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281 Posts
Discussion Starter · #21 ·
"$7,000 off MSRP. Since she didn't have the greatest credit we put the whole thing in my name (NEVER EVER EVER EVER EVER DO THIS!!!!) and were going to refinance when we got married and put her name on it too. We leave the dealership with a new car and $550/mo payments for 6 years."

I cannot even imagine what kind of rate you got. It would take some creative financing to get an explorer for $7000 off MSRP and have monthly payments that high for 6 years. Your payments equal $39600. Wow.
MSRP was like $35,000 I think. It was loaded. Rate was 7.24%. Also bought stuff on the back end. Extended warranty (it was a Ford), maintenance contract, gap, the goo (I know....). But I did just get a check for a $1000 for cancelling all of that stuff.

1,374 Posts
If you ask me, there are a lot of financially questionable decisions here (I know you didn't ask but you did start a thread on this subject):
  1. Buying a new vehicle before any new income came in :confused:
  2. Co-signing someone elses car loan :confused: :confused: :confused:
  3. Financing a vehicle for six years :confused: :confused:
  4. Thinking that the ex-girlfriend could get it refinanced even though you must have known she was upside-down and would have to come up with some cash :confused:
  5. Letting your new girlfriend convince you get a new truck simply because she didn't like who owned it before. :confused:
  6. Buying a new Tundra to solve the financial problem :confused: :confused: :confused:
Sorry, guy, but I think there are a lot of morals to this story. :eek:

YUP! The real moral to the story... DON'T BUY A FORD EXPLODER! :D
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