Personal Finance Bought a newer used car from a dealership last month. Now they're telling me the contract was in error and I need to come back in... |
- Bought a newer used car from a dealership last month. Now they're telling me the contract was in error and I need to come back in...
- Bank sold my mortgage and the new bank can't find me on their system.
- (US) Buying A Home; Employer May Relocate At Any Time
- Student Loans | Income Based Repayment Plan | Marital Status at Tax Filing or At Application
- What is the wisest way to handle my extra unemployment money?
- How much car can I afford?
- First career job out of college, how do I put my earnings to maximum benefit?
- Refinancing for home repair
- Refinancing to add household liquidity
- Aunt wants help with finances, insists I get a middle name for added security?
- Am I able to pay off a 5 year car loan in 2 years ?
- Left Company Before Vesting Cliff, 401K Shows Fully Vested?
- No contact with cosigner. I've made all the payments. How can I sell the vehicle?
- Is doing a gap year/delaying enrollment into a school for better financial aid unheard of?
- Worth it to trade in Car with existing loan?
- Is my bank BSing me about overdraft protection?
- Want to give scholarship to 5 students at community college.
- How do you buy a car?
- How to Decide Which CC Company to add my sibilings?
- New job, what to do with my 401k?
- Question about reading material
- What to do with balance in pension plan after leaving job?
- Attempted Hit and Run
| Posted: 11 Oct 2020 04:07 PM PDT I bought a newer used car from a reputable dealership with crazy low miles on it. This was the first car I've ever bought that wasn't junk and it's my first time working with a dealership. I spent a lot of time on this sub reading about things I needed to do and ways to negotiate. I went in as prepared as I could be. This was not a janky used car dealer either. This was a legit dealer that has been around for a long time. They used to be a Chevy dealer and now they're a Honda dealer but the name has stayed the same. Not sure if that matters. The salesperson was great but the finance guy wasn't the best. He kept us waiting almost an hour before seeing us because he and the manager couldn't find the title for the car. He got a little pushy in his sales pitch for different tiered packages the dealership offered and actually made it sound like I had to chose one (I didn't) until I flat out asked him, "do I HAVE to choose a package?" to which he said "no". I told him I wasn't interested and he started his spiel over trying to sell me a warranty package (the vehicle was still under 3 year bumper2bumper warranty and 6yr/60k warranty). He even got pushy when I declined the GAP insurance as well (I don't need dealership gap insurance on a vehicle with 3 years of depreciation). A couple days later I realized he double charged me for my down payment. So my bank account got hit hard. Thankfully I had money from my 3 month efund to cover it until one of the charges got reversed. It's been a month now and I received a voicemail from the same finance guy at the dealership telling me I haven't received a statement yet because the lending bank declined the contract due to a small error and that I need to come in with my wife and sign a new contract. Nothing besides "the numbers haven't changed" is being told to me over the phone. I'm sure the situation is most likely due to a mistake on this guy's part but is there something I should be worried about? Something to look for? Am I able to renegotiate a lower price for the vehicle or give them vehicle back (not that I'd want to)? My wife and I are both crazy busy people with 2 jobs each and both of us being off work at the same time early enough to go to the dealership and resign a contract will be extremely inconvenient. What happens if I just never go back in (I know this is a bad idea but just curious)? EDIT: Just to clarify, I DO have the title, it's in my name, AND the vehicle is registered with my State's DMV under my name. Whether this is normal or a comedy of errors is unknown to me but it seems like many of you are saying I should not have the title without a lien already setup. Idk anything about that but I absolutely have the title. Not sure if this changes things for me or not. [link] [comments]  |
| Bank sold my mortgage and the new bank can't find me on their system. Posted: 11 Oct 2020 06:16 AM PDT I'm selling my house in less than a month. The company just sold it this month and I've tried to get account info from the new bank (and I still have to pay this month's mortgage). What happens if they can't find it? What do I do? Tried posting on r/homeloans but it wouldn't let me post. [link] [comments]  |
| (US) Buying A Home; Employer May Relocate At Any Time Posted: 11 Oct 2020 11:00 AM PDT Minnesota - USA. Does anyone have any good advice for someone thinking about buying a home but their employer may force a relocation at any time? My situation - I plan to live/work with my employer for the next 10 years. All the articles that I read note that if you're staying put for 10 years, then consider buying a home. I have lived/worked here for 9 years. The catch is that my employer may force a relocation at any time. No other employers in my area would be similar pay grade or specialization....I would have to relocate. Assume:
