I just bought a nice truck- woohoo! It rides so smooth. After driving a crappy car for a couple of years, it feels good. I really didn’t think I would qualify for a car loan because I haven’t worked in over a year due to a back injury. But, even with a meager income from SSI, and no credit whatsoever for over seven years, I qualified for financing from Economy Auto in Knox, Indiana.
But what about the rest of it? Do they stand behind their vehicles? I’m going to get into all the particulars about my deal with them, and let you decide for yourself.
I bought quite a few cars in my life. I’m 51, and was a truck driver for about 30 years. Before that, I was a mechanic. So, if there’s one thing I know, it’s driving- cars and trucks. In fact, I started a website way back in 2000, about city driving safety. I wrote a regular column for Ten Four Magazine for ten years, and all my articles about city driving led me to be considered somewhat of an expert in a field which I created.
I had good credit for many years, before it went bad. And this is my second time attempting to rebound from some bad credit history. In 2004, I decided to live without credit. I let a few credit cards destroy me. The debt was too much for me. So I moved into a cheaper house and tried to cut some corners. I had a big idea that I could live debt-free, without any credit, ever.
Well, that was easy at the time, since I already had two nice vehicles (a car and a truck), and a job. But as the years went by, those vehicles fell apart, and I found myself driving junks for the first time since I was a young man.
Then, in 2010, I hurt my back (five herniated disks), and could no longer work. After struggling through a long recovery period (I’m still bad off, but at least I can walk around pain-free now, thanks to Jesus), I could no longer work on my junky car. I had to have a better one. I decided that I did after all need some credit. So much for living debt-free.
I searched the internet for some easy financing, but they all wanted me to have a job, and some credit references. I had neither. In fact, I stopped at a Buick dealer and when they ran my credit report, the salesman told me he had never seen a credit score of zero before. That was weird, I was a zero.
Then I went to Economy Auto in Knox.
All I had was $300 to put down, and the only reason I had that was because I scrapped my old truck. So I was really surprised when they agreed to finance me.
I carefully went over my budget and concluded that I could (barely) afford a $300 a month car payment. I explained that to them and they let me choose from several nice cars and trucks.
Whenever I buy a used car on credit, I’m always a little nervous because you never really know if the engine is going to blow next week or something else major.
As we wrote the deal, I was pleasantly surprised by a few things. They give you a seven-day 100% guarantee on any repairs. So if anything blows in the first week, they’ll fix it. Then, after that, they give you a 6-month, 7500-mile 50/50 warranty on just about everything. Well, that was a major relief.
Then, they went a step further and told me about certain ways I could get my car payments paid! If I refer anyone I get a free car payment. If I pay on time, every month I am entered in a monthly drawing for a free car payment, or maybe my entire loan paid off! And, every once in a while they have a picnic, where they draw some lucky car owners name and pay the whole loan off! I’ll be at the picnic for sure! If you wind up buying a car from them, meet me at the picnic.
Six months from then (after my warranty ends), I’ll be nervous again about something major blowing. But you know what? It’s OK, because they do their own repairs on-site. So if anything does blow, I’m going to bring it to them to fix. They will just add the bill to my payments. How sweet is that?
You might be wondering by now- do I have anything bad to say about them? The only complaint I have is that they do overprice the cars a bit. But you expect that when financing. The good news is, I’ll have it paid off in two and a half years. And if I’m never late on a payment my credit will be good by then and I can choose to buy my next vehicle anywhere I want to.
My final conclusion is this- Economy Auto in Knox is a great place to buy a car! Here is their website.
Make sure you tell them Ken Skaggs sent you.
If you want to ask me anything, email me at firstname.lastname@example.org. I will always tell you the truth. Remember, I am just a regular guy like you. I won’t steer you wrong. I’m an old-school truck driver, who likes to talk to other drivers and help each other stay informed.
By the way, they have an A+ rating from the Better Business Bureau.
My name is Ken Skaggs, and you have my word on that. Contact me below if you have any questions or comments.
UPDATE: Good news and bad news… I am just about paid-off on my truck! I have about four payments left. (I can’t wait!) But my transmission blew out suddenly the other day. Ouch! I could still drive it, but no reverse or high gear. I didn’t have the money for a repair like that. I took in to Economy Auto and explained. Without hesitation, they offered me a loaner and said their transmission guy would fix it and I could make payments on it. What a relief. But now, I’m scared of a $2000+ bill. To my relief, their transmission guy is honest, and very good. They took out my trans, and replace a few do-hickies inside, and the bill was only $800. (Whew!) How many trans shops would pull a trans a “rebuild” it for that? I think most of them sock it to you.
I love Economy Auto and will buy my next car from them. If you do too, tell them Ken Skaggs sent you!
UPDATE: 7/05/2015 I just bought another car at Economy Auto Sales. It’s a beautiful 2008 Buick LaCrosse. I have three years of payments to make now. But I did some research, and even after it’s paid off it should still be worth about $5000. I think it was a sound investment. Now I just pray it stays running good all that time! But if I do have problems, it’s nice to know Economy Auto has my back and will help me out.
Ken Skaggs is a 30-year veteran trucker and safety professional, who has always been a writer, and an entrepreneur at heart. Since 2000, he’s had 150+ articles published by Ten-Four Magazine, Careers in Gear, Driver Story Magazine, and dozens of websites.