Car Repossession Thread

>>17333498
No because I pay off my car note :^)

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>>17333507
YOU lucky SOB

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>>17333498
I have.

>be noob at bill paying
>set up automatic payments
>make sure it works
>it works the first time
>"I never have anything to worry about ever again"
>stop paying attention to it completely
>automatic payments didn't go through
>don't notice because assume all unknown numbers are telemarketers
>catch it late but pay it after accidentally answering phone one day
>"That was a close one."
>unbeknownst to me, the repo order has already been sent
>car not outside of apartment next morning
>call bank
>they say there was nothing they could do since repo was handled by third party
>they cover the repo fees and give me a $200 credit, since the repo was still technically erroneous

Then I changed my direct deposit to the bank with the car loan and the automatic payments never failed again.

Happened almost two years ago, my credit score dropped into the low-mid 500s. Now I'm back in the low 700s again.

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>>17333498

>buying a car to project wealth you dont have
>not buying well within your means
>giving a fuck what other people think about what car you drive

Its fun driving down the road and looking at how miserable the people behind the wheel are, going to and fro from their wage slave jobs so they can barely make their cuck shed and meme-car payments.

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>>17333498
>don't make your car payment for months
>make 0 attempt to work things out with the lender
>victim

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Used to do it for a living. Fun shit. Much better when you can just snag the rig while someone is grocery shopping and gtfo.

Rolling up looking like a jeepers creepers ass motherfucker helps too.

>>17333658
>your car payment

>your

No.

>>17333674
yes
your

>>17333658
This. As long as you send them just a little bit every month and call and try to work things out they won't fuck you over.

>>17333674
The bill is yours to pay.

>buying a car on payments
>buying a car on payments you can't afford
>buying a car on payments you can't afford and not trying to find a solution before shit hits the fan

No, but like a couple others have said, you should always try to work with the bank k before it ever gets that far.

Actively avoiding the bank and paying nothing is just asking for it. Common sense folks. IIRC, Wells Fargo at least, "let's" you miss a year's worth of payments before they do anything. You're a fool if you don't notice your autopay not working for a whole year, for instance.

>victim
>shameful act
top lol

> debt
> car loans
> TITLE FUCKING LOANS
literally hobo tier

>>17333914
>literally nigger tier
fixed

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

>>17333498
No, I pay cash when I buy a new car. Falling for the Jew finance meme.

>>17333587
>credit score dropped into the low-mid 500s. Now I'm back in the low 700s again.

On what scale? Ours only go up to 700 or 710 (yes very useful. Depending on the credit agency.

You can either afford the car and buy it or you can't afford it and don't buy it.
If you finance it, you are just a retard that got scammed.
If you finance it and fail to keep up the payments, you are just a retard that followed retards.

>>17333743
>>17333914
>>17334075
>>17334422

/o/ loves proving it's filled with a bunch of retarded children who don't know how credit works. Enjoy your poverty, low credit scores and inflated bills because you don't understand how money works you fucking autists.

i pay my loans off early.

if you HAVE to finance you can't afford it. if you WANT to finance because you have better shit to do with that lump of cash than throw it at a depreciating asset right away and can get an ROI that exceeds the interest on the loan (which should be easy, since you've been doing this credit thing for a while, right?), then please do.

>>17334444
BoE base rate 0.25% Lowest rate available on car finance 3.4% highest ROI from an ISA 2.01% (you can get better but they only pay interest on the first £1000 and it has to be the account your wages are paid into) you do the maths. Car finance is for mongoloids who don't understand things like interest rates and income tax (probably because they never make enough to pay it).

No I actually make my fucking payments so some guy doesnt have to leave the comfort of his bed in the middle of the night to figure how how to unfuck a car from the back of a driveway that has various kitchen sinks as well as dead cars blocking the path so I cant get back to it and catch them on their bullshit...pay it forward you dickheads.

>>17334510
Not everyone is from Europe you third world fuck

>>17334510
Thats why you put a significant amount down...or you can pay extra and pay it off faster....Really learn how credit works...this works for you later in life.

>>17334611
The only thing you should have credit on is a mortgage anything else is retard level.

