculous interest rate they offered me. They are now offering 5%. New car here I come!
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