Buy a car, then a year or more later, because I've neglected the car/not looked after it and it's just not worth what it was back when I got it, approach the finance company and say "I think I've paid enough for that car, it was overvalued, I'm not going to make any more repayments".
The first Falcon we bought devalued much quicker than expected, due to their being a flood of that particular model onto the market following the collapse of one of the Ford dealers here in Perth (this was a number of years ago).
Maybe we should have tried the above on the finance company back then (not that we hadn't looked after the car in that instance)?
I have a good idea as to the reaction we would have received!
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2 comments:
Lol!! At least you bought a Falcon and not a Mitsubishi!!!
... it makes me cry how much I lost :(
I can really sympathize with you on this subject. All of the new cars I've bought have lost their value immediately, I lost my desire to keep them up, they turned to crap.
Oddly, the used cars I've bought, I've kept up and they are worth either more than I owe or more than I originally paid.
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