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Bad Credit Auto Financing Advice with Ms. Ed ~Episode 2 (Divorce)

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Ask Ms. Ed – Bad Credit Auto Financing Advice Episode 1 (Bankruptcies)

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Totalled Truck With A Balance ~Ask Ms. Ed

Dear Ms Ed:

My truck was totaled and the insurance company is paying off most of the loan but I will still owe a few thousand when it is completely settled. I need a truck now but I was told by another dealer that since my credit is not perfect, I will have to wait until I pay off the entire balance before I can qualify for another loan. I am in a rental but I have to return it at the end of the week and have no way to get to work. Can the Mr Ed Department help me even though another dealer told me I have to wait?

“Total”ly Troubled

Dear Troubled:

YES! The Mr Ed Department can help you. While some lenders require a your loan to be paid in full, many do not, and choosing a dealership who knows where to place your loan can make the difference between you driving or walking to work. You “totally” went to the wrong dealer! Let me go to work for you – call my Loan Approval Center at 800 217-MRED (6733) or logon to mred.com and we will get you approved TODAY! We may even be able to finance the payoff on your old truck in the new loan. Put an end to your troubles and contact me now!

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Posted in Ask Ms. Ed, Credit Tips

Underwater On Mortgage? -Ask Ms. Ed!

Dear Ms. Ed:

My wife and I bought our house in Phoenix at the peak of the housing market. Our
$180,000 house is now worth $ 65,000. We decided to do a short sale on the house. We have a buyer but it has been 5 months and we are still waiting for the sale to go through. Last week, our car was stolen and we need a car. Can you get us financing with a short sale in process?

Underwater and Out of Options

Dear Underwater:

ABSOLUTELY! You are not alone – tens of thousands of people in Arizona have found themselves in the same terrible position you and your wife are in and Mr Ed can help you! We will get you a loan which will help you rebuild your credit at the same time! Contact my Mr Ed Loan Approval Center today by calling 800 217-6733 or login to mred.com – it is fast, easy and completely private.

Come see me!

Ms ED

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Surprise! Yet Another Happy Customer

B from Surprise called to say “I worked with Mitch and the Mr Ed Department at Earnhardt Honda. This was the best car buying experience in my lifetime. Even when my credit was perfect, I was never treated with the respect and courtesy I received from Mitch and your team. It was a great experience!”

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Ask Ms. Ed: What If My Car Was Repossessed?

Dear Ms. Ed,

I had my last car repossessed because I lost my job. I finally found a reliable new job and now I need some wheels. It’s a night shift job and there are no buses available so I’ve been taking a long walk to work every night. Can you help me?

Signed, Pounding the pavement in Peoria

 

Dear Pounding the Pavement,

Help is on the way! Call my mr. ed department, toll free at 1800217MRED (6733) or log on to mred.com and fill out your application online. It’s fast, free and it’s confidential. We have many lenders that will finance people that have had repossessions. Especially one like yours that was directly due to the economic situation. We’ll get you off of your feet and riding in style in no time! Put away your walking shoes and call Mr. Ed today.

Signed, Ms. Ed.

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Ask Ms. Ed – Help! Foreclosure!

Dear Ms. Ed,
We lost our home due to a foreclosure. Now our old car is acting up and our bank said, “Sorry! We can’t help you because of a foreclosure ” We are in trouble! Help! Was homeless and now am nearly wheelless.
-Homeless & Wheelless
Dear H&W,
Your luck is about to change. In my Mr. Ed department, located in the valley-wide Earnhardt Auto Center stores, we have many banks and lenders that don’t care about foreclosures. Sadly, so many good people like you have lost their homes and we’ve helped many of them get a great new vehicle and get their credit going in the right direction again.
My team will work hard for you. We’re here and we’re free! It doesn’ t cost you a penny to apply online or over the phone. And my staff will answer all of your questions before you even come down to one of our locations.  I have many lendors that understand, and I understand too. I’ve had big credit problems in the past and that’s where my Mr. Ed Department will help you put your credit problems — in the past!
So don’t delay – call or log on today.
Signed,
Ms. Ed
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Posted in Ask Ms. Ed, Credit Tips

Knowing where we stand

I think we can all agree that it’s hard to improve your position in life, love, finances, really anything, if you don’t know where you currently stand in the first place. In fact, according to the 2009 Financial Literacy Survey taken by the National Foundation for Credit Counseling, 37% of the American adult population (meaning more than 1/3) doesn’t know what their credit score is.

