It is harder than ever to come out of poverty. My step father is a living example of this. He went out to buy a truck, car or anything possible after his car breaking down. I went along and was amazed at the difference credit makes.

We started shopping early in the morning. I went along to give him a ride and some advice. He was eager to get a new ride. Dealership after dealership turned him down. Finally, after six dealerships we found someone willing to finance him.

The problem, the dealership picked out the truck, (a Ford Ranger), told him the price and was asking for a huge down payment. I didn’t like this gig at all.

First the sales rep ask him to fill out a credit application before he even looked at a car. I ask him why? He said his manager wanted to know if he was serious before looking around and wasting his time. I told him we was seriuos or we wouldn’t be here. Either way my father in law gave in.

Second of all the sales rep came back and said he could get him approved with only one vehicle in the whole car lot. I thought this was very shady as well. But my father in law insisted on getting it.

Third the price, payment and down payment was outrageous. They wanted him to put $2500 down and pay $580 a month for 66 months. This seemed unreal. I only pay $499 for my 2007 Lexus RX 400h AWD Sport Utility Vehicle which retails for 42,500. I have a lease option and had to put $1624 down. Compare this to the Ford Ranger which retailed for $14,500. Is this fair?

I can buy a car that retails 3 times more than someone with bad credit for the same or less payment. No wonder why the rich get richer and the poor poorer. I hate this.

This is just unfair. People with bad credit can’t look at cars before submitting an application. I guess this is so they will not waste the managers valuable time, they need to be sitting in their office doing nothing. This may be part of the reason car companies are crashing in sales. 

I have convinced him not to take this deal after all. He wanted the truck real bad but he promised me he would ask his mom to finance the purchase before buying. This could save him a lot of money and give him more choices for his vehicle. I know in the long run he will be happier that he didn’t jump into this ride. Please be cautious before getting ripped off if you have bad credit. There are options and people out there that may can help you. Be smart and try to keep a good credit score.

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