I don’t like Car dealer just as much like most Americansbut I am also a big supporter of Personal responsibility and financial competence when buying a car. Signing blindly can put you in a life-changing situation. Take the ordeal Ford Maverick Owner is currently in. Detailed in a Reddit post In the subreddit r/FordMaverickTruck, one Maverick owner says buying the small Ford pickup was the worst mistake of his life, and after reading the details of the deal, I have to agree.

The owner says he is 22 years old, makes $55,000 a year and has never bought a vehicle before but “has always had good credit.” Last year they bought a 2023 Maverick XLT Hybrid. The compact car loner is a best seller for Ford since its debut a few years ago, when the Maverick XLT Hybrid’s base price was just over $26,000. Of course, this person didn’t pay that at the dealer: after taxes and registration, he had a Maverick Hybrid for $44,000. It’s getting worse.

As if to soften the shock of how crappy the deal was, the dealer convinced this person to buy the Maverick by telling them they could refinance the car. They agreed and signed on the dotted line for a home loan with 15 percent. In the comments, they mention that they are paying a whopping $950 a month. Now, after trying to refinance the truck a year later, they got more bad news:

“Fast forward to me trying to refinance and get a better interest rate… I’m $6,000 underwater and will probably never be able to refinance.”

They ask for advice and say they feel like their life is over. There are obviously a few things wrong here. First, this person is completely financially uneducated. For example, in a reply to a now-deleted comment, they mention that they had no idea what amortization was.

“I agree, I didn’t even know what amortization was until I bought it. The thing is, the dealership told me I could refinance it and I believe it. That was a blatant lie, even with my 700 credit score. I just tried to apply for refinance with Navy Federal, one of the best credit unions, and was turned down.”

Further down in the comments, it is mentioned that the Maverick was priced at $36,000, meaning the dealer charged a significant markup and ripped them off on financing. They have a 700 credit score but were charged a 15 percent interest rate. Even when my own credit score was between $600 and $650, I was getting a 9 percent APR.

While it may not seem like there’s much this person can do, there’s always a way. Honestly, the best course of action would be to try to sell the Maverick for more than he owes on the loan. In any other situation, that would be difficult, but given the popularity of the Maverick, this person should be able to get close to $30,000 for the truck, if not $30,000. She may not like this option because she wants to keep the truck, considering how she’s trying to refinance, but for now, it’s the best way out. Then she could do what she should have done in the first place: buy a nice, reliable, cheap junker to drive around in.

However you approach it, this person is in a bad situation. While it’s annoying, it doesn’t have to be a life-destroying situation. If anything, this should be a learning experience. They take some responsibility for everything and say, “This is definitely a hard lesson.” But they also say they felt coerced, and that’s why it’s important to go into a dealership with a clear plan of what you can afford and what you want to accomplish.