>>17334618
Yeah good look getting a mortgage with no real credit...

The repo is just the beginning of your financial Waterloo.

>>17334660
Next comes the auction where your car is sold for pennies on the dollar.

>>17334668
Then comes the judgement for the full balance + fees.

>>17333498

i don't get people who take out loans for cars

why put yourself through that shit ?

it's already hard enough having to do that for real estate. borrowing money from jews at stupid fucking interest rates and having that shit hanging over your head every month

but for a car ? come on

if you can't pay cash, you can't afford that car.

buy something that's within your means

god mode: buy cars for cheap, sell for more than you paid, get a better car each time and make money off your car instead of losing it. that requires a bit of street smarts and mechanical knowledge, but if i can do it... everyone can. i've never lost money on a car. i sometimes barely broke even, but i drove those cars for free for tens of thousands of miles so it's still a win

>>17334670
Finally comes the monthly garnishment. Don't worry, the judge won't take more than what you need to cover rent and food.

>>17334618

Good luck even getting a decent job with no credit history. If your job deals with any even semi sensitive info or deals with handling money you'll be subject to a credit check and without any credit history you won't be hired.

Although you sound like a NEET so you probably didn't know that. Good luck getting a mortgage without credit history.

>>17333919
Couldn't even afford the 4WD version.

>>17334692
unless he doesn't think you deserve your current house, then better sell it

>>17334510
If you invest more and spend less, a modest ROI % can yield large actual gains that eclipse interest costs.

And then you have 0% APR deals with three years to pay it off early, especially with BASED SUZUKI (GIXSER BRAH)

Sadly, basic investments will never cover the cost of full coverage insurance unless you're old as fuck, so it's ultimately cheaper to just buy the damn thing unless you are a legitimate investment wiz and can actually make a profit despite shit like insurance.

>>17334685
>>17334685
its not difficult to make sure you pay a 100-500$ bill by the end of each and every month

what the fuck is your life like that you cant even manage to write/mail in a check once a month


i bet your credit score is sub 400

>>17333658
This right here. The last thing any lender wants to do is repo. I went through a pretty bad financial situation a few years back and my lender let me pay $150 for 4 months as opposed to the normal monthly payments of $320. Credit didn't take a hit, no repo, and I paid off the loan two years ago.

>>17334798
>mailing a check
are you 60?

>>17334777
She clearly could not afford the 2wd version either anon

>>17334095
roughly 810 assuming he's using FICO

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>>17333919

>Dat forever poor mentality.

>>17334510

In the US, you can get 0% financing occasionally. It's literally retarded to pay cash over that kind of deal unless you are getting a huge upfront discount that somehow negates qualification for special financing.

>Pic related: a car you can currently get in the US with 0% financing

>>17335001
You can only get 0 percent financing with like a 780 or better FICO and through factory incentives. The lowest you can get on a used car or without said incentives is 1.99 with stellar credit and a term around 60-63 months or less.

>>17334422
>>17334488
I had only 1.2k but needed a car for new job which paid well. Finance seemed best deal.

>>17333611
This. If you need to borrow money, you don't fucking need it. Being in debt is like being a slave.

>>17335020
hmm i got 72 months no interest with a 690 score...the dealer must have thought i was really handsome or something

>>17335053
Post your Dec page or I don't habeeb it.

>all these people saying debt is bad

Holy shit go take an Econ course or something. Debt is good, too much is obviously bad and spending more than you can afford on a car is also dumb. But the people in the thread naysaying car loans probably have like sub 500 credit and will never own a house

>>17335061
Most of them are calicucks, they think it's perfectly okay to pay $2600 a month for rent.

>>17335061

credit score isn't a thing where i live

you're a good goyim saying that debt is good.

i'll keep my freeedom and also avoid blowing my money on interest, thanks

>>17335099
Well then these threads don't apply to you, but in burger that's how things work

Just hope they don't report incorrectly and then refuse to fix it :(

>>17334753
Wow, they really got you that cucked?
Ever heard of confidentiality agreements? Why have I had a job history with only companies that require them, where phones are forbidden (apart from on-site dect phones without cameras) looking after £800k worth of alpha/beta phase hardware (manufacturing, testing, etc.), working with external customers and suppliers on their sensitive projects while the only financing I have ever had is £12k in student loans which I avoided paying off for as long as possible and still paying it off now at a minimum rate? No director or senior manager has ever even hinted that this would be of any concern.

