Being an independent contractor in America is not easy especially when it comes to loans and signing leases, for just about anything. Unless you are technically a business bringing in 20,000 + per month, you won’t find many companies have done their due diligence to earn the money of the hard working IC’s in America. Even if you are an IC who earns 20,000+ in a month or two, in order to be able to easily sign leases and gain approvals, you had better spend a bunch of your working hours figuring out how to track and record all your income, because for some reason the American financial system is intent on fucking people.
*I’ll do a separate post on how to track your IC expenses, some good software, and the importance of tracking all your expenses, and some ideas for funneling money into your accounts as income to help you prove your IC expenses in another post.
I mean really, I’ve had a job and been earning income since I was twelve when I got my first job. Now, I’m not the one to tell you I make all the right choices, but a large issue comes with the government taking no responsibility for not being able to teach people how to handle finances or really do anything well.
Basically, you have a system where they will offer crazy loans to anyone, then when that does not work out, instead of actually fixing the issue, they just make ridiculous new and difficult rules about getting loans.
then when these people who have not shown years of work experience, which should REALLY be the qualifier,
Like if you get a car note, do you show that your the type of person who will get up off your ass to make 200 dollars a month to pay it. Well, it should not be that hard for this country to establish a freaking “score” for people who have earning history. The credit score is bullshit, it just shows if you took out a bunch of credit lines when you were young and then if you paid them off.
If life happened anywhere in between, or you did not follow this track exactly, well pretty much your screwed. I mean this seems completely dumb.
A) if you show an earning history, odds are you will keep earning. If you are not on foodstamps and checking the box that says Homeless every year, then you are obviously living somewhere, so you’re able to either FIGURE it out, or your paying bills on time. Fortunately, finally there is a company now that actually lets you input your rental payments and it will send them to the 3 major credit bureaus. One example is RentPayment.com
The crazy part about it is that they already ask you on jobs applications if you’ve been on food stamps in the past three months, or on government assistance, why do they ask this, it doesn’t seem like it benefits me to take my time every time I fill out a job application to provide this information, if the government is intent on being completely useless.
If you have been on food stamps and government assistance for 5 years, and are unable to get a job that pays enough for you to get off, and feed your family, then you should probably save up cash to pay for your car, but a person who has shown that for years they are able to work anywhere, at different types of jobs, manage to move around the country, pay for their living expenses, they just should not have any difficulty REGARDLESS of credit history to get a car loan, and if the ONLY company that is putting any effort into fixing this issue is Uber, then most car companies simply are not doing their due diligence.
Really, this is the government’s issue. This should be a simple score, that shows who is willing to get up off their ass to go to work and pay bills, and leave it up to the companies to collect their money, and reposses cars, etc. And yes, I have actually gotten up off my ass to repossess a car.
Are they just that lazy that they cannot seem to figure this out and why is that hard working ICs who actually do work and are probably doing highly skilled jobs that other people either can’t or won’t take, are the ones who get pooped on by this system.
I suppose if we all follow the track of get a job, work at the job for our whole life, pay bills every month, get a house, and whatever, we do not every have to worry about our companies screwing us out of our pensions, potential illness, or potential bankruptcy, or the government taking any responsibility for the lack of financial intelligence in the country by actually teaching anything useful in schools.
All of this is brought up by a recent terrible experience I had trying to lease a car with Paul Blanco Mitusbishi. I had the worst most appalling experience with a member of their corporate team today, in which I was literally told to be quiet and it was my fault because I made a call to them.
Here’s the email I’m sending their corporate office regarding the call.
Paul Blanco Mitsubishi,
I am quite alarmed by my recent experience in trying to lease a Mitsubishi with your dealership.
Not only did I not feel like your team put any effort in actually getting my application approved, but I then received and took a phone call with a person in your corporate office, telling me that they were interested in earning my business. I divulged more information about another way your office could try to approve the application, a little more than annoying to me, because I am an independent contractor who moves around the country and takes jobs with many various companies, including working for myself specifically. I have multiple earnings statements showing my high earnings, and also that I do not have other payments such as rent, etc.
In the meantime, I received yet another call from your office stating that you had good news. I called back and was told that you still weren’t able to do anything on your end about the approval.
You did not earn my business, from the moment I stepped in the door, to this next call.
Next, I was told that the good news was not good news and you actually were not able to find the car I was interested in. Then I was told that your team wanted to try to run my credit, because you had not tried that yet. It’s just too much, you can’t seem to do your end of your companies work, but yet you want to affect me, because you’re lazy.
Wow, so your company prides itself on providing car leases to young Nevadans who are working. But with all the resources at your disposal, and the fact that Uber is now providing car loans to people who are “able” to work. Based off of the simple reasonable idea that if someone has a job and shows they have earned income, plus a job history, it would follow that they would be financially able to pay a simple car note, but yet with all of your resources, money you spend on ads etc, it seems you are still unable to earn my business.
Then when I am on the phone with the person at corporate, expressing my reasoning behind my frustration, mind you, it has been over 2 weeks, that your team has sat on my information, without reaching out to me to try figure out how to do the approval,
your corporate team member seemed completely unaware of my situation, of being an independent contractor,
and if that was not all she literally interrupts me, tells ME to be quiet, and let her do the talking, tells me about letting her assist me,
without even trying in this entire 2 weeks she has had my information to understand at all what my situation is, or to send me one email, leave a message asking me about MY situation,
I told her “yes I would like your assistance now to cancel my application”
Then tells me, it’s my fault because “you’re the one who called me, and if you do not want my assistance fine bye”
Your corporate team member, literally told me, “You’re the one who called me!” like a petulant child.
Well, Paul Blanco Mitsubishi, you did the absolute least amount of work you could possibly do to earn my business, and in fact, you made me a permanent non-customer. I will not ever purchase a Mitsubishi nor will I recommend you, your cars, and your customer service is in top ten of the worst I’ve dealt with.
Congrats on really not being great.
Erin Elizabeth Cotter- PS: I won’t be taking any more calls from your company, please do not call me in reference to this email.
Anyway, all of this goes to show how important it is to choose to work with the right people, because working with the wrong people, whether it is an individual partner, a company, bank or even a school, if you end up working with the wrong people, and trust me I have made some pretty bad mistakes, you’ll be the one that gets screwed even if it’s not your fault, sometimes it will be out of the blue. Going forward, I’m going to try to be more careful than I ever have in reading contracts, reading people, and more. Again, that is why try to be really careful about who I recommend and what products I do endorse and the ones I do not.
And the type of people you should do busniess with are the types of people who will repossess a car with you.