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Valued Contributor
usmc58555
Posts: 1,668
Registered: ‎02-18-2009
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Re: road loans /santander approval 25.24 Apr

seeing as you are in such an enviable situation, take the loan offered and pay off arly.

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Credit is not a right, but a business transaction, one that takes into account risk, and charges accordingly based on that risk.
Your credit score is an aspect of your credit profile. Important? yes but just an aspect. Contributing/supplemental information determines the finer point of the deal. Ask any question, respect me not to get mad if the answer is not the affirmation you are looking for,
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djtenn2000
Posts: 6
Registered: ‎06-16-2011
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Re: road loans /santander approval 25.24 Apr

The refinancing is a great option, but won't I still be paying a LOT for the car since I would be getting a lower rate on the original loan? 

 

I appreciate everyone's input and I think I will follow the advice to just take the loan and deal with it.  There are other circumstances that I've not revealed, but I don't think they affect the outcome of the advice you all have given. 

 

Does anyone know costs associated with owning a hybrid vehicle?  I'm looking at an 06 Honda Civic Hybrid.  It's $13K with less than 40K miles on it.  I was thinking with the kind of miles I drive, it would be a superb choice.  any input?

Valued Member
Caliche
Posts: 46
Registered: ‎04-14-2011
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Re: road loans /santander approval 25.24 Apr

My commentary is probably not welcomed but it's a sad state of affairs that someone has to go into 6 figure debt to an instituion of  higher learning to obtain an advanced degree just to make 45k a year at the age of 37.  Different strokes for different folks and all but if I were you I think I might uproot and head for greener job markets.


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djtenn2000
Posts: 6
Registered: ‎06-16-2011
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Re: road loans /santander approval 25.24 Apr

You're right.. your commentary is not welcomed because it is subjective and has nothing to do with my post.  No need to comment further unless you like  seeing your words on a screen because I won't be responding.  But, I did want you to feel acknowledge for what I, specifically, asked people NOT to do when replying to the situation that I was seeking advice.  I hope you feel good sitting on your 10-foot high judgement pole.  

 

Now back to the situation at hand.  

Valued Contributor
p-
Posts: 2,655
Registered: ‎06-05-2008
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Re: road loans /santander approval 25.24 Apr


Caliche wrote:

My commentary is probably not welcomed but it's a sad state of affairs that someone has to go into 6 figure debt to an instituion of  higher learning to obtain an advanced degree just to make 45k a year at the age of 37.  Different strokes for different folks and all but if I were you I think I might uproot and head for greener job markets.


Irrelevent manifesto follows:

 

A college degree is not an instant path to a six figure income.  It is just a qualification on your resume that can open additional doors for you.  I never finished my degree; I was managing a nightclub at night and trying to do school during the day and it was damn near impossible.  I managed to use that management experience to work my way up in leadership in different fields until I ended up in executive leadership at the company I work now.  I get paid very well, but my career options are limited.  Even with my experience, many companies won't look at me without a degree.  I now find myself in a position where I may go back to school in my 30's just to have more options open to me.

 

Someone fresh out of college without a lot of experience will have to start at entry level and work their way up just like I did.  The difference is the number of choices they have, and paths open to them that are not open to someone like me.  Someone my age who finished an advanced degree right out of high school and had my same work experience would likely qualify for a higher paying job than the one I have now.  In terms of the long game, that person wins.  He or she will make more than me even if you subtract what they paid for their education.

 

Of course, in the short game I think I won.  That same student was up all night cramming for finals while I was on a band bus on the way to Vegas, just because I could...  A year they spent living on top ramen and hitting the books was the year I spent working as a ski patroller and bartending 3 days a week, and spending the other 4 traveling around the NW and Canada with a snowboard strapped to the top of my beat up camaro in search of fresh powder.

 

That being said, the path I took led to success, but for many who took the same path it did not.  Your odds are much better with a degree, and I advocate college to my children.  All in all, it's a gamble either way.  You choose your own path and the odds you are comfortable with, and will be responsible for the results.

12-15-14: FICO EXP: 813 - EQU:802 - TRAN: 756 - AVG: 790 +240 points from JUN 2008 - MY CREDIT JOURNAL

Valued Contributor
usmc58555
Posts: 1,668
Registered: ‎02-18-2009
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Re: road loans /santander approval 25.24 Apr


Caliche wrote:

My commentary is probably not welcomed but it's a sad state of affairs that someone has to go into 6 figure debt to an instituion of  higher learning to obtain an advanced degree just to make 45k a year at the age of 37.  Different strokes for different folks and all but if I were you I think I might uproot and head for greener job markets.



