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General Category => General Discussion => Topic started by: theking on October 11, 2024, 12:57:55 AM

Title: 27 years? Bet his FICO's bad as 67% is bad enough for a deal w/ the Devil indeed
Post by: theking on October 11, 2024, 12:57:55 AM

‘Deal with the devil’: Texas man locks in 67% APR on BMW loan, paying $590/month for 27 years

Mr. David traveled from San Antonio to Houston, Texas to sell his soul for a white BMW, or at least that’s how his car dealer described the transaction on TikTok.

After making a $1,000 down payment, David agreed to pay dealer Jo the Car Plug $590 per month for 27 years. In total, David will ultimately pay $191,000 for the vehicle.
(https://s.yimg.com/ny/api/res/1.2/VSwHK0iuDl_F_iIj_He8Ow--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQyNztjZj13ZWJw/https://media.zenfs.com/en/moneywise_327/760fcdb580e053c061195543d2d74969)

Title: Re: 27 years? Bet his FICO's bad as 67% is bad enough for a deal w/ the Devil indeed
Post by: theking on October 15, 2024, 02:08:46 AM

Yep and that Beemer is not even special except to him??

It's a 530 and has about 300k miles on the ODO already.. :o

Title: Re: 27 years? Bet his FICO's bad as 67% is bad enough for a deal w/ the Devil indeed
Post by: theking on October 15, 2024, 02:09:51 AM

Quote

One person who did the math realized that the customer would end up owing $192,750 based on the deal he had made. This would be a bad payment plan since a brand new 530i BMW has a starting price of $58,200.

“Bro bought a house,” the commenter remarked.

Another remarked on the timeframe of the deal, saying, “That’s 27 years … that car won’t even make it that long my guy!”

“It’s obviously a joke. No bmw has that high mileage,” said another.