He Bought Too Much Car and Now Wants Out

Añadido: 2026-05-10

[00:00:00]Yeah, I bought this scat pack, man, and I can't afford this John no more.

[00:00:03]>> I was calling because Flex Pay was supposed to pay my rent and they didn't do it. So, I'm basically trying to see what y'all going to do about that.

[00:00:10]>> So, Jeff Bezos, this would be a really cool time to Venmo me, bro.

[00:00:14]>> All right, I've got some great clips today. They get better as we go. And by better, I mean dumber.

[00:00:18]>> I'm not doing too good, man.

[00:00:20]>> What you mean? What's going on? What's up?

[00:00:22]>> Yeah, I bought this pack, man, and I can't afford this no more, >> bro. We went over that part two.

[00:00:27]everything straight with work and everything like that right now.

[00:00:30]>> Yeah, man. I'm trying to see if I could just get a different car instead, man.

[00:00:33]Refinance or something, man. I got people trying to steal my car. It's just problem after problem. You know what I'm saying?

[00:00:38]>> I know it's a car that you love. You still love driving that car still, right?

[00:00:41]>> Yeah, man. Of course.

[00:00:42]>> The first step that we can take on this honestly is that we can try to, you know, refinance that car.

[00:00:46]>> Refinance?

[00:00:47]>> Yeah, that's probably going to be the first best option for you.

[00:00:50]>> The same thing happened to me with a few vehicles. I bought them because I wanted them and I only thought about the payment. not everything that comes after it. All the boring stuff that somehow becomes very interesting after you already bought it >> because you do have this financing for like six, eight months right now, right?

[00:01:05]>> Yeah.

[00:01:05]>> I mean, your credit is definitely better than when you first bought that car. So, I do know the at that point insurance wasn't the best. We're still able to get it done, but you know, this time around, as I told you last time, should be able to refinance and, you know, get those payments down. Now, the option don't work out for you. That's going to be the first attempt. I'm going to try to trade you out of that car and get you into something, you know, that is going to be more budget friendly when it comes to your payments cuz right now you are what, seven?

[00:01:27]>> Yeah, we're a little above seven.

[00:01:29]>> I I I do remember you. I remember everything. I remember going on that test ride. You you went a little crazy on that test ride. Remember that?

[00:01:34]>> It's funny how fast the excitement wears off. Just a few months. You go from something you have to have to something you're stuck budgeting around and suddenly the car you couldn't live without is the reason you can't afford anything else.

[00:01:45]>> That's why it's probably the problem though.

[00:01:46]>> Look, I guess the first option is you want to keep this car, right? You just want to have better monthly payments.

[00:01:50]>> Yeah, man. That's pretty much it.

[00:01:51]>> I mean, look, here at Mainland, we not just focus on selling a car. We focus on, you know, going all around service.

[00:01:57]So, it's not like I'm not going to be able to help you with this. You know, you come here, I'll give you the information to try to see if we can help you refinance. If not, you know, we just go from there and I try to get you into a car that is going to be better monthly wise. So, you looking to be like, well, under five, possibly under six.

[00:02:10]>> Yeah, under around five. Under six.

[00:02:13]>> Got it. Perfect. Dropping the payment a little bit doesn't really make sense, especially if you have to extend the loan to do it. He's only had the car for 6 to 8 months. His credit probably hasn't improved enough to make a real difference. So, the payment might look slightly better, but the loan itself could get even worse. You have availability tomorrow to stop by?

[00:02:29]>> Yeah, stop by around like 2 3:00.

[00:02:32]>> Job? Are you still at that same job?

[00:02:33]>> Yeah, I'm still working here. I'm here right now.

[00:02:35]>> Perfect. So, you still have access from your phones. We get pays from there. All right. Perfect. So, look, just bring that in. Brings your ID. Bring the car.

[00:02:42]We can evaluate it. we can see, you know, we can try to see which route is going to make more sense for you if you're looking to trade out of that car or we can help you trying to refinance.

[00:02:49]I'm going to try to help you with whatever is easier for you. So, I'll see you tomorrow. What time is better for you tomorrow?

[00:02:53]>> Uh, I say around 2:30.

