This Is A Financial Nightmare
This is a financial nightmare. We talked about this on the air this morning. Imagine having to go through this.
Last fall, Dr. Lynne Danali, a chiropractor in Forest Park, Georgia, traded in her two cars for a new Jeep Grand Wagoneer. She did it because the Wagoneer gave she and her family things they didn’t have with the other two cars. More space. A little luxury and a little more power.
Great! Right? Well…
Things went goofy when she tried to deal with the check the dealership gave her for the trade-ins. It bounced. As did the NEXT SEVEN checks the dealership gave her.
Financial Mistakes
The new General Manager at the dealership confirmed the bad checks, saying that his was a processing error at the corporate level.
But because of the “processing error” Dr. Danali has been having to make THREE car payments. Her two older cars and her new one. It’s been a struggle. So much so that she missed one of the payments by 30 days and that impacted her credit score…. Resulting in a financial nightmare
The dealership figured out that it owed her $2,811 to reimburse her for the additional payments and returned check fees, but they’ve suggested settling the matter for $5,000.
Again, financial nightmare.
Georgia Laws On Trade-Ins
Here are some things you might not know regarding this story. In Georgia, if there’s a problem with a car’s trade loan payoff, the owner MUST continue making monthly payment and paying the insurance premiums until the payoff is complete.
Also, there is NO Georgia law requiring car dealers to pay off a trade-in in a certain amount of time, and until there is, the owner of the car(s) is responsible for keeping the loan(s) current.
Some tips are, plan on putting an additional payment aside for the trade-in, and DO NOT cancel the insurance until the dealership pays the balance in full. Also, keep records, including e-mails and if you have to dispute it, contact ALL THREE credit bureaus. Finally, they say, demand that the dealership in give a loan payoff date, in writing.
What a nightmare.
Is Your Teen 'Road Ready?'
Passengers
In a study evaluated by the NHTSA, teen drivers were two-and-a-half times more likely to engage in risky behaviors when driving with just one teenage peer vs driving alone. From there the risk of a fatal crash goes up in direct relation to the number of teenagers in the car. This is the reason each state restricts the number and type of passengers a beginner driver is allowed to carry; stick to these laws no matter how long -or short – the trip is. Set driving ground rules with your teen and explain the consequences for breaking them; put it in writing and enforce it!Buckle up – it’s not only the law in every state, it’s lifesaving advice.
51% of the teen drivers who died in 2021 were unbuckled. Sadly, passengers follow their example; when a teen driver involved in a fatal accident wasn’t wearing a seatbelt, nine out of ten passengers who died were also unbuckled. This lesson has to start when they are very young; teach your kids to buckle up as soon as they graduate from a car seat. The NHTSA lists distraction, comfort and a false sense of safety as the main reasons kids ride beltless. A child distracted by games or snacking may just forget to buckle, so keep reminding them. Uncomfortable seatbelts may be an indication your child isn’t ready to leave their booster seat. Many kids – and adults – think they don’t need a belt on a short trip or at reduced speeds, but in fact, most fatal crashes happen within 25 miles of home and at speeds of less than 40 miles per hour. Their most important advice, buckle up yourself. When parents and caregivers fail to fasten their belt, children are less likely to wear theirs.Drowsy Driving
Studying, part-time jobs and extracurricular activities can impact your kid’s bedtime routine. A sleep deprived teen driver is an impaired teen driver. Drowsiness affects alertness, reaction time and judgement. Drivers 17-23 years old, those who sleep less than six hours a night, who drive on rural roads or who drive after midnight are at the highest risk of an accident. Make sure your teen gets a good night’s sleep, monitor their driving after dark and pay attention to your state’s restrictions for nighttime driving.Distracted Driving
An inexperienced teen can’t afford any distractions. According to the NHTSA, dialing a phone increases a teen’s risk of crashing by six! Texting increases the risk 23 times over. It’s not just smart devices causing distractions. Loud music can prevent a driver from hearing an approaching emergency vehicle or another driver’s warning horn. A teen late for school may try to make up time by fixing their hair, downing a breakfast sandwich or cup of coffee or applying lipstick while driving. Anything that takes their focus off the road – and that includes hands-free devices – reduces their ability to react to a sudden stop in front of them, a pothole or a patch of ice. Teach by example, make driving your number one priority when behind the wheel.Hands on the Wheel
A tire blows out, a car drifts into their lane, a child or pet runs in front of the car or they hit black ice. All of these road emergencies require quick reactions and total control of the vehicle. Today driving instructors recommend holding the steering wheel at the 9-o-clock and 3-o-clock position — opposite sides of the wheel halfway up. This hand position allows good control over the wheel while reducing the risk of injury from the airbag in a crash. A bonus to proper placement, hands that are on the wheel aren’t texting, eating or applying make-up!Shoes Make a Difference
Believe it or not footwear is the cause of around 16,000 crashes each year! (NHTSA) Drivers of all ages should be aware of ‘pedal error’ – a high heel caught under the brake or accelerator, a slippery dress shoe sole sliding off the clutch or a chunky wedge catching both pedals at once. Flip Flops are hard to keep on while walking, image one falling off between the pedals at 60 miles per hour? Go shoeless? Sweaty feet can slide off as well and, if you are involved in an accident, shoes protect your feet from glass and debris when you get out to inspect the damage. Thin soled shoes are the best choice for driving, keep a pair in the car to slip on before starting up.Keep your hands on the wheel and eyes on the road - your kids are watching you.
Driving this lesson home, the best thing you can do as a parent is to be a good role model. Set an example for them and practice safe driving by wearing that seat belt, putting down the phone, being courteous to other drivers and obeying all the laws.