Following some banker scare tactics is going to do more harm in the long run than using your brain, living within your means and not assuming that credit history is the only thing that matters to your existence or potential happiness.
This financing meme has gone too far. Go back to /mlp/ to live out your fucked up alternative realities.

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>>17335020
>tfw 0.54 for 60 months on a 13 cruze LTZ
>tfw 2.09 for 72 on a 14 c7 3lz
>tfw 2.04 for 72 on a 16 colorado diesel

>>17334444
Don't have to care about my goyim score if I never take out credits, you dumb shitbucket. Enjoy your debt.

>>17335836
I bet those rates are not from major banks.
Most likely Union or union with auto pay rate discount.
Anyways If I have to pay more then 0% on car loan, the car better be super special that I MUST have.

>>17335879
the c7 was financed through citi bank. the other two were NFCU

>>17335870
unless you have resources to buy few hundred thousand dollar house with cash, how can you not use credit ?
I come from poor familly but I saw the value of credit before I turned 18. Now i am in early 30s with few houses, I can walk into any dealership and buy whatever I want with just my signature. How is this bad ?

>>17334753
Thinks you need to do retard leve finance deals to get a good credit score. Pay your bills on time for services and cell phones and that's all it takes, I've never financed anything or had a credit card and my score is over 750. You have been duped like the idiot sheep you are into giving your money to someone else for nothing.

>>17335942
I've been told utilities like phone service only get reported to credit agencies when you fall delinquent. Merely paying on time doesn't do shit to your score good or bad.

>>17335942
not all 700 score is same. If you have good credit with no high loan, they won't give you higher money. At least that is what I saw in dealership.
I had customer who had 780 score but his highest loan was 3,000. now he is asking for 50k loan, we had hard time finding bank who was willing to take that jump.

>>17336001
I don't know who told you that but it's not true. Probably someone trying to get you to finance something on commission.

>>17336011
I am not so sure about this one.
I have friends who pay every bill on time without any loans and they have no credit. I also have friends who just have good credit with out any bill.

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>>17336002
Poorfags are an abomination

>>17333587
>automatic payments
Lmao it's like you want to be jewed

>>17335001
Yeah, you dip, you can get 0% financing on a car that will lose 40% of its value in its few first years. Then you will get an offer to switch to a newer model and take that fucking fall again!

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>>17334753
>have literally no credit
>six figures starting

>>17333611
>giving a fuck what other people think about what car you drive
Most people I personally know finance a vehicle as it's something they want to drive.

Granted, I do know a quite a few that have financed vehicles as status symbols.

>>17333674
But it is your car. Eventually.

>>17335870
You'll enjoy lower insurance rates with a higher credit score, anon.

>>17335942
>thinking utilities will generate a credit score
It'll only hurt your score with a derogatory remark if you fail to make a payment.

>>17336313
>Lmao it's like you want to be jewed
Typically you receive a penalty for not using automatic payments. I guess they consider automatic payments a discount, but it's really a penalty if you don't use them.

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>>17335049
agreed

t. wage slave in debt

>>17334753
Essentially this. basically had to submit all my credit statements since the dawn of time to an employer.
Honestly I used to be that guy,
>Ill just pay in cash..they wont say no to cash"
HA sure that may be true but when time comes to buy a house...no fucking banker on earth is going to care if you can put the (insert down payment here) and mortgage the rest..you will literally get laughed out of the fucking bank.

>>17335049
You do realize there is such a thing called "good debt" right. I know it sounds fucking ridiculous but bare with me. Your an 25 year old something or another and you buy your first base but new car. You put some money down that you saved. You need this new car to be reliable for your new career which just rolled in...so you NEED reliable wheels with a warranty. You pay off the car for the (x amount of years) and ta da you own the car after that. You have also bumped yourself up a bit in the aspect that you now are a reliable borrower

>>17335099
>credit score isn't a thing where i live
I'm sorry you live in a third world country.