[00:02:55]>> Perfect. He's very early into the loan, so he's probably going to owe a lot more than the car is worth. That means refinancing might lower the payment a little, but it doesn't fix a real problem. He's still going to be owing too much on a car that's losing value every day.

[00:03:07]>> Thank you for calling Vivian Homes. This is Mrs. Clark. How can I help you today?

[00:03:11]Hey. Um, this is this is Tia Williams. I was calling because Flex Pay was supposed to pay my rent and they didn't do it. So, I'm basically trying to see what y'all going to do about that.

[00:03:24]>> They didn't pay my rent and I'm not trying to get >> Mhm.

[00:03:29]>> Okay. Um, what what unit are you? Sorry, >> I'm in A3. Yes, in A3.

[00:03:36]>> I had to look up what Flex Pay was.

[00:03:38]Basically, if you can't cover your rent, you send them a partial payment, they cover the rest. You then owe them back with interest. Anyone can fall behind.

[00:03:45]Life happens. But she spent her rent money on vacation. So, Flex Pay didn't create the problem. It just showed up after the bad decision.

[00:03:53]>> Okay. Um, and you said Flex Pay? I'm I'm not familiar with that.

[00:03:58]>> Flex Pay is the app that I use to be paying my rent. That's how y'all get rent money every month. And I just paid them back, like half of the money back, but they didn't pay it this month.

[00:04:09]And y'all put a note on my door. So, I'm trying to see what y'all trying to do cuz I'm not going to like y'all need to fix this.

[00:04:17]>> She actually thinks her landlord needs to fix this because she didn't pay her rent. That is a very interesting way to frame the problem. The landlord didn't book the vacation. The landlord didn't spend the money. The landlord is just the person who is wondering where the rent money is.

[00:04:32]Um, okay. Um, well, I I appreciate you communicating, but um, however, I still need to let you know that um, there's a late fee amount that's applied to your account uh, tomorrow. Um, what date can you promise to have the full amount paid by?

[00:04:46]>> I'm not paying a late fee. I told the other dude to answer the phone, I don't have the money for the rent, so how I'm going to pay a late fee. Flex pay was supposed to pay my rent. They did not pay my rent. So, y'all need to give me more time to pay my rent is what I'm saying without the late fees. I don't have that.

[00:05:03]>> She's talking like she has a choice. If only bills work that way. I don't have the money, so I'm not going to pay.

[00:05:08]She's forgetting one little thing, the rental contract. She already agreed to it when she signed.

[00:05:14]>> Um, yeah. I I don't know what to say, Miss Williams. um you still will have your late fee or you will receive uh a notice for 3day to pay or quit. So there's nothing that we can do about your rent except except your money.

[00:05:34]>> I'll be down now. I'm going to go down now. Bye.

[00:05:39]>> Okay.

[00:05:39]>> Let me get off live.

[00:05:41]>> She fa to go down there now. I don't know what fa means, but it sounds serious. Almost as serious as paying your rent on time so you don't get evicted. Going down there doesn't change the fact that you didn't pay. That's not a plan. That's just showing up with confidence and no rent.

[00:05:54]>> So, as it turns out, the student loans that I've been paying $1,500 a month for for 2 years have a 17% interest rate.

[00:06:04]So, what I thought I'd been paying off for all this time, I'm actually like I owe more than what I started off with.

[00:06:12]What a So Jeff Bezos, this would be a really cool time to Venmo me, bro. Like I owe $90,000 and I didn't even spend that much on school.

[00:06:24]>> I don't understand how you go 2 years without looking at your student loan balance. That is literally the number that tells you if you're making progress. You don't have to check it every day, but 2 years, that's a long time to make payments and never check what they're actually doing.

[00:06:37]>> Like any rich person, please tap in.

[00:06:39]like Courtney Kardashian. Like you probably have eight houses. I'm never going to be able to buy one because I went to college. I just signed up to be an egg donor. Guess what? Got approved.

[00:06:50]Who wants mying kids? I can't afford them. So start a bidding more. Justing take them. What do you want? My left arm, too. Like what the am I supposed to do? I'm like I'm going to be in debt for my wholeing life.

[00:07:06]>> It's always the same. Nobody reads the contract. Nobody checks the balance.

