Author Topic: Overheard at Work  (Read 7606720 times)

TomTX

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Re: Overheard at Work
« Reply #13600 on: June 11, 2016, 10:53:37 AM »
Wow, rejected for $3? I understand it was rightly rejected as it was completely frivolous and unnecessary but my company doesn't even require a receipt until the expenditure hits $75.

I had an expenses claim rejected because I had under claimed by 18p. I spent an afternoon first explaining that I wasn't bothered about 18p, then that this was only because I'd applied an exchange rate to a total rather than rounding every item, and then redoing the entire claim. This tied up my time and a senior partner's time. When we are not arguing about expenses we each bill at over 1000 per day.
18p.

I've had an expense claim rejected because I explained using a hotel not on the list (no additional cost, hotels on list were full) in only ONE location on the form, instead of BOTH locations.
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TomTX

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Re: Overheard at Work
« Reply #13601 on: June 11, 2016, 10:56:09 AM »

Based on the looks on faces later, I don't think they're used to seeing credit scores that start with an 8.


Neither am I, how did you manage that?

Long history of flawless on time payments over a variety of account types.

I've had a score starting with 8 for at least 15 years. In 1996 when we bought the first house it was high 7.

Really not that difficult.
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ender

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Re: Overheard at Work
« Reply #13602 on: June 11, 2016, 10:58:16 AM »
My wife and I both have scores about 800 (5/6 were over when we just applied for a mortgage).

Both of us have had 1-2 credit cards for about 10 years. I had a car loan for ~1 year total. No late payments ever.


Cellista

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Re: Overheard at Work
« Reply #13603 on: June 11, 2016, 02:37:07 PM »
Yeah, I'm 811.  Maybe because I have large VISA bills and pay them immediately? Non-mortgage debt is a small share of income.

MoonShadow

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Re: Overheard at Work
« Reply #13604 on: June 11, 2016, 06:51:27 PM »
I'm stuck in the upper 7's.  I'm hoping because I have two mortgages, and that will improve once I finally sell the old house.  I've been renting it out for 3 years now.

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Re: Overheard at Work
« Reply #13605 on: June 11, 2016, 07:21:17 PM »
Wow, rejected for $3? I understand it was rightly rejected as it was completely frivolous and unnecessary but my company doesn't even require a receipt until the expenditure hits $75.

I had an expenses claim rejected because I had under claimed by 18p. I spent an afternoon first explaining that I wasn't bothered about 18p, then that this was only because I'd applied an exchange rate to a total rather than rounding every item, and then redoing the entire claim. This tied up my time and a senior partner's time. When we are not arguing about expenses we each bill at over 1000 per day.
18p.

I've had an expense claim rejected because I explained using a hotel not on the list (no additional cost, hotels on list were full) in only ONE location on the form, instead of BOTH locations.

I just had one rejected because the email I attached to show payment (using the corporate card- so exact amount was very clear) didn't include a date.

I work for Company X. The payment was for a conference put on by Company X. The credit card payment was listed to "Company X", the email was from Company X.

But Company X couldn't verify my expense report without a proper date (which they didn't put on the email THEY sent!)


I also had one rejected because I titled it "All Company Meeting", but my department met for the two days before the meeting, so they told me the all company meeting was only 2 days long, not 4.  So I changed the title to "week of all company meeting".  Our auditor is kind of ridiculous.  And she is so hard to work with.

RetiredAt63

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Re: Overheard at Work
« Reply #13606 on: June 12, 2016, 06:37:52 AM »
Our auditor is kind of ridiculous.  And she is so hard to work with.
If the auditor group for the Canadian Senate had been this careful over the last several years, we would have not had a bunch of expense scandals.  Fussy can be good.
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limeandpepper

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Re: Overheard at Work
« Reply #13607 on: June 12, 2016, 07:17:21 AM »
Of course the box must be included in the picture

I've noticed that people who are into Tiffany jewellery (and particularly if it's a gift from their partner, and especially if it's an engagement ring) seem to be most prone to this affliction.

nobodyspecial

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Re: Overheard at Work
« Reply #13608 on: June 12, 2016, 08:36:37 AM »
Of course the box must be included in the picture

I've noticed that people who are into Tiffany jewellery (and particularly if it's a gift from their partner, and especially if it's an engagement ring) seem to be most prone to this affliction.
Isn't there an app for that ?

Matilda

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Re: Overheard at Work
« Reply #13609 on: June 12, 2016, 10:13:15 AM »
2. "Buy a new car from our dealership and get financing at 0% for 84 months!"

To be fair, I would do that. If I needed a car. They say 0% because they don't expect ANYONE to qualify for that.

I needed a car and had picked out a model that was rated as very reliable with high resale value. And 2-3 year old used versions were selling at less than 10% off new. They were offering 0.9% financing and when I came in and asked about that they smirked and said that amount was for well-qualified buyers and they would do the best they could for me.

Based on the looks on faces later, I don't think they're used to seeing credit scores that start with an 8.

Free money for 7 years?! I'll take it.

My parents did that with a car back in the 90's.  They are natural mustachian types, in most ways, and generally paid for vehicles outright, no financing. But when they went to look into getting my sister a car, the dealership was offering zero percent financing.  The funds were in a money market account making good interest (90's, remember?), so they took the financing, left the money in the money market, paid the payments from the account, so the remainder of the funds could continue to accumulate interest.   

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Re: Overheard at Work
« Reply #13610 on: June 12, 2016, 01:28:27 PM »
2. "Buy a new car from our dealership and get financing at 0% for 84 months!"