>>17338005
I got you beat, I'm the president

>>17338005
Zimbabwe dollars don't count. Seriously you are full of shit though.

>>17333498
If you default on your payments and the repo guys can never catch you, what happens? I'm assuming at some point they get the police involved.

>>17338157
You get charged with grand larceny if you owe an amount that is in that bracket. They will eventually find you though..and you will serve a sentence according to that...most likely probation though...also it will pretty much nullify your credit score and if the dealer lost money on the car since you have been having it and not paying they will take it from your/ your families assets. This includes homes/bank accounts etc etc. Not to count the fee the repo guys will tag onto you because the dealer wont pay them so have fun wasting more money

>>17338175
I hope this is true. Some retard at my work is bragging that he can not make payments on his car and he can get away with it. I'd love to see that little shit get his smug face smashed in.

>>17334444

You're a fucking idiot.

>>17338207
How is he a idiot when he is stating a reality?

>>17338187
This sounds like an good opportunity to throw someone under the bus

>>17338207
Anon, it's a good thing to take out loans you know you can pay back. Of course, it's not the smartest move for everything and situations vary, but having a credit record is better than having no record whatsoever, and loans can help establish your (presumably) good record. You'll thank yourself when you try to buy a home and you can finance low.

Not the guy you responded to, by the way.

>>17338207
If you're totally okay with being in an apartment for the rest of your life, then you don't need credit.

>>17338237
I hate when people say you can get approved by a bank without a credit score easily...This is so far from the truth...its possible but rare

>>17338150
Tech companies don't seem to care about your credit.

>>17338266
thats because they are run by and hire fucking moron millennial who are willing to pay 10 dollars for sandwiches and uber everywhere. IF they have the skills thats all they care about. They want slaves who have to work to live to a certain " aesthetic" . I know one guy who works in tech and hes a bright dude but a total fucking bitch in regards to life and being insecure financially

>>17338266
Do tech companies even give loans?

>>17338273
Company pays for food and I have a cheap car and bike.

>>17338353
lmao exactlyyyyyy

>>17338273
What more does an employer need than skilled and motivated workers? Where does a credit rating fit into this and why?

>>17338370
Exactly what?
I get to save a bunch of money and have plenty to spend on fun things once in awhile.

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>>17336340

Depreciation on fiesta st's 3 years old is around 25-30%, so like $1800ish a year. Since the financing cost is zero with 0%, my true cost per month is only the depreciation of about $150/month with a warrenty included for a brand new fun car. On top of that, 0% financing actually builds in a 2% compounding cost decrease per year thanks to inflation.It is extremely easy for a used shitbox with 200,000 miles to cost an average of $150/month with two medium repair bills a year.

Nobody ever bothers to do the basic math to figure this out, which is why most people spend thousands extra every year driving retarded flashy but boring to drive cars.

>>17334444
If you can't pay your car fully with cash, you technically can't afford the car

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>>17338261
That's why you build up your credit score with things like credit cards.

>>17335925
By not buying a cuck shed in the first place you mongoloid.
>le own home meme
Yeah sure, chaining yourself down and being forced to live in the same area for decades is a GREAT idea. It's totally worth the hundreds of thousands of dollars you own some other dude, the invasion of your privacy, the butt rape if you fail to make the payments and the work that goes into keeping it up to snuff.

>>17335925
>i am in early 30s with few houses
That are owned by the bank.

>>17339461
let me know when you get few "bank ownd" house.

>>17339446
good thing is house price is going up in california, I got lucky when market was down. No need to stay in same place for decades anymore. already made all my money back

>>17339469
Why would I want them? They aren't mine, they aren't an achievement they are a statement that you have failed to own your own property. I'm quite happy with a single house owned outright.

>>17333498
Fortunately, no. But you have to be a bit of nigger to get to the point where they send the repo man after you. Don't be a nigger, if you can't make the payments work something out with your lender, sell it or put up a "take up payments" ad on craigslist.