NOTE: Sorry for the length, it’s a Sunday evening rant.
Initially my thought this year was to purchase everyone on my Christmas list the same thing this year. Not because it would make my life super-easy but mainly because I feel that no matter what position you are in financially, it’s a good read and something I know we have benefited from going through. Ultimately though, I decided against it. It is a sensitive subject to approach and it would be far too easy to have somebody think I was calling them out.
One of the things that we have been striving for since taking the class is to live differently than how we use to live (much less how 70% or more of America lives). Accruing debt. Sadly, I could have used the lessons long before I entered college and we surely would be much farther ahead at this point in time.
Either way, one of the things both the book and the class talk about is being a slave to the mindset of “we’ll always have a car payment.” While not easy, we are working towards training ourselves to think differently than this approach.
In thinking differently, I tend to see auto advertisements differently as well. “$49 down and pay the payments on the window!,” is ingrained in my head now due to the fact that we see this one particular ad locally about every other commercial break. On every channel. Seems like a smokin’ deal, except for the fact that you just bought yourself 60-72 months worth of monthly check writing.
$49 down and pay the payments on the window!
By now you’ve surely become aware that the the major American automakers are begging on Capital Hill for some free money to help keep their businesses alive. While the thought of any of them going under could hurt our economy pretty badly, I don’t see a blank check bailout as a good idea. Go figure. Put some steps in place to show me how you are going to work to fix the problems on your end, then we’ll talk about pitching you a bone.
Today though, I was caught off guard by an ad that I had never heard before. As we were pulling into the driveway this morning after picking up some lunch, a local Ford dealership radio advertisement caught my attention. Rodeo Ford of Dallas was offering some great deal over the airwaves mostly to which I tuned out. At the very end of the commercial though, one small tidbit caught my ear. This particular dealership was offering 100 free shares of their parent company’s stock with the purchase of any new car. Not convinced of what I just heard, I questioned the wife to make sure.
Did they just offer 100 shares of Ford stock if I give them some 15k-50k dollars? Really? Isn’t this the same company that sent its CEO twice in the last 7 days to Washington to plead for money to keep from bankruptcy? The same company whose stock is currently selling for $2.08 cents per share and has a 52-week high of $3.27? Am I incorrect in my math that for being willing to give them a minimum of $250/month they will throw in a piece of paper worth $208? With not much hope of that piece even being worth $327 within the next year? And just as possible that within the next 60 days, your $208 piece of paper could essentially be worth nothing?
I’ve got to know if anybody is really buying into this? Surely there’s not one person in the area that’s heard this commercial and thought, “sweet, free Ford stock!” Sadly, I’m pretty sure I am probably wrong.
Sweet, free Ford stock!
Rodeo Ford, you want my business? Make better cars, quit trying to pull one over on me when I attempt to buy them and for goodness sake if you’re offering free stock, please give it to me in a company that I could at least stand a chance to make some money on. Like Toyota.
NOTE FROM THE MANAGEMENT: It was brought to my attention that after editing one too many times last night, I removed the title of the book mentioned above and forgot to add it back in. For those interested in reading and ultimately getting your finances headed in the right direction I would recommend either Financial Peace University or The Total Money Makeover by Dave Ramsey. Easy to read and full of common sense. Bonus: All of his books, DVD’s and CD’s are on sale right now for $10 a piece. Get one. Or ask and I may add it back to your list.