To be fair, I would do that. If I needed a car. They say 0% because they don't expect ANYONE to qualify for that.

I needed a car and had picked out a model that was rated as very reliable with high resale value. And 2-3 year old used versions were selling at less than 10% off new. They were offering 0.9% financing and when I came in and asked about that they smirked and said that amount was for well-qualified buyers and they would do the best they could for me.

Based on the looks on faces later, I don't think they're used to seeing credit scores that start with an 8.

Free money for 7 years?! I'll take it.

My parents did that with a car back in the 90's.  They are natural mustachian types, in most ways, and generally paid for vehicles outright, no financing. But when they went to look into getting my sister a car, the dealership was offering zero percent financing.  The funds were in a money market account making good interest (90's, remember?), so they took the financing, left the money in the money market, paid the payments from the account, so the remainder of the funds could continue to accumulate interest.

My mother did this last year. Qualified for a seven-year zero-interest loan on a brand-new, fully loaded Kia Sorento. She said they ran her credit and then asked her how many more cars she wanted to buy.

Well, it's not what I would do with money, but at least she can afford it. She's not that frugal but she is retiring comfortably at 62.
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craiglepaige

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Re: Overheard at Work
« Reply #13611 on: June 13, 2016, 09:13:35 AM »
I overheard this "half a conversation" Saturday while working.

I work for a German dealership and the GM came to use the phone next to my service bay. I know he was talking to the owner of the dealership and apparently they were discussing the owner's friend wanting to trade in a car.

GM, "Morning -name- how's everything going?"
- Response -
GM, "He was here but we didn't settle on anything".
- Response -
GM, "The problem was the monthly payments. He was going to be at $1900. He wanted to stay at $1400".
- Response -
GM, "Well that's a problem too cause he's $20k under."
- Response -
GM, "Yeah, twenty thousand under. The trade-in won't help h any."
- Response -
GM, "We will find a car, just not the one he wanted. He's going to have to lower the price or it won't happen."
- Response -
GM, "He just couldn't do the $1900 he said. I'll see if I can dealer-trade for another model and will run the numbers."

And he said goodbye and hung up.

Sooooo, someone is $20k negative on a trade in, which they want to get rid of and can't afford more than $1400 for a car payment. 

Insane :(

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FuturePrimitive

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Re: Overheard at Work
« Reply #13612 on: June 13, 2016, 09:16:57 AM »
$1400/mo for a car payment?! Holy crap. that's more than my mortgage, which at ~1300 is I think on the high side compared to most here!

craiglepaige

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Re: Overheard at Work
« Reply #13613 on: June 13, 2016, 09:32:49 AM »
$1400/mo for a car payment?! Holy crap. that's more than my mortgage, which at ~1300 is I think on the high side compared to most here!

Yeah, just for a car payment. The level of craziness is out of this world.
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Beard N Bones

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Re: Overheard at Work
« Reply #13614 on: June 13, 2016, 12:06:10 PM »
I've been just itchin' to make a post on this thread.  \
As a small business owner, we have had our fair share of "interesting" characters as employees.  But one employee we had defined  what Anti-Mustachian/Consumerism is all about.  Henceforth she will be named Mrs. Anti-Mustachian (MAM).  Some background info on her and her family:
- They "bought" (ie. financed) a brand new gas guzzling SUV.   List price is 38,000 +.  They already had 2 vehicles (old beater van, couple years old mid-sized car), one of which they are still making payments on.  We live in a small Canadian town where it takes less than 30 min to walk across town.  (This is a story I will share at some other time, as it is so good it deserves its own separate post.)
- They make a decent wage.  He works a trade (est $55/hr full time) and she worked as a part time receptionist ($15/hr). 
- They bought a very inexpensive house where an extended family member supplied them with the down payment.  House should have been paid off a long time ago - but they are still paying mortgage payments.
- Credit cards are always carrying a balance.
- I'm sure they have no budget but she told me her husband allows her $100/day miscellaneous Blow It money.
- They don't have any retirement savings, but are hoping the husbands pension is good enough.
- Being quite young (early 30s), she has many health issues that can be mainly contributed to: 1. Poor sleep. 2. Poor diet.  3. No exercise. 4. Smoking cigarettes.
- They have 3 kids and a large dog.
- They are "collectors" of board games and electronic gaming systems - she has hoarding tendencies.
- She would brag to us, her employers, that she would be able to wake up 5 minutes before work started and be there on time.  (Yeah, my teeth would grind and steam would exit my ears when she would say this.)
-  When she gets upset with her husband, part of her retaliation is to spend a large amount of money on purchases he wouldn't be happy with (shopping trips in the neighbouring city, expensive clothes, books, etc etc.)  Unfortunately for her husband, she sees him as the problem for everything. 
Now that you've got some background info, here it is...

It was not long ago that MAM booked a holiday to Las Vegas.  She wanted to go on a holiday with her family (mom, aunt, sisters).  Because saving money was not one of her strengths, she went to the closest casino (130km away) on a weekend to try to win herself some holiday money.  On arriving to work Monday morning she was very excited to share that she had won enough money playing Black Jack that her flights and accommodation in Vegas could now be paid for in advance.  She told me she gave that money to her mom so that she would not spend it on anything before her trip.  (You know you have a problem with money when...)  She went on to say that it is impossible to lose money playing Black Jack.   Yep, she really believes this.
Fast forward to the Monday following her trip to Vegas...
It was quite apparent she wasn't quite so excited about life.  She had just enough energy to shuffle her feet down the hall.  She said to those that entered our office that "my brain just isn't working today" and laughed about it.  It was apparent she was exhausted.  When time permitted, I asked her how the holiday was.  She stated that "she met soooo many nice people and made some really good friends."  She went on to say that one night in the casino, she was in need of some more money.  She had maxed out her credit cards and had no available cash.  So she called her credit card company, asking for a credit limit increase.  She was told by the cc company that she wasn't eligible to have her credit card limit increased because she had already increased her credit card limit within the last three days.  She told me she was upset with the credit card company and she gave Customer Service an ear full.

