I've become a victim of Spot Delivery Scam.

[itguy08]

Originally Posted By: Tdbo

Did you strike a nerve with a Honda owner?
You are laughable. You need to let at least 60PSI out of your ego.


I must have since you continue the dialogue. And you continue to get worked up over suggestions to the OP and suggestions that there are better cars out there than Hondas.

My ego is fine thanks. I personally could care less what the OP, you, or anyone else buys. Some will make good choices, some will make bad choices. If they are happy with their vehicle that's all that matters.

The point still stands- if the OP has such a poor credit score which means he may be needing to watch his finances, a Honda is not a great choice. He'd be better served with a lower priced vehicle with a longer warranty to avoid any repair bills in the future. Hondas have expensive repairs just like everyone else. They also tend to be expensive to purchase as "they are a Honda and sell themselves". Not good choices for someone watching their finances.

Or as others have suggested a quality used car with a long warranty.

It may all be speculation - we don't know how or why the OP chose the Accord. He's not telling. Edit: I think it's because of some rust on his 2014 Mazda.

If the OP feels a victim of a scam his best bet is to get out from the people that put him in that position. Return the car, get your vehicle and money back and go somewhere else!

 

[hattaresguy]

Nah he needs a new car. I see probably hundreds of credit reports like this and financial train wrecks always have a car loan, always without fail. Got to look nice!


Hyundai and Nissan seem to be the companies of choice. Nissan especially seems to be willing to lend to just about anyone. You could stiff everyone else but if you make the car payment they will float you credit. (I saw one credit report where they did just that! You name it credit cards, cable companies, cell phone, utilities, stiffed everyone. But paid a couple Hyundai loans so they gave them a Genesis Coupe!)

I assume he has some sort of decent income, that's the only reason they will talk to him.

 

[Alfred_B]

Originally Posted By: SkyActivG
My Story....





On 12/29/2015 I went to a Honda dealership to purchase a 2016 Accord. The sales manager pulled my credit which was 574, but due to my good standing with Honda Financial, they were supposedly able to get me approved with 2k down at 10%. I drove off the lot that evening in a new car. I just needed to come back with the trade title signed by the co owner which was my grandfather and an additional 1k. I met with a different business manager and she talked about a credit freeze on Experian. I told her yes I have one, but the other two CBs aren't frozen. She then mentioned that she was working with another bank. I'm not sure what she meant by another bank. This whole deal sounds troubling to say the least. The dealership had the 30th and possibly the 31st of December to get the financing situated. I'm not sure what to think at this point. Should I call Honda Financial tomorrow to see what exactly is going on instead of going back to the dealership? I didn't mention the additional 1k because the business manager was a different one. Please Please everyone watch out for Spot Delivery Scams. This is the first time that I've encountered such horrid unprofessional dealership practices. I've already notified the Better Business Bureau and next will be the Attorney General and FTC. I'm not to be toyed with in regard to scams. I can have this dealership take the car back and take a serious loss.


Wow. They took your money and let you take possession of the car without finalizing the financing?

That's a very poor business practice.

 

[javacontour]

Many went unscathed, or in fact did even better.

If you didn't need your investments in the short term, any losses were only on paper. If you had any cash lying around, you could start putting MORE in the market as most stocks were on sale like Black Friday at Best Buy.

Finally, those who had good credit got some smoking hot deals.

We bought a new car in December 2009 and got the sales tax credit on our federal taxes for that year.

If you were not on the edge when this thing hit, you didn't need to suffer a loss and may in fact have done well.

But then, we didn't buy a home at the limit of our credit. We bought about 1/3rd of what we were approved to buy.

The new car was a 2010 Nissan Altima, not a lease deal on a luxury car like many choose because they can afford the payment.

Just because you see the heart tugging stories on the news doesn't mean everyone is hurting. They show you want gets the eyeballs hooked to the story. So we hear about the extremes, not the typical case.

Originally Posted By: SkyActivG
Originally Posted By: stevejones
Holy smokes...someone who presumably doesn't pay their debts complaining about how they're treated by a creditor. Lots of irony/karma is all I read.

BTW, I love & expect Spot Delivery - it's how I roll.



You sound extremely pretentious. The reason for my low credit score is due to the financial crisis that occurred in 2007/2008. I don't think anyone went unscathed from the financial crisis.

 

[Tdbo]

Originally Posted By: itguy08
Originally Posted By: Tdbo

Did you strike a nerve with a Honda owner?
You are laughable. You need to let at least 60PSI out of your ego.


I must have since you continue the dialogue. And you continue to get worked up over suggestions to the OP and suggestions that there are better cars out there than Hondas.

My ego is fine thanks. I personally could care less what the OP, you, or anyone else buys. Some will make good choices, some will make bad choices. If they are happy with their vehicle that's all that matters.

The point still stands- if the OP has such a poor credit score which means he may be needing to watch his finances, a Honda is not a great choice. He'd be better served with a lower priced vehicle with a longer warranty to avoid any repair bills in the future. Hondas have expensive repairs just like everyone else. They also tend to be expensive to purchase as "they are a Honda and sell themselves". Not good choices for someone watching their finances.

Or as others have suggested a quality used car with a long warranty.

It may all be speculation - we don't know how or why the OP chose the Accord. He's not telling. Edit: I think it's because of some rust on his 2014 Mazda.

If the OP feels a victim of a scam his best bet is to get out from the people that put him in that position. Return the car, get your vehicle and money back and go somewhere else!


