Be realistic about which extras you can remove and which you can not.
The maintenence package you can cancel and get a prorated return. Thats probably about it.
What type of Civic is this. LX, EX , Touring., SportâŚ
2018 Civic LX with 102k miles is selling for 18k on Carvana. Just to give you a price perspective.
CLO GPS is $1995. THEFT protection.
NEO fill is $245. Really to fill nitro air in tires cost $245. You can do it free at Costco in the parking lot.
If they can remove those 2 which I seriously doubt it they will since they look very sleezy to start with.
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Those arent coming off 10 hours later, much less 10 weeks
I know once you sign it its a done deal.
This is going to sound harsh, but if you knew the interest rate was too high did you try negotiating? I understand you were in need of a car at the time, but as others have said, do not rush into making your next move without a clear plan.
If you donât mind me asking, how did you get to work before then?
Here is some free advice, once you have figured things out with the car.
- Work on building your credit - I am no financial expert, but it has taken me 20 years to build up my score to 800+.
- Read up on what it takes to get some of the best interest rates. Some dealerships are known to misrepresent the truth and steer you towards their preferred lender, which sometimes results in a higher rate. For your next car purchase, get pre-approved from a Credit Union. You can then compare rates and go with the lender with the best terms
- I am not sure how old you are (no need to disclose it), but take this as a learning experience.
As youâve seen, there is a ton of valuable information. Take your time to read up on it.
Good luck.
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Going back to dealership is waisting your time and Gas⌠Call the maintenance company and tell them you decided to cancel the agreement and need a refund. Its pro rated .
Then look at other options like staying with current finance, re finance, tradein, sell it if you can find anything else better lower then $660 per month.
Call your bank and ask for a payoff quote . Just to give you an idea how much deep you are in debt if you decide to sell .
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Find a relative with good credit have them add you to there oldest credit card that they use regularly. They will get a card in the mail they never give to you. In a few months your score will be 40-70 pts higher. Refinance at a much lower rate, but first remove all the garbage on the agreement mentioned above. Credit is a scam and you can scam credit.
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100%. My advice was for the OP to not be without GAP at any point. Cancel only when they have an alternative - either during refi or from their auto insurance.
Cancelling those plans may end up reducing your pricipal but may not reduce your actual monthly payment. Your effective payment by cancelling the maintenance plan from Fidelity / JM&A and the GAP would drop your effective payment by $60. The maintenance plan alone will drop it by $40.
You goal would be to refinance but finding someone willing to refinance a 100k+ mileage vehicle will be difficult. I believe your low downpayment and the high mileage attributed to your high interest rate - subprime lenders tend to lean on these more than your actual credit profile once youâre in that bucket.
Try getting your vehicle fixed to make this less of a pain point. Good luck and congrats on your new vehicle & more importantly, happy that you were able to get out of your previous situation.
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Before this car I had my 2016 Audi A6 which I paid in cash for. I have always paid cash for my cars, have never financed.
A6 is a different car then Civic. What happened to that car, if you have cash or some one can lend you then just buy the civic and refinance it. I think your payoff is ~ 21.3k. Or refinance it and payoff the current lender . I am sure you can get a better rate with 670 score. Also run your credit report with TU and Experian its free and find out where you stand on credit so when you deal with credit union for refinancing you not in dark.
Paying off some of your credit card can improve your scores quickly. You need to stay less then 30% utilization to break 700
Edit: Not sure you understand Refinancing. They will look at LTV of the Civic, they can only give you the loan for the value of the car not what you owe. Any difference, you paying as down-payment on the loan.
So Refinancing is not easy in this situation.
I would say the number 1 move is to find the credit unions youâre eligible to join in LA along with the ones listed on this site that were mentioned earlier in the thread. Find the lowest rates. In the morning call them from lowest/closest an on up to see if they will refi your Civic. Refi, with Gap insurance and then move on getting the extras taken away.
Number 2 thing I think we are missing out on is using the media. This is slightly sketchy since you signed and neglected to read in your hurry to get a new car. There are buses trains and uber to get you to work. It may take 2 hours of your time each way for a week but would have been cheaper than signing the loan. Just because you say you needed a car, there are other modes of transport.
Back to option 2. Find the local consumer affairs reporters. The last thing the dealership wants is to show up on the news and grandma telling her grandkids to never trust Russell Westbrook. This is not the only dealership in town with his name on it. I remember Channel 4 and 2/9 both had them. Do they still? I donât know but local news is about the only thing local stations spend money on these days and 2,4,5,7,9, and 11 all have news practically all day. This would be great for sweeps this month. Basketball star that no one likes and ruining the beloved basketball team is ripping off local distressed woman. If that doesnât take the LA Times has a couple of know nothing clickbait columnists in Plashke and Hernandez that might be happy to try and bury Russell if the Lakers donât get rid of him before the column appears. If their is a choice between negative publicity and unwinding the deal, they may choose to unwind the deal.
Yelp and Google reviews are your friend too if they tell you no about parts they can legally change. Just donât put any false statements on those reviews as you could be held liable for false statements.
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Online sites to check for refi offers with soft credit pulls - https://autopay.com, Caribou Auto Refinance: Want to Save Money on Your Car Loan?
Local credit unions are a great option as well but please ask them about minimum qualifications before applying.
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I never realized its Russellwestbrook dealrship.
I am sure many in LA will buy her a brand new 2023 Civic Touring if her post can generate enough attention so he can be kicked out of Lakers.
Big fan of 90 Lakers. And of course black mamba âŚ
Just spitballing but Iâd venture to guess that the GPS system was the reason that this dealer was able to get the loan pushed through when CarMax couldnât/wouldnât. Helps protect the asset in the event that someone with no auto loan history and borderline credit misses a payment or three. This whole thread is strange, it reads more like âI didnât think that this woman I went out on a limb for by approving her rental application would go out on the same day and spend nearly $700/mo on a used Civicâ than âHelp this poor woman who got swindled by the clearly labeled contract in front of her that showed 25% APRâ.
Even if youâre able to cancel the add on products your monthly payment will stay the same.
Correct monthly payments will not change a dime.
But she can get atleast 90% of the maintenance cotract money back if its pro rate. They usually send a check. I did it once and get the money back.
Donât hate the Brodie 
#whynot
BuT I NeEdEd a cAr iMmEdIaTeLy aNd oNe tHaTâS GoOd oN GaS.
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At this point, may be cheaper to take a 8k dollar personal loan and refinance the Civic at a much lower rate with a bank.