Car payment relief during Coronavirus + incentive programs such as 'zero interest' and deferred payments

x2…First thing I thought when I saw that.

I might even go as far as deleting the whole post and reposting it with a new screenshot since you can see edits.

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x3… I already gave it an :flushed::flushed:.

Made me appreciate I went with my MB over the RRS even though they don’t quite compare.

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@max_g @mp11477 @myles21

LOL I’ve put my payments into the trophy garage.

They look inflated because I just got hit with MA excise tax. Thats the PPT (personal property tax) and its added to the base payment for this month.

I know (or guessed) but not everyone does … nor will they see the subsequent clarification

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Ugh the dreaded excise tax…Audi didn’t hit me with it yet for April but I know its coming…

Its terrible, ain’t it!? With your excise tax payment, they should give you wheel and tire insurance because the roads are still horrible :slight_smile:

I pay it back interest free over the course of the year and add it to my monthly.

Talk about unfair, the luxury cars pay so much more excise tax to use the same crappy roads as the less expensive cars do. I could never wrap my head around that one.
To steer somewhat back on topic, we should call up our respective towns and say we’re only paying a flat rate fee and walk our separate ways.

Shoot me the invoice for your keyboard repair in case my post made you spit your :coffee: out all over it

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Just cover my excise and we’ll call it even. I think it’s coming next month

Call me mr. obvious, but it looks like people are leveraging a bad situation for their own benefit. How do these people handle this situation if they just lose their job when there’s no worldwide emergency going on? Taking anger at BMW because they won’t (and probably can’t) allow such measures on a case by case basis just doesn’t make sense.

Are people purchasing luxury cars (or just cars in general) while having no emergency fund in place? Oh that’s right, 75% of Americans live paycheck to paycheck. So they’re basically screwing themselves over and then blame companies for not acting “fairly”.

You signed the contract, did it seem like an unfair contract at the time of signing? Was there a provision in the contract saying that during financial hardship you can just turn in your car and walk away as you please?

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@wtwo3 You’re exactly right.

That’s why I should take a vacation from LH

Deferred payments is fair. Forgiven payments…not so much.

Edit

Some of my friends at dealerships have shown me emails coming in. People who rolled negative equity into a bad lease a year ago are emailing and trying to use this situation as an excuse to end the lease early.

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You know, I used to bitch and moan about that tax when I lived in Southie and was paying it on my old Civic. Then I moved to Virginia and my tax went up 1000%. Unsurprisingly, Massachusetts car tax is much more progressive than Virginia’s, which is good for people who drive old Civics and bad for people who have nice cars.

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No kidding?? I am not familiar with Virginia’s taxes outside of the 4.xx % at signing. What you’ve described sounds pretty gross.

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Definitely agree. My wife and I were having that conversation last night. I’ve always been a saver first and have a comfortable emergency fund so times like these, when I’ll have little income coming in, doesn’t worry me so much because I prepared for it.
I’d be willing to bet most people who are complaining about being treated unfairly didn’t take the proper measures to take care of themselves first. Sure, everyone’s income is different but there’s a responsibility to live within your means. That guy especially; he’s driving a Bimmer so there’s at least some sort of discretionary income that could’ve been used in better ways.

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There is asking for fairness & there is being a DB.

A fair person would know what their financial obligations are and would look for a way to fulfill them. If the situation goes dire there are other venues to take care of that obligation.

You have to be fair to your own conscientious.

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Maybe they need to visit the Dave Ramsey school of spending :grimacing:

Lol, do a search for the thread on that guy. It’s an entertaining read.

lol without rehashing that thread… While I"m not a fan of his advice because I think it’s overly simplistic and prohibitive… I will admit at least it’s idiot proof to keep the masses living within their means (although some people seem to even screw that up)

I disagree. Deferred payments isn’t fair. Paying the contract you signed is fair. Deferred payments is the bank being generous.

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That’s OK. I dont need everyone to agree with me :slight_smile:

I just think deferred payments are fair if your employment was recently jeopardized due to the pandemic.

I dont mean it in general due to loss of employment. I mean it specifically in this scenario.

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