I once again inquired about her views on the profitability on Black Jack.  Contrary to that experience, she still felt it is a sure thing.  "You can't lose playing that game."
Queue my forehead hitting the wall...  more to come on MAM.

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Re: Overheard at Work
« Reply #13615 on: June 13, 2016, 12:59:56 PM »
Wait, wait, wait $100 per day, per DAY?!?

Please tell me 'Blow It' money is what my dirty mind is thinking as a charge for services rendered in the bedroom.

And, just to be clear, MAM thinks that Blackjack is set up to give people money. Is it impolite to ask why she is still working? Looking forward to future tales.

MgoSam

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Re: Overheard at Work
« Reply #13616 on: June 13, 2016, 01:14:19 PM »
^ Yeah I was thinking the same thing. Even if it was only for the work week, that would mean $25k annually, or roughly half her husbands's assumed pre-tax salary.

dandarc

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Re: Overheard at Work
« Reply #13617 on: June 13, 2016, 01:15:55 PM »
And, just to be clear, MAM thinks that Blackjack is set up to give people money. Is it impolite to ask why she is still working? Looking forward to future tales.
Exactly - if you actually believe this, surely you can do way better at the tables than $15 / hour, right?

MrMoogle

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Re: Overheard at Work
« Reply #13618 on: June 13, 2016, 01:17:15 PM »
Wait, wait, wait $100 per day, per DAY?!?

Please tell me 'Blow It' money is what my dirty mind is thinking as a charge for services rendered in the bedroom.

And, just to be clear, MAM thinks that Blackjack is set up to give people money. Is it impolite to ask why she is still working? Looking forward to future tales.
Well, if you are good at counting cards, Blackjack isn't so bad.  Maybe she doesn't do it often, so she doesn't get caught?

MgoSam

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Re: Overheard at Work
« Reply #13619 on: June 13, 2016, 01:19:19 PM »
And, just to be clear, MAM thinks that Blackjack is set up to give people money. Is it impolite to ask why she is still working? Looking forward to future tales.
Exactly - if you actually believe this, surely you can do way better at the tables than $15 / hour, right?

Man this brings me back to my first real taste of gambling. Thankfully I lost my shirt because I haven't wanted to risk a penny at a casino since. Due to work I usually spend a few weeks a year in Vegas, but now stay off-strip at a hotel that only has slots. Rate is far lower, has a lot so I'll rent a car and pick up groceries and other things and enjoy my stay in Vegas. I rarely venture to the strip anymore, and if I do it's nearly always to take out a customer.

Beard N Bones

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Re: Overheard at Work
« Reply #13620 on: June 13, 2016, 01:25:53 PM »
Wait, wait, wait $100 per day, per DAY?!?

Please tell me 'Blow It' money is what my dirty mind is thinking as a charge for services rendered in the bedroom.

And, just to be clear, MAM thinks that Blackjack is set up to give people money. Is it impolite to ask why she is still working? Looking forward to future tales.

Yes, you read that correctly Playing With Fire, $100 Canadian Dollars per day.  To do the simple math for you, that's $36,500/year.  Absolutely mind blowing.  Hard to wrap my head around those numbers (considering my wife and I "allow" $100 for her and $30 for myself per month for that type of spending.)
And no, Blow It money has nothing to do with sexual favors in this case (as far as I know.)
And no, I don't think it impolite to ask "why she is still working?"  I have asked the same questions many times before.  Thankfully she doesn't work for us any more.
And no MrMoogle, she is not a card counter.  I am confident in that.
« Last Edit: June 13, 2016, 01:28:39 PM by Beard N Bones »

dragoncar

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Re: Overheard at Work
« Reply #13621 on: June 13, 2016, 02:23:11 PM »
Wait, wait, wait $100 per day, per DAY?!?

Please tell me 'Blow It' money is what my dirty mind is thinking as a charge for services rendered in the bedroom.

And, just to be clear, MAM thinks that Blackjack is set up to give people money. Is it impolite to ask why she is still working? Looking forward to future tales.

Yes, you read that correctly Playing With Fire, $100 Canadian Dollars per day.  To do the simple math for you, that's $36,500/year.  Absolutely mind blowing.  Hard to wrap my head around those numbers (considering my wife and I "allow" $100 for her and $30 for myself per month for that type of spending.)
And no, Blow It money has nothing to do with sexual favors in this case (as far as I know.)
And no, I don't think it impolite to ask "why she is still working?"  I have asked the same questions many times before.  Thankfully she doesn't work for us any more.
And no MrMoogle, she is not a card counter.  I am confident in that.

It kinda sounds like the husband is just agreeing to cover all the family expenses and his wife is free to spend her income however she wants.  She probably makes around $100/day given the above numbers (of course pre tax).  This arrangement is not entirely unconventional

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Re: Overheard at Work
« Reply #13622 on: June 13, 2016, 03:24:11 PM »
It kinda sounds like the husband is just agreeing to cover all the family expenses and his wife is free to spend her income however she wants.  She probably makes around $100/day given the above numbers (of course pre tax).  This arrangement is not entirely unconventional

Regardless of convention, I hope we can agree that 36,500 CAD per year for fun money is bat-shit crazy?

