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#4573121 - 11/13/17 06:31 PM little brother "bought" him a 2008 fusion
gabriel9766 Offline


Registered: 05/10/15
Posts: 936
Loc: Missouri
well coming home from work tonight when pulling up the street i see a black fusion behind my moms fusion. i walk in the house and ask whos car is tht? well my brother came down the hallway and says its his ( hes 15 bout to be 16 on christmas day). i asked how he paid for it at he said he financed it..... but my parents "co-signed" i went and looked at the paperwork and only thier name is on it.... i dont know why they did it, dad and i lost our jobs 2 months ago and hes still working his part time job at night. i got me a job at a dealer.

They Paid $4,700 for it + a $1,500 2 yr 24K aftermarket warranty on it. car loan is for 42 months at i think 5% intrest ( $167 a month ) I with i would have gone and at least looked at it when they bought it. we bought my moms 2010 fusion here and i took my friend there twice to buy her fusion and cobalt. each time i talked then down 3-500 on price for the things the car needs. i looked it over a lil tonight and test drove it it drives real good and shifts great. it does however have a bad valve cover gasket, atf is black, gonna need Rear brakes soon, and has a lound clunk going over bumps ( which i hope is not ball joints, i do not want to do them again in the driveway ) he has a job and all i got to say is he better be able to pay for this.
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2015 Chevy Malibu 1LT DI 2.5L I4- PPPP 0w20 and a napa gold 7060 39,829K

2007 Ford Escape XLT FWD 3.0 V6 motorcraft 5w30 bulk and a motorcraft FL500s 109,944K


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#4573129 - 11/13/17 06:44 PM Re: little brother "bought" him a 2008 fusion [Re: gabriel9766]
justintendo Offline


Registered: 03/04/17
Posts: 101
Loc: northwest pa
sounds like a bad situation..on the other hand the first gen fusion is a great car..
_________________________
2013 escape 2.0 awd
2008 fusion 2.3 mtx
1996 f150 4.9 2wd mtx
1999 kaw zrx 1100
many husqvarnas

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#4573143 - 11/13/17 07:01 PM Re: little brother "bought" him a 2008 fusion [Re: justintendo]
gabriel9766 Offline


Registered: 05/10/15
Posts: 936
Loc: Missouri
Originally Posted By: justintendo
sounds like a bad situation..on the other hand the first gen fusion is a great car..
I'd buy any gen fusion in a heart beat. I like the body style of my moms 2010 but prefer the 2013+.

Worst comes 2 worst if for some reason he cant afford it id pay off the car loan in cash and keep the car myself. I will not have my parents pay for this car. I've been thinking bout getting rid of the taurus anyways.


Edited by gabriel9766 (11/13/17 07:06 PM)
_________________________
2015 Chevy Malibu 1LT DI 2.5L I4- PPPP 0w20 and a napa gold 7060 39,829K

2007 Ford Escape XLT FWD 3.0 V6 motorcraft 5w30 bulk and a motorcraft FL500s 109,944K


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#4573183 - 11/13/17 07:32 PM Re: little brother "bought" him a 2008 fusion [Re: gabriel9766]
Rolla07 Offline


Registered: 11/05/11
Posts: 4734
Loc: MTL, CANADA
Better see if that warranty covers whatever issues it currently has...otherwise id get rid of the warranty. Personally id never buy a warranty on a car. Get it inspected by a 3rd party and the 100$ or so will give you a better idea on whether to pull the trigger or not.
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2007 Corolla Red Pearl 155k miles
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#4573203 - 11/13/17 07:48 PM Re: little brother "bought" him a 2008 fusion [Re: gabriel9766]
Nick1994 Online   content


Registered: 02/19/13
Posts: 10102
Loc: Phoenix, AZ
Aftermarket warranty, if it needs balljoints sounds like itís covered. Valve cover gasket will also be covered.
_________________________
2015 Hyundai Sonata 2.4L 79k PU 5w30 & OEM
2000 Toyota Camry 2.2L 228k M1 AFE 0w30 & Wix
1996 Jeep Cherokee 4.0L 146k M1 HM 10w40 & Fram Ultra

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#4573218 - 11/13/17 08:06 PM Re: little brother "bought" him a 2008 fusion [Re: gabriel9766]
Jimzz Offline


Registered: 10/03/14
Posts: 1143
Loc: NoVA
Look at the paperwork and see if you can get a refund for the warranty. Aftermarket auto warranties are 99% junk. They usually try to weasel out in coverage and when they do cover something its only partial due to deprecation or takes them weeks to approve.
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yup

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#4573251 - 11/13/17 08:35 PM Re: little brother "bought" him a 2008 fusion [Re: gabriel9766]
miden851 Offline


Registered: 02/15/16
Posts: 433
Loc: GA
Omg; So it is $7k over the lifetime of the loan; who needs a car loan for something of that age; instead, they should buy him a $2k car in cash and let him learn how to drive
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2008 Mazda6i GT; @195K miles
2016 Honda CR-V EX-L; @29K miles

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#4573274 - 11/13/17 08:54 PM Re: little brother "bought" him a 2008 fusion [Re: gabriel9766]
eljefino Offline


Registered: 06/15/03
Posts: 32632
Loc: ME
+3 on weaseling out of the warranty. I agree, take it in tomorrow for the clunking/ ball joints. If they don't fix it demand your money back then and there. There's a "warranty of merchantibility" for warranties as well as any other product-- if they don't work, cash back.