[00:07:09]Nobody looks at the interest. After they sign, everyone is shocked that the loan did exactly what the paperwork said it would do.

[00:07:15]>> How does that even make sense? I signed up for this [ __ ] when I was 17. Like, this should not be legal, bro. I got upset about it at work and my coworker was like, "Don't you have like a rich relative who can pay that for you?" No.

[00:07:29]My family's poor. Like, no. And the worst part is, bro, look where I am. Like I can't go in because I can't spend money, but I just want to like be here because it makes me feel better.

[00:07:44]>> Nobody is going to jump in and save you just because you're crying on the internet. Jeff Basos, Kim Kardashian, selling your eggs. That's when you can tell the panic is officially taken over.

[00:07:53]She doesn't have a plan. She's just naming things that sound like money.

[00:07:56]>> How much debt do you have currently?

[00:07:58]>> None, cuz I just paid off all my credit card.

[00:08:00]>> Way to go. Wait, you still have the credit card, though?

[00:08:03]>> Yes.

[00:08:03]>> What's to say you're not going to go back into credit card debt? I'm probably going to tomorrow when we go shopping, so it's fine.

[00:08:09]>> And you have no other debt. No car loan.

[00:08:11]>> Well, and you're married.

[00:08:13]>> Yeah. He He has all that, not me.

[00:08:15]>> I'm sorry. What? So, you all have very separate finances?

[00:08:18]>> Yes.

[00:08:18]>> So, you're like, that's his mess to clean up. I ain't touching it.

[00:08:21]>> Yeah.

[00:08:21]>> Okay. What kind of debt is he in?

[00:08:23]>> We have my car and >> I'm sorry.

[00:08:26]>> She just paid off her credit cards and she's already talking about using them again. So, the payoff wasn't really a win. It just freed up room to borrow again. Your car has debt, but it's not your problem.

[00:08:36]>> Yeah.

[00:08:37]>> Whose name is on the loan?

[00:08:38]>> Mine.

[00:08:39]>> It's your debt.

[00:08:40]>> But he pays it.

[00:08:41]>> How much is left on the balance?

[00:08:43]>> 40,000.

[00:08:44]>> So, you straight up lied to me in the beginning when you said I don't have debt. And then you just told me your name is on a $40,000 car loan.

[00:08:51]>> True.

[00:08:51]>> What >> kind of car is this?

[00:08:52]>> It's a 2024 Palisade.

[00:08:54]>> Okay, we're going to play a game here.

[00:08:56]You said you're how old?

[00:08:57]>> 26.

[00:08:57]>> So, we're go 26 to 66. If you invested that car payment instead of constantly getting a new fancy car >> with your payment that is how much?

[00:09:05]>> 900.

[00:09:06]>> She has a $900 car payment in her name, but somehow it's not her debt. That's a pretty bold way to describe something attached to your credit because if it's in your name, it can still come back on you whether you want to claim it or not.

[00:09:17]>> How much do you think you would have?

[00:09:18]You want to hit calculate?

[00:09:20]>> Oh, that's a lot.

[00:09:21]>> I don't want >> $5.7 million.

[00:09:24]>> What' you say I needed to do? If you just invest that 900 instead of give it to a car lender every month.

[00:09:30]>> That's how much you're paying the lender every month, right?

[00:09:32]>> Oh, >> you have the money to pay it. Why not have the money to build wealth instead?

[00:09:36]>> Well, I got to have a car to drive.

[00:09:38]>> You could have paid cash for a a lesser car. A 2018 Palisade could still get you around.

[00:09:43]>> I don't know. It was a Christmas present.

[00:09:45]>> From who?

[00:09:46]>> My husband.

[00:09:47]>> So, he gave you debt for Christmas.

[00:09:49]>> I have a feeling her husband is going to be working a lot of overtime. Maybe they can afford the payment, but affording it doesn't mean it was a good decision.

[00:09:56]Because every dollar going there is a dollar that can't go somewhere else.

[00:09:59]Savings, investment, a house, breathing room. That's the part people forget.

[00:10:03]It's not just what the payment costs you this month. It's what it takes away from you later. That's it for this one. See you in the next one. Bye.