Do I have to leave my vehicle if not paid for?

[Proserpina]

Yep it works very well, I just didn't want to give you the satisfaction of having the last word.
I am funny that way.
Enjoy your evening.

No, you're childish that way.

 

[Antigone*]

I was actually wondering if Aunt Bunny was going to stop by.




OP, please. It's entirely YOUR responsibility to read things before you sign.

Nobody is on anybody else's "side" here - except the side of the law.

It's ridiculous for you to accuse someone of being on the dealer's "side" simply because you don't like what you've been told.

Honestly, it comes across as the equivalent of 5 year old taking a temper tantrum.

That old Battle Axe cracks me up.

 

[QueenofEngland]

An ex of mine owned a buy-here-pay-here lot. Do you have any idea at all how many people defaulted on loans? Those GPS and ignition-interupters were necessary. Unfortunately though plenty of people still figured out how to remove them and took off. A random bit - the group least likely to default on their loans were Mexican men. So much for "those dirty Mexicans" being deadbeats. I heard the same from other local BHPH -lot owners. Mexican men the least likely to default. But still, about a third of sales ended in defaults and most of those had the devices removed. Usually the ones recovered were destroyed.

Look, if you don't like the terms, you shouldn't have signed. So you have bad credit with the economy. I do too. But guess what. This means you have to live within your means. Buy a beater off CraigsList until you have enough saved up to buy something better. Believe me, it's so nice not having any debt payments, especially given the current economy. And you yourself admitted, though not in so many words, to being a bad risk.

The dealership isn't wrong. You are wrong. Don't like the terms? Return the car. Until the car is paid off, they have a financial interest in it and ownership.

 

[Antigone*]

An ex of mine owned a buy-here-pay-here lot. Do you have any idea at all how many people defaulted on loans? Those GPS and ignition-interupters were necessary. Unfortunately though plenty of people still figured out how to remove them and took off. A random bit - the group least likely to default on their loans were Mexican men. So much for "those dirty Mexicans" being deadbeats. I heard the same from other local BHPH -lot owners. Mexican men the least likely to default. But still, about a third of sales ended in defaults and most of those had the devices removed. Usually the ones recovered were destroyed.

Look, if you don't like the terms, you shouldn't have signed. So you have bad credit with the economy. I do too. But guess what. This means you have to live within your means. Buy a beater off CraigsList until you have enough saved up to buy something better. Believe me, it's so nice not having any debt payments, especially given the current economy. And you yourself admitted, though not in so many words, to being a bad risk.

The dealership isn't wrong. You are wrong. Don't like the terms? Return the car. Until the car is paid off, they have a financial interest in it and ownership.

So are all Hispanics Mexican, ellie

 

[Country Living]

I bought the vehicle because I don't have the credit to purchase a new one, like most of us in this economy I don't have the resources available to me. I bought it out of desperation period.

A lot of people are in your position.

I have maxed out my resources because I have 64 grand in student loans and no one will extend me the credit to purchase a new vehicle.

You didn't need a new vehicle - you needed basic transportation.

Does that make me a dead beat? I pay my bills on time every month and that includes the 500 bucks a month for my student loans.

While paying your bills on time is commendable, it is an obligation of your loan agreements.

Yes I agree that I should have read the entire contract.

You should always read all parts of a contract before you sign it.

I think this falls under the heading of predatory lending...

Don't blame this on the lender. You had all the information you needed to make an informed choice.

..... I will make it known that this type of an "agreement" is a sham and it hurts the consumer way more than it hurts the dealer.

You could have walked away at any point up to signing the contract.

Oh and by the way, they sold me a vehicle that broke down on me two weeks after I bought it, blown engine. Not to mention they sold it to me with out a working odometer that they had full knowledge of and did not disclose it to me when I purchased it. So tell me who is the dishonest one here?

Used cars are sold "as is". What did your mechanic say when you had him/her look at the car before you bought it?

 

[shutterscfs]

A lot of people are in your position.


You didn't need a new vehicle - you needed basic transportation.




While paying your bills on time is commendable, it is an obligation of your loan agreements.




You should always read all parts of a contract before you sign it.





Don't blame this on the lender. You had all the information you needed to make an informed choice.



You could have walked away at any point up to signing the contract.

I was never informed of that stipulation during the signing of the agreement, my fault for not reading it myself.


Used cars are sold "as is". What did your mechanic say when you had him/her look at the car before you bought it?

Actually that is what I purchased, "basic transportation" I certainly don't consider an 01 Ranger with well over 200,000 miles to be anything other than that. I had no visions of grandeur when I purchased it.

I was not allowed to take it to my mechanic which is something that struck me as to being quite odd at the time, but their mechanic swore up and down that it was in great condition. I will give them this, they did replace the engine, but it took them three weeks to do it and I had to pay for a rental for the entire time and I was not compensated for it. The only reason they did come pick it up is because I threatened to sue them using the Federal Lemon law Statute.

I do agree that by signing an agreement to pay is just what it is an agreement. I am not making any excuses for that. My point was simply that I felt I was jilted into purchasing a vehicle with known issues and and then expected to live in the area for almost two years before I could move if need be. To most reasonable people that would be wrong, but I am not dealing with people who are reasonable.

Agreed. I should have read every single letter on that contract, no excuses there. I was in a hurry and I needed to get back to work from my lunch break, so I let the person read most of the agreement to me.

