A Positive Spin on New Year’s Resolutions

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2020 New Year Resolutions

Happy New Year everyone! Another year has gone and we just can’t believe how quickly it went. The year 2020 is here, and at Cassels Garage we are so excited to see what this year has in store for us. In our last blog, we discussed some New Year’s resolutions that you might actually be able to keep. This week we thought it would be fun to give you some resolutions that might be a bit harder to keep but would benefit you in the years to come.  We are so excited to see what 2020 will bring and we hope we can help give you ideas for ways to better yourself this year. Here is a positive spin on some common New Year’s resolutions you may consider this year.

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3 New Year’s Resolutions You Should Keep

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2020

We recently said goodbye to 2019. The New Year is here, and many people reflect on the year before and look forward to the year that is soon to come. Last year has been what one might call “interesting”. There has been plenty of tragedy and destruction going on in the world, but there have also been changes, growth, and happy memories. As many people look back on the past year, they will also start planning for 2020. Many of us have made resolutions, some of which we probably won’t be able to keep come February. Here at Cassels Garage, we thought it might be beneficial to provide the people of Brevard County with some resolutions they can keep and live by in the upcoming year.

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The Alarming Truth About Income Fraud and Auto Loans

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Auto Loan Application

A recent Wall Street Journal article delved into a subject that we at Cassels Garage hear about all too often – car dealers engaging in income fraud. Some car dealers simply do not put the customer’s best interests first, instead opting to approve them for car loans that they cannot realistically afford.

$809/mo Car Payment on a $660/mo Income?

The article uses the example of a woman named Mirna Lopez, who bought a pre-owned 2018 Pathfinder and found herself with a car payment of $809 a month. The problem was, she only earned about $660 per month. How did she get approved for a loan that she wasn’t even close to being able to make the monthly payments on? The sad truth is that the dealer gave inaccurate information about her earnings to get her approved for a car that would drown her in debt. This is called income fraud, and it happens more often than you might think. In fact, about 1 in 5 auto loans contain income fraud. “The consequence for a lot of people is to ruin them financially for five to 10 years,” lawyer Richard Feferman points out.

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