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What a financial dumbass. The car dealer and financier did not point a gun to her head and told her to spend $83 k on a car. I would think her husband would have a say in such an extravagant expense. Also she could have tried to refinance the loan if she thought the interest rate was too high. I have a feeling this family is headed to bankruptcy.
1 posted on 04/15/2024 10:40:17 AM PDT by C19fan
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To: C19fan

...and they are allowed to drive....


26 posted on 04/15/2024 11:00:44 AM PDT by Varsity Flight ( "War by 🙏 the prophesies set before you." I Timothy 1:18. Nazarite warriors. 10.5.6.5 These Days)
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To: C19fan
Not only did she not make a down payment, she said she traded in a previous car on which she had fallen into negative equity. While rolling over debt into a new loan can seem convenient, it can be very dangerous and dealers have been known to not properly inform buyers that they will still be responsible for the remaining balance.

Let's review: She bought an $84,000 SUV with no money down, and traded in a car on which she still owed money. Tell me again why I should feel sorry for her.

28 posted on 04/15/2024 11:02:18 AM PDT by GreenHornet
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To: C19fan

Stupid is as stupid does.


30 posted on 04/15/2024 11:03:04 AM PDT by glorgau
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To: C19fan

When is a Chevy Tahoe a “dream car”?????

Lets start there. That stupidity explains why the rest of the stupidity took place.


31 posted on 04/15/2024 11:03:41 AM PDT by Nifty
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To: C19fan

What did she use the vehicle for ? latte runs to Starbucks ? Trips to the plastic surgeon?


32 posted on 04/15/2024 11:04:32 AM PDT by OldHarbor
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To: C19fan

Couldn’t afford the car from day one. Never should have made that purchase. Her problem now. Lessons learned, hopefully she’ll make better choices in the future.


34 posted on 04/15/2024 11:10:39 AM PDT by Reno89519 (If Biden is mentally unfit to stand trial, he is mentally unfit to be president. He needs to resign.)
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To: C19fan
From the article: 'I did not go with my husband and as a female I feel they took advantage of me. They knew I really wanted the car and that I was by myself,' she said.

This really pisses me off. Make a bad decision, pull the "poor, helpless woman" card. Did she not pass basic math?
35 posted on 04/15/2024 11:12:06 AM PDT by armydoc
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To: C19fan

dream car, nightmare debt


36 posted on 04/15/2024 11:13:22 AM PDT by PGR88
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To: C19fan

She whines that the dealership took advantage of her because she was female. What an insult to women. They took advantage of her stupidity and greed to have something she couldn’t afford. She even admits trading in a vehicle that had a value less than what she owed. Not a quick learner.


37 posted on 04/15/2024 11:14:26 AM PDT by Chewbarkah
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To: C19fan

No sympathy. What. a. loser.


40 posted on 04/15/2024 11:23:53 AM PDT by Menehune56 ("Let them hate so long as they fear" (Oderint Dum Metuant), Lucius Accius (170 BC - 86 BC))
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To: C19fan

She apparently makes $50K/year but was able to finance an $83K car?

She’s an idiot along with whomever funded her note.


42 posted on 04/15/2024 11:34:08 AM PDT by WarANDPiece
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To: C19fan
Also she could have tried to refinance the loan if she thought the interest rate was too high. I have a feeling this family is headed to bankruptcy.

She was so happy that Trump was removed from office that she decided to splurge. Her man Biden screwed her though, even though she was too old for him, with inflation. Her interest rate would have been much higher, so no, that wasn't an option.

At least bankruptcy is an option.

43 posted on 04/15/2024 11:36:22 AM PDT by Robert DeLong
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To: C19fan

'Honestly, it blows my mind that I have paid $50,000 into this car and only paid off $10,000,' Arnold said. 

Wrong. She had negative equity on her trade in. She's actually paid $50,000 in on TWO cars.

Idiot woman.

49 posted on 04/15/2024 11:50:23 AM PDT by Responsibility2nd (A truth that’s told with bad intent, Beats all the lies you can invent ~ Wm. Blake)
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To: C19fan

maybe if she hadn’t wasted so much money on lip fillers and botox treatments!

She looks AWFUL!

Why is it these women can’t SEE how AWFUL this makes them look!?


54 posted on 04/15/2024 12:08:13 PM PDT by TexasFreeper2009
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To: C19fan

You could buy half of a nice income producing rental property for that amount.
And then buy a used Ford Fusion for $5,000.

Priorities, some people have unhealthy ones.


55 posted on 04/15/2024 12:10:09 PM PDT by HereInTheHeartland (Have you seen Joe Biden's picture on a milk carton?)
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To: C19fan

Not understanding compound interest:

payment = PMT( rate, payments, amount)
payment = PMT(10.2/1200, 84,84000)
payment = $1,403.20

10.2% APR, is 10.2/1200 monthly rate
84 payments
$84,000 is probably the new vehicle + negative equity

If the original loan was 84,000 dollars, at 10.2% compounded monthly, after 36 payments she would have paid $50,400 in total, of which is $21,631.48 interest, $28,883.72 of principal, and owed $55,116.28.


58 posted on 04/15/2024 12:18:35 PM PDT by Lonesome in Massachussets (Perdicaris alive or Raisuli dead!)
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To: C19fan

It sounds like it’s time for the Feral Government to give vehicle loan forgiveness. /s


60 posted on 04/15/2024 12:20:16 PM PDT by Clay Moore (My pistol identifies as a cordless hole punch. )
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To: C19fan

But she “deserved” it


62 posted on 04/15/2024 12:26:01 PM PDT by AppyPappy (Biden told Al Roker "America is back". Unfortunately, he meant back to the 1970's)
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To: C19fan

.


63 posted on 04/15/2024 12:34:17 PM PDT by sauropod (Ne supra crepidam)
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To: C19fan

No down payment, plus negative equity in her trade-in. This chick didn’t just get this stupid overnight, she’s been at it for awhile.


65 posted on 04/15/2024 12:49:40 PM PDT by hinckley buzzard ( Resist the narrative. )
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