Generally, any story that contains the phrase, “the salesperson talked me into…” is not going to end well. That was the case for personal finance blogger Michael Timmermann, who started out ready to buy a car in cash, ended up with a lease on a beautiful Audi A4. This wasn’t so bad until he moved to Washington, D.C., where he didn’t really need a car, but had to pay $300 per month to park his Audi. [More]
We’ve written before about people who co-signed a loved one’s loan and were left owing the debt after the borrower passed away before the loan was repaid. But even if you weren’t the co-signer, you might still end up being on the hook for thousands. [More]
Mendel works for a not-for-profit organization that leases a few Toyotas, including the van that he drives. Somehow, there was a mixup where Toyota somehow failed to notice that the organization had made its monthly payments (if a bit late) and just went ahead and repossessed the van. So, just pay Toyota, pay the impound lot, and get the car back, right? If only it were that simple. [More]
I lease a Chrysler minivan, and am wondering if their bankruptcy will give them the ability to “devalue” my van at the end of the lease (July 2010). I already see 2009 versions of the same van going for nearly $10K less than what we leased it for, and I’m worried.
Nearing the end of his lease on a Chevy Equinox, Tom wanted to turn the vehicle in before he used up his allotted miles, and drop it from his insurance as soon as he could. The dealership he leased it from, their lot clogged with cars and trucks that nobody particularly wants to buy, wasn’t really keen to take it back. So Tom got creative.