Are banks this stupid? [loan-related]
So I got my car 3 years ago for $30k on a 7 year loan
Now this same car costs $18k - a newer model, with a better package from the same dealer.
At this point I owe them roughly $18k, meaning that my car can't be sold on the market for that price -- since you can get a new one from a dealer.
So I call up my bank, say hey people, help me out with insurance. They're losing cash either way, so I basically told them "buy me insurance or take the car away".
Now what they did was really interesting. I don't get a single word from them, not a reply on the email I sent with this official request, not a phone call.
This week I get a phone call from a law firm that say "ok, park the car there and give us your keys". Are they _REALLY_ that stupid? They will never sell the car at a profit, will lose like $10k (market value is $8k for my car) -- and all because they didn't want to help me with $1k on insurance.
I must be really not getting something here. Well, fuck them. I can now get a good ride in cash in this economy.
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