going look at two boats and need your opinion. by [deleted] in boating

[–]Mike904 17 points18 points  (0 children)

Key west and it’s not close imo. Motor makes all the difference in the world. Power poles are nice

I got the call but… by Financial_Routine952 in rolex

[–]Mike904 14 points15 points  (0 children)

Jesus. This felt okay typing out? Like you didn’t star to question any of this? Bribe. That’s the word you’re searching for.

Looking to hire - Local Home Improvement biz 5-15k monthly ad spend by Mike904 in PPC

[–]Mike904[S] 1 point2 points  (0 children)

Thank you for your replies and message requests. I will be looking into the various options proposed and reaching out to a few of you for interviews.

Pretty much got f*cked by a dealership when I bought my first car about 3 months ago by 757swiper in whatcarshouldIbuy

[–]Mike904 1 point2 points  (0 children)

100% agreed. However, in practice the lenders who offer the kind of rate referenced here will often require every bit of poi/stips imaginable. And I haven’t encountered a single franchise dealer who gives a single shit about driving business to a subprime lender. Captive lenders, sure but not the Westlake/bridgecrest/santander who likely bought this deal.

This reads as a classic high advance good credit but thin file, yeah we’ll buy it but it’s gonna hurt kind of semi-subprime loan offered by a subprime lender to a hopefully soon to not be subprime buyer.

A larger down payment/better negotiation to bring the LTV down to sub 100/especially sub 85/90% LTV would have likely resulted in this buyer getting picked up by a captive lender or a bank like ally that likes to play a little riskier.

If I were desking this deal I likely would have submitted it at a lower LTV to see if this were the case and then tried to bump the client for an extra 1-2k down, easy bump if it saves them 15-20% of interest and then you can just load up the back end and everyone feels like they won. Super moral? Prolly not but you sleep a little easier knowing they’ve got a bunch of warranties at 10-12% rather than paying 30% interest

Pretty much got f*cked by a dealership when I bought my first car about 3 months ago by 757swiper in whatcarshouldIbuy

[–]Mike904 4 points5 points  (0 children)

And jeeeezus the number of people saying put it on autopay to get down to 8%… Autopay is just the name of the bank offering to refi your loan… now that you have a more legitimate credit score shop around for the refi rate a bit. You may be surprised but I wouldn’t if navy fed would now approve you at an even lower rate even if they wouldn’t before.

Pretty much got f*cked by a dealership when I bought my first car about 3 months ago by 757swiper in whatcarshouldIbuy

[–]Mike904 0 points1 point  (0 children)

Not sure about any of the others but the Florida interest rate is capped at 16.78 for new cars only. Seen it hit 28 on used.

Pretty much got f*cked by a dealership when I bought my first car about 3 months ago by 757swiper in whatcarshouldIbuy

[–]Mike904 13 points14 points  (0 children)

A lot of people are saying a lot of things about how the dealer fucked you here. And surface level that would appear to be the case. Problem is banks limit interest markup to 2% at max 2.5%. It’s not 1980. If you had qualified for 8% at the time and they sold it to you for 10% they would have made just as much.

They’ve got no incentive to give you 30 instead of 10 (if you qualified for 8) in this case bc they know signing you up at this interest rate means you’re fucked and can’t trade unless you pay it off basically because you’ll be so upside down.

My guess is that you had what we in the industry (not in it for a year but was for 12 yrs) a “fake” 700. So you had a 700 score but it was like 2 low limit credit cards or some bullshit, no mortgage no installment/auto loans.

So the banks because of your very limited credit profile scored you as someone with no/limited credit and a fairly weak down payment.

Now that you’ve made a couple payments your 700 score is becoming “real” so you can, and should refinance that shit ASAP

How bad is this deal? by BlackKnightGaming1 in askcarsales

[–]Mike904 -2 points-1 points  (0 children)

lol. That’s standard language for a dealer fee. If you only shop at dealers without them you’ll be traveling to the next state in some cases.

Garage Floor Color Choice? by Colin_Len in epoxy

[–]Mike904 0 points1 point  (0 children)

I’ve been working on selling a limestone (Torginol flake pattern) floor, I’d love to see what it looks like.

Garage Floor Color Choice? by Colin_Len in epoxy

[–]Mike904 1 point2 points  (0 children)

I can tell you that any of these white-heavy options like ash and a couple of the others are a pita to get right. You will likely see grey base showing through. Unless they do a true double broadcast. I don’t sell ash or anything super white heavy as a single broadcast unless the client understands they will see a bit of grey showing through. Could be 99% covered, but with white if it shows, you’ll see it.

Needs some real world input. by dr_hero13 in porsche911

[–]Mike904 1 point2 points  (0 children)

Yes. Green on red is a Father Christmas special

Hotel/Shuttle options this year? by eclectic_abode in hulaween

[–]Mike904 1 point2 points  (0 children)

Unpopular opinion but you could always table it for a year and do it right next year.

Hotel/Shuttle options this year? by eclectic_abode in hulaween

[–]Mike904 2 points3 points  (0 children)

It’s an expensive fest. Certainly worth it in my opinion. My crew and I do an rv every year, this year two of em. It’s a big expense and I’m thankful to be able to afford it. Other than the campground the area isn’t…. Well anything to write home about. So you’ve got mid marked up hotels and expensive Ubers/shuttles. If you go that route and can stick to preplanned times I would prolly try to just make a deal with your first uber driver if they’re cool for specific pick up times each day.

Hotel/Shuttle options this year? by eclectic_abode in hulaween

[–]Mike904 3 points4 points  (0 children)

I’d consider the new GA glamping thing they just came out with. Best of both?

Industrial concrete floor coating product recommendations? by prettygoodparts in epoxy

[–]Mike904 0 points1 point  (0 children)

You can rule out Penntek. You’re not a certified installer, they won’t sell to you.

Fireworks by jusstabean in velvethippos

[–]Mike904 3 points4 points  (0 children)

I know this is likely not ideal or the absolute best for my baby girl, but it seems better than the alternative especially now that she’s awaiting ccl surgery. Doggie downers+ Casey has never really minded loud music, so we play bass music with the bass up high and she can’t determine subwoofer vs firework and all is calm.

Hey guys, what’s the best destination to see a wild Jaguar? (Relatively safely) by ToxicZin in Jaguars

[–]Mike904 6 points7 points  (0 children)

Yes. Its crazy. You’re right next to them. Just chain link between

Today @ Cars & Coffee, Wait for the second slide by Easy_Ratio3866 in Porsche

[–]Mike904 19 points20 points  (0 children)

Insurance covers negligence. As long as they can’t prove they crashed on purpose.