How To Skip A Vehicle Payment Save$$$$$

robnu0069

robnu0069

Active LVC Member
Joined
May 12, 2005
Messages
160
Reaction score
0
Location
USA
So my wife gets put on bedrest from being pregnant and now I took the responsibilty of the bills. I called my finance company and asked if I could be late for a week or two and the guy who i spoke with told me to mention the economy. I was like what ????? he said yea tell me about the economy. With a wierd look and ready to hang up I said "IT SUCKS!!" he then said so the economy is bad and you are requesting to skip a payment,,,OH OH i said yea ok i get it . He said Robert I would be glad to accomadate you, he then set me up to skip March payment and back on track with April no hidden fees just put me a payment added at the end. Just thought id share this with you guys and gals.

FYI did the same with my wifes 975$ 08 Tahoe payment.
 
My credit union and credit card companies have offered me that every Christmas for many years. The point is moot for me as I pay off my cc balance every month and we paid off the '06 last month.
 
They would have done this even if the economy isn't this bad. They do not want the car back. They want you to keep making payments and this is a common way to keep people up on payments. Or you can ask them to just make an interest payment and push the principle to the back... that makes them happy too.
 
Me too. But they want to still let the interest accrue. and pay a 35 dollar paperwork fee.

It would be a great idea if times were tough though!
 
yeah the downside is that it adds extra interest.... the upside is you get an extra month to save up.
 
robnu0069 said:
So my wife gets put on bedrest from being pregnant and now I took the responsibilty of the bills. I called my finance company and asked if I could be late for a week or two and the guy who i spoke with told me to mention the economy. I was like what ????? he said yea tell me about the economy. With a wierd look and ready to hang up I said "IT SUCKS!!" he then said so the economy is bad and you are requesting to skip a payment,,,OH OH i said yea ok i get it . He said Robert I would be glad to accomadate you, he then set me up to skip March payment and back on track with April no hidden fees just put me a payment added at the end. Just thought id share this with you guys and gals.

FYI did the same with my wifes 975$ 08 Tahoe payment.
Click to expand...

You seriously have a $975 Tahoe payment? Thats crazy.

I guess in tough times you do what you gotta. I imagine no penaties but you will still be paying the months interest so it did cost you to do so.

I had a credit card that I paid off monthly keep moving its due date up. Sure enough they included with the statement one month some info as to why and that if it was a problem to just call and they would push it to a later time. One month it was due right about pay day so I figured hey why not take them up and continue my clearing it every month.

It was a trick.

Sure no late payment or anything like that but I past the time to pay off without the months interest so I got the few weeks interest tacked on to the bill.

Sneaky azzholes.
 
robnu0069 said:
So my wife gets put on bedrest from being pregnant and now I took the responsibilty of the bills. I called my finance company and asked if I could be late for a week or two and the guy who i spoke with told me to mention the economy. I was like what ????? he said yea tell me about the economy. With a wierd look and ready to hang up I said "IT SUCKS!!" he then said so the economy is bad and you are requesting to skip a payment,,,OH OH i said yea ok i get it . He said Robert I would be glad to accomadate you, he then set me up to skip March payment and back on track with April no hidden fees just put me a payment added at the end. Just thought id share this with you guys and gals.

FYI did the same with my wifes 975$ 08 Tahoe payment.
Click to expand...

You aren't saving any money at all. In the end, you will just be paying them more interest, and it compounds monthly. I always pay mine off early. It saves hundreds to thousands in interest.
 
well i understand all that but it was what i had to do for March. My wife should be back on her feet in April or May and the medical cost of a high risk pregnancy is kicken my a@@ I will do anything to get my breath.
 
$975?????????????????


You are crazy, thats a house payment. What is wrong with you?
 
I'd take a Tahoe over some houses I've seen anyday. As for deals like this keep in mind that the companies you are dealing with will do anything to not lose money and to minimize loss. At the same time they will do anything they can to make money. So there is a lot of room for negotiation, but be very careful and make sure you get everything in writing.

The last thing they want is to have to take ownership of a used car or a house. I don't care what kind it is, or where it is located neither of those items has any resale value. The most valuable asset to these companies is the interest on your debt.
 
Don't worry, I'll say something stupid in a minute to make up for it.

:D
 
Not to get off track I just thought id share my experiance here for others who didnt know
 
Man I had to do the same thing last year. My roommate passed away at the age of 23 and I was real messed up, didn't work for about 3 months. Actually ended up hiding my car for about a month and the repo man left a note on my door so then I called the bank and she told me all my options and I got it taken care of. Sometimes you just gotta get by for a while.
 
I have 2400 square feet, 3 bedrooms, 2 baths on 8 acres - 6 miles from town - for about 1300/mo.

I've owned it for about 5 years now. That 1300 includes extra principle to knock 5 years off the end of loan, and save a buttload of interest.
 
LS4me said:
WHERE!!!!!

We bought ours in 1993 and our PITI is ~$2K per month! I've been telling my wife we need to move somewhere less expensive!
Click to expand...

You live in California dude..even apartments are close to 2500 a month. I got client's who's kids are going to school in Cali and they are outraged by how much they are paying their kids rent...they would of prefered getting them a tahoe with a trailor that has a bath and shower :p
 
Even here in Lake Washington (means Seattle, REdmond, Bellevue, etc)housing areas the average house is 450k
 
thats why i love living out in the country, the average house around where i live is 80 to 120, our 4 bedroom 3 bath was 230, and right now you can get a forclosed home in detroit for 5-10
 
Austin, Texas you can get a brand new 3-4 bedroom in great neighborhoods for about 1K/month. And with the new $8,000 tax credit for new home buyers its gets even better.
 
she finally went into labor today and gave birth @1209pm we will be back on track next month. Please take note of the future LSE rider. Thanks to you all
 
I know

Not to get off topic, but that sounds WAY too good to be true if you look at the example scenario they have on the website....

It does sound to good to be true but it does work. You just got to watch out for spending too much money. You gain equity very fast in your home. My credit score is high and I had enough equity in my house to do it. This is a very popular way of doing it in Australia . I can't figure out why it hasn't caught on in the US. I know the banks will not promote it because they loose money. You have to get a line that you can have unlimited withdrawals and go for it. We basically put both of our paychecks in the line of credit and use our credit cards to pay everything and pay off the credit card ever month. Any extra money that we have goes on the principal of the loan. Also when you put in your paychecks it satisfies the payment and puts interest on less money because you have paid a hunk on the principal. I talked with our CPA at work and my father in law is a CPA and both thought it was a good way to do it if you just didn't go on a spending spree when you see how much equity you are gaining it you house.
 
You must log in or register to reply here.

Members online

Total: 165 (members: 1, guests: 164)
Back
Top