Consider the Price Gouging Officially Over

[Stacyg]

Not to judge but someone has to put it out for people, sorry but how many haircuts you have to do to make 900$? I mean these BAD financial decision is what’s messing people up, living beyond your means.

Lol it’s sad that you have no idea what some hairdressers make and had the nerve to make such a ignorant statement. I make 100000 plus a year i can clearly afford a 900 dollar payment . I don’t live beyond my means if I did I would not be driving a Kia .! Maybe next time do some research before you make a ignorant statement like that! Have a great day! Lmao

 

[Stacyg]

"Lol I got the top trim and only put down 2500 so 1.9 percent for 60 months. It is what it is not gonna find an interest rate lower than that . I came from leasing so nothing to trade. its high but that’s the cost of financing a 47000 dollar vehicle".

Well, the great news here is you are BUYING the car, not leasing it. After 60 months, assuming reasonable miles and good maintenance, you will have many additional years of car ownership with NO payments! Small down payment drives the payments up, but it is what it is. So hang in there!

Just keep your guard up the next five years and avoid new car fever. Invariably, there will be something out there by then that is much better than a Telluride. But you will have a paid for car, and a really nice one!

Thank you yes that’s my intention to go 5 years with no payment......hopefully I don’t get new car fever! That’s the reason I always leased love a new car . As I get older I get much wiser don’t care if I am driving the hottest car! Seems I just have good taste needed a 3 row suv and already knew what a good brand Kia is. Telluride just happens to be the hottest car on the market! Lol

 

[Stacyg]

I got 1.4 % in July 2019.

That’s awesome!

 

[Stacyg]

Not to judge but someone has to put it out for people, sorry but how many haircuts you have to do to make 900$? I mean these BAD financial decision is what’s messing people up, living beyond your means.

Btw I only work 30 hours a weeks to make that. Maybe you should go to beauty school much cheaper than college haha couldn’t help myself!

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[PaulD]

And airlines, hotels, car rentals....

I had just come out of college, and was a management consultant w/ a big 5 firm starting the Monday after 9/11. So I was traveling a ton for work. Needless to say, I was scoring flights from JFK-LHR on weekends for on average $180 round trip. We used any excuse whether it be a Harry Potter premier, Bond Movie premier, to have lunch at a favorite Chinese restaurant, hit up clubs, etc.. It was fun to say the least. Got to know some ticket agents at both airports, never flew coach.

But outside of that though, demand for most other things was ok. Financial Services and Tech sectors became a disaster though. Most of my friends that were on Financial Services projects got laid off. I came out of school as a Java developer and quickly switched into project mgmt in the healthcare sector because I saw what was going down in IT with offshoring...smart move.

I was 33 when it happened. My wife had been laid off from a big, well known (at the time) search engine and had gone to visit her mom in Colorado. She was supposed to fly home that day but was stuck out there for another 10 days. I remember it all very well.

The after effects weren't nearly as broad as this.

 

[Kindguy]

Yup had I know I was gonna be out of a job the next few weeks I would have maybe leased again this payment is gonna be tough

Check my thread under Covid 19 discussion. Kia will let you defer a payment until the maturity date of the loan but will charge you interest daily. Is this what you call a relief??? Shame on Kia to profit from this pandemic

 

[Kindguy]

@Stacyg , did you finance with KMF?

If so, current KMF customers (Financed or Leased before March 14, 2020), who are providing care for themselves or a member of their household resulting from the current global crisis and are temporarily not able to work, they can request 30-day payment extensions up to three times.

Did Kia tell you the part where you’ll be charged an intérêt daily for deferring your payment? Eventually your note may increase as they put it to me yesterday over the phone. Even though they sent me an email encouraging me to contact them for relief, they still want to capitalize off this pandemic. It’s one thing to have the payment deferred and due at the maturity date of the loan, it’s fair. It’s a Shame to charge us interest daily while your hours been cut and out of your control. KIA should be ashamed!!

 

[mrmac]

Did Kia tell you the part where you’ll be charged an intérêt daily for deferring your payment? Eventually your note may increase as they put it to me yesterday over the phone. Even though they sent me an email encouraging me to contact them for relief, they still want to capitalize off this pandemic. It’s one thing to have the payment deferred and due at the maturity date of the loan, it’s fair. It’s a Shame to charge us interest daily while your hours been cut and out of your control. KIA should be ashamed!!

You seriously thought you’d get free money? I can’t help you with that thinking. You are using somebody else’s money, so of course interest will keep accruing. GG. You should have paid cash when you bought the vehicle if you didn’t want to pay interest for using somebody else’s money.

The point of a deferred payment is to save you from having to outlay cash when you don’t have it: like when you are furloughed .....

Be glad the lender doesn’t charge a fee to process the deferred payment.

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[TheNip73]

Good! That leaves at least one Telluride for someone who recognizes it's value. You won't see one sold for $5K under msrp during this or the next model year. Heck, the dealer can't even buy them for that price. You are not in touch with reality.

If you read his posts, they've been a litany of complaints about the Telluride with no indication he was actually trying to buy one.

Every forum has a few “Mr./Ms./Mrs. Negative” or “glass half full” personalities who have a high level of focus on the negative and/or are not good at discussion/open mindedness (their way or the highway).

 

[Kindguy]

You seriously thought you’d get free money? I can’t help you with that thinking. You are using somebody else’s money, so of course interest will keep accruing. GG. You should have paid cash when you bought the vehicle if you didn’t want to pay interest for using somebody else’s money.

The point of a deferred payment is to save you from having to outlay cash when you don’t have it: like when you are furloughed .....

Be glad the lender doesn’t charge a fee to process the deferred payment.