So I think it’s time that we face the truth about credit in Arizona. In fact, this may even make you feel better (No really). So here it is:

In 2011, Arizona was ranked number 5 in a national listing of states with the worst credit health researched by cardratings.com. The test was conducted by scoring 2011 statistics concerning the following criteria:

1. Average credit scores
2. Foreclosure rates
3. Credit card delinquency rates
4. Unemployment rates
5. Bankruptcy rates

The cause of our strong negative ranking is due to our position within these fields of credit. Arizona was found to have the second largest number of foreclosures and to be among the 10 worst states for credit scores, credit card delinquencies and bankruptcies. I know I said this would make you feel better, but stay with me here. What these statistics prove to show us is that if you have bad credit, you are not alone.

While personal credit is an individual’s responsibility, if your surrounding area has bad credit, it can affect everyone, leading to a catch 22. When our state’s economy is down, banks and other lending institutions have to limit their available financial services, making them reluctant to extend credit to its customers. This causes the economy to develop more slowly, affecting employment and business conditions, even real estate values, and therefore limiting ways for residents to recuperate from their current credit situation.

So how do we fix this? How do we, as a state, confront our bad credit together? Well, baby steps really. As individuals, we can slowly but surely turn things around. First, GO TO YOUR BANK AND FIND OUT WHAT YOUR CREDIT SCORE IS. Secondly, ask them if there is any way to consolidate your debt, minimize your current interest rates, or set up a savings plan to go towards paying off debt. Don’t be afraid to ask these questions. The banks may seem scary sometimes, but they need your business just as much as you rely on them. Why? Because they can be your defenders. And they need to continuously Earn Your Business. If you are a loyal customer to your bank and/or credit card agencies— meaning you you’re your payments on time (mostly), you’ve been with their company for a long time as opposed to switching banks all the time, and you go to them with most of your financial needs—then they’re more willing to help.

The most beneficial thing you can do is make a plan, stick to it, and watch out for false advertised “quick fixes” to credit. There’s NO such thing.

And remember, it’s ok to ask questions. Ask your personal bankers. Ask your favorite search engine. Heck, you can even post them here if you like. And share your knowledge because the more everyone does their part, the faster (although I’m using that term loosely) everything will begin to turn around for our state.

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Mr. Ed Helps Customer Get 1st New Car in 9 Years

2011 Honda Pilot

2011 Honda PilotI am a very cautious and conservative car buyer. I’ve always dreaded the experience to be honest. But yesterday I showed up at Earnhardt Honda at 8:30am and I was the proud owner of a beautiful new 2011 Honda Pilot EXL Navi within hours.

The service, the expertise and the professionalism of the staff was awesome. They made me feel right at ease from the start and I felt in total control of my decision (versus normally feeling pushed and coerced). I especially appreciate the guys in Mr. Ed Financing (Showtime and Eric) for the great work they did in helping me create a good financing option (b/c i don’t have the best credit portfolio). Man, these guys are top notch and they went to work and i walked out of there with a great package. THANK YOU GUYS!

Then there was Elton Edwards! This guy is a class act. He was so patient and thorough and took the time to walk me through the entire vehicle (which was intimidating at first b/c i haven’t owned a new car in 9 years). But he made it easy. Just a great personality and genuine desire to see you get the most out of your purchase and your experience. He even gave me his personal cell to call him from time to time if i have any questions (b/c he has a Pilot too :)).

All in all —— TOP NOTCH! FIRST CLASS!

Bravo Earnhardt Honda! You make car buying fun and easy and exciting …. which is exactly what getting a new car should be like.

Thank you very much.

Jay W.

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