Buyers remorse..Seeking some guidance

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Mar 8, 2016
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Good morning,

My wife and I purchased a 2020.silverado chevy trail boss 4wd off road for 57k after taxes about 5 days ago.She put down about 15k and an additional 5k for extended warranty for another 60k miles

We purchased the truck at 61, courtesy chevrolet in Phoenix

I spoke to a financial advisor who suggested with the 670/month payment on the truck[8.9% interest] for the 75 months there will be not enough left over to purchase an Rv to live in

My wife and I were counting on houses being sold in indiana through her dad's inheritance this summer [2 homes].It seems that the timing of this is an uncertainty as there is complexitie amongst family members coming to an agreement

I know that it would have been better to see an advisor prior to purchase as we were a bit eager.I do take responsibility for the mistake

The financial advisor suggested talking to yhe chevy in Arizona and trying to get out of the loan.Possiily requesting a refund since it's been 5 days

He suggested he may be better off paying cash for a used truck as the payment of the truck alone is 1/3 of our combined income and this would free up space to pay for an Rv loa with out 1880 combined income.

He said with our spending now and her 240/month she pays for he sect 8 in phx are current expenses areabur 1600.About a couple hundred or so shy of our income

My wife has 40k left in Savings and I have about 10k.

I wonder if it's possible to find a truck we can afford to pay off in cash 10k,15k,20k and not owe any debt and somehow get out of this loan/get 15k and 5k warranty back as she has 60k in savings a week ago

To free up spacemThe financial guy at edward jones mentioned that if a truck loan was out of the way it would free up space to make payments on an Rv with 1888/combined income on disability

Currently in Phoenix and was curous if anyone may have tips on sm rational measures to take in order to live a lifestyle on the road without messing up our credit

We would like to leave Phoenix as her lease ends in October and sail east as Phoenix is very polluted.

I called my sect 8 office in Florida and haven't heard back.Im not sure if I even have sect 8 anymore.

She would like a 27ft trailer that has space but would be like 40-50k.

I mentioned to her that even if she gets 30k in inheritance this summer it won't be enough to pay of the truck loan of 670/month for 75 months

I've thought about staying in the truck until thereat of the inheritane comes and seeing if she could transfer her section 8 out of state to somewhere like Georgia or florida.

I am sensitive to mold to where I need to be outside most of the day or at least be in a vehicle where the windows are rolled down in good air

Phoenix is just making me sicker and government housing seems untouchable except for a few hours spent together

Appreciate any input on this guys or gals.

Learning from my mistakes

Thank you and good morning
Honestly I feel like I let ourselves get cheated it was 42k before taxes discounted from 48k And somehow with Warranties and fee add ons in went to 57 k after taxes

My mistake.

Goal is to live anywhere in the US with freedom
Check with the lender and state law to see if there is a grace period to return the vehicle. Do it immediately as it may be an extremely short period of time.
I would highly recommend buying the trailer before buying the truck. It is much easier to match the truck to the trailer than it is to match the trailer to the truck in my opinion. Buying a few year old RV with factory recalls and defects already fixed by the previous owner is a good way to go in my opinion. A used 3/4 ton Suburban bought for $6,000 can be restored mechanically if needed for less than $20,000 in almost all cases. A good 6 or 7 year old trailer should be available for less than $30,000 but all this needs to be checked and inspected by a knowledgeable third party like a trained mechanic or RV repair person. I would look around at places where older people in RVs live and check bulletin boards. There are businesses that specialize in Suburbans you can look into as well. This process is hard work, there are few if any shortcuts and those can be way too expensive for most.
My wife and I purchased a 2020.silverado chevy trail boss 4wd off road for 57k after taxes about 5 days ago.She put down about 15k and an additional 5k for extended warranty for another 60k miles

NO...You paid $70,000 for the truck.......Payments of $50k and Down payment of $20k.........WHY do you need 4WD?

How do you qualify for a $50k Truck loan with only $900 monthly disability income (x2) ?

You're 37 years old............You've been here on the forum for 7 years
The other thing, davsey, is that your wife’s marriage to you needs to be reported to her Section 8 office.

I’m not certain what reporting requirements are, but am pretty certain that marrying is one of them.

If she doesn’t do this, her rent would otherwise increase, and then the marriage is discovered, they may evict her and/or ask for arrearages, adding to your problems and your debt.

I don’t understand, either, why you & she did not just pay cash for this truck?

On May 22nd, you posted that she had $63,000 in savings and you had about $10,000.

You surely will not also be able to finance an RV.
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When people do not like the professional advice given they turn to the internet for advice. The answer is to scale down your expectations and go with an affordable option. That means you might need to settle for less space and luxury by changing your dreams of the perfect life over to a let’s make it work within a realistic budget life.

I myself did the same thing for my trailer I used to do when buying houses and that is put in some sweat equity.
Good morning,

My wife and I purchased a 2020.silverado chevy trail boss 4wd off road for 57k after taxes about 5 days ago.She put down about 15k and an additional 5k for extended warranty for another 60k miles are,500 miles, whichever comes first.
The link above will take you to the Arizona Attorney General website where you can drill down to the information included below. The short answer is that you should still have time to return the car, according to the information from the website.