Should I delay the purchase of a home for the relocation risk? Or, is this just me getting cold feet? [link] [comments]  |
| Student Loans | Income Based Repayment Plan | Marital Status at Tax Filing or At Application Posted: 11 Oct 2020 07:07 PM PDT I am a recently graduated medical student (lot's of loans, unfortunately) and I am applying for the income based repayment plan based. I just got married to my spouse and am unsure of what my official marital status is that should be used for the IBRP. When applying, they ask for the taxable income from the last tax filing (very, very little) and marital status. Is that marital status what I was when I filed, or what it is currently? Thanks for the clarification if you know! [link] [comments]  |
| What is the wisest way to handle my extra unemployment money? Posted: 11 Oct 2020 01:20 PM PDT I was laid off from a part time job this May due to COVID, and have been collecting unemployment since. I am a college student currently doing remote classes and living with family rent-free. I don't have many expenses at this time and have been wondering if I should invest this money, and if so, what the best course of action is. I have between 5000 and 8000 dollars to work with. I've seen people raving about IRAs all over Reddit but it seems I can't invest unemployment money into that, as it's not considered earned income. I currently know very little on these things, and would appreciate anything you think I should know and are willing to share. Thank you. [link] [comments]  |
| Posted: 11 Oct 2020 06:45 PM PDT Currently making $3550 a month after taxes and my monthly bills add up to $1100 which includes rent (I live alone in a 1 bedroom no roommates). I started a Roth IRA this year and contributed $6000, which I'm hoping to max out every year from now. Not really looking to save for a home as it's extremely expensive in LA. [link] [comments]  |
| First career job out of college, how do I put my earnings to maximum benefit? Posted: 11 Oct 2020 11:45 AM PDT Recently landed a job as a Junior Software Developer in Central Iowa, making 25/hr with full medical/dental. (I need to choose between HSA or HMO @450/month, not sure which to do). The company does 5% match of IRA and 401k contributions as well. I have about 70k in total debt, own a semi decent car, pay about 800/month living expenses, no real savings to speak of. I want to be smart with my money to achieve a debt free status primarily, but also plan for the future and make my money work for me. Any and all advice is welcome! [link] [comments]  |
| Posted: 11 Oct 2020 06:12 PM PDT My husband and I have been trying to diy remodel our house for years, we are finally giving up and would rather just pay someone to do it. With rates as low as they are, we were thinking about cash out refinancing for $20k since we have a good deal of equity in the house (Probably about 100k based on last appraisal a few years ago). I refinanced about 3 years ago but kind of blindly did it with the mortgage broker I used to buy the house. Any tips for doing this again? Or should I do this again? I know there's also the Home Equity Line fo Credit option, but I heard that can be harder to score a good deal on. (That's what my lender told me last time) [link] [comments]  |
| Refinancing to add household liquidity Posted: 11 Oct 2020 06:09 PM PDT We are considering refinancing from our current mortgage (25 years left at 3.75%) to a 30 year mortgage (2.99%). I have worked through the numbers from our approved application and am seeing the following: Our monthly payment would go down 150$ a month (with 60 extra monthly payments of course). We would be paying approximately 75$ less equity into the house each month. Our equity would go down by approximately 4k (to cover the mortgage costs). At closing we would not owe more than a trivial amount (~100$). There are no extra costs (appraisal would be waived). Other information: We do not plan on moving out of our house and have approximately 50k of equity in the house if we had to. We do not have any debt and have good credit. Our house is worth approximately 2.5x our income. Our remaining mortgage balance is roughly 1.8x our income. Our reason for refinancing would be to extract extra liquidity each month which we would most likely invest. Over the long run, we would hope to have a higher return rate than 3%. This would also become part of our emergency fund. We would also consider putting some of the money into a roth IRA after we are comfortable with the amount in our emergency fund (we currently contribute around 10% of our income into our regular ira accounts). Does this seem like a reasonable approach? Thank you! [link] [comments]  |
| Aunt wants help with finances, insists I get a middle name for added security? Posted: 11 Oct 2020 11:20 AM PDT Hi, My Aunt is getting really old and wants me to help out managing finances. She mentioned possible power of attorney. She REALLY insists I change my name and add a middle name so refer to me with a middle initial. I was wondering a few things...
