The first point is that very few people out there in the current system can walk into a dealership and say: Here is the money I want this car!" and have the car paid in full up front. Chances are you and I and most living (I will refer to the States here because that is where I live and that is what I am familiar with) here will not have the immediate cash to purchase such expensive items. As a person living in the US, I am required to have a form of transportation that is not the bus or train. I live in a suburban area that requires me to have a car to get around to work and shops and ya know the usual palaces. It is difficult to share a car with someone because we all know we got different schedules and of course it becomes a point of dependency and it is time consuming.
So how does one build credit history? One would have to start with a credit card. Chances are this first credit card will be at a horrible interest rate and the money given will be not of a large amount. I started off with 500 bucks available credit. Also I had to use the card in order to actually begin building the credit. Well after awhile all of the sudden I became "wanted". All those credit card offers in the mail were insane. Then of course as a student I needed money for this and for that....so I opened a few other credit cards. Then came the day that I had to purchase my own car, first as a co-signer, later on my own name. So I had quite a few open credit out there and it kept getting bigger as what I made per month was less than what I needed per month. Of course there were unexpected emergencies and other things that came up and required money.
Money, Money, Money! A fucked up story within this current money system we accept and allow for ourselves.
One day, about 5 years ago, a "friend" came to me and asked me for help. She had a situation where her credit score got so messed up that she couldn't finance a car. So (back then I was naive and believed in friendships and had not the slightest idea of how credit history works and what it meant to put my name on the line for someone else that I apparently can trust). When we went to purchase the car, I became the primary owner of the "her" car. I signed those papers with the black ink, agreeing to pay for the next 7 years. I had no emotional reactions, no fears...and also no experience with how fucked up this decision was....I was helping a friend in need, I trusted her.
Well time passed and for various reasons we stopped talking so the only link to her was the car. She had missed, late payments. I got the letters in the mail, there were plenty of discussions with her. I knew it was not her fault directly that she could not afford the payments but the responsibility stood, because that was the reality. And in those terms I cannot blame her, but accept the responsibility for accepting and allowing to be the primary owner of the car. I also am playing out the consequences of not doing something about it earlier, but letting her slide it off.
Today, I went to purchase a new car for myself, and I got denied the finance because of my credit score which is now destroyed. And then I was told that if that other car gets repossessed, then my chances of getting any kind of loan for a long time will be none.
I find myself in a sticky situation, because the car I have right now needs new tires, spends a ton of gas (also something I did not consider when buying due to lack of experience) and has a higher payment that I would like it to be. There has obviously been and will be some changes to come with my pregnancy and baby on the way. I was making my way for future references money wise and now because of the credit score I am not able to do this on my own. Luckily, my dad is by my side to assist me with what ever he can. I am grateful for his support as now he is to put his name on the line for me. However I know better, then to "fuck" him over in the same manner that I have been. If everything works fine I should have a gas efficient and reasonable payment car within next week. And my next step is to insist that my name be taken off my "friend's" car so that I can start building my credit back up. This is will my part of accepting responsibility for my lousy action back in the day and correcting myself. Lesson here is, do not ever cosign or put your name on the line for people that are not reliable, or proven themselves to be reliable. It is a risk, so unless I am prepare to take the fall (which I definitely was not) then it is not in the best interest of both parties to be done. There is more to saying: "this person is my friend and they need help", there is a responsibility being taken, an agreement between two people, and if one person is not doing their part, then the agreement is obviously not being held up. With most people I can never know since they are not practicing any form of self correction to know that the accepted responsibility will have the according consequences. In my case, I should not have sign those papers knowing that if she is NOT able to pay...then I cannot pay it either.
The more fucked up part however is this system. I keep wondering, what if everyone had the cash to just go in and say" here is the cash, I want this car". That would never be possible within this system. And again just like all my other blogs here that speak about money and this system.....I have no doubt in myself that the solution is with the Equal Money System. So much bullshit can simply vanish, so much abuse will simply vanish. People are greedy for money because we have created ourselves to be this way, because we live in a greedy money system world. I mean I can see this trait in myself...from the perspective that I want to buy the car at the least price possible...and they want to sell me the car at the highest price possible. That makes sense in this money system...I mean of course i would want the discount, of course I would want to pay less....and of course they would want to get the higher incentive of selling me the car. This shit of messed up. I have no other option but to be this way within the current system. I don't want to...but I have to. It is a point of survival, just like everything else within this greedy money system. I would love for everyone to have the chance to walk in and put the cash down. That would be a awesome day! NO hassles, no bargaining. You get what you pay for and most importantly NO credit bullshit required! There will be a whole new meaning to the word BANK!
So YES I am one vote for an equal money system...til this shit is done!
http://wiki.destonians.com/Main_Page
(who we are, what we do)
http://desteni.org/
(investigate topics of interests and self)
http://equalmoney.org/
(place your vote for Equal Money System)
http://eqafe.com/ (purchase
products and support Equal Money System)
No comments:
Post a Comment