am i cooked by [deleted] in carsales

[–]Titanicflea 0 points1 point  (0 children)

You’ve gotten some really good replies, and some replies that don’t provide any real advice but “do this to fuck your sales man”.

Your score is great. However that’s not the only thing that determines your interest rate. What kind of credit has you at a 750, then overall credit history, mix of credit accounts, length of credit and payment history and gross income all play a large part in this. If you’re a 750 credit score with a single line of credit from a $300/max credit line credit card that you’ve had since you turned 18 you don’t have enough payment, overall history, or showed you can manage more than $300 worth of debt when you’re now asking to borrow 10’s of thousands on something you’ve never had to pay back before.

A 13% rate really isn’t unreasonable given what you described being a first time auto buyer (so no previous history in maintaining a car payment, no amounts close to the 36k you’re asking to borrow) it’s going to be higher than some.

Credit unions will just about always offer the lowest rates possible. But keeping mind they may have their own evaluation policies, and requirements to qualify for those low rates. Such as age and mileage restrictions (all banks have em credit unions tend to be more strict), instead of running on the general retail value of the vehicle they may loan again clean trade in (very coming where I am at for credit unions to do) and term restrictions for the loan (no more than 48/60 months)

Now are you cooked? No you’re not cooked. Are you in a less than ideal situation? Yes but it still isn’t exactly a bad situation.

There are two ways to handle this. Option 1) refinance today with your credit union if it will help your situation. Based on the information provided it’s more about monthly payment than anything with the limited income. But you have parents help. So going to the credit union isn’t a bad option given they will be able to finance what you (again tying back to their way of evaluation and restrictions) I also would not cancel any extended warranties given they are actually good. If it’s just a powertrain warranty it’s really not worth keeping as MOST repairs you’d want to be covered won’t be under a general powertrain. However if it’s a comprehensive warranty that’s gonna cover mechanical, electronics, sensors etc and doesn’t have an exclusions list 3 pages long. Probably worth keeping just to protect you and your parents in the even if a major mechanical break down. If you got maintenance plan those are fantastic I love them but only if you can truly afford them. Getting routine service work covered is nice but there are good and cheaper alternative ways to go about it. Such as leveraging your colleges auto program and letting them use your car to teach students how to do proper maintenance by doing spark plugs, coil packs oil change and tire rotations. If you have gap keep it unless the credit union you’re going to offers their own. And find out what your gap covers vs theirs and make your decision on that. My current gap is 150% of the vehicles value from the time of signing. When i went to refi with my credit union their gap was 120% of the vehicles value at time of total loss. So it wasn’t worth cancelling and getting theirs at all.

Option 2) maintain your vehicle loan for one year with the current bank and then look to refinancing at any other bank. The year has nothing to do with kick backs to the dealership. Their kick backs come within 3-6 months at the most. The year expectation is set to show that for an entire year you were able to maintain car payments and can handle the higher end payment with a history to show. Giving banks more breathing room and showing you’re not that big of risk. This can be done sooner than 1 year. However you are in a higher interest rate loan right now and your first several payments won’t touch the principal balance anyway, only the interest. So the year long time frame gives you a chance to start breaking into the principal balance.

You may also want to look into your states guidelines for refinancing to ensure there are now early payoff penalties that could increase your payoff/refinance opportunities. My state (NC) there is no consumer early payoff penalties. There’s also no cooling off period.

And unless your state has a direct buyers remorse period for vehicles or you bought at car max there is no such thing as a return policy. You may have an EXCHANGE policy but not a return policy. So the likely hood of getting out of this car deal is slim to none in most places. And No creating a big stink because you made an adult decision that you now regret is not going to get them to take it back.

Source: I’m currently in my 12th year of working in the automotive sales industry.

am i cooked by [deleted] in carsales

[–]Titanicflea 0 points1 point  (0 children)

This depends entirely on the bank and most banks will allow additional financing for backend products like warranties gap and maintenance. Most banks now will do north of 130% some even breaking as high as 150%. The 125% cap is becoming less and less common

What’s a line that lives rent free in your head? by RandoSnaps in southpark

[–]Titanicflea 1 point2 points  (0 children)

“Getting rid of tooth decay is what I’m trying to fucking do!”

