Complaint Review: Central Finance Co.

I purchased a used vehicle at Metro Auto Wholesale (see complaint), and was channeled to this finance company. On the day of purchase I fully insured the vehicle through my auto insurer. Proof of insurance was sent to Central Finance.

After a few months of making my regular payments, I received a notice from Central Finance stating they were adding an insurance policy to my contract as they reported having incorrect vehicle information in their records. I contacted them and they advised me that the VIN number that they had did not match the one on the vehicle due to incorrect information supplied them by the dealer. I sent them a copy of the policy via fax and had my insurance company contact them and advise them that the car was, in fact, insured. They continued to charge me for their insurance, doubling my monthly payment.

After making aprx 6 months of my originally agreed payments they continued to show my account in default. I advised them that I was returning the vehicle to them as they had violated the terms of the contract by adding charges without authorization. They auctioned off the car and they are now suing me for the $4900.00 balance and reported a repossession to the credit reporting agencies.

Dae1
Milwaukie, Oregon
U.S.A.