Dh got a approve for a loan from Amni or Ammi for $4,500 and this is for the car that "we" wanted to get because the one he got right now is about to die pretty soon. The money got put on hold because they want us to pay the two CC we have now in full like ASAP. We already paid them but it takes a while to clear. Dh never sign any contract from them yet other than the application applying for a loan. I told him today to call the guy who got the car and tell him that if we don't have the cash to pay for it in full we don't need it right now. I agreed with him at the beginning about getting the car I was excited about it as matter of fact but right now I'm having a second thought about getting that loan. We are not furthur in debt we have about $8,298 right now (excluding the van) not too concern about that one because its automatic. We are dealing one debt at a time. I'm not trying to make DH the bad guy by making him call the guy who sell the car to forget about it. I did told DH to tell him that since we are going to be in the area for a while and in about 8 months if the car still be there we will get it and pay for it in cash or if he has another car in reasonable price we will talk to him first before going to someone else. I"m just backing out now because with our income the way it is its hard to save for emergency fund and get groceries at the same time. Its cutting it short. Plus God knows how much the interest is going to be. DH is worried about what the people in Amni is going to say about him applying for a loan then turn around cancel it. I told him basically that he has not sign any contract from them yet other than to apply for a loan and got approve that's it.
With our financial situation right now even though we are not doing that bad we dont' need another loan or debt coming in. Our original plan was to pay everything by early next year and getting that loan will only hold us back another 6 months. I can't wait that long. We are putting around $100-$200 every two weeks in the our savings for emergency fund right now without that new loan. So imagine if we do get that one now. WE won't be saving at all and what happens if unexpected things comes up where do we get the money? get another loan? I don't think so. I know we give the guy his hopes about getting the car and I wish I knew about this before and I'm a nice person and I'm feeling bad right now because I was for it at the beginning until everything got approve. I'm so confuse right now if I did the right decision yet I'm concern about the guy's feelings. If was in the business of selling cars and get my hopes up then turn around crush it I would be upset too. Not to mention we had two bases that were closing so his business with those two are gone. I guess this area is the only one he's got left and we are about to close in about a year. But his not going to be paying the debt WE ARE so I hope he understand. I don't know how Germans feel about this kind of stuff but he dealt with a lot of Americans before in the past I'm sure he's used to it by now but still I'm feeling bad about having DH call the people we get the loan from and this guy. I told him I would call but he said he would do it. I know I crush DH dreams too about getting this car (1991 BMW) its in a good condition. Only had two owners from the past and has a 62,000 miles on it. Having DH drive our van when his dies for about 5 months won't be that bad we are going to save money at the same time to pay for the car in full. I'm a dream crusher! Dh thinks now that since his going to cancel the loan (the money is not in our account yet) those people are not going to deal with him in the future that or its going to affect his credit score I hope it doesn't affect his credit score I mean all he did was apply and got approve. Never sign anything in paper other than the application. Its partly my fault too because I waited too long until it got approve but I was ify about it at the beginning yet I did agree but since I'm a nice wife and I saw how excited DH was I went along with it until now God I hate feelings like this because I won't be going to sleep tonight thinking about that poor guy and Dh how badly I crush their dream. I hate feeling guilty. Sorry if this is long.

Update:

I just talked to DH a while ago and he said the guy hang up on him because he said he went through all the hoops and bending backwards for us and this is the end result. I guess our business with this guy and Amni is shot. Making me feel guilty even more I hate being so nice all my life and I hate having feelings like this. Why did my parents raise me to be nice all the time? I hate when people run all over me yet I still have a soft heart . Good going Maria :-(

Why would you want to do business with a company who treats potential customers like this? Reputable loan companies do NOT make statements like that. I really can't stress that enough. They are not loaning you money as a favor to you, they are doing it to make money. I would run as far away as I could from this company and shop around until you find one that values your business.

Blue sky...I really don't think your husband fully understands loans, credit, and debt. in general. Did he even get an interest rate or did the company just say that you were approved for a loan? In the last three posts about the secured credit cards, loan to pay off other debt., and now this one about a car loan, you have never once mentioned the interest rate you would be getting.

That said, I really think he is trying to do the best for you guys, but I think he is being influenced by lenders that prey on ignorance.

PLEASE, PLEASE, do some research on your own before signing a contract with a lender and taking on more debt.

Isn't your dh in the military? Have you tried USAA?

I would feel uneasy being rushed into a deal on a car regardless of the circumstances.

As for your credit score it should not affect it. Just make sure you check your credit report in a couple months and make sure that loan is not on it. The most you should have is the credit check for the loan by then.

Sometimes you have to put your hearts desire on hold, it's not wise to put all your money into a purchase and have no way to handle emergencies if they come up.

I think you did the right thing.

We have USAA but DH thinks he knows a lot of things I don't know anymore honestly. All I want right now is stick to the original plan with paying our debts early next year. That's it. Getting another loan to pay for all our debts was a stupid idea then all of the sudden DH came to me and said "Gee honey, my car is about to die would you want me to walk in the rain and thunder?" I felt guilty about that one so I just said "fine" but never realizes that it would get us into a bigger debt. I swear I don't know. I'm holding everything back and trying to shut my mouth because I know DH earn the money and not me and sometimes I feel guitly with that too. Its like I don't have a say so because I don't have any income coming in anymore. DH wants this and that but he never realizes things that will get us into a deeper hole. He pursuades me about getting things and he hopes that I would agree. He keep asking and asking until I give up. Its hard sometimes but we are working on it. He agreed that we need to do Dave Ramsey's FPU but he keeps changing his mind and making me change my mind too. One day we would be in the same sheet then the next day he sees something he likes then he tries to change my mind then the next he would say "ooh I don't need it" its a cycle with him. Then he tells me "ohh I'm going to live with your for the rest of my life so I think its okay if you say NO" Ohh yeah, he can't do USAA because he made one late payments when his pay was messed up back in 2003 and they won't let him get a loan until that one get erase from his records. I don't think he can even apply for a credit card with USAA. I don't think I can even though we have an account with them.

Blue - How much do you have in your emergency fund?

Right now we have $200 in Emergency fund. Still building up that's why I changed my mind about the loan.

Yes, I think that you made the right decision. I would look at getting your Emergency Fund, the BABY one, fully funded. I'd recommend $1000. Quit paying extra on debt until it is fully funded. That way you have the money to make "bandaid" repairs on the car. Then start dumping everything you can on your debt.

I get second thoughts about things too. It's like all of a sudden I have had time to think about things and now I realized I was wrong.

You can do it. Concentrate on the Emergency Fund first!!!

Blue Sky,
You definitely did the right thing. You and your husband seem to make a good pair because you balance his rash decisions out quite well with your calm reasoning. This is your niche in your relationship. You have a good nose for the crap that these predatory lenders are feeding to you husband hand over fist. Keep going with your instincts in these situations...yours are good...your husbands are not, and keep trucking along with your original plan.

Build your emergency fund.

Pay down the existing debt.

Don't take on any more debt.

You might want to also work on getting whatever late payment happened in 2003 off your credit. USAA is a fair, helpful, informative, lender, (we use them for lots of things) and you would be doing well to be in their good graces IF you do decide to get a loan for a car when all your other debt. is paid off.

Good luck!

The only people you need to worry about right now is you and your dh. The others are in the business of trying to get your money. Pay the debts off and you won't have to feel like this anymore. As for the guy that hung up on you dh, he mad because he's not going to get the commission he was hoping for. He's very unprofessional and I would never deal with HIM again.