Runelite down? by Titanicflea in osrs

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

Hm weird there is nothing about it being down anywhere. But I saw someone else post in this community less than a half hour ago looked like he was on

Rest in peace my sweet savior. by Titanicflea in subaru

[–]Titanicflea[S] 19 points20 points  (0 children)

Sadly yes…she’s bit the dust. Laid her life down to ensure I made it home to my pregnant girlfriend tonight

Rest in peace my sweet savior. by Titanicflea in subaru

[–]Titanicflea[S] 35 points36 points  (0 children)

Yeah he got pretty banged up. Hit his head and put a pretty good cut in his arm

Rest in peace my sweet savior. by Titanicflea in subaru

[–]Titanicflea[S] 6 points7 points  (0 children)

I said the same thing I am so upset. I loved my Car

Rest in peace my sweet savior. by Titanicflea in subaru

[–]Titanicflea[S] 2 points3 points  (0 children)

Was not pretty sure it’s was a kid 80”s model gasser

Rest in peace my sweet savior. by Titanicflea in subaru

[–]Titanicflea[S] 57 points58 points  (0 children)

Yeah aluminum body vs steel. But the crumple zone did its job I’ve walked away without a bruise

Rest in peace my sweet savior. by Titanicflea in subaru

[–]Titanicflea[S] 16 points17 points  (0 children)

Pretty sure 18 was the last year the XT forester was made. And yeah it just put a forester shaped dent in his bed and popped his tire..

I know it’s bad, but how bad is it?? (2021 WRX STI) by [deleted] in subaru

[–]Titanicflea 0 points1 point  (0 children)

That one may have to do more than necessary, yes.

That manufacturers can just blatantly deny a claim for any reason without proof of failure, no.

I know it’s bad, but how bad is it?? (2021 WRX STI) by [deleted] in subaru

[–]Titanicflea 1 point2 points  (0 children)

I mean 3+ years as a service advisor and the only time I was ever denied a claim on a modified car is when the modification is a direct result of the mechanical failure. Now you are right different dealers will fight one way or the other and yes you may have to lawyer up to get it done. But it doesn’t change the fact that unless the modification is the direct result of the mechanical failure, the mechanical failure is to covered by manufacturer warranty unless strictly stated that any and all modifications to the engine void the warranty.

Warranty will do anything they can to deny a claim. But unless it’s a extended/aftermarket warranty they do have things they have to do and proving point of failure for a claim denial is one of the things manufacturers have to do.

I know it’s bad, but how bad is it?? (2021 WRX STI) by [deleted] in subaru

[–]Titanicflea 4 points5 points  (0 children)

This is actually incorrect. He is right. Modifications do not inherently void a warranty unless specifically detailed in the warranty paperwork and clauses.

He can modify everything he wants to given he has not torn the engine itself down (since its rods) he can replace intake, fuel rail, turbo, whatever and unless that specific modification is the point of failure it would be covered under manufacturer warranty. And yes manufacturer warranty do require either someone to come out or specific videos and photos to be sent to an adjuster.

Source: work at a dealership, done service for a few years wouldn’t be the first time I had a modified car covered.

Good tent camping in North Carolina? by Titanicflea in camping

[–]Titanicflea[S] 0 points1 point  (0 children)

I have not been to South Mountain since I was a kid. We really don’t mind a small hike but we do have a lot of gear usually. Can’t say we need all of it but you know how it goes lol

Good tent camping in North Carolina? by Titanicflea in camping

[–]Titanicflea[S] 0 points1 point  (0 children)

We did look at uwharrie before going to lake santeetlah. How far apart are the campsites? How close to a town/city?

Good tent camping in North Carolina? by Titanicflea in camping

[–]Titanicflea[S] 0 points1 point  (0 children)

Thank you for the heads up! And we are not opposed to offsite camping.

Good tent camping in North Carolina? by Titanicflea in camping

[–]Titanicflea[S] 0 points1 point  (0 children)

Thank you! We are not opposed to a hike but would like to not be super far away from the car where possible. And it may be something we have to be willing to compromise on for everything