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Old 05 Oct 2008, 05:46 pm
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Default Has anyone ever heard of this?

Well my credit is 461 score, and I got approved for a used 2001 Honda Civic from a buy here-pay here type place, well to get my payments at a good price, the guy needs $1,400 down. He said he needs a check for $300 at first so he can deposit it within 24 hours. He said he can give me 2-4 weeks to produce the other $1,200. He said it's through telecheck so if it bounces he will get his money and they will take it up with me.I've never heard of this before.. any advice?
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Old 05 Oct 2008, 06:01 pm
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most places want the whole down payment but seeing that this is a buy here pay here they have the choice if he is an up and up kinda guy this is good for you as far as the telecheck goes if you have bad checks out there telecheck will reject it before he even gets a chance to deposit it and telecheck does not pay anyone at all if the check bounced you could face charges for it so on and so forth like i said all telecheck does is checks to see if you written bad chcks
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Old 05 Oct 2008, 06:16 pm
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He sounds like a scam er to me.... telecheck dose not not pay anyone if a check bounces. I would look elsewhere for a loan try barnone on the internet. www.barnone.com
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Old 05 Oct 2008, 06:31 pm
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NO! NO! NO! NO!Don't ever buy from a "buy here pay here" car lot.I'll explain why -- but I need to know how much they want you to pay each week, after the down payment.It's worth, what, $5,000 at most, right?
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Old 05 Oct 2008, 06:46 pm
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just forget it !!! this a good way to destroy your credit ! what this is --is legal loan sharking!!! you will continue to pay them --on demand ! you're not going to get a good deal and the car will probably fall apart long before you pay itoff. they buy these cheapy cars at auction for nearly 1/3rd of what you'll pay for it if not more! abot the only good thing these people can do for you is ruin your credit.. and you'll still be paying for a junk car... go talk to a real dealer and ask about a first time buyers program. far safer and the car will be new or close to it with a real warranty !!!
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Old 05 Oct 2008, 07:01 pm
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Let me tell you what one of those guys told me once while I was fixing his motorcycle. A repo man brought a car in that he had got. And the owner told me how much money he made off that one car. I remember it was a Pontiac Grand Prix one of the big ones. He had sold the same car already 25 times. For a $300 down and $ 100 per week. He always got the down and a couple of payments then they could not pay. SO he repoed the car and did it all over again. The car might have been worth $300 on a good day to a blind man. He had to spend a little to patch it up. But the rest went in his pocket so buying a car at one of those places will only make you poorer and the car lot richer.
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