POP QUIZ TIME!What do you get when you add:
(Starry-Eyed Woman Earning $2.5k per Month)
+
(Uninhibited Luxury Car Dealer)
+
(Loan Underwriting Skills of a Rusty Shovel)
+
(Assorted Other Financial Dumbassery)
Answer:
CBS5: But She NEEDED the $100k Beemer
Hat tip to the kids at Fatwallet's Finance forums for pointing me to that doozy.
It's not bad enough that the lease payment is costing our heroine Vivian a mere $1,300 each month. If you watch the video at the link above, what you'll discover is that dear Viv laid down a $30k down payment for her beloved BMW. And just where'd she get that coinage, you ask?
Think "cash advance." (That part's in the video, not the article.)
Then think "cleaned out her life and retirement savings." From the article:
Vivian has only a few options. She can plead with the finance company to release her from the lease or have the car repossessed, losing her good credit and a $30,000 down payment which consisted of her entire retirement savings.
Zero sympathy from my side of the table. Our heroine signed the contract with the bad numbers, and she knew what the payment was going to be.
Mmmmm ... yummy financial devastation served here.
Eat it, Vivian.
Labels: Automobiles