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Re: Overheard at Work
« Reply #13623 on: June 13, 2016, 04:16:02 PM »
Wait, wait, wait $100 per day, per DAY?!?

Please tell me 'Blow It' money is what my dirty mind is thinking as a charge for services rendered in the bedroom.

And, just to be clear, MAM thinks that Blackjack is set up to give people money. Is it impolite to ask why she is still working? Looking forward to future tales.

Yes, you read that correctly Playing With Fire, $100 Canadian Dollars per day.  To do the simple math for you, that's $36,500/year.  Absolutely mind blowing.  Hard to wrap my head around those numbers (considering my wife and I "allow" $100 for her and $30 for myself per month for that type of spending.)
And no, Blow It money has nothing to do with sexual favors in this case (as far as I know.)
And no, I don't think it impolite to ask "why she is still working?"  I have asked the same questions many times before.  Thankfully she doesn't work for us any more.
And no MrMoogle, she is not a card counter.  I am confident in that.

It kinda sounds like the husband is just agreeing to cover all the family expenses and his wife is free to spend her income however she wants.  She probably makes around $100/day given the above numbers (of course pre tax).  This arrangement is not entirely unconventional
Neither, I'm told, is the charge for services between married people.
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ender

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Re: Overheard at Work
« Reply #13624 on: June 13, 2016, 04:16:50 PM »
It kinda sounds like the husband is just agreeing to cover all the family expenses and his wife is free to spend her income however she wants.  She probably makes around $100/day given the above numbers (of course pre tax).  This arrangement is not entirely unconventional

Regardless of convention, I hope we can agree that 36,500 CAD per year for fun money is bat-shit crazy?

Oh I don't know, it seems reasonable. You could buy brand new cars and light them on fire every year for that amount too.

Err, wait. I guess not :P

Beard N Bones

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Re: Overheard at Work
« Reply #13625 on: June 13, 2016, 05:08:13 PM »
Another Chapter in the Story of Mrs. Anti-Mustachian (MAM)...

It was previously mentioned that MAM and her husband "bought" (read: financed) a new gas guzzling SUV recently.  Unfortunately there is so much more to the story than meets the eye with this one.  You read through the pages and threads of the Antimustachian Wall of Shame and you will see countless examples of the poor choices people make regarding vehicle purchases.  I've only read through 40 some odd pages through this Overhead at Work thread, but I am confident this is the worst one of its kind in all that has been posted thus far.  MAM has taken things to a whole different level.  Here is what MAM has done... and what she plans to do.

As stated earlier, MAM and her husband spent $38,000 to purchase a gas guzzling, bed pan and catheter-included, SUV.  MAM told me her husband was more hesitant in making large purchases than herself.  (yep, another way she talks down on her husband.  Because, of course, how she makes purchases is the right way to do it.  Queue Eye Roll.)  This time around, it was her trying to convince her husband that a new vehicle was necessary.  She had already been to the dealership and found two vehicles that seemed to tickle her fancy.  No question she would have purchased the one she wanted without her husband there if she could.  But alas, he was a necessary part of the process as someone that would sign papers for the financing needed for the purchase.  She expressed frustration: "In the past, they went to the dealership one day, signed the appropriate paperwork, and drove away with the vehicle they wanted that same day.  Why is he dragging his feet in buying a vehicle this time?!  You know we need another vehicle.  Our van runs but it makes all sorts of noises and there are warning lights blinking on the dash.  Even though the mechanic that looked at it said that the warning light doesn't make the van unsafe and the van is still operable, we need a new vehicle."  So within a week of her telling me this, she arrives at work one day ecstatically excited.  The previous evening her and her husband went to the dealership and decided on a vehicle.  They "splurged" on the vehicle that cost an extra $1500 because it was a Sparkling Diamond color (or some ridiculous color name like it).  Yep, fantastic deal she tells me, because it is 0% financing for 8 years.  That is less than $200 biweekly she goes on to say.  My response was a goofy smile, mandible of jaw on the floor, and I stammered out a "w. w.. wwwow.  That is great.  Good for you."  Queue my Forehead hitting the Wall once again...

And this is where it gets worse.  Within the first week of getting the vehicle, she is talking about plans she has for her and her family.  She thinks that her current purchase is so good, that she is going to "sell" their SUV to her daughter (16 years old, just got her driver's license) in a couple of years.  That way, her and her husband can get a new vehicle again at that point, and her daughter won't have to worry about driving an old, cheap car.  Yep, her daughter is still in school, works a minimum wage job, and her mom is going to give her a real life education on how to make financing payments - on a car.  Considering the vehicle she bought, the very little maintenance they do on their vehicles, the amount of (needless) driving they would put on that vehicle in a couple of years, even the fact she smokes in the vehicle all the time, there is no doubt she will "sell" the vehicle to her daughter for more than it is worth - she says "for whatever remains on the financing of the car, is what I would sell it for." 