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#4573499 - 11/14/17 07:38 AM Re: little brother "bought" him a 2008 fusion [Re: miden851]
jeepman3071 Offline


Registered: 04/15/10
Posts: 4216
Loc: Storrs, Connecticut
Originally Posted By: miden851
Omg; So it is $7k over the lifetime of the loan; who needs a car loan for something of that age; instead, they should buy him a $2k car in cash and let him learn how to drive


+1

Doesn't sound like the smartest idea.
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2000 Jeep Cherokee 4.0L (179k) - Pennzoil 10w30, Napa Gold 1516, Magnefine trans filter
2009 BMW 328i (32k) - Castrol Edge Euro 0w40, MANN HU816X

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#4573644 - 11/14/17 09:57 AM Re: little brother "bought" him a 2008 fusion [Re: gabriel9766]
Brybo86 Offline


Registered: 10/08/11
Posts: 2947
Loc: Chicago, IL
Cosigning on a car loan for a kid sounds like a bad idea to me but their are a bunch of people on bitog(like CKN and Gebo) who will think this is a great idea.
I mean imagine how much this will help his and their credit scores.
Basically your parents and brother just won the lottery, it's actually that great.
This car loan will catapult them to financial success!


Gabriel if they don't make or can't make payments why would you bail them out? That means you basically cosigned for it.


Edited by Brybo86 (11/14/17 10:04 AM)
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08 Honda Accord EX-L 2.4L M1 EP 0w20 145k
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#4573739 - 11/14/17 11:52 AM Re: little brother "bought" him a 2008 fusion [Re: gabriel9766]
MCompact Offline


Registered: 07/21/02
Posts: 4112
Loc: KY
Yet another reminder of why I'm so thankful that I was an only child- and that my son is one as well.
Having to deal with aging parents is stressful enough without stirring a sibling or two into the mix...
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Mine:
2014 M235i
1999 Wrangler Sahara
1995 318ti Club Sport

Wife's:
2016 i3 REX
2009 Cooper Clubman

Son's
2009 328i

Buy what makes you smile...

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#4573813 - 11/14/17 01:27 PM Re: little brother "bought" him a 2008 fusion [Re: gabriel9766]
nthach Online   content


Registered: 01/02/04
Posts: 3893
Loc: California
Did they buy the car from a buy here-pay here lot or an outfit like CarHop or DriveTime? If so, that warranty(as well as GAP insurance) was packed into the car's bill of sale along with a GPS tracking/starter kill to make sure you pay your car note on time or you won't be going anywhere.

If I were you, find out ASAP if you can return that car. No reason to put financial responsibility on your parents. If not, see if you can pay the car off without early payment penalty and give the Taurus to your brother. That Fusion does need work, and if he's irresponsible, well we all know how that goes.

http://www.motherjones.com/politics/2016...tance-don-foss/

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#4573863 - 11/14/17 02:41 PM Re: little brother "bought" him a 2008 fusion [Re: gabriel9766]
Nick1994 Online   content


Registered: 02/19/13
Posts: 10102
Loc: Phoenix, AZ
I donít see how a 15 year old can have a financially stable enough job to have a car payment.
_________________________
2015 Hyundai Sonata 2.4L 79k PU 5w30 & OEM
2000 Toyota Camry 2.2L 228k M1 AFE 0w30 & Wix
1996 Jeep Cherokee 4.0L 146k M1 HM 10w40 & Fram Ultra

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#4573881 - 11/14/17 03:06 PM Re: little brother "bought" him a 2008 fusion [Re: gabriel9766]
madRiver Offline


Registered: 07/11/15
Posts: 3537
Loc: New England
Teaching jr to set themselves up for financial failure and if you canít afford things in life fianace. 42 months finance on a 10 year old car is just setup for fail.

Is it possible to get rid of that $2400 warranty that is likely so hard to collect on it be an exercise in frustration.

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#4573885 - 11/14/17 03:08 PM Re: little brother "bought" him a 2008 fusion [Re: MCompact]
madRiver Offline


Registered: 07/11/15
Posts: 3537
Loc: New England
Originally Posted By: MCompact
Yet another reminder of why I'm so thankful that I was an only child- and that my son is one as well.
Having to deal with aging parents is stressful enough without stirring a sibling or two into the mix...


Alternatively you can share the burden. Pros and cons to every situation.

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