Perfect opportunity to hook up a battery tender to the 12v
Just have to say, this is the kind of thread that makes me proud to be part of this community. I love the way everyone jumped in to help the OP with some really thoughtful advice. Nice job all
I enjoy helping folks who are receptive to constructive feedback.
Another idea since AG isn’t responsive- contact local elected officials at district/city/county levels. They generally are responsive and can often assist including back channeling to AGs office.
@sarxworks - Any word from the AG’s office about your complaint?
Unfortunately they will not go further.
“Accordingly, because this matter is already the subject of legal process, this office cannot mediate your complaint.”
Worth the shot I guess.
I did do research on EV’s and yeah that isn’t happening. My insurance would be through the roof (~$800/mo).
Requested a few refinancing rates from my bank, AutoPay, Capital One, OpenRoad financing and yeah it was shot down due to current value of the car and the fact it’s too old (10 years).
Currently awaiting a response from my local credit union but not looking good rn…
I’m sorry to hear that.
0% APR new car loan is probably your least worst option.
That is if any bank even approved a deal like that.
One I can get to driving my car, I’m gonna be able to shop around
how the hell $800/month is possible?
Make sure to cross-shop with other providers.
Yep,
Current insurance (Root) - $850
GEICO - $790
Progressive - the worst I ever got $1.2k
StateFarm - takes the cake $2.3k
And this is for the 2024 Chevrolet Blazer EV for reference
Man that’s some crazy insurance pricing.
I have a new Chevy equinox 2024 EV and the insurance rate with State farm is 146.46 a month but that’s with renters and umbrella coverage + a second car discount bundled for that price.
I’m guessing it’s the local area or the credit history that’s raising your rates be so much .
I would suggest skyla credit union for refinancing since they offer auto loans up to 15 years old for 6.99 -16.99 interest rate for 11+ year old cars and 4.99 to 17.75 for 2-10 year old cars.
Just to confirm, are these rates monthly or yearly?
They are monthly.
- I have no words.
Ok, I have two options, I contacted two CU’s and I have two different things I can do
My local CU offered me a refinance for the amount left and at 6% an incredible amount
Vs
Another CU offered me a personal loan of 13% where I could just pay off the negative equity and get rid of the car.
Option 2 is sounding kinda tempting but wanted to see what you guys may have thought
So an $8k loan, on top of the other loan you are paying off?
If I were in your shoes, I would go with this option. You won’t be incurring any more debt, and you will be able to pay down the principal loan balance faster.
Yeah.
Yeah that’s a good point however wouldn’t just paying off the car by selling it free up my finances a bit make it easier to pay more? Like I wouldn’t be paying anymore for insurance and a car loan anymore.
Only you can determine whether you can afford to be paying off two personal loans and not have a car to drive.
How would either CU loan solve your actual problem?