Tales From The Dealership: Fucked Up Credit Edition

finally get to one of these early.
Truly the most blessed of days

>mfw

HURRY THE FUCK UP DOOD

This thread is exactly what i needed tonight, 10/10 timing

Ah, a story about the brown people.

Type faster u fag

fuck LPG, hurry up every chance you get, shit

Fuck, that was a previous thread. Sorry.

YOU CALM YOUR TITS!

you're a great tripfag LPG, but i really wish you'd pretype your greentexts.
Then again, just hanging out in here anticipating your next post is kinda fun too

...

>its a niggers are retards greentext
it gets repetitive after a while you guise :/

When you're done typing, what are some good tips for haggling? I'm going out sometime this week and I'm taking a look at a couple Chevrolet SS models.

...

It gives us a chance to conversate. Kinda like a short intermission

>the daughter lives at home with mom (this will become important later)
>she is unemployed
>her only income is drawing disability for around 900 a month
>mom and sister both make it clear from the start they aren't going to co-sign (which is hilarious on the face, given her 'MUH CREDIT GUD!' song and dance earlier
>so I get in all the info, punch in the info for the car, and send this shit off to the banks
>Tier I, II, and III...decline
>Tier IV.......ALSO DECLINE
>holy_shit_balls.exe
>it's been FOREVER since I've seen someone get flat out declined
>usually one of the tier III or tier IV banks will at least make an offer. they might want a huge down payment, or have a huge APR, but they at least make an offer
>getting declined outright means you have some truly epic fuck ups on your credit.
>so I go back to the office and tell the trio they were declined on the BMW
>all 3 start squawking at once, all bitching to various degrees about not getting the approval
>I have to explain that the banks make the decision to extend a loan offer or not, and that I have no control over that
>but, in an offer to calm the chimp out down, I tell them I will contact one of the lenders to see if there is anything we can do to get an approval
>I pull the phone number for our tier iv bank, and call them up, give them the application number, and get routed to the analyst who looked at it.
>the guy has to stifle a laugh when he pulled the application up on his side.
>tells me her credit is absolute shit.
>Only way they would offer an approval is on a 2015 model year car, less than 30K miles, less than 14K
>I tell him she lives at home with mom, has no way to prove any stipulations other than her disability income
>says they would only offer above loan on condition that a GPS tracker is fitted before she leaves the lot
>we both have a giggle, and I ask guy if he can fax me a copy of the approval + her credit score over so I can lay this shit out
>he agrees

>>Tier IV.......ALSO DECLINE
what a tweest

bank analyst faxed over the documents, THIS was her credit score, let that shit sink in before the story continues

oooohh shit

but how

Cheezus
There's homeless people with higher scores than that

Did she sign up for and max every credit card that she has ever gotten in the mail?

Why do banks only want to finance brand new cars?

i'm more worried that there are 4% of people with a lower score than that

>black woman on disability living at home with momma
>488 credit score

that, then not pay a dime thinking she was getting away with it

Yeah if only they would learn to stop being retarded

Warranty means they're less likely to become thrashed heaps of shit, hence holder a greater value for WHEN the bank have to repossess it.

>Just broke up with the gf of two years 20 minutes ago
>lpg thread

There is a god.

They can recoup the most resale value when they are inevitably repo'd

How the fuck do these people manage to stay alive? That's horrific.

That makes sense, thanks.

F

>How the fuck do these people manage to stay alive? That's horrific.
The Government is their "Masta", getting basically free housing, free electricity, free TV and cell phones, free food... hell, in some cases free tickets to theme parks like Kings Island

I believe this is the second story I've seen where someone got flat out declined by a Tier IV bank. Forgot the first. I do remember how a Tier IV bank pulled their offer after finding out that the client was trying to lie about having a full time job.

my job is getting those people cell phones. They understand the system.

Yet you're voting for a socialist

Oh it just gets better with you

>488
>4% of Americans have a score lower than that

the obamaphone, as it is commonly called, is a complete socialist program created by ronald reagan. it was bush who transferred subscriptions to cheap cellphones.