I agree.

Signature line begins:
Credit is not a right, but a business transaction, one that takes into account risk, and charges accordingly based on that risk.
Your credit score is an aspect of your credit profile. Important? yes but just an aspect. Contributing/supplemental information determines the finer point of the deal. Ask any question, respect me not to get mad if the answer is not the affirmation you are looking for,
Valued Contributor
usmc58555
Posts: 1,668
Registered: ‎02-18-2009
0

Re: road loans /santander approval 25.24 Apr


djtenn2000 wrote:

You're right.. your commentary is not welcomed because it is subjective and has nothing to do with my post.  No need to comment further unless you like  seeing your words on a screen because I won't be responding.  But, I did want you to feel acknowledge for what I, specifically, asked people NOT to do when replying to the situation that I was seeking advice.  I hope you feel good sitting on your 10-foot high judgement pole.  

 

Now back to the situation at hand.  


myFICO forums TOS is that you/all will be friendly supportive and respectfull.

 

You are also a participant in a PUBLIC forum. Once you make your case and situation known you do open yourself up for anyone who is a member to chime in and say whatever they want up to and including missing your point entirely  or heck going on in paragraphs about Basset Hounds. We are not paid participants here and the advice is what it is.

 

I posted an experience I had with Chase last week and had to endure pages of people telling ME how stupid I was in both how I paid my bills and paying my bills.
http://ficoforums.myfico.com/t5/Credit-Cards/Chase-payment-Due-Today-Sat-paid-in-cash-and/td-p/94931...


this is not a heavily moderated Forum- it is moderated but there is some lattitude. Probably because they do not pay the moderators here. If you want to see a highly moderated Forum I implore you to go to Television Without Pity and participate there. You will probably be on suspension in the first week and may make it a year before they terminate your account.

 

if you want to partcipate and get targeted advice that is only what you want to hear I suggest you go visit a Fianncial Planner that you can pay by the hour.

 

 

Signature line begins:
Credit is not a right, but a business transaction, one that takes into account risk, and charges accordingly based on that risk.
Your credit score is an aspect of your credit profile. Important? yes but just an aspect. Contributing/supplemental information determines the finer point of the deal. Ask any question, respect me not to get mad if the answer is not the affirmation you are looking for,
New Member
djtenn2000
Posts: 6
Registered: ‎06-16-2011
0

Re: road loans /santander approval 25.24 Apr

@usmc.  I got the advice I was seeking..mostly from your 'respectful' replies, which I appreciate.  Actually, EVERYONE who responded, clearly read the end part of my original post about not seeking 'subjective' comments, except the last person who opened the door for judgemental b.s.  To that, I have no further comment other than, each life is different and we make the best as it changes towards things we are not prepared for and have to react.  I've made good decisions and bad ones, but mostly good decisions, including posting int his forum.  However, I will not let another person present judgemental opinions where it's not warranted.  If that's mannerable enough for you or the majority of this forum, then I wish you all the best...because before I posted, I read all the 'unecessary' comments that ppl made.  It's just a distraction to getting to what you 'need'.  Perhaps all of you who don't have the problem and feel the need to speak holier than thou, should remember when you DID have the problem.  If you never had the problem, then you shouldn't be here in the first place.  

 

Be helpful..not judgemental.  If I wanted judgement, then I'd seek God or 'a friend'.  Have a good Sunday.  This post is closed for discussion on my end.  And thank all of you who were kind of enough to be helpful.  

New Visitor
UncleRay99
Posts: 1
Registered: ‎12-23-2012
0

Re: road loans /santander approval 25.24 Apr

Buy a car that retains its value regardless of miles driven (civic hybrid is great), establish a relationship with a credit union, save up a few thousand dollars and use the money as a refi down payment with the credit union one year later.

 

Get a secured credit card immediately and treat it with respect. Between a consistently paid car loan and credit card your credit score within a year would rise 100 points. The credit union would seriously consider refinancing at a single digit APR with a solid recent payment history, a score of 650, and a down payment that would give the car significant equity. There is a limit to how high your credit score will increase due to your current debt/income ratio.

Valued Contributor
maiden_girl
Posts: 2,110
Registered: ‎12-29-2011
0

Re: road loans /santander approval 25.24 Apr

[ Edited ]

I don't suggest taking that loan! If you can, try sending GW letters to your paid/settled collections and you will see a jump in your credit. Maybe not a lot but you will see something! Santander has a bad rap!

 

I would definitely look into certified used cars from a dealer. They will meet the requirements of the loan if you are pre-approved! Also look into rental agencies that sell their cars. They are required to sell their cars once they reach about 40k miles.

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