No not exactly. I was never informed of the broken odometer. When I called them out on it they just simply shrugged it off as an oversight. I do believe in some states that constitutes fraud.

Look guys this has gotten way out of hand. I did ask for advice here and I am more than willing to listen to anyone, but I refuse to listen to wise cracks and smart *ssed remarks.
This is a place where folks come in desperation looking for a way to make things right when they feel they have been taken.

In my case I agree I should have been much more diligent in reading all of the small print before I signed anything. I am not being childish or a whiner. I guess I am just living in the past where people were taken for their word, people were trusted, and deals where made honestly without any hidden or agendas. There was a time when this did happen. Most of you here can agree on that point.

What I will do is go back to my home state and take my belongings with me, store them, and return here and give them back their vehicle, fly back home and forget about this whole sorted mess.
There is nothing in the contract that stops me from taking an extended vacation. It only states that I must inform them of a change of address if I move and that the vehicle must remain in my possession at the address that it was at when I signed the contract. As long as I continue to pay the rent at that address I would not be in default on the contract.
There are ways to circumvent anything. I will get my belongings up there using the vehicle I purchased and I will return it when I am finished doing so. As long as I do not become an official resident of that state,either by renting property or paying taxes there I will continue to be a resident of Kentucky, thus not defaulting on our agreement.
I will continue to retain my residence here, while I seek a new one there and continue to make my payments on time every week. I have no idea why I didn't think of this before. I will continue to uphold my end of the agreement, but I will also continue to do as I please with my vehicle as long as it stays within the boundaries of the contract I signed.

 

[Country Living]

I do not disagree with you that this is a bad business practice from a consumer point of view. Desperate people with bad credit are pretty much thrown to the wolves.

I'm assuming you've already determined there is no "parent" company to whom you can appeal.

Good luck.

 

[shutterscfs]

I do not disagree with you that this is a bad business practice from a consumer point of view. Desperate people with bad credit are pretty much thrown to the wolves.

I'm assuming you've already determined there is no "parent" company to whom you can appeal.

Good luck.

Thanks. I do not want sound like I am "splitting hairs" here, but my credit is not the issue per say, the fact of the matter is that I didn't have enough credit to purchase a new vehicle. My credit rating is pretty good by most standards (520), but I have over extended my dept to income ratio and that is why I do not qualify for a auto loan. Student loans are my biggest dept and I do pay them every month unlike allot of dead beat post grads that expect the government to eat the loans thus causing issues for those of us who really intend on paying ours back.

There is no "parent" company that I am aware of, so no chance to appeal to anyone with an inkling of understanding or compassion. I just got myself into a no win situation by rushing through what I thought would be a simple process. I do plan on returning the vehicle once I have finished my trip back home if I can not come up with the money up front to purchase the contract out right.

The world is becoming a very scary place for the consumer do to the misdeeds of others who take advantage of the system and that is where this sort of practice arises from. It upsets me to see that these type of operations are allowed to take advantage of those that are less fortunate and have no other place to turn other than to these predatory operations. You pay a bungle up front for a product that is in less that perfect working order, pay a very high interest rate (27%) and then are expected to live by ridiculous hidden previsions in the contract (not allowing the purchaser to move with the vehicle).

I am not angry with the dealer for doing what he had to do to protect his interests, but I am upset with them for not considering that there are still some very honest, hard working people out there that are just looking for a break, but alas I feel those days are long over with.

 

[st-kitts]

Based on your replies you have a lot of debt, which means you have a lot of creditors, where it could follow you have lots of room for negotiations with other lenders. Maybe car dealer won't negotiate, but there is more than one way to approach any problem.

If your student loans are through Uncle Sam, why don't you call him up and ask for a student loan modification with smaller monthly payment and a longer pay off period? You could use the extra money to pay down the lovely set of wheels. Ditto to any other creditors....

 

[Country Living]

You could also ask for a hardship deferral on your student loans to buy you some time to save some money. Not all places given them; but, it doesn't hurt to ask.

 

[shutterscfs]

No, you're childish that way.

LOL....SOD off you grouchy ol' jerk. If you we not such a rude person I may have taken your advice for face value, but you insist on acting like you were my daddy instead of someone that should have been giving me good advice. I did not seek out your sarcastic attitude here. You are the one that decided to post a response. If you have nothing helpful to contribute then keep your bloody sarcasm to yourself.
You really need to learn to chill and stop looking down your nose at people, karma has a funny way of dealing with the likes of you.

 

[shutterscfs]

Based on your replies you have a lot of debt, which means you have a lot of creditors, where it could follow you have lots of room for negotiations with other lenders. Maybe car dealer won't negotiate, but there is more than one way to approach any problem.

If your student loans are through Uncle Sam, why don't you call him up and ask for a student loan modification with smaller monthly payment and a longer pay off period? You could use the extra money to pay down the lovely set of wheels. Ditto to any other creditors....

Yep and I have already have done that. It will go into effect soon. I consolidated all of my loans, both subsidized and unsubsidized. Even with that the payments and interest are out of site, but I did get a quality education, so no complaints there.

 

[shutterscfs]

You could also ask for a hardship deferral on your student loans to buy you some time to save some money. Not all places given them; but, it doesn't hurt to ask.

Nope I applied and they denied me because my income is too high. I have tried pretty much everything to plug the bleeding, but I wanted the education and I promised to pay them back for the help, so I am going to be responsible and hold up my end of the bargain.