No, don't teach you child about making responsible financial choices.  No, rather, teach them the ways of anti-mustachianism in very real terms and make them learn hard life lessons instead - if they learn them at all. 
I've got a very young family and just typing this out, makes my stomach queezy and I'm way too worked up for my good.  Time to walk home, get some fresh air, and calm down ("keepin' calm and stachin' on!)

craiglepaige

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Re: Overheard at Work
« Reply #13626 on: June 13, 2016, 06:02:54 PM »
At least she got 0% financing :)

Before MMM my  wife(and I) bought a Kia Sportage back in 2011. It was brand new and we decided it was going to be a 20 year vehicle. Luckily we were not super stupid then and we paid it off early.

Now that car will be our 3yo son's car when he turns 16yo. Our plan is to "sell" it to him and have him pay us a monthly payment on it, which we will save for his education.

He will also be responsible for maintenance and repairs, which I will teach him how to do. Hopefully this will make him appreciate the value of knowing how to fix things and the reason why maintain them.
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Goldielocks

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Re: Overheard at Work
« Reply #13627 on: June 14, 2016, 12:53:44 AM »
Reminds me...

FIL sold us his car, a 10 year old Acura sedan that had quite a bit of mileage on it.  He acted like he was doing us a favour by selling his "baby" to us at the full retail value.   Never mind that he had never sold a car privately in his life, had always done a trade in, and happily, too.   And he expected us to be ever grateful to him.   It was touch and go, but DH bought the car because it was priced at private retail, equivalent to the other seller we found, it was what we generally wanted, and we know the owner.  Thank goodness MIL got a bit upset at FIL when she found out and insisted on taking it to the mechanic and paying for repairs before handing it over.

Of course, two years later SIL, received a new Acura from FIL because DH was given an Acura two years before and the new Acura was a very good price....  I think another poster commented (different thread) about how people remember and justify things all twisted.

Never "sell" your old crap to your kids!   I liked the forced savings idea (where money is returned as education) another poster mentioned,  but selling stuff you don't want anymore to your kids, and calling it a "gift" or "Favour" is crappy.

nick69

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Re: Overheard at Work
« Reply #13628 on: June 14, 2016, 03:23:29 AM »
Never "sell" your old crap to your kids!   I liked the forced savings idea (where money is returned as education) another poster mentioned,  but selling stuff you don't want anymore to your kids, and calling it a "gift" or "Favour" is crappy.

Depends on whether you think there should be some sort of forced 'family hand me down discount' or if its just business.

I bought my first car off my parents when they decided it was time for an upgrade (they'd had it 15+ yrs at that point). I wasn't forced to buy anything, the option was just there if it made financial sense (and it did). The only reason they sold it to me instead of the dealership was that I offered them $1 more than the trade in price.

theadvicist

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Re: Overheard at Work
« Reply #13629 on: June 14, 2016, 03:33:10 AM »
At least she got 0% financing :)


Yeah, but is there really such a thing as 0%? I always think it's just worked into the purchase price.

When we bought my engagement ring, we were told, "And we do 0% financing! It won't cost you a penny!". My husband-to-be said, "So how much discount can you offer for paying in full today?", and it turned out, it was 5% of the price.

LennStar

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Re: Overheard at Work
« Reply #13630 on: June 14, 2016, 04:48:14 AM »
Yes, 0% offers are always already in the price.
Also, the company giving you 0% makes a better deal then giving the money to a bank at -0.1% (Yes, banks here in Europe charge you (big businesses) now for giving your money to them. But we have solved the finance crisis ahaahahahaaaaaaaa!)

KodeBlue

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Re: Overheard at Work
« Reply #13631 on: June 14, 2016, 04:54:36 AM »
Wait, wait, wait $100 per day, per DAY?!?

Please tell me 'Blow It' money is what my dirty mind is thinking as a charge for services rendered in the bedroom.

And, just to be clear, MAM thinks that Blackjack is set up to give people money. Is it impolite to ask why she is still working? Looking forward to future tales.
Well, if you are good at counting cards, Blackjack isn't so bad.  Maybe she doesn't do it often, so she doesn't get caught?
How can she count cards? She apparently can't even count money.

marty998

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Re: Overheard at Work
« Reply #13632 on: June 14, 2016, 05:23:03 AM »
Guy in lift talking to friend...

"We spend $160 on personal training"
"A month?"
"A week"

I just raised my eyebrows and walked out. I mean... I guess it looked like it was working for him.

There's worse you could be spending cash on then making yourself more healthy.

Ceridwen

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Re: Overheard at Work
« Reply #13633 on: June 14, 2016, 08:06:17 AM »
Today I'm meeting someone in my office lobby to sell a baby item I sold to them online.  In the elevator this morning, a colleague sees me with the (rather bulky) item and inquires, so I tell her my plans.

CW: How much are you getting for that?
Me: $5
CW: Wow, I would not go to this trouble for $5!
Me: -

Exiting elevator
CW: (sarcastically) Enjoy your $5!
Me: I WILL!!!

Ceridwen

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Re: Overheard at Work
« Reply #13634 on: June 14, 2016, 08:08:48 AM »
At least she got 0% financing :)


Yeah, but is there really such a thing as 0%? I always think it's just worked into the purchase price.

When we bought my engagement ring, we were told, "And we do 0% financing! It won't cost you a penny!". My husband-to-be said, "So how much discount can you offer for paying in full today?", and it turned out, it was 5% of the price.

My husband went through the same thing when he bought my engagement ring, but they offered no discount for paying in full, so he took the 0% financing just to spite them.

Paul der Krake

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Re: Overheard at Work
« Reply #13635 on: June 14, 2016, 08:20:36 AM »
At least she got 0% financing :)


Yeah, but is there really such a thing as 0%? I always think it's just worked into the purchase price.