Truly appreciate any assistance! :sharebeer :beer [link] [comments]  |
| Am I able to pay off a 5 year car loan in 2 years ? Posted: 11 Oct 2020 11:03 AM PDT Do I only have pay the car payment in the amount specified in the loan or am Can I pay it off 3 years earlier than the 5 years? [link] [comments]  |
| Left Company Before Vesting Cliff, 401K Shows Fully Vested? Posted: 11 Oct 2020 04:40 PM PDT Hello, I have quite an interesting situation... hopefully I make sense here: Was working for a start-up that was backed by a major financial firm. I left the company after 10 months and the vesting cliff for 401K and Sign-On bonus was 18 months... The thing is, a few weeks after I left, it was made public that the start-up was going to be put on "run off" which basically means "Company XYZ is cutting their funding and we will shut our doors unless someone buys us in a few weeks." (They ended up shutting down 4 weeks after I resigned. Good timing I guess.) Part of my agreement was that I need to pay back my Sign On bonus since I left before 18 months, and so I wrote a check for the $10K sign on bonus. It sat for 3 months and has yet to be cashed by my former employer (was sent by my bank back in April...) I also noticed my 401K portfolio is now 100% fully vested (a few months ago I still had funds that weren't vested and figured the employer match would be pulled sooner or later.) It's now been over 6 months since I left the company, and 5 months since the company has closed their doors. No one has contacted me about the Sign On bonus check that I cancelled (ended up recently canceling the check after a few months of it not being cashed and no correspondence from former employer.) Is it also safe to assume these 401K matched contributions are now mine to keep/fully vested? If not, why would Fidelity show my account as 100% fully vested? Real weird situation. TLDR: Left company before vesting cliff. Company ended up closing shop 4 weeks after I resigned. 401K shows 100% vested, even with employer matching contributions. Also, no one inquiring about Sign On Bonus check that has been cancelled for several months. [link] [comments]  |
| No contact with cosigner. I've made all the payments. How can I sell the vehicle? Posted: 11 Oct 2020 07:56 AM PDT I have a 0% interest loan on a vehicle i got a few years ago that's nearing it's pay off date. In order to get this rate I had to use a cosigner, whom now I have no contact with or any way to contact. My loan provider is telling me the cosigners name will be included on the title and he would need to sign off in order for it to be sold. I have made all payments and the cosigner had no part other than achieving a better lending rate. I had the money in cash ready to pay but he offered to co sign in order for me to re invest my cash. No banks will refinance me because I have less than $2000 remaining to pay and a 0% interest rate already. Any advice on how to legally go about having the title put solely into my name would be appreciated [link] [comments]  |
| Is doing a gap year/delaying enrollment into a school for better financial aid unheard of? Posted: 11 Oct 2020 03:02 PM PDT Long story short, there is a huge discrepancy in my parents' income from 2019 to 2020 due to them selling a huge chunk of stock. Because of this, my FAFSA EFC is a lot higher than what it would have been had they not sold that chunk of stock. My question is, if I can't appeal this through my college when the time comes, would it be possible for me to take a gap year/delay enrollment and then come back with a better financial aid package? [link] [comments]  |
| Worth it to trade in Car with existing loan? Posted: 11 Oct 2020 07:30 PM PDT I have a POS 2011 Hyundai Elantra Touring with ~112,000 miles as of right now. I got it in 2019 with a whopping 18.9% APR from a blood thirsty dealership. KBB put the value at ~2,500$. I currently have about $7,000 left on the loan. I've paid off what I got the car for, now is just interest. I'm getting a new job this month and have to travel 45min to and from work daily, and I'm anxious my current car won't survive it. I want to trade it in, as I know dealerships will pay off your loan or incorporate your existing loan into the new loan on your new car. My credit SUCKS right now, little below 600 at this moment in time. Does anyone have any experiences similar to this, any tips or tricks or advice? I'm not paying more than "wearable" replacements on my car, i.e brakes, oil changes, headlights, tires etc. It wouldn't be worth it for me to fork over the eventual money to fix the transmission or the clutch when they go. Any advice at all would be super helpful and informative! [link] [comments]  |
| Is my bank BSing me about overdraft protection? Posted: 11 Oct 2020 02:01 PM PDT Hello all, I had a frustrating experience recently where a paycheck got delayed, and an auto draft popped me into the negatives. Then, my bank charged me an overdraft "protection" fee. I went into the bank to appeal the fee as this was my first time going under, and they waived it. Then, I requested to end overdraft protection, because if I'm that close to negative, I'd rather my payments just get declined than accrue bank fees. However, my bank told me that I would still get charged by the vendor without overdraft protection, except they'd hit me with a fee as well as the bank. I asked them to clear that up, using a very simple example: "If I have $10 in my bank account, then buy $20 on my debit card, you're saying that not only will the charge go through, (bringing me to -$10), you're saying that the vendor will penalize me as well as the bank's $35 overdraft protection fee? (bringing me even further negative)." They said yes, this was the case. But that seems incorrect! I've always viewed overdraft protection as less of a useful tool and more of an incentive to spend with less scrutiny. I'd rather be temporarily embarrassed by a declined card than smacked with $35 in fees! But, the bank says the card wouldn't be declined, and their protection stops me from getting double fined. Am I on crazy pills, or are they taking me for a ride? [link] [comments]  |