He can't afford either a Honda or a Kia.
He shouldn't be buying ANY new car with a 574 FICO.
He should keep what he has or sell the car outright, purchase an inexpensive used car and focus on getting his debt under control and repairing his credit.
Paying 15+% on a car note is only going to get him in deeper

 

[Wolf359]

Originally Posted By: Alfred_B
Wow. They took your money and let you take possession of the car without finalizing the financing?

That's a very poor business practice.


It's a very common business practice. Lots of time people get called up to come back into the dealership to sign new papers because they had to go with a different bank. Or they get told to bring back the car, they couldn't get any financing. Those are the issues when you have a 574 fico.

I just bring a bank check or once a personal check to the dealer and I never have these problems.

 

[Doc8404]

Still wondering who the victim is here.

 

[Wolf359]

He's a victim of circumstance as he blames the financial crisis for his 574 fico.

https://www.youtube.com/watch?v=X5s_H9k44OU

 

[Eddie]

I think it's referred to as Poor money management skills. )

 

[itguy08]

Originally Posted By: Tdbo

He can't afford either a Honda or a Kia.
He shouldn't be buying ANY new car with a 574 FICO.
He should keep what he has or sell the car outright, purchase an inexpensive used car and focus on getting his debt under control and repairing his credit.
Paying 15+% on a car note is only going to get him in deeper


+1 on all points!

 

[hattaresguy]

Originally Posted By: Tdbo
Originally Posted By: itguy08
Originally Posted By: Tdbo

Did you strike a nerve with a Honda owner?
You are laughable. You need to let at least 60PSI out of your ego.


I must have since you continue the dialogue. And you continue to get worked up over suggestions to the OP and suggestions that there are better cars out there than Hondas.

My ego is fine thanks. I personally could care less what the OP, you, or anyone else buys. Some will make good choices, some will make bad choices. If they are happy with their vehicle that's all that matters.

The point still stands- if the OP has such a poor credit score which means he may be needing to watch his finances, a Honda is not a great choice. He'd be better served with a lower priced vehicle with a longer warranty to avoid any repair bills in the future. Hondas have expensive repairs just like everyone else. They also tend to be expensive to purchase as "they are a Honda and sell themselves". Not good choices for someone watching their finances.

Or as others have suggested a quality used car with a long warranty.

It may all be speculation - we don't know how or why the OP chose the Accord. He's not telling. Edit: I think it's because of some rust on his 2014 Mazda.

If the OP feels a victim of a scam his best bet is to get out from the people that put him in that position. Return the car, get your vehicle and money back and go somewhere else!


He can't afford either a Honda or a Kia.
He shouldn't be buying ANY new car with a 574 FICO.
He should keep what he has or sell the car outright, purchase an inexpensive used car and focus on getting his debt under control and repairing his credit.
Paying 15+% on a car note is only going to get him in deeper


Yep.

The kicker is, even if he went bankrupt, got divorced, and basically had a financial melt down in 2008/9...its now 2016. If he was good since than his credit score would be in the 600 if not the 700 range.


All that would have required was getting 2-3 CC's, using and paying them over the past 7 years, a few utilities, cell phone, etc, maybe a small car loan, build it back up. Fast forward to 2016 you would probably be in the 700's.

 

[Wolf359]

Originally Posted By: hattaresguy
Yep.

The kicker is, even if he went bankrupt, got divorced, and basically had a financial melt down in 2008/9...its now 2016. If he was good since than his credit score would be in the 600 if not the 700 range.

All that would have required was getting 2-3 CC's, using and paying them over the past 7 years, a few utilities, cell phone, etc, maybe a small car loan, build it back up. Fast forward to 2016 you would probably be in the 700's.


Basically it boils down to this for the OP:

Pay your bills, deadbeat.

 

[Ben Boyle]

What I find interesting about it is that I am 35 years old. Pay my credit card in full every month since I was 18, make about $40kish a year. However, until recently, I always paid cash for my car and I happened to marry a woman who already had a house so I had never had occasion to have a loan before. I have a credit score of 780 and when I bought a new Buick Verano last month the best I could do was 4.6% for 6 years (I'll pay it off sooner than that) and the stuff from the loan places was all like "No installment loan information". I agree the OP kind of did this to themselves but it seems that you cannot ever really win. yes, I've never had a loan before but this was much more to do with never having a reason to than some dire credit history.

 

[zzyzzx]

Originally Posted By: madRiver
From the outside an 2016 Accord is an expensive choice for person who needs to take advantage of family kindness with a poor record of paying bills....I hope grandpa doesn't get burned either .


+1 for the above comment!

 

[exranger06]

LOL, I don't think this thread went the way the OP intended.

 

[mrsilv04]

Originally Posted By: exranger06
LOL, I don't think this thread went the way the OP intended.


Pretty much not...

 

[Alfred_B]

Come for an advice, get ridiculed by self-righteous [censored]. That's how it works sometimes.

 

[mrsilv04]

Originally Posted By: Alfred_B
Come for an advice, get ridiculed by self-righteous [censored]. That's how it works sometimes.


Church of The Painful Truth.

That's how it works sometimes.

 

[Alfred_B]

When you learn the circumstances behind things, it is usually what you never thought of.

Don't judge lest be judged yourself.

 

[AZjeff]

Originally Posted By: Alfred_B
Come for an advice, get ridiculed by self-righteous [censored]. That's how it works sometimes.


Not so much advise as sympathy, one man against evil corporate practices. The 2014 Mazda trade-in enlightenment does not garner much sympathy for his predicament.