Monday, February 11, 2008

She Deserves the $100k BMW


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)


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.


— Posted by Michael @ 7:57 AM


And of course: "...she plans to pursue legal action." (from the video)

Ah, America...where nothing is ever your fault!


I could only imagine how much better this country would be if people took responsibility for their actions. I wish people would stop blaming other people for their problems. I, for example, got myself into major credit card debt but I put on my "big boy" pants and realized I needed to make a change. I didn't blame the credit card companies for giving me the credit cards, I blame myself for using them. My credit card debt is now gone!!


She's embarassed??? Yet she still thinks she needs to sue. It is her own stupid fault, I am sure our great future leaders (hillary and barack) will come to her rescue and start a fund fueled by the taxes of people like us who actually watch what we spend our money on just like the mortgage crisis


Maybe she could go to Ditech and refinance to an IO for 15 years. That isn't much past the 7 years that auto financing has gone to recently. After all, she deserves to have this car.

** Comments Closed on this Post **

Thoughts on my personal finances, goals, experiences, motivations, and accomplishments (or lack thereof).

My financial life began turning around when I took responsibility for it.
— Dave Ramsey


Start (2005-12): ~$21,900
Currently: $0
[About Our Debt Paydown]


Savings Goal: $15,000
Currently: ~$15,115
[About Our Liquid Savings Goal]