Friday, November 7, 2008

Sometimes Being a Grown-Up Sucks!

So would you like the bad news first? Or the good news first?

Let's start with the good news shall we?

We got our flight for Italy changed from New Orleans to Dallas, which means a whole lot less driving for us. Originally when they asked us where we wanted to leave from Sean picked New Orleans thinking we'd be leaving from here, then he realized we'd be leaving from Oklahoma. So, thankfully that's changed and we even have our reservation number for it.

Looks like we are going from Dallas to Baltimore on January 6th and then from Baltimore to Italy. Yay! Now I just need to figure out the details with Boomer. I'd rather take him under the seat with me, since he's small enough to, but Sean wants him to be with the cargo. However, there is some restriction about pets not being checked when it's under 45 degrees. I'm pretty sure in Baltimore in January it's going to be under 45 degrees.

So..now the bad news. I need suggestions on this please!

A couple of years ago I purchased a brand-new car. In order to get the loan my mom had to co-sign on the loan with me. I wanted to get my mom off the loan and put Sean on there, but when I called the bank this loan is through they said that wouldn't be a problem, but they could not authorize us to ship the car overseas, even if it were for a military move.

No problem right? We bank through USAA and have our car insurance through them so surely we can get a loan through them. I called yesterday to do the loan application and we were turned down. I'll be the first to admit my credit isn't the best. I paid off a credit card this year and I'm guessing that's what is still hurting us. I checked our credit reports today. Sean's at about 712 and I'm in the mid 600's.

Now we are between a rock and a hard place. Realistically I know that public transportation in Europe is great and we could do without a car, but Sean wants one there just in case. Plus I still owe about $9,000 on this car and if we just sell it, then we aren't going to get that much out of it and will still be paying for a car we don't even have.

We HAVE to have written permission of our leinholder in order to ship the car, so just leaving with the car and not telling the bank we currently have the loan with will not work.

I bank locally here and thought maybe we could get a loan from them or my other thought was that we might be able to trade-in our car and get a loan from a dealership if we got a new car. However, I'm not sure how that would work.

Any ideas? Suggestions? Miracles for me?

I really don't know what to do and it's stressing me out.

At any rate have a great Friday! I know even with this stress I'm still going to have a great weekend with the girls in Houston!

13 comments:

d.a.r. said...

I know it sucks to still have to have your parents co-sign, but see if maybe USAA will accept the loan if your mom will co-sign. Having a guarantor always helps!

Good luck, money is soooo stressful!

tootie said...

I'm probably the worst person to give advice about this because I know very little about car-buying, etc.

But, I am really good at finger-crossing, and I will happily keep my fingers crossed for you that it all works out!

Sara said...

My credit rating sucks too. If you want I can talk to my dad about it. He spent about 5 years at European stations and transported two vehicles to and from Europe. That was about 10 years ago, but he's still pretty savy about those things and money. We'll talk tonight when you get here.

Lindsey said...

Ugh that sucks and I'm so sorry. I have no advice, but I just wanted to be here to sympathize with you and I really hope everything works out!
Have a great weekend friend!

Lindsay said...

Ugh. What a dilemma.

d.a.r.'s suggestion sounds good. If she would open to it, I would try that first.

This weekend is going to be great! I am so excited!

Sarah said...

I'm not really sure how all the loan stuff works. But what Will and I are doing and what my family and his family has always done is if they can't bring a car over they buy a junker car for very cheap on post from a family who doesn't want to bring it back to the states. When Will and I go to Germany we're bringing his car and I'll drive that and he'll drive the junker car. You may just be able to do the whole 1 junker thing so you're not putting a lot of money down on a car over there if you can't take it. I think the loan company is ridiculous to say you can't take it... it's your car. Maybe they don't know what they're talking about you should find a military thing that forces them to...

SondreLyn said...

If you have someone you can trust to keep the car for you AND you can afford to make the payments, leave it and buy a junker in Italy. I know from experience there will be many, many cars available. The car being more suitable for the roads in Italy will be a bonus. Good luck with whatever you do. I know it is stressful!

LyndsAU said...

I am so sorry about your car-that stinks!!! It will all work out! I have no advie as I have never bought a car myself! I can't deal with all that :)

Erin said...

That is very frustrating? Question..did you put yourself as primary on the loan or Sean. When I worked at the bank we always put the person with the higher credit score first. Or would it be possible to just have Sean on the loan?

A Soldier's Wife..... said...

I agree with Erin, we just financed a boat with USAA and had no issue with it...it was used and although both my husband and I have outstanding credit, I learned a long time ago to never take out a loan on anything I did not plan on making my own should a relationship not pan out!!!!

I would "sell" the car to Sean for $9000.00 (your payoff) have him apply for a used car loan through USAA as if he were anyone else applying for the loan without you.... You need not be on any loan he has (not EVEN a mortgage, not even a VA MORTGAGE and don't let anyone tell you different!)

This way it is a military service member loan who is being relocated due to his position in the military, NOT HIS WIFE with her own loan, with him or anyone else as the cosigner. JUST AN FYI no LEASED VEHICLES CAN GO OVERSEAS EITHER.....

I hope it works out for you... YEAH, being a grown up can suck....in more ways then one...but it has a whole lot of great benefits too....ENJOY EUROPE.

By the way, we bought a great BMW in Germany that we sold for more then we paid for it....and we drove it for 3 years on top of that.... I hate public transportation...unless its a train and I'm on vacation!

Casey said...

My suggestion to you would be to sell your car and purchase one when you get here with the money you make over what you still owe. Driving a junker isn't bad here, it's actually smart. Insurance is SUPER expensive, and your car will get knocked around. There are always people PCSing, and the Lemon Lot is a great place to find a car. We got Jordan's for just 1,000 bucks and have had no issues. Also, consider how expensive it will be if/when your car needs repairs here. Unless its a BMW, Volkswagen, or Volvo, parts will be INSANE. Even for those 3 cars, parts are in Euro!

Casey said...

Oh and to add, you really do need a car here. Public transportation is a great option, but it doesn't go on base. At least one car is a good idea. That being said, one car is really plenty!

erika said...

that really sucks... i hope you're able to work everything out!