new truck purchase

farmride · June 12, 2006

Purchased my truck last week and now with the situation of having to make payments, unlike my previous trucks since 2004, I'll have to keep full auto ins. coverage. At the end of the month, I'll have a lousy $20.00 left over and that is for gas.

I was surprised the dealer even wanted to get me approved. First they said i was denied. then they worked on it with the bankers since they were coming down for some fishing and had the favor done for us. I know the dealer knew my situation and my feeling is they are hoping I lose my truck then they or the bank will have gained the $5,000 down pmt, plus my 12 trade in and they will get their truck back if I can't make pmts. Is there a way the dealer could keep the truck instead of the bank on a repo?

I'm screwed being on a fixed income. Insurance will be 2000 per yr in this screwed up state of ak, and I only have 1 moving violation. I'm bringing in only 951.00 per mo with social security. THE PROBLEM IS i TOTALLY...FORGOT ABOUT HAVING TO KEEP FULL COVERAGE WHICH IS SO LAME OF ME. I CAN'T BELIEVE I could forget such a thing. I'd have to cut out dish network, my cell phone, and dsl and i'm not doing that. I don't think anyone would do that. i'm going backwards instead of forwards. i think they should have not approved me. I thought they were to see what % of money I was to have left over from my expenses? I guess they don't count the things I mentioned below.

I'm not even talking food. I'm talking rent, the truck, insurance, dish network with no hbo or movie channels. dsl, dog food, my meds...insurance where I have to keep a 500.00 max deductable. Not 1k. as Wells fargo will only accept 500.00 deductible on collision.

I'm screwed. Should I hire an attorney for un fair business practices against this dealer? I really just totally forgot about keeping full coverage. God what a stupid I am. Since '04 i've never had to as I paid cash for my 2 vehicles and don't have them any more either. I haven't been doing anything. I stay home and bury my head below the pillow and just sleep from thinking about what I'll be facing come August. This is depressing and it's going to get ugly Do I have any recourse?

95Sierra2500 · June 12, 2006

Not to sound rude, but in all fairness, it's a mistake you made. However, you do have things you can do.

1. Shop around on your insurance (even if you have to go to geico.com or another company). being forced into a $500 deductable is something you don't have to put up with. I'll bet you can knock your premiums down quite a bit if you tried.

2. Start cutting out things you don't need. You could probably get by for a while without dish network, so that'd be the first thing I'd cut if I had money issues, then I'd consider returning to dialup if necessary (just going off your examples here). You'd be surprised what you're willing to give up in a bind. Don't say that you're not going to get rid of certain things...at some time you may have to.

Other than that, good luck with your new truck. God I wish I could afford one. But until I can, I'll stick with my used ones.

PaulieK · June 12, 2006

Purchased my truck last week and now with the situation of having to make payments, unlike my previous trucks since 2004, I'll have to keep full auto ins. coverage. At the end of the month, I'll have a lousy $20.00 left over and that is for gas.

I was surprised the dealer even wanted to get me approved. First they said i was denied. then they worked on it with the bankers since they were coming down for some fishing and had the favor done for us. I know the dealer knew my situation and my feeling is they are hoping I lose my truck then they or the bank will have gained the $5,000 down pmt, plus my 12 trade in and they will get their truck back if I can't make pmts. Is there a way the dealer could keep the truck instead of the bank on a repo?

I'm screwed being on a fixed income. Insurance will be 2000 per yr in this screwed up state of ak, and I only have 1 moving violation. I'm bringing in only 951.00 per mo with social security. THE PROBLEM IS i TOTALLY...FORGOT ABOUT HAVING TO KEEP FULL COVERAGE WHICH IS SO LAME OF ME. I CAN'T BELIEVE I could forget such a thing. I'd have to cut out dish network, my cell phone, and dsl and i'm not doing that. I don't think anyone would do that. i'm going backwards instead of forwards. i think they should have not approved me. I thought they were to see what % of money I was to have left over from my expenses? I guess they don't count the things I mentioned below.

I'm not even talking food. I'm talking rent, the truck, insurance, dish network with no hbo or movie channels. dsl, dog food, my meds...insurance where I have to keep a 500.00 max deductable. Not 1k. as Wells fargo will only accept 500.00 deductible on collision.

I'm screwed. Should I hire an attorney for un fair business practices against this dealer? I really just totally forgot about keeping full coverage. God what a stupid I am. Since '04 i've never had to as I paid cash for my 2 vehicles and don't have them any more either. I haven't been doing anything. I stay home and bury my head below the pillow and just sleep from thinking about what I'll be facing come August. This is depressing and it's going to get ugly Do I have any recourse?

<{POST_SNAPBACK}>

Your kidding me right? You actually want to know if you should hire an attorney to sue this dealer for selling you a truck? Your going to have to fess up and accept your responsibility for this and your actions, not play the poor me bull. Did the dealer come to your house and drag you out of bed by your hair and tell you "Buy this truck or I will kick your a$$?" I don't think so. The Dealers job is to sell vehicles, you went to the dealership and you wanted a vehicle and he sold you one. You are going to have to take all the responsibility on this one. You knew what your finances were and knew what you could afford and not afford. You signed the paperwork of your own free will. Now your on the hook, YOUR FAULT. Full coverage is required to protect the banks investment (your truck) and you can't fault them on that. I would dump the DSL and go back to dial up, Do you qualify for any assistance with your medications? Find out from the local goverment. You bought to much vehicle for your income, try to sell it or trade it in on something smaller and more gas efficient.