| Want to give scholarship to 5 students at community college. Posted: 11 Oct 2020 06:45 PM PDT I want to set up scholarship fund for community college I attended for about 5000 to start off. What are the tax implications for something like this and how should I set this up, do I need to get LLC or apply for anything special? [link] [comments]  |
| Posted: 11 Oct 2020 06:29 PM PDT I'm 23 and about to buy a car off of Facebook marketplace for fairly cheap. But I've seriously never owned a car. Once I purchase it, what else do I have to do? Like I know you have to "register" it, but I have no idea how to do anything. No one ever really told me anything. Since I imagine getting it registered means going to some particular place, does that mean I should pick the car up earlier in the day? Do you have to make appointments for stuff like that? [link] [comments]  |
| How to Decide Which CC Company to add my sibilings? Posted: 11 Oct 2020 06:24 PM PDT I have 2 Credit Cards; one from Discover and the other from American Express. On the Discover Card I have a limit of $2,400, and $2,000 on the American Express. I am 19 years old and am very financially responsible. I opened my Discover account as soon as I turned 18 last August and have made consecutive, on-time payments without fail. I then opened the American Express account past February, and likewise have made consistent payments. On Credit Karma, I have a credit score of 740 composed of both of these accounts. On both of these accounts I am able to add authorized users in order to get a card with their name on it to help them build credit. In my case, I have 4 siblings. The oldest is my 18 year old brother. The other 3 are minors but old enough for me to add them. My question is, on which account do I add them? Does it matter? Whichever one I do add them to, I won't give them their card yet; I'll simply just keep it safe in a drawer and help build them credit. And for my recently-turned 18 year old brother, I already have him as an authorized user on my Discover account, but was wondering if it is better to have him open his own account or keep him on mine for the time being. he has no need for a CC as his debit card is sufficient. All of this is in terms of building credit, as far as spending goes, that is not a concern. Thank you for reading and any help/advice/answers are appreciated. [link] [comments]  |
| New job, what to do with my 401k? Posted: 11 Oct 2020 06:16 PM PDT I started a 401k at my first job in 2016. It started as traditional but I switched it to Roth after like a month, contributing between 10-15% for 4 years. A couple years ago I also opened a Roth IRA which I've been maxing out every year. Both the 401k and IRA are just like generic retirement plan index funds, I don't manually select my investments or anything (maybe when I learn more). I started a new job in September and I'm not sure what to do with the 401k. My new employer does not have a 401k plan. What they do have is a SEP IRA which they will contribute 15% of my salary to per year (this start after 3 months on the job so I don't have it set up yet). Based on my limited knowledge I was thinking of just rolling my 401k over into my Roth IRA. It seems like even though my 401k has a slight mix of traditional and Roth I will be able to roll the whole thing into my Roth IRA, and just have to pay taxes on the traditional portion? Does this seem like a good idea? Both my 401k and IRA are with Fidelity. Thanks for any advice. [link] [comments]  |
| Question about reading material Posted: 11 Oct 2020 06:13 PM PDT Before finding this sub and looking over the suggested reading I purchased The Intelligent Investor by Graham and a couple books by Fisher. Looking through recommended reading by admin here none of these books or authors are listed. Are these authors and their writings still relevant and worth the read? TIA. [link] [comments]  |
| What to do with balance in pension plan after leaving job? Posted: 11 Oct 2020 10:35 AM PDT Hi, My first job offered a generous pension plan, and I was there long enough for it to vest. I have about $12,000 in the plan, and I'm wondering whether it's wiser to cash it out now and invest it myself, or leave it in the plan until retirement.
I think it's clear I should take the lump sum (either now or at retirement). The annuity ceases upon my death and doesn't gain interest once it begins paying out, so I think I and my future beneficiaries stand to lose the most with that plan. My question is whether it's better to take the lump sum now, and invest on my own, or wait until retirement? Some thoughts:
Thanks! [link] [comments]  |
| Posted: 11 Oct 2020 05:17 PM PDT A drunk driver hit my parked car outside my house. He tried to drive off but his vehicle broke down not to far away. We were able to get his attempt to flee on video and the cops came to deal with him. As of now, they haven't charged him with drunk driving because he was out of the car when they came... My question, we recently moved to this state and haven't updated our insurance yet to reflect the move. Does anyone see this being an issue? We are military and recently PCSd and just simply forgot/hadn't done it yet. The police gave me the driver's insurance info and the case # etc. [link] [comments]  |
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