If you buy from a dealer, request a free vehicle history report on a used car.

Have a trusted mechanic inspect the used vehicle before you buy. This may cost around $100 or more, but could save you money in the long run.

Check the vehicle's history. Instead of taking the salesperson's word about the history and condition of the vehicle, get a vehicle-history report from CarFax or Experian Automotive. Although these services are not fail-safe, they can alert you to possible odometer fraud; past flood, fire and accident damage; or whether a rebuilt or salvage title was ever issued for the vehicle.

Used cars in Arizona are sold with an implied warranty of merchantability that applies to every used car sale (although a specific defect may not be covered if it is spelled out in writing). This law is found at A.R.S. § 44-1267. The implied warranty lasts fifteen days or 500 miles, whichever comes first. The dealer must be given two opportunities to repair the vehicle, before a consumer can seek a refund.

Good luck!!!

p.s. I'm not sure why the link I copied looks wonky after selecting submit, but it should still work.
Honestly I feel like I let ourselves get cheated it was 42k before taxes discounted from 48k And somehow with Warranties and fee add ons in went to 57 k after taxes

My mistake.

Goal is to live anywhere in the US with freedom
Thank u for admitting your mistake. It is refreshing to c someone admit their mistakes instead of blaming everyone else. I can say this since I could write a book on my mistakes that are all my own. That being said, trying to get your money back would b great. But if not, look at the price you r willing to pay for a travel trailer. Why 40-$50,000? The market is flooded with nice late model RV's for 1/2 of that price. Look at Crankyape. My Son has bid and won 2 trailers and i have bid on a couple but not won. They do a really good job describing each unit and showing any damage since they want u to come back. My personal opinion on extended warranties, no way. I don't pay doc fees or extended warranties since that is where the dealer scam comes in. I m sure someone will comment that extended warranty saved them on a catastrophic failure. So, saved one/thousand sold?
But what the hell do I know. Blessings to all.
I sent the vehicle to the dealer maintenence yesterday although It is a certified pre-owned
Good carfax history
8 owners 61k miles

They gave me a lyft ride back to.aparment

Two days the gas.would pump for a dollar then stop then pump then stop

They will update me tomorrow on this maintenence actions they said they will take by around the afternoon

They will have a Mechanic look into the fuel amd see what's going on

Better to address returning It before or after they fix it tomorrow at noon?

Thinking about taking a lyft to accounting tonight or tomorrow morning

Thank you
This is not a truck you can afford. It will financially ruin you. Immediately start the return process. Every minute costs you. While it is broken you at least have a reason to return it. Why would you reasonably wait to explore your options that are probably time sensitive?

I just spoke to the finance guy after taking a lyft ride

He said that because it is outside of the 3 day period or 150 miles the vehicle is not returnable or exchangeable

Though neither my wife nor I havea copy of th contract

Told him a financial advisor at Edward jones suggested that 670 month is 35% of my wife and my ssdi income

He said can't you just wait till your wife's inheritance comes

I mentioned the 30-50k amount is unknown as the siblings are not 100% on the same page regarding the inhertance and probate

I told him that the stop start thing with the fuel pump.Basically at the gas staioj the gas pumps for a short while[maybe half a gallon] then stops.I can fill up gas just alot of stop an starts

He said your warranty should take care of it

He said he will talk to the general manager at chevy tomorrow and see what he can do about the situatiion after he knows what happened to the fuel pump issue

Any additional steps take?

Thank You
It is time to get a lawyer that specializes in automobile finance and Arizona lemon laws to advise you. You may also need to consult a bankruptcy lawyer as well as it seems you may need one in the near future. Best to know how to avoid more situations like the one you are in now that possibly have time restrictions or other requirements. It is possible the truck can be resold with you footing the bill for the difference between what you owe the finance company and what it sells for most likely. An expensive lesson for sure as there are several opportunities for you to lose money legally. Get representation and proceed carefully. These people are experts at taking your money and most likely they will get quite a bit unless you get expert help.
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...The financial advisor suggested...better off paying cash for a used truck...

Appreciate any input on this guys or gals.

Learning from my mistakes...
You asked me a month ago.
I told you to acquire a mid-1990s Dodge Cummins.
I told you to acquire a horse trailer, all aluminum with nothing to aggregate your allergies.
I don't see your choices as 'mistakes'.
I think your decisions are in the 'sabotage' category.
You'll pay $70,250 plus insurance & maintenance. How are you going to pay that? A new or near new vehicle are the worst possible investment IMHO as the $ you pay is like rent as when it's payed for it will be 10 years old & not worth much. I feel bad but really doubt they'll give you a refund. LargeMarge gave you great advice last time. Good Luck!
Age of a vehicle doesn't matter to me but milage, condition & maintenance do. I'd rather buy a proven vehicle for cash. I have a great well maintained no rust with 88,000 miles ambulance titled as a motor home for $9000 with a $500k replacement cost. Why did it have 8 owners in such a short time?
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There have been several good points made and everyone reading this needs to understand each individual makes their own decisions to fulfill what they perceive as their own needs. Our opinions are formed the same way. Just wanted to thank those that take the time to reply and point out something I learned a long time ago as a teacher. You can’t save them all and you are lucky if you help 5 out of a hundred.

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