June 19, 2009

Irony Much?!

After a long and dramatic process, and despite Ida's best attempts, on Wednesday husband and I drove home in our new car.

Its really interesting how things work out.
We had enough saved to pay half cash, and thought we would use the loan to pay the rest. But the loan we expected to get from Ida was at a 17.9% APR. YUCK! Well, it turned out to be a good thing that we weren't approved because that gave us the opportunity to use another method. We decided to put the rest on a credit card because it had a lower APR (not much lower though).
We were literally on our way out to make the purchase when I grabbed the mail. I saw a letter from my credit card carrier and I tore it open.
Inside was a letter that read,

"Congratulation, based on your responsible credit card usage we are lowering your APR from 15.9% to 6.9% until 2010."

Woahh! Perfect timing? I think so.


JumpIt said...

Make sure you stop at the bank with your new vehicle!

Anonymous said...

Great stuff! Couldn't happen to a better person right!

Anonymous said...

You should send a thank you card to Ida. If it wasn't for her looking out for the bank's best interest, you would have to spend more for the car. I'm sure she won't miss the irony. Or you could thank her publicly, in from of the bank manager if possible. I'm sure they would appreciate knowing they lost a customer with a good credit rating.

dave said...


It's weird that they wouldn't do a car loan with a 50% down payment. Banks just can't get out of their own way these days.

Gene said...

Girl, you need to join a credit union! My car loan (even with a bankruptcy 3 years before) was 6%.

G.H. said...

Gene- We went to a credit union prior to going to our bank. Problem is, we have just recently moved and haven't been in our current jobs for 6months to a year. They will not accept anything less. Bummer, but its all settled now