Chase Auto is out of my life . . . FOREVER!
After far too long, we've been working through our major debt load and have, as of yesterday morning, paid off out van with Chase Auto.
The guy I talked to on the phone, to get our final payout total, was very nice. I will not fault him for at least having a job. But, as a whole, I hate Chase Auto! I am glad they are out of our lives forever!
Okay, let me be clear on this: I signed for the debt, nobody put a gun to my head, and even in January 2011 when the repo man came to take it away because we were three months behind--we got it back two weeks later, and this blog post on vehicle reposession spells out our experiences with it--in a way we were thankful because it grounded us in the fact that we didn't want to play around with debt any longer.
Adios, Chase Auto!
Next time, I'll saving up and paying cash. No more car loans for this family!
Showing posts with label vehicles. Show all posts
Showing posts with label vehicles. Show all posts
Thursday, April 25, 2013
Thursday, May 31, 2012
"My car got repo'd! How can I get a car now?"
As I laid out the plans for dealing with a repossession company in my last post, what if you don't want the vehicle back but you still need a car? What can you do?
Simply, save up cash for a new one. Now that you don't have any car payments, the last thing you want to do is get another loan. What I suggest is finding a car for around a grand or two. Save up for it and pay cash.
The other thing you need to save up for is when the reposession company sells your other vehicle and the bank wants to get paid the difference. You can possibly settle with them, but you'll also need cash to do this as well.
Simply, save up cash for a new one. Now that you don't have any car payments, the last thing you want to do is get another loan. What I suggest is finding a car for around a grand or two. Save up for it and pay cash.
The other thing you need to save up for is when the reposession company sells your other vehicle and the bank wants to get paid the difference. You can possibly settle with them, but you'll also need cash to do this as well.
Tuesday, May 29, 2012
3 Ways to Deal with Vehicle Repossession
"My car got repo'd! What do I do now?"
Having a visit from the repo man is a dreaded and unsettling event. But, truthfully, not expected. You know you're behind on your vehicle payments, possibly 3-4 months, and that is what banks do when you cannot pay: they take them away.
There are essentially three ways to deal with the Repo Man:
First, refuse to let them take the vehicle. If they do not have the vehicle up on their hoist or somehow have physical control of it, it is always possible to stop them. The majority of these ways are illegal and I do not recommend it. Some will insist on giving you the keys to the vehicle. If you do not, they'll probably take the vehicle anyway and charge you an extra fee for it. Here's the bottom line: if you refuse to let them take it, they can have a judge order you to do so, which will up the trouble you are already in. This method I do not personally recommend at all. Keep in mind, a repo man (or woman) is just doing their job. They are not evil, and if you talk to them like a normal human being, they can be quite reasonable. They'll still take your vehicle, but you can work out a way to at least take some possessions out of the vehicle first.
Second, let them take it and do not try get it back. If you are unable to get caught up on payments and simply let the vehicle go, please be aware that when the repossession company sells your vehicle for a fraction of what is owed on it, the bank will come after you for the difference and try to collect. Many times you can settle this like you would any other bad debt, but you need the money up front in order to settle a debt. Otherwise, they can sue you and eventually garnish your wages.
Third, let them take it and work like hell to get it back. This method is not easy, but if you have the ability to pay the payments once the vehicle is back, go for it. But be warned: this is not easy and will require multiple phone calls and plenty of extra cash, as you'll soon find out.
From the moment the Repo Man takes it, you have roughly 14 days to get it back--if you so desire. How this generally works is this: the Repo Man takes it to wherever they are located and waits these 14 days (the time may vary from state to state, so be sure to check this out). If you're able to get the money together to get it back, you'll either have to wire it in to the bank or use Western Union. After repeated phone calls to the bank, in which time they'll hopefully confirm they have your money, they'll give you a number to the Reposession Company. This is NOT the Repo Man's place, but a "Middle Man." Typically, these people can act nicer (in my opinion) then the banks themselves, and can act more professional (i.e. not treat you like you're a piece of scum or a doggie turd). Once they receive confirmation (usually via fax) from the bank, they'll give you the number of the Repo Man.
When picking up your vehicle from the Repo Man, be sure to inquire as to how much money you'll need to get it back--this is on top of the money you've already given the bank! And, be sure to get cash, and exact change if possible.
**Please keep in mind, the advice given above is only my opinion, and your situation may be different so it would be advisable to seek legal counsel**
Having a visit from the repo man is a dreaded and unsettling event. But, truthfully, not expected. You know you're behind on your vehicle payments, possibly 3-4 months, and that is what banks do when you cannot pay: they take them away.
There are essentially three ways to deal with the Repo Man:
First, refuse to let them take the vehicle. If they do not have the vehicle up on their hoist or somehow have physical control of it, it is always possible to stop them. The majority of these ways are illegal and I do not recommend it. Some will insist on giving you the keys to the vehicle. If you do not, they'll probably take the vehicle anyway and charge you an extra fee for it. Here's the bottom line: if you refuse to let them take it, they can have a judge order you to do so, which will up the trouble you are already in. This method I do not personally recommend at all. Keep in mind, a repo man (or woman) is just doing their job. They are not evil, and if you talk to them like a normal human being, they can be quite reasonable. They'll still take your vehicle, but you can work out a way to at least take some possessions out of the vehicle first.
Second, let them take it and do not try get it back. If you are unable to get caught up on payments and simply let the vehicle go, please be aware that when the repossession company sells your vehicle for a fraction of what is owed on it, the bank will come after you for the difference and try to collect. Many times you can settle this like you would any other bad debt, but you need the money up front in order to settle a debt. Otherwise, they can sue you and eventually garnish your wages.