Good Luck

Elwood 2000 · June 12, 2006

Maybe you could look for a JOB??

YOU signed on the dotted line when YOU bought the truck. The dealer has NO fault here. If you don't have enough money, you need more. A job is your only answer, even if it is part time.

bamataco1 · June 12, 2006

How long ago did you buy the truck? This is very important because many states have a period of time where you can back out of a deal. A cooling off period if you will. Did you take posession of the truck yet? If not don't. Just tell them you changed your mind.

Machine · June 12, 2006

Why did you dump your 2004 vehicles? What is the reason for buying a new ride in only 2 years?

I feel for you, but you should have known exactly what all the costs would be before signing. Unfortunately, your lack of planning is not the dealerships concern. As long as you pay their bill then all is good for their business. Sounds like a part-time job may be needed to earn a little more $. Anyone on a limited income should proceed with caution before buying new vehicles...

You may have to sell this truck and get something less costly. You'll take an immediate loss but at least you'll be able to eat.

Sorry if I sound cold - hope you sort it out.

farmride · June 12, 2006

thanks for the comments guys, no problem. I was overdrawn in my checking acct by 900.00 and needed to do something. I had a beautiful 2004 F250 lariat super crew diesel. FX4 pkg with 28,000 miles. it was paid for. I needed money to fix my checking acct. and with the money left over pick up a used boat. Fishing is my hobby and where i live you need a boat to fish. After 5 leaking injectors on the ford and rotors that needed replacing at only 28,000 miles. I said forget it, i'm done with ford. new rotors at 28,000 miles is a disgrace!

I got out of it and into a 1500 sierra with some cash and fixed my checking acct. problems. Then I traded out of that to get a bit more cash for my boat pkg and was into a very nice but 1 ton F350 that got 10 mpg. I could not live with it, plus the thought of driving a truck with 82,000 miles and no warranty......weighed on me. I was working with 5,500 for a boat but what if i spent 5 of that which I would have and the truck broke down. where will I get the money to fix it if it's major?

i decided against the boat and when you see the gas gauge dip to 3/4 tank after only driving 56 miles, my jaw dropped open. so I got back into a new truck. I know this sounds comical but really it's sad. I'm pretty much a normal good guy but this is the worst mistake i ever made in life. i totally just FORGOT about having to keep full coverage.

Sometimes I wish I would never wake up when i go to bed. financial nitemares isn't good on anybody. If I worked part time, I would lose some of my assistance and have to pay for my heart and diabetes meds and it comes to $450.00 I can go back on the patient assistance programs for the meds, so that is an option.

what's more important a boat or dependable transportation. wow guys, go grab another beer. It's all my fault, I know. I contacted the dealer and he'll work on a remedy for me. I think I would just like to get back into my old truck because the front end was entirely gone through and had new tires...and the owner did have a good truck because I had an oasis done on it.

6Burgh · June 12, 2006

different_seasons · June 12, 2006

I had a beautiful 2004 F250 lariat super crew diesel. FX4 pkg with 28,000 miles. it was paid for.

so you just had liability on this one? didn't you worry about what would happen if you got in an accident?

diabetes meds and it comes to $450.00

ya, diabetes sucks. How old are you?

what's more important a boat or dependable transportation?

I suggest looking for a sugar mama.

blue2kzr2 · June 12, 2006

1. Shop around on your insurance (even if you have to go to geico.com or another company). being forced into a $500 deductable is something you don't have to put up with. I'll bet you can knock your premiums down quite a bit if you tried.

<{POST_SNAPBACK}>

Uh, the leinholder is the one that forces these restrictions on you. They do it to protect THEIR vehicle and money. They force the deductible on you, and the minimum coverages.

donaldbc · June 12, 2006

joining the thread

gave20 · June 12, 2006

I was overdrawn in my checking acct by 900.00 and needed to do something. I needed money to fix my checking acct. and with the money left over pick up a used boat. Fishing is my main hobby besides duck hunting and you simply do need a boat to fish where I live.

The bottom line is this. When a person is on ssi, they cannot have a resource such as a boat, motor home atv ext... that is valued over $2,000. If they find out, they will not only cut you off but will make you pay back pay the months you had that resource.

<{POST_SNAPBACK}>

I'm glad to see my tax dollars are hard at work.

No wonder we have so many illegals in this country; they come for the free ride. This is the perfect reason why legislators need term limits; we keep voting them in and they come up with moronic programs to support people that are unfit to work but fit enough to fish and shop for new vehicles.

SoCalChris · June 13, 2006

No offense, but you should really learn some basic budgeting.

You''ve gone through 3 real nice trucks in a few years, bought a boat, have satellite, dsl, and probably other luxuries, and you're talking about suing the dealer because they sold you a truck???

I'd like all of those things, but I know that I can't afford it. I really hope this is a joke. If it's not a joke, I really hope you lose your SSI. We shouldn't be paying for this crap.

Stories like this are one of the main reasons that people are against SSI & welfare.

different_seasons · June 13, 2006

I really hope this is a joke. If it's not a joke, I really hope you lose your SSI. We shouldn't be paying for this crap.

<{POST_SNAPBACK}>

I thought it might be a joke too. The logic behind this whole situation doesn't make sence. Pretty irrational thinking.

SoCalChris · June 13, 2006

It doesn't get much more irrational than

"I'm overdrawn by $900, and I only get $951 a month. I think I'll sell my truck that is paid off, and buy a brand new one that requires monthly payments that are probably close to half my monthly income. Oh, and a boat. I'd like a boat too."

This guy is either pulling our leg, or a first class numbskull.