>so, I now have in hand the only way this girl gets a car through us
>can only be a used 2015
>can't have more than 30K miles
>can't be more than 14K out the door
>we have to arrange for a GPS tracker to be fitted before she takes legal possession
>I also have in hand her credit report with her busted ass 488 credit score.
>we actually have a used 2015 Hyundai Accent on the lot that I can get her into for under 14K out the door.
>before I even go back to wade into this shit-bog, I write up the deal on the Accent
>I put all the paperwork in order, get my clip board with the loan for the Hyundai, and walk back in
>first things first, I put the credit report on the table, and walk through that
>to give you the summarized version, I tell her that her credit is shit
>next, I tell her the that only one bank is willing to offer her a loan
>then I outline the conditions for getting that loan
>then I take my clipboard with the contract for the accent and put it on the table
>I tell her that's all I've got, she can take the hyundai, with 500 down, at 18% for 72 months, or keep kicking her can down the road
>mom and daughter both have a look of utter defeat on their faces
>mom keeps repeating "this ain't right, this just ain't right"
>I finally look up and ask her directly "what isn't right ma'am"
>Her: "Just, dis, y'all only given us one option, dat intress rate, dis just isn't right"
>Me: And you are more than welcome to seek a better deal elsewhere ma'am, but if you want a car from us, this is what's on the table, and it won't be here tomorrow.

Long story short, she signed, because they'd been 11 other places and couldn't get anything. she picks the car up friday, as the bank finally got someone out to put the GPS tracker on the damn thing

>tfw disabled NEET living with momma
>tfw still have 780 credit score
how do these people survive?

>my job is getting those people cell phones. They understand the system.
I used to be a "Property Manager" for some Section 8 shits
Never before had I ever wanted to murder so badly when I saw how they lived

Of course they vote too... all Democrat for da gibs.

And people wonder why I support Trump...

Why do so many people finance used cars in the US in the first place?
Living in Australia so maybe it's a different country thing but here if you can't buy a used car without financing it you just don't buy it.

Reagan is somehow responsible for free cell phone plans for nig nogs?

It surprises me not at all that your voting liberal.

trump can't abolish social welfare problems, don't be daft.

>is a complete socialist program created by ronald reagan
>socialist program
>created by Ronald Reagan
does not compute.

Why the hell do these people try to buy near-new or brand new vehicles when given their horrific credit scores and faced with these onerous loan conditions? Are there no places they could go to get, say, a ten-year-old econobox for just a couple grand?

Because there are tons of poor people who couldn't afford a used car any other way, and in MANY places in the US, you aren't able to function without a car

10-20 years ago, the used car market was such that you could ostensibly buy a decent used car for 500-1000 bucks

Cash for clunkers, rice tax, and rising gas prices completely transformed the cheap used car market in the US, gave rise to the buy here, pay here dealership model, and pushed people into financing cheap used shitboxes

Same here, full NEET on the disability and yet my credit is absolutely excellent.

>reagan established plan to give people free access to the telephone
>bush transferred that to cell phones
>IT'S OBAMA'S FAULT

nigga can you read?

3 months tops before it gets repo'd

see
cash 4 clunkers, rice tax, and gas crunch in the mid-2000's basically destroyed that market in the US

Look fampai,

If your credit score is less than 500 you:
A. probably have less than a grand to your name
B. have no judgement abilities
C. feel entitled to shit wayyy nicer than you can afford.

If this surprises you its possible your as silly as them.

the lifeline phone program was a social welfare program for lower income households to have a phone line in order for them to have the resources to get a job (imagine trying to contact an employer without being able to talk to them, this was the 80s mind you). So reagan got this program in. fast forward to the bush era, he updated the system to allow for cell phones as times and technology had changed.

basically, free phones from the gubmint to dindus and poor people. social welfare, socialism, by reagan.

You do buy used cars with finance in aus, but you only do it IMPROVE your credit, not because it's so shit that's your only option.

