I have seen several customers this week who had paid on a car loan for 2 or 3 years without a problem, maybe one late payment in that time. Now they are in my store looking for a car and they made a payment on this car in February. I ask what happened to the car they had been paying on.
The answer is something happened that caused a financial strain, an accident or illness. The company wanted $1000 today, the customer had $800 and would have the other $200 in 3 days. They kept the car and the customer would have to pay it off if he wanted to keep it. Black and white says the company is right, gray says the customer has paid at least 24 payments of $400 per month, if he gets past this rough patch, he will most likely make the next 24 or 30 payments on time. Which is better?
1 comment:
This is why it's important to look for auto loan choices that better suits your finances.
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