A young friend of mine , age 18 at the time this all started. He
purchaced a pick up truck from a local car dealer. He had driven
the truck just a few short months, when he wrecked the truck,do to road conditions. After the truck was repaired he decided to trade the truck off, fear of having tire problems. Traded the truck for another which was newer but still affordable. Drove this truck for about a week and decided to trade this truck,for a more expensive one.
Now this where the problem begins. The same car dealer convinced him he could afford this newer truck. Which there is no way this was true. The monthly payments on the first two trucks was between $230.00 and $240.00 a month. the new payment would have been about $600.00. Keep in mind that this kid only made $7.00 an hour, working part time at Taco Bell. Even with the other two loans he was allways borring money for his insurance from his mother.
HE then managed to get out of that mess, but the same dealer sold him a truck with payment of $450.00 a month. Durring all of these transactions there was cost applied to each loan, from the previous one.
I know he was of age, however i feel that he was scamed by the
car dealer and the loan person at the bank. Wihch by the way,are
husband and wife, they also reposes.