Third, let them take it and work like hell to get it back. This method is not easy, but if you have the ability to pay the payments once the vehicle is back, go for it. But be warned: this is not easy and will require multiple phone calls and plenty of extra cash, as you'll soon find out.
From the moment the Repo Man takes it, you have roughly 14 days to get it back--if you so desire. How this generally works is this: the Repo Man takes it to wherever they are located and waits these 14 days (the time may vary from state to state, so be sure to check this out). If you're able to get the money together to get it back, you'll either have to wire it in to the bank or use Western Union. After repeated phone calls to the bank, in which time they'll hopefully confirm they have your money, they'll give you a number to the Reposession Company. This is NOT the Repo Man's place, but a "Middle Man." Typically, these people can act nicer (in my opinion) then the banks themselves, and can act more professional (i.e. not treat you like you're a piece of scum or a doggie turd). Once they receive confirmation (usually via fax) from the bank, they'll give you the number of the Repo Man.
When picking up your vehicle from the Repo Man, be sure to inquire as to how much money you'll need to get it back--this is on top of the money you've already given the bank! And, be sure to get cash, and exact change if possible.
**Please keep in mind, the advice given above is only my opinion, and your situation may be different so it would be advisable to seek legal counsel**
Thursday, April 12, 2012
Want a deal? Try this out.
Want a deal?
Ask for one.
You'd be surprised at how many workers don't know the sales going on with their company. Ordering a pizza at a pizza joint? Ask for their specials. Even call on the three or four (or more) in your area to see which one has the best deal.
You could even use this technique with buying cars. Ask for a deal. Don't give the car salesman a price you'd accept, because that is exactly the price they'll get it to. Even if you tell him/her that you can afford a certain monthly dollars amount, they'll twist and turn a loan to fit your budget--for the most part, that is.
Ask for one.
You'd be surprised at how many workers don't know the sales going on with their company. Ordering a pizza at a pizza joint? Ask for their specials. Even call on the three or four (or more) in your area to see which one has the best deal.
You could even use this technique with buying cars. Ask for a deal. Don't give the car salesman a price you'd accept, because that is exactly the price they'll get it to. Even if you tell him/her that you can afford a certain monthly dollars amount, they'll twist and turn a loan to fit your budget--for the most part, that is.
Monday, March 19, 2012
DIY not always the best for oil changes
I've found that bringing my vehicles to an auto shop actually saves me on my oil changes.
In the town I live in, I take it to a small auto shop. It's not a franchise, with a lot of overhead, so not only are the owner's costs low, she passes the savings on to her customers.
Not only is the oil changed, the tires and all of the other fluid levels are checked and filled.
And all for less than $30.
When I go to Target or Wal-mart or K-mart and look at the cost of oil and an oil filter, the cost is fairly close to $30.
For me, DIY on oil changes are not the best.
Besides, the auto shop can then dispose of the oil themselves instead of me driving elsewhere to dispose of it. Less hassle that way.
In the town I live in, I take it to a small auto shop. It's not a franchise, with a lot of overhead, so not only are the owner's costs low, she passes the savings on to her customers.
Not only is the oil changed, the tires and all of the other fluid levels are checked and filled.
And all for less than $30.
When I go to Target or Wal-mart or K-mart and look at the cost of oil and an oil filter, the cost is fairly close to $30.
For me, DIY on oil changes are not the best.
Besides, the auto shop can then dispose of the oil themselves instead of me driving elsewhere to dispose of it. Less hassle that way.
Friday, March 9, 2012
Increase your MPG by doing this
Here's how to increase you MPG: by keeping the RPMs down.
An easy way to keep the RPMs down is to drive the speed limit. Especially if you live in a 55 MPH zone.
To experiment with this, I drove my Honda Civic 60 MPH back and worth to work, and I had to refill the tank once it reached 300 miles.
I then drove 55 MPH on the next tank. You know the results?
I was able to stretch the miles to 400 miles, increasing the per tank use by 33%!
An easy way to keep the RPMs down is to drive the speed limit. Especially if you live in a 55 MPH zone.
To experiment with this, I drove my Honda Civic 60 MPH back and worth to work, and I had to refill the tank once it reached 300 miles.
I then drove 55 MPH on the next tank. You know the results?
I was able to stretch the miles to 400 miles, increasing the per tank use by 33%!
Thursday, February 9, 2012
Need to buy a car? Try this unconventional method.
Need to buy a car?
Use cash!
Don't believe me that it can be done? Here's a video from financial guru Dave Ramsey who'll describe how this can be done.
Use cash!
Don't believe me that it can be done? Here's a video from financial guru Dave Ramsey who'll describe how this can be done.
Tuesday, February 7, 2012
Do you like your co-workers?
You might be asking yourself that very question when looking at ways of slashing your budget when compared with the rising cost of fuel.
Try carpooling.
Depending on where your co-workers live, and if you can work it out in your schedule, carpooling may be a viable way of cutting the costs of fuel and car maintenance.
I, personally, don't carpool, for reasons I'll spell out in the next blog.
But if I had to, I certainly would.
Try carpooling.
Depending on where your co-workers live, and if you can work it out in your schedule, carpooling may be a viable way of cutting the costs of fuel and car maintenance.
I, personally, don't carpool, for reasons I'll spell out in the next blog.
But if I had to, I certainly would.
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