Complaint Review:
Instant Car Credit Northpoint Motors Magnum Finance
Instant Car Credit, Northpoint Motors, Magnum Finance Magnum finance charged me over 5000 just in interest Traverse city, Michigan
-
Instant Car Credit, Northpoint Motors, Magnum Finance
pob 68
Traverse city, Michigan
United States of America
-
8889336254
Web:
-
I could not get a loan thru a bank to get a car so I went to northpoint motors/ Magnum Finance. I was sold a subaru which is a nice car, I had gotton one from them years ago long before Magnum Finance was even thought of. But the car went to pieces soon after I bought it I told them to come and get it.. A few years later I filed bankrupcy because of itdenity theft. Well even with bankrucpy they are still tryin to collect on that car. Telling me that it was filed on instant car credit so therefore since Magnum now finances the cars they have every legal right to collect on that debt since it was not filed on that name. I didn't know this until I bought another car. Cause years ago there wasn't all the high interest and they made a good deal. But now its one big A** rip off. When I got the subaru it was on sale for 5500.00 its a 1998 and had over 100,000 miles on it. By time they got done with the paper work and such when I left the car lot I owed them 11,000.00. Thats pretty damm steep for a old car. My payments was 135.00 every two weeks if there was 28 days in the month if theres 31 then you have to make an extra payment or your considered in default. This place needs to be regulated they are takin advantage of people and makin a killin on old cars it needs to stop...
1 Updates & Rebuttals
Jim
Orlando,Florida,
U.S.A.
Look No Further!
#2Consumer Comment
Sat, October 24