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HobbsofMI 16065 desperate attention whore postings DAW Level: "Playboy Centerfold" 12-06-04, 05:28 PM (EST) "Auto loan markups: Bad rap or a bad buy?" You know I'm pretty smart (though DW says I'm not: don't eat the right foods to be smart) and I went back and looked at the last car I bought and they added a 1/2% from the final quote and the truth in lending document. I do remember asking about it and it was explained that it was just the real % not the APR as I was quoted. The APR is right but it does not calculate out to the true %. I learned how to do those finance calc from a table so there is no way I would be able to calc it right then and there so next time I'll be better prepared. I feel so ripped off now. http://www.freep.com/money/autonews/markups6e_20041206.htm   Top

Subject     Author     Message Date     ID    RE: Auto loan markups: Bad rap or a... udg 12-07-04 1    RE: Auto loan markups: Bad rap or a... HobbsofMI 12-07-04 2

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udg 3381 desperate attention whore postings DAW Level: "Car Show Celebrity" 12-07-04, 04:21 AM (EST) 1. "RE: Auto loan markups: Bad rap or a bad buy?" We almost got taken by one of those when we bought our latest car (the one that still runs grrr!) a little over a year ago. We were quoted a loan rate, and I went online and calculated our monthly payments, which didn't add up to what we were told our monthly rate would be. Turns out, they were adding a monthly fee that was "insurance" so that if we died our families wouldn't have to pay off the car. I was not happy! Fortunately, we realized BEFORE we signed the paperwork, because the inefficient system here involves applying for the loan at the car dealer, but actually having to physically go to the bank to finalize things. DH told them in no uncertain terms that we were NOT interested in such "insurance." The car sales guy claimed that it was a box you have to check to opt out of, and that it was just an oversight. I think he was slimey. Not to be confused with who is actually kinda cute & very trustworthy. Slice n' Dice's Sigpic Chop Shop 2004   Top

HobbsofMI 16065 desperate attention whore postings DAW Level: "Playboy Centerfold" 12-07-04, 09:34 AM (EST) 2. "RE: Auto loan markups: Bad rap or a bad buy?" My loan was threw Ford Motor Credit and my credit score was in the low 700's/high 600's. I just noticed it when this story came out and I recalculated it. DW’s car loan is correct though but that loan is from Capital One.   Top

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