When we bought my engagement ring, we were told, "And we do 0% financing! It won't cost you a penny!". My husband-to-be said, "So how much discount can you offer for paying in full today?", and it turned out, it was 5% of the price.

My husband went through the same thing when he bought my engagement ring, but they offered no discount for paying in full, so he took the 0% financing just to spite them.
He showed them by taking the thing they were pushing?

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Re: Overheard at Work
« Reply #13636 on: June 14, 2016, 08:22:52 AM »
Today I'm meeting someone in my office lobby to sell a baby item I sold to them online.  In the elevator this morning, a colleague sees me with the (rather bulky) item and inquires, so I tell her my plans.

CW: How much are you getting for that?
Me: $5
CW: Wow, I would not go to this trouble for $5!
Me: -

Exiting elevator
CW: (sarcastically) Enjoy your $5!
Me: I WILL!!!

Oddly, the CW wouldn't have thought it weird to go to that amount of trouble for an overpriced latte, which would involve SPENDING $5.
I squeak softly, but carry a big schtick.

dandarc

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Re: Overheard at Work
« Reply #13637 on: June 14, 2016, 08:25:03 AM »
At least she got 0% financing :)


Yeah, but is there really such a thing as 0%? I always think it's just worked into the purchase price.

When we bought my engagement ring, we were told, "And we do 0% financing! It won't cost you a penny!". My husband-to-be said, "So how much discount can you offer for paying in full today?", and it turned out, it was 5% of the price.

My husband went through the same thing when he bought my engagement ring, but they offered no discount for paying in full, so he took the 0% financing just to spite them.
He showed them by taking the thing they were pushing?
They might have even gotten more money on the 0% financing.  I know at a retail job I used to work, the 6-months same-as-cash financing we had to offer actually paid the store something like 102% of the amount financed.

MrMoogle

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Re: Overheard at Work
« Reply #13638 on: June 14, 2016, 08:34:55 AM »
At least she got 0% financing :)


Yeah, but is there really such a thing as 0%? I always think it's just worked into the purchase price.

When we bought my engagement ring, we were told, "And we do 0% financing! It won't cost you a penny!". My husband-to-be said, "So how much discount can you offer for paying in full today?", and it turned out, it was 5% of the price.

My husband went through the same thing when he bought my engagement ring, but they offered no discount for paying in full, so he took the 0% financing just to spite them.
He showed them by taking the thing they were pushing?
They might have even gotten more money on the 0% financing.  I know at a retail job I used to work, the 6-months same-as-cash financing we had to offer actually paid the store something like 102% of the amount financed.
0%, but added "financing fees."

Ceridwen

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Re: Overheard at Work
« Reply #13639 on: June 14, 2016, 08:53:24 AM »
At least she got 0% financing :)


Yeah, but is there really such a thing as 0%? I always think it's just worked into the purchase price.

When we bought my engagement ring, we were told, "And we do 0% financing! It won't cost you a penny!". My husband-to-be said, "So how much discount can you offer for paying in full today?", and it turned out, it was 5% of the price.

My husband went through the same thing when he bought my engagement ring, but they offered no discount for paying in full, so he took the 0% financing just to spite them.
He showed them by taking the thing they were pushing?

First of all, they weren't pushing it.  He went in and bought exactly what he wanted to.  Buy yes, he figured that if they wanted to go through the extra expense on their end (paperwork, employee time, etc) to set up 0% financing, he'd let them go through the effort.

Chris22

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Re: Overheard at Work
« Reply #13640 on: June 14, 2016, 11:45:17 AM »
Sometimes cash/100% at front is cheaper, but many times, they push the financing so hard that it's actually worse for you if you want to pay in cash.  Go negotiate a deal on a car where they think you're financing at 0%, and then tell them at the last minute you want to pay cash, they'll try to renegotiate the deal because they want you in the financing, even at 0%.  They get kickbacks from the financing company to keep you financed, even at 0%.  Can't say I completely understand it, but I've witnessed it.
"If I could get all the money back I ever spent on cars, I'd spend it on cars." - Nick Mason

Ceridwen

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Re: Overheard at Work
« Reply #13641 on: June 14, 2016, 11:54:53 AM »
Sometimes cash/100% at front is cheaper, but many times, they push the financing so hard that it's actually worse for you if you want to pay in cash.  Go negotiate a deal on a car where they think you're financing at 0%, and then tell them at the last minute you want to pay cash, they'll try to renegotiate the deal because they want you in the financing, even at 0%.  They get kickbacks from the financing company to keep you financed, even at 0%.  Can't say I completely understand it, but I've witnessed it.

Interesting.   I had no idea that's how it could work.

mm1970

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Re: Overheard at Work
« Reply #13642 on: June 14, 2016, 11:58:35 AM »
Sometimes cash/100% at front is cheaper, but many times, they push the financing so hard that it's actually worse for you if you want to pay in cash.  Go negotiate a deal on a car where they think you're financing at 0%, and then tell them at the last minute you want to pay cash, they'll try to renegotiate the deal because they want you in the financing, even at 0%.  They get kickbacks from the financing company to keep you financed, even at 0%.  Can't say I completely understand it, but I've witnessed it.

Interesting.   I had no idea that's how it could work.
Yes, I read some information on how to buy a car (from a dealer), which I unintentionally followed when our last car died and we bought new.

1.  First negotiate the price of the car.
2.  Negotiate the trade in amount (or vice versa?)
3.  Financing, if you need it.

They always try to lump it, but the important thing is to do all 3 separately.