I financed a $19,000 car just before i turned 20, 3 year loan with an $8k downpayment and i paid the remaining off before i was 21.
Dat delicious fucking credit mane

Look at what Reagan did in CA, especially with firearms. He was a fag.

>trump can't abolish social welfare problems, don't be daft.
Actually POTUS could, the programs are mostly purview of the Executive branch, or at least a drastic re-structuring.

>Democrat President Lyndon Baines Johnson who stated, “I’ll have those niggers voting Democratic for the next 200 years”
When he started up "Welfare"

there's plenty of used cars on craigslist for 1-3k though

With a 488 credit score, it's almost certain she already has multiple repo's on her credit. People like this walk away from car loans the way some people walk away from credit card debt

people with a 488 credit score don't have 1-3k in cash on hand to buy something off craigslist

So I guess you're voting republican then since they do what Democrats represent.

Because the US allowed cash for clunkers to happen, which absolutely destroyed their used car market.

Here in aus you can get a fully working shitbox with 6 months rego on it for less than $500usd.

And you want to put someone in office who will perpetuate programs like that AND put more in place, why?

>10-20 years ago, the used car market was such that you could ostensibly buy a decent used car for 500-1000 bucks
You can still do that, it's just old Toyotas and Hondas that are overpriced because of their hyped reliability. What you look for are old Saturns and K Cars.
Like this: sacramento.craigslist.org/cto/5581741008.html

Ah, that explains it.

Sorry to hear about your country's fucked used car market.

t. Australian

True, and I would do that too but my financial position isn't stable enough to do that sort of thing at the moment.
Fucking oath that IS poor.

Isn't it true tho that credit score is only part of the bank's decision process? Say Ms. 488 also had 4k a month rolling in because she slipped on peepee and Costco is paying her restitution because she sued them and won? Or does it not matter because credit score is so shit?

They really don't, Reagan was just a shit president overall. Given the obscene monopolies phone companies have the Bush transfer to cell phones was probably cheaper for the gov. I dont know why people think cell phones are a luxury item nowadays, they literally sell disposable burners in every gas station

no, my point is that in all honesty, when the person in power actually gets elected, it doesn't matter what they campaigned on. that being said, I have and will continue to vote democrat. if the republicans had a positive and moderate candidate I would have voted for them assuming I liked the principles that were campaigned on.

look at the democrats, they claim to be progressive yet are still deathly afraid of doing anything to forward nuclear research and power and development. shit's retarded

>When he started up "Welfare"
kek

but wouldn't the senate have to approve an action like that?

Nigga you must be meme'n me.

The lifeline program was passed under Reagan sure, but it provided a discounted rate to poor people. Essentially a tax credit on poor people so they could afford to have a landline in there homes for public safety reasons.

Then the FCC (not bush) expanded the policy to include cell phones. Included in there rewritten policy was the inclusion of free cell phones, free minutes, and free texting services. This went into effect at the end of Bushes term, and thus Obama catches the blame for the FCC bullshit that was passed through a (spoiler) liberal congress.

Read the whole story before you spout bullshit and try and pin free cell phones on Reagan of all people.

Neck yourself m8

No, they take income, debt and debt history, and credit score into account

drop in the bucket. the student loan bubble AND the car loan bubble are both gonna pop in the next decade and wreck the economy again no matter who gets elected

again, these types of people don't have 1100, nor the knowledge to successfully navigate CL for a decent beater car

Income only matters to a point. I have had people making over 100 grand a year still get 14-18% APR's because they have shit credit. In her case, a 488 score would have maxed the interest rate, no matter how much money she brings in, because with a score that low, they assume you are going to blow it on hookers and blow anyway

it turns out Reagan was actually a shit president

Of course they are. But that's a whole other conversation about useless degrees and the notion that having a college degree is an essential.

you seem to think I have a problem with programs like that.

>student loan bubble
that is legit. all these students getting degrees they don't need/can't apply to a real job and a massive amount of debt that they have to default on will not end well.

youtube.com/watch?v=uwOq8zB-ido

>%18 interest rate

Holy shit.

