Buying a car.

[carol b]

We have done this so many times and financed most of them. My problem now is not making the payments but dealing with the lenders.

We have been making large weekly payments to pay this loan off. The issue is that I have made these as principle only payments.

I had a long discussion with a person on the phone who kept telling me that I was wrong about what I was saying.

Today they proved me right. The payment that I was behind according to them, was made and it all went to interest which is exactly what I was saying to him to begin with.

Its all about them making money. It has nothing to do with me making regular payments.

I have to make at least one of those large payments each month as a regular type in order for them to collect interest on the loan. Since I hadn't been they marked me as late for this month and then took it all for themselves. Nothing came off of my loan balance.

Pretty shitty practices as far as I am concerned but I suppose I have no choice. But let me tell you once it is paid off I will no longer be using Chase bank for anything. No loans,credit cards,nothing.

[pennypinch]

Ya know it's a real shame how dirty banks can be and how they word things and explain things in a way that we think we get what they are saying but I truely believe that they know they aren't being clear so that they can make money. It's ridiculous. I went through the same thing a few years ago when I purchased a 4 wheeler for the kids. It was quite ridiculous what I ended up paying for it because they made me believe one thing when in fact nothing they had said ended up being true.

Speaking of buying a car though... I just read that we can expect the prices to go up because of the Earthquake in Japan. So if anyone is considering buying a car you better do it now.

They say that specifically Japanese models will go up but keep in mind that other types of cars have parts made in Japan so those will go up too.

But in the coming weeks, factory shut-downs and other disruptions in Japan could make it difficult to find some Japanese-built cars. The problems could even affect inventories of American cars, sincesome components may be produced in Japan.

General Motors already had to shut down a Lousinana Factory producing mid-size pick-up trucks due to a shortage of unspecified Japanese parts.