So on that particular car, they kept trying to lump them together, and I wouldn't budge.  I finally got up to leave and they met my price. 
Then we  moved on to the trade in on my POS (it was fair.  The actual trade in value if it had been running was about $800).

When it came to financing, we pulled out the checkbook.

mtn

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Re: Overheard at Work
« Reply #13643 on: June 14, 2016, 12:15:22 PM »
Sometimes cash/100% at front is cheaper, but many times, they push the financing so hard that it's actually worse for you if you want to pay in cash.  Go negotiate a deal on a car where they think you're financing at 0%, and then tell them at the last minute you want to pay cash, they'll try to renegotiate the deal because they want you in the financing, even at 0%.  They get kickbacks from the financing company to keep you financed, even at 0%.  Can't say I completely understand it, but I've witnessed it.

If you pay in cash, they (either the dealership or financing company, doesn't matter) get nothing other than the profit from the sale of the car. If you finance, even at 0%, they at least have a chance at making more--if you miss a payment, you pay a late fee. If you can't make your payment for some reason, they'll renegotiate with you at a lower monthly payment and higher interest rate for longer term. But if you paid in cash? They have no chance at that.

And it means nothing to most dealerships if they get paid now or later--the exception would be the small mom and pop shops.

Chris22

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Re: Overheard at Work
« Reply #13644 on: June 14, 2016, 12:48:34 PM »
Sometimes cash/100% at front is cheaper, but many times, they push the financing so hard that it's actually worse for you if you want to pay in cash.  Go negotiate a deal on a car where they think you're financing at 0%, and then tell them at the last minute you want to pay cash, they'll try to renegotiate the deal because they want you in the financing, even at 0%.  They get kickbacks from the financing company to keep you financed, even at 0%.  Can't say I completely understand it, but I've witnessed it.

If you pay in cash, they (either the dealership or financing company, doesn't matter) get nothing other than the profit from the sale of the car. If you finance, even at 0%, they at least have a chance at making more--if you miss a payment, you pay a late fee. If you can't make your payment for some reason, they'll renegotiate with you at a lower monthly payment and higher interest rate for longer term. But if you paid in cash? They have no chance at that.

And it means nothing to most dealerships if they get paid now or later--the exception would be the small mom and pop shops.

Fair points, except that a dealership does get paid at time of sale, the financing company buys the car from the dealer (takes title) and then you pay the financing company.  Once the sale occurs, the dealership is essentially done. 
"If I could get all the money back I ever spent on cars, I'd spend it on cars." - Nick Mason

Digital Dogma

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Re: Overheard at Work
« Reply #13645 on: June 14, 2016, 01:55:44 PM »
Sometimes cash/100% at front is cheaper, but many times, they push the financing so hard that it's actually worse for you if you want to pay in cash.  Go negotiate a deal on a car where they think you're financing at 0%, and then tell them at the last minute you want to pay cash, they'll try to renegotiate the deal because they want you in the financing, even at 0%.  They get kickbacks from the financing company to keep you financed, even at 0%.  Can't say I completely understand it, but I've witnessed it.

I found this was true with many of the Subrau dealerships near me, but after many many visits around the state I found one hungry for a sale. When they'd ask about financing I'd tell them "We're not interested in financing" and they'd lose all interest in making a sale. We had a low interest car loan set up through Navy Federal Credit Union but weren't about to let that slip during negotiations. When we got past the negotiation aspect of the deal to the high-pressure sales pitch for warranty and turned down everything, we presented the high pressure salesman with the info he needed to finance the vehicle through Navy Federal. He went through all sorts of affectation that "ooh this will be so much more difficult than financing through us"... isn't that why we paid the dealership a $400 conveyance fee?

Chris22

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Re: Overheard at Work
« Reply #13646 on: June 14, 2016, 02:07:09 PM »
Sometimes cash/100% at front is cheaper, but many times, they push the financing so hard that it's actually worse for you if you want to pay in cash.  Go negotiate a deal on a car where they think you're financing at 0%, and then tell them at the last minute you want to pay cash, they'll try to renegotiate the deal because they want you in the financing, even at 0%.  They get kickbacks from the financing company to keep you financed, even at 0%.  Can't say I completely understand it, but I've witnessed it.

I found this was true with many of the Subrau dealerships near me, but after many many visits around the state I found one hungry for a sale. When they'd ask about financing I'd tell them "We're not interested in financing" and they'd lose all interest in making a sale. We had a low interest car loan set up through Navy Federal Credit Union but weren't about to let that slip during negotiations. When we got past the negotiation aspect of the deal to the high-pressure sales pitch for warranty and turned down everything, we presented the high pressure salesman with the info he needed to finance the vehicle through Navy Federal. He went through all sorts of affectation that "ooh this will be so much more difficult than financing through us"... isn't that why we paid the dealership a $400 conveyance fee?

Why were you worried about being secretive?  Every time I've bought a car, I've gotten a pre-approval from my bank or CU at an interest rate (usually it's about 2.5%) and then went in to the dealer.  When it came time to pay, I've said, I've got this pre-approved check at 2.5%, I'll use that unless you can beat it.  All but one time (when I was buying a used car from a dealer that sold a different make, so I wasn't eligible for their captive finance arm) they've beaten the rate.  What do you gain from keeping your financing source a secret? 
"If I could get all the money back I ever spent on cars, I'd spend it on cars." - Nick Mason

frugalnacho

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Re: Overheard at Work
« Reply #13647 on: June 14, 2016, 02:13:32 PM »
Sometimes cash/100% at front is cheaper, but many times, they push the financing so hard that it's actually worse for you if you want to pay in cash.  Go negotiate a deal on a car where they think you're financing at 0%, and then tell them at the last minute you want to pay cash, they'll try to renegotiate the deal because they want you in the financing, even at 0%.  They get kickbacks from the financing company to keep you financed, even at 0%.  Can't say I completely understand it, but I've witnessed it.