>Because the US allowed cash for clunkers to happen, which absolutely destroyed their used car market.

CARS accounted for a bare fraction of the used car market. Its actual effect on prices is vastly overstated by people with an agenda.

And I thought I was sitting bad at a 560. Fugg.

that's more than I know. still reagan approved it, he "passed" it. as for bush you are correct.

even if it gets passed through congress it still needs to be approved by the president.

>but wouldn't the senate have to approve an action like that?
Senate? No. House of Reps? Yes. Since the HoR handles the Government money.
Learn how Government works

>668
I have no clue if this is good or not.

>you seem to think I have a problem with programs like that
Ok, so why do you think anything should be given out by the government? Why do you and others like you think the government owes you a certain quality of life?

And why do you think people that actually make something of themselves should pay for those that don't?

Is there another story or are we just going to /pol/ now?

Ok LPG, my credit is shit, I'm talking 600 something, I'm looking at a 08 s2000 CR with 56k km on the odo for 20k. I can put up to 10k down, how bad am I going to get fucked?

That's the thing though, you're not going to do what i did because you know you can't afford to.
Difference is, you're not a retarded american. The vast majority of them have no ability to use their money properly because they've been brought up in a credit culture and have no part of this in their schooling.

We know you never do anything outside of a home load without being able to pay off at least 51% of the debt immediately, they don't.

I really don't know how you haven't killed someone get.
Or at least laughed in their face.

I'm starting to think that there is no one who can actually afford the car their in. Meanwhile I'm at 4 cars and 0 payments. I never understood why people sell their cars when they're still running, they go forever now.
174k miles is the lowest and just hit 320k in the 3500 van. EXT still chugging along

>What is porkbarrel bills
>What is logrolling
>What is political capital/recourse

Its obvious you have no concept of how policitics work in the real world. Every bill includes 50+ little legeslations, no POTUS cathces them all, and it is unwise to veto every little thing you dont like because that will get you logrolled real quick.

Again neck yourself m8.

And if you refuse that then at least drop the late night politics because you know so little its shocking.

Not even that bad. 18% is the max rate that can be charged on a current model year or one model year old vehicle. Once a vehicle is 5 years old or more, the max rate shoots to 28%, and I have had many customers buy cars at that rate.

It wasn't a bare fraction. For better or worse Carmax is the largest used car retailer in the US. C4C destroyed the same number of cars they sold in 1.6 years. that's a year and half worth of sales inventory, 95% of which were cheap econoboxes, destroyed over the course of a few months. It was absolutely a catalyst that started a shift in the used car market that we will likely never move away from

Next story on the way

badly

>Ok LPG, my credit is shit, I'm talking 600 something
>looking at a 08 s2000 CR with 56k km on the odo for 20k
Finance a shitbox you can easily pay for in full, drive it around while your credit improves, and then buy a sports car.

You should look at older European cars too, as long as you're confident in your ability to maintain them. My previous daily driver was an E23 7 series that lasted me 3 years and I originally paid $800 for it, and my current daily was a one owner E34 that I paid $1800 for last July, with 130K miles in great condition. Good cheap aftermarket parts are very plentiful for the older engines like the M30 and M50, and there's a fucking enormous wealth of DIY write ups for them online.

Meanwhile my sister drives a shitbox Corolla with 260K and refuses to consider driving anything that isn't Japanese, even though every time I talk to her something new needs to be fixed on it. Maybe I'm an isolated case but I've had way better experiences with European cars. Not just German, either, I had a Volvo 240 and that thing was fucking bulletproof. I know most people probably think it's a meme car but dumbass teenage me drove it for a month with a blown head gasket and when it finally died, the head didn't even flinch; tore it apart, replaced the gasket, put it back together and drove it for a few more years.

What the fuck are you, Canada had the same recycling system going on and good cars with under 180k were trashed for no reason. Cash for clunkers was horrible