Sunday, February 08, 2009

Knowing When to Say When

Have you ever owned an older car that really isn't worth anything except to you. You know, it has been there for you for a long time. You have always taken the best care of it. At least, as good as you could because it got you through those hard times as well.
Suddenly out of the blue, the dreaded event happened. The engine went, the transmission went, the whatever and it was going to cost you big. The mechanic tells you it is going to cost several thousand dollars to fix it. He also tells you that it really isn't worth anything, but if you want it fixed he is willing to take it on. It might take a little longer because they don't make most of the parts any more. It may even cost more to get some of them so you may need to be a little flexible on the end cost as well. Then he tosses in the final dagger, if I can't find the parts it may simply not be fixable and you could be out a lot for time and materials. Do you still want to move ahead?

Your probably already in a fair amount of debt. Are you willing to take out a major loan to fix your car? You may have to one of those high cost credit places........ How will you make the payments?

It's your decision...........

What if someone was willing to make the decision for you at no cost to them and stick you with this huge debt for a small additional fee. Does that make it any easier? They give you the paperwork to sign and you notice the fees and interest raise the price to almost five times what the mechanic quoted you but you have over 30 years to pay it off. You can even pass the debt on to your children.

If you like this method then your going to love the Stimulus plan in Congress right now.

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3 Comments:

Anonymous JMB said...

I hope that you will excuse me personally for not even daring to speculate, but dose anybody out there currently know what kind, and how many, new federal mandates are to be attached to all this free money.
You know its one thing to be enticing our communities to become recklessly wasteful, but it becomes another thing when you force them to then do it your way.

4:36 AM, February 08, 2009  
Anonymous ablur said...

Just like any contract the devil is in the fine print. It will be a sign here and read it later deal that makes it even worse.

5:54 AM, February 08, 2009  
Blogger Throwing Stones said...

Amen brother, keep on telling it like it is!

8:30 AM, February 08, 2009  

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