I found this was true with many of the Subrau dealerships near me, but after many many visits around the state I found one hungry for a sale. When they'd ask about financing I'd tell them "We're not interested in financing" and they'd lose all interest in making a sale. We had a low interest car loan set up through Navy Federal Credit Union but weren't about to let that slip during negotiations. When we got past the negotiation aspect of the deal to the high-pressure sales pitch for warranty and turned down everything, we presented the high pressure salesman with the info he needed to finance the vehicle through Navy Federal. He went through all sorts of affectation that "ooh this will be so much more difficult than financing through us"... isn't that why we paid the dealership a $400 conveyance fee?

Why were you worried about being secretive?  Every time I've bought a car, I've gotten a pre-approval from my bank or CU at an interest rate (usually it's about 2.5%) and then went in to the dealer.  When it came time to pay, I've said, I've got this pre-approved check at 2.5%, I'll use that unless you can beat it.  All but one time (when I was buying a used car from a dealer that sold a different make, so I wasn't eligible for their captive finance arm) they've beaten the rate.  What do you gain from keeping your financing source a secret?

I think he means before the sale.  Once you tell them you've obtained a good rate elsewhere, they know they won't be able to make any profit on the financing portion of the sale.  They may actually negotiate down to a reasonable vehicle price if they think they can get it all back by setting you up with a 23% loan.

Chris22

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Re: Overheard at Work
« Reply #13648 on: June 14, 2016, 02:17:10 PM »
Sometimes cash/100% at front is cheaper, but many times, they push the financing so hard that it's actually worse for you if you want to pay in cash.  Go negotiate a deal on a car where they think you're financing at 0%, and then tell them at the last minute you want to pay cash, they'll try to renegotiate the deal because they want you in the financing, even at 0%.  They get kickbacks from the financing company to keep you financed, even at 0%.  Can't say I completely understand it, but I've witnessed it.

I found this was true with many of the Subrau dealerships near me, but after many many visits around the state I found one hungry for a sale. When they'd ask about financing I'd tell them "We're not interested in financing" and they'd lose all interest in making a sale. We had a low interest car loan set up through Navy Federal Credit Union but weren't about to let that slip during negotiations. When we got past the negotiation aspect of the deal to the high-pressure sales pitch for warranty and turned down everything, we presented the high pressure salesman with the info he needed to finance the vehicle through Navy Federal. He went through all sorts of affectation that "ooh this will be so much more difficult than financing through us"... isn't that why we paid the dealership a $400 conveyance fee?

Why were you worried about being secretive?  Every time I've bought a car, I've gotten a pre-approval from my bank or CU at an interest rate (usually it's about 2.5%) and then went in to the dealer.  When it came time to pay, I've said, I've got this pre-approved check at 2.5%, I'll use that unless you can beat it.  All but one time (when I was buying a used car from a dealer that sold a different make, so I wasn't eligible for their captive finance arm) they've beaten the rate.  What do you gain from keeping your financing source a secret?

I think he means before the sale.  Once you tell them you've obtained a good rate elsewhere, they know they won't be able to make any profit on the financing portion of the sale.  They may actually negotiate down to a reasonable vehicle price if they think they can get it all back by setting you up with a 23% loan.

Maybe I just give off the "good credit vibe" or something, but every dealer I've worked with doing this has always taken it as a challenge, if I bring them 2.5%, they're going to get me 2.4% or better come hell or high water.  Given that Subaru dealers are used to working with a reasonably affluent customer base, I doubt they are anticipating soaking anyone with a 23% loan, and I don't believe new car dealers have their own captive financing anyways (it's through the manufacturer or maybe a bank), there's nothing in it for them for a higher interest rate. 
"If I could get all the money back I ever spent on cars, I'd spend it on cars." - Nick Mason

mtn

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Re: Overheard at Work
« Reply #13649 on: June 14, 2016, 02:32:48 PM »
Sometimes cash/100% at front is cheaper, but many times, they push the financing so hard that it's actually worse for you if you want to pay in cash.  Go negotiate a deal on a car where they think you're financing at 0%, and then tell them at the last minute you want to pay cash, they'll try to renegotiate the deal because they want you in the financing, even at 0%.  They get kickbacks from the financing company to keep you financed, even at 0%.  Can't say I completely understand it, but I've witnessed it.

If you pay in cash, they (either the dealership or financing company, doesn't matter) get nothing other than the profit from the sale of the car. If you finance, even at 0%, they at least have a chance at making more--if you miss a payment, you pay a late fee. If you can't make your payment for some reason, they'll renegotiate with you at a lower monthly payment and higher interest rate for longer term. But if you paid in cash? They have no chance at that.

And it means nothing to most dealerships if they get paid now or later--the exception would be the small mom and pop shops.

Fair points, except that a dealership does get paid at time of sale, the financing company buys the car from the dealer (takes title) and then you pay the financing company.  Once the sale occurs, the dealership is essentially done.

Correct, except for the bolded part above (not my words). It is in both the dealer and the finance company's best interest to get you to finance. But you're right, hence the reason why making a cash offer to [most large] dealerships doesn't really help you as a negotiating tactic.