Yay! Nobody Cares about Tickle Me Elmo Musk

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Innula Zenovka

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I can't tell if this is a parody or not.

 

Innula Zenovka

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I can't tell if this is a parody or not.

Unfortunately, not all new car and truck dealers are honest. David Wright found out the hard way.
 

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Yeah but like, thats not how that works. Your loan doesn't go away just because you traded in the car you bought with the loan. Those are two seperate things a loan and a car (bought using money from a loan).
 
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Yeah but like, thats not how that works. Your loan doesn't go away just because you traded in the car you bought with the loan. Those are two seperate things a loan and a car (bought using money from a loan).
I read a newspaper story many years ago about the same kind of situation. It's unfortunately not uncommon.
 

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There are two kinds of Tesla owners: BTC and ATC.




(Before Thailand Cave and After Thailand Cave)
 

Innula Zenovka

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Elmer is also interesting himself in UK politics, campaigning on behalf of Nigel Farage's Reform Party


Though this thread suggests he misunderstands British politics and doesn't realise that Farage is trying to distance himself from Stephen Yaxley-Lennon (AKA Tommy Robinson) and his fascist hooligans, whom Elmo also supports.

 

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Yeah but like, thats not how that works. Your loan doesn't go away just because you traded in the car you bought with the loan. Those are two seperate things a loan and a car (bought using money from a loan).
I think the way it was supposed to work is this: Guy trades in his old vehicle. The amount the vehicle is worth (usually KBB value) is deducted from the price of the new vehicle. Anything guy still owes on the old vehicle beyond the trade-in value is rolled onto the new vehicle loan balance, and the dealer fully pays off guy's old loan.
 

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I think the way it was supposed to work is this: Guy trades in his old vehicle. The amount the vehicle is worth (usually KBB value) is deducted from the price of the new vehicle. Anything guy still owes on the old vehicle beyond the trade-in value is rolled onto the new vehicle loan balance, and the dealer fully pays off guy's old loan.
I could see that maybe.

I have to admit, Inhave never actually traded a vehicle for a replacement one. The previous vehicle is usually dead from an accident or age or whatever. Also we always just pay cash and not get loans.
 

Casey Pelous

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I could see that maybe.

I have to admit, Inhave never actually traded a vehicle for a replacement one. The previous vehicle is usually dead from an accident or age or whatever. Also we always just pay cash and not get loans.
I thought this story was about some dude who didn't understand that he was what dealers call "upside down" in his truck* -- that he owed more than it was worth as a trade-in. Nope. Here's the quote from way down in the story that gives away what's happening:

Michael Winding, owner of Winding Chevrolet GMC, said that the new vehicles had been moved because they are in the process of changing out GM Financial as their floor plan loan company.
LOL! There's no "changing out GM Financial" as their flooring company as long as they are a GM dealer! Allow me to translate: "Flooring" is the payment the dealership makes to the manufacturer while they have the car "on the floor." It's the main way GM makes money on cars, since the margin on new cars is skinny as hell. In other words, the dealership has gone broke.

Michael Winding reminds me of poor old Jerry Lundegard in Fargo who was going to "just fax the paperwork over to ya." That man who kept demanding the real paper not the fax was working for the flooring company.

* Also known as "having a firm grip on his vehicle."
 
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Innula Zenovka

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I thought this story was about some dude who didn't understand that he was what dealers call "upside down" in his truck* -- that he owed more than it was worth as a trade-in. Nope. Here's the quote from way down in the story that gives away what's happening:



LOL! There's no "changing out GM Financial" as their flooring company as long as they are a GM dealer! Allow me to translate: "Flooring" is the payment the dealership makes to the manufacturer while they have the car "on the floor." It's the main way GM makes money on cars, since the margin on new cars is skinny as hell. In other words, the dealership has gone broke.

Michael Winding reminds me of poor old Jerry Lundegard in Fargo who was going to "just fax the paperwork over to ya." That man who kept demanding the real paper not the fax was working for the flooring company.

* Also known as "having a firm grip on his vehicle."
That's what I assumed from the story, too, when it transpired, after problems with the bank because "our account was hacked", that the lot was empty and all the vehicles had gone. The dealer had done a runner.
 

Innula Zenovka

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A plausible theory

 

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