Mrmac, I already addressed your unrelated rant to my point earlier. The problem isn’t with defer payments due at the maturity of the loan. This is a unique situation even 3-6 months emergency funds is getting overwhelmed by now. KIA is advertising a relief program that charges interest. That’s my issue. Not the deferment, free money or free telluride Whatever else you’re on!...

 

[Kindguy]

Every forum has a few “Mr./Ms./Mrs. Negative” or “glass half full” personalities who have a high level of focus on the negative and/or are not good at discussion/open mindedness (their way or the highway).

I agree unfortunately.

 

[Stacyg]

Check my thread under Covid 19 discussion. Kia will let you defer a payment until the maturity date of the loan but will charge you interest daily. Is this what you call a relief??? Shame on Kia to profit from this pandemic

Yea no thank u! I guess I will suck it up and just pay it .....oh wait maybe I can just write a check from my credit card company that something someone is is in over their head would do ! Lmao. That was not directed to you! Just some ignorant person who made a crack about me being in over my head because I am only a hairdresser and I just can’t let it go. Plus I am having fun!

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[mrmac]

Mrmac, I already addressed your unrelated rant to my point earlier. The problem isn’t with defer payments due at the maturity of the loan. This is a unique situation even 3-6 months emergency funds is getting overwhelmed by now. KIA is advertising a relief program that charges interest. That’s my issue. Not the deferment, free money or free telluride Whatever else you’re on!...

Of course they will cbarge interest. You agreed to pay the interest according to your contract for EVERY day you owe the money. If you defer your payment, then you owe the money longer and must pay the interest for EVERY extra day. You merely deferred a payment , meaning they are allowing you to make the payment later. It is a freaking awesome deal for you. Why are you in a tizzy about something that is a common sense benefit? Why did you think it would be interest free? Do you think the place KMF borrowed the money from to loan to you is doing it for free?

There is no such thing as a free lunch. Someone always pays.

 

[Stacyg]

Of course they will cbarge interest. You agreed to pay the interest according to your contract for EVERY day you owe the money. If you defer your payment, then you owe the money longer and must pay the interest for EVERY extra day. You merely deferred a payment , meaning they are allowing you to make the payment later. It is a freaking awesome deal for you. Why are you in a tizzy about something that is a common sense benefit? Why did you think it would be interest free? Do you think the place KMF borrowed the money from to loan to you is doing it for free?

There is no such thing as a free lunch. Someone always pays.

Is the interest a lot what r we talking dollars or hundreds?

 

[mrmac]

Lol I got the top trim and only put down 2500 so 1.9 percent for 60 months. It is what it is not gonna find an interest rate lower than that . I came from leasing so nothing to trade. its high but that’s the cost of financing a 47000 dollar vehicle

You said your payment is $900/month for 60 months at 1.9%. That means your interest is less than $80.00 per month. If you get deferred payments for 4 months, you will will pay between $300 and $350.00 in extra interest over the life of the loan. Far less.

 

[Stacyg]

You said your payment is $900/month for 60 months at 1.9%. That means your interest is less than $80.00 per month. If you get deferred payments for 4 months, you will will pay between $300 and $350.00 in extra interest over the life of the loan. Far less.

Thank you thats Not bad if it comes to having to do that. I would rather not do it if I don’t have to. It’s just nice to know there are options who knows how long this ban on salons is gonna last.

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[jayp]

I think things are going to get back to "normal'ish" sooner than we had expected a few days ago. There are still hot-spots that are out of control - but I think most of the country is going to reign this situation in - and get through it sooner than later.

What the economy is facing now is not only the result of the corona virus impact but a long term debt supercycle. Check out this link for more detail than you you'll ever want to read: On My Radar: The End of the Long-Term Debt Supercycle - CMG.

 

[jayp]

What some "economists" and Kia dealer shills need to understand is that the world as we knew it is over. There's not going to be any pent-up demand lol. Forget about msrp. No one in there right mind will buy any new car at msrp anymore. Economy is dialed back and it will take many years to recover - even that given if we'll be able to develop vaccine for covid19 at least in 1 year.
I'll come here in 1 month to prove my point and we'll see how many Tellurides will pile up at each dealer and how low under msrp will dealers go in order to sell that degrading asset every car has become currently. You guys can keep living in la-la land, but reality is going to give you a nice slap in your palpebral slanted thin vermilion faces lol.

Local KIA dealer offered me his last 2020 Telly for $1 over invoice. Not what i wanted so I passed. If demand continues to fall and unemployment soars $1 over invoice will be the new norm. The dealers will still make a profit but nowhere's near as much as they have been doing.

 

[markjenn]

I always find it odd that folks complain so bitterly about dealers that charge over MSRP (i.e. the “gouging” term) in times of high demand yet think it fine if they push the dealer to invoice (or lower) during periods of low demand. It cuts both ways and I don’t hold it against a dealer who does markups, as long as they’re upfront about it. I don’t have to buy and the dealer doesn’t have to sell.

Car buying/selling needs to evolve to a less adversarial process. It’s hard on everyone and sucks all the fun out of something that should be pleasurable.

- Mark

 

[stevek]

I always find it odd that folks complain so bitterly about dealers that charge over MSRP (i.e. the “gouging” term) in times of high demand yet think it fine if they push the dealer to invoice (or lower) during periods of low demand. It cuts both ways and I don’t hold it against a dealer who does markups, as long as they’re upfront about it. I don’t have to buy and the dealer doesn’t have to sell.

Car buying/selling needs to evolve to a less adversarial process. It’s hard on everyone and sucks all the fun out of something that should be pleasurable.

- Mark

Perfectly said!