A family of three came to us with a unique situation. A dad bought his son a vehicle before he got his driver’s license. He wanted to do repairs and replace some parts on the truck and thought it would be a great opportunity to show his son how to work on vehicles. This also gave them meaningful father-and-son time.
A few months passed, and the son started driving. All was good with the truck — until two weeks before Christmas, when the transmission went out. There was no way the dad could afford to buy a new vehicle. Both the dad and son were stressed.
The dad called in to see what we could do. He explained that he had put a lot of money and time into the truck and did not want to get rid of the vehicle. We were able to restructure his Signature Loan and provide the funds needed to replace the transmission.
As a result, we were able to save him 18.51% and more than $4,265.27 in interest.
