CAR RENTAL COMPANIES HAVE A TRACK RECORD OF MISLEADING THEIR CUSTOMERS AND OVERCHARGING THEM
Though I typically don’t have a need to rent cars, I did so recently on a few different trips. My experience with Budget made me want to never rent another car again, and this isn’t the first time that my credit card meant carte-blanche to the car rental company.
CORPORATE CAR RENTAL OFFICES VS. FRANCHISE OPERATIONS
Apparently, when you rent a car from Budget, Hertz, Avis, etc., you are possibly renting from the parent company. However, plenty of franchise operations, privately owned and managed, rent out cars under the names: Budget, Avis, Hertz, etc.
AIRPORT CAR RENTAL AGREEMENTS
Once you book a daily car rental rate online, over the phone or through your travel agent, you must sign a contract at the airport. This isn’t easy to understand, because the rental contract invariably adds airport fees, etc., that you may not have seen on the quote. Then, of course, the car style you expected to rent is probably not even available anymore. You are now forced to spend more money and get a bigger, fancier car; or shift down a gear and get a more modest car that costs almost the same as what you expected to rent.
After signing the contract for the car rental, and hopefully not for additional insurance, a big money maker for the car rental companies, you get to check out your new car. In my case, I was given a van that had 25,000 miles on it and seemed very worn out and dirty on the inside.
But before I could leave a little inspector man came out and asked us to look over the car, as he quickly walked around our car and told us there were just a few little scratches on the bumper—he put the little sketch of the scratches on the contract, mumbled a few words in broken English that we didn’t understand, and sent us on our way, as there was a huge lineup of cars trying to leave the Vancouver airport. I looked closely around the car, and pretty much agreed with the inspector, but it was dark in the garage and we were feeling the need to get out because of the long line of cars behind us. The kids were getting antsy.
GETTING CHARGED FOR DAMAGES
As it turned out, we never drove the car, even once after getting it to the hotel in Whistler. The car turned out to be unnecessary. The total charges Budget told us to expect to pay were about $400 for 4 days, including all the airport fees and gas. We were supposed to drop off the car in downtown Vancouver, at the Budget office there, and not at the airport, from where we rented the car.
What an experience the drop-off was. We showed up with the van, having not even driven it outside of the empty hotel parking lot in Whistler, and just driving it back to Vancouver, without any stops along the way. The agent in the Budget office there told us to wait for a supervisor to go out and inspect the Toyota Sienna. After a few minutes, we went outside to meet him, only to discover that the agent found a small one-inch dent at the top of the hood, close to the windshield. A weird place to find a dent. It was barely visible and something we had never seen.
BUDGET’S FRANCHISE OFFICE HAD MY CREDIT CARD ON FILE AND COULD CHARGE ANYTHING THEY WANTED
True…very true. So what should have cost about $400 for a car we never even drove, we were told Budget’s franchise office would charge us now a total of $1,400 for damages. No discussion, and they weren’t turning back. Interestingly enough, the couple behind us had the same experience earlier in the day with the same agent. This was truly a racket, this operation.
AMERICAN EXPRESS PROTECTS YOU AGAINST CAR RENTAL CLAIMS
Fortunately, I had charged the car on my American Express. My insurance agent at State Farm told me to immediately call Amex, stop payment to my credit card, and speak with American Express’ Claims department. I was saved by them, and they started a file, to deal with Budget and State Farm, to find resolution to this. I am not sure that Visa would do the same, but American Express is known for dealing with claims in car rental situations, and they have worked quickly to find answers.
I am now considering a driving trip from my own garage next trip!
If you are shopping for a mortgage now, you have probably discovered that getting a mortgage just isn’t as easy as you thought it might be.
TRENDS IN THE MORTGAGE MARKET:
- Both the 15-(5.42%) and 30-(5.88%)-year fixed rates have gone down by about ½% point in 1 year.
- The mortgage crisis began in 2007, as people failed to pay their loans. This quarter, alone, 900,000 homes are going through the foreclosure process, and home values are the lowest they have been since 2001.
- Loss of jobs—in March, alone, the economy lost 80,000 jobs.
- If you had an ARM (Adjustable Rate Mortgage), you paid a low introductory rate, but rates have soared after 2-3 years, making it harder to pay your mortgage. EX: If you have a $200,000 mortgage and your introductory ARM was at 4% at closing, it might be 7.5% now, after the adjustment period. This costs you almost $400 more per month. Continue reading »
As featured on ABC7 Chicago.
With the real estate market being slow right now, you may be considering some home improvements. But beware of the scams and the contractors you allow to work on your home!
We can all relate to hiring the wrong contractor for our homes, the most intimate place that belongs to us. Getting recourse is very difficult and proving fault is not easy.
MOST COMMON SCAMS
- Asking for $ upfront for supplies, but never finishes the job.
- Bill at the end is higher than originally agreed upon.
- Doesn’t provide a written contract.
- Doesn’t provide in warranty or quote a list of materials/brand names to be used.
- Telling you that your repair issue is urgent so you won’t get other (possibly less expensive) quotes.
- Claiming the material you are buying is more expensive than the advertised price because it is custom.
- Not getting building permit before work begins.
- Demanding final payment before contractor pays subs/suppliers.
- Not correcting problems with the work quickly and without a question.
- Offering you a discount for continued business.
Continue reading »
BANK REFINANCING RATES THE BEST IN 50 YEARS
That’s what you see over and over in the press. True. Yes, the cash-strapped can win big when refinancing right now, saving money over the life of your mortgage, or so we’ve been led to believe. But wait. There’s a catch. In effect in most states now:
APPEALING YOUR REAL ESTATE TAXES WILL NOW REQUIRE YOU TO GET AN APPRAISAL, OR TO SHOW ANY APPRAISAL YOU HAVE GOTTEN IN THE PAST THREE YEARS
Wow. So if you have had your home appraised for refinancing purposes, that appraisal will come in most likely at much more than what you paid for your house possibly years ago. Your higher appraised home will hurt your ability to now get your real estate taxes lowered, ever. Especially if you get all the way to your appeals court. The counties will do anything to get revenue and property taxes are one of the best ways to recover the financial losses over the past few years.
HOME APPRAISALS MEAN A HUGE GAMBLE IF YOU WANT TO EVER TRY TO APPEAL YOUR ALREADY HIGH PROPERTY TAXES
Counties across America are getting smarter. They are coming down hard on people who claim they are overpaying for taxes relative to their neighbors. Too many people are hiring too many lawyers and the courts are overflowing with real estate tax appeal cases. With states and counties feeling cash-strapped, they are looking for any way to collect more taxes. Your county knows that if you are required to submit your appraisals done within the past three years you will be less likely to try to get your real estate taxes lowered.
Something important to consider when deciding whether or not to refinance. Don’t learn after the fact.
With the real estate market being in a slump right now, buyers can take such advantage of their strong bargaining position! Trusting the broker can be the hardest part of buying a house. Being a prepared home shopper can be the best bargaining tool you have.
The most important thing you need to do as a buyer is hire a highly skilled inspector. Most homeowners in the state of Illinois require you to have an inspection within 10 days of signing the contract. This doesn’t give you a lot of time to find an inspector.
COMMON MISSTATEMENTS MADE BY REAL ESTATE BROKERS:
- “The mechanicals have all been recently replaced”,
- “This item was just repaired”,
- “The house is environmentally safe.”
Continue reading »
