My 2016 Fiesta ST

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Did you go through a bank or the dealer? If you went through the dealer, it's bullshit. I would shop around to credit unions and just try to refinance through them if you really want the car. This time of sale is pretty common. http://www.edmunds.com/car-loan/dont-fall-prey-to-spot-delivery-scams-and-yo-yo-financing.html

And how does the bank know you changed from w-2 to 1099? something fishy is going on here.

p.s. I fell "victim" to this dealership scam back in 2002. luckily i hated that fucking car. I gave it back and ended up getting a better car through my credit union at a lower interest rate.
 
After a month of having the car the bank came back with wanting more proof of income blah blah blah and I got them all my tax information from 2015 and bank statements, they wanted stuff with 2016 on it and they found out I'm not W2 to anymore so when I got my car back expecting my new tag for January 15th they sent me to the tag office and got me another temporary tag and now telling me I need a cosigner or I can walk away from the car, I love the car but I'm not going to fight them for a loan and yes it is in house financing and yes I'm sure I can find a credit union, I don't know this could be a sign I need to walk away from it and stack money up and I got to drive a new car for like 3 months free just gas and insurance
 
Sounds real fishy. I'd just take your w2 or 1099 with two tax returns, maybe a bank statement or two, and go to a credit union and get a better rate.

9.99% is gigantic for a rate. Shit in 2006 I financed my tc with way higher rates(nation wide at the time) at 19 years old with a 1000/mo income for 8.9%. Ford Financial should be offering in the sub range of 2% or less.... I think the bmw kylie financed is 0.9% when she had a lower income.
 
I would head to a credit union and start shopping interest rates. Since your car has been in a pretty substantial accident, I would consider giving them the car back. Taking all the money you put down and go buy a brand new one from a different dealer. I feel like you could get the same year/make/model for a little cheaper now that it's a new year.
 
If it falls through im going to just take my money and go buy like a 3500-4k daily
 
I'm positive I can join a credit union get a lower interest rate yes, I'm just getting frustrated at the entire situation we will see how it plays out I could be overreacting
 
well, if you like the car and you can afford, get another one. I'm 99% positive you can find another one with the exact year/make/model for less than what you bought that one for. I think if they offer to give you back 100% of your money, I would just go to a credit union or another dealership, put that money down, and get a fresh car.

i think you actually come out on top of this deal.
 
I never bothered to get depreciated value when the veloster was hit twice. I'm going to keep the car forever though.
 
See my whole thing to get the Fiesta was to build my credit for 2 years and pay on it and then trade in for a Ford Focus RS, if I have the option now I can walk away from it by a nice car and save money and just put a huge down payment on RS in two years
 
Did you miss a payment? Seems weird they would just start checking it.

Does giving the car back give any kind of negative credit rating?

A heads up, with a 1099 make sure you are paying your quarterly's and you are saving extra money for taxes. Talk to your tax professional about what expenses you can write off and save your receipts. Also make sure its even legal for your company to be paying you as an independent, the irs has conditions on their website that classify if you are an employee or a sub.
 
Jeef said:
Did you miss a payment? Seems weird they would just start checking it.

Does giving the car back give any kind of negative credit rating?

A heads up, with a 1099 make sure you are paying your quarterly's and you are saving extra money for taxes. Talk to your tax professional about what expenses you can write off and save your receipts. Also make sure its even legal for your company to be paying you as an independent, the irs has conditions on their website that classify if you are an employee or a sub.
Click to expand...
There hasnt been a payment yet the loans not been purchased
 
20160131_171618.jpg
 
Making myself feel old but I remember getting a payment coupon book for my first car loan when I picked up the truck.


dilbeckskate said:
There hasnt been a payment yet the loans not been purchased
Click to expand...
 
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