Part 2 of the car debacle

Posted at 14:30 on Wednesday January 31, 2007 | Filed Under Miscellaneous

In Part 1 of this true story, which just happened, an iwillteachyoutoberich reader wrote about his friend, John (not his real name), who got a 17% car loan and didn't realize how much he would actually be paying.

The reader wrote me asking for advice, which I turned over to the readers on this site, and you provided over 40 excellent comments.

Unfortunately, John was so embarrassed he didn't want to do anything about it -- he just wanted to crawl back in a hole and pretend it didn't happen. As he says, "don't make such an ordeal of it...its embarassing enough."

Here's a chat transcript between the two of them:

Iwillteachyoutoberich reader: Let me ask my father what he can do.
John: thats crazy. some laywer guy made a t-shirt that you liked so you read his web site
John: no
[Note: He's talking about my dysentery shirt, available in multiple sizes, colors, and men's women's styles! But I'm not a lawyer.]
Iwillteachyoutoberich reader: One second.
John: don't do it
Iwillteachyoutoberich reader: No I am doing it.
Iwillteachyoutoberich reader: He knows many a lawyer
John: don't make such an ordeal of it
John: its embarassing enough
John: i will call one i swear. haha
Iwillteachyoutoberich reader: No, pride be dammed. Its time to get this solved. I would want you to do the same for me.
Iwillteachyoutoberich reader: No some financial guy made a t-shirt that I like so I read his website... its different.

Stay tuned for the next two three segments of this. They're even more unbelievable.

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getting started

This is a blog on personal finance (banking, saving, budgeting, and investing) and personal entrepreneurship.

It's for students, recent graduates, and other young people.

about me

Ramit Sethi

I'm a recent graduate of Stanford, where I studied technology and psychology. Now I'm the co-founder & VP of Marketing for PBwiki, a wiki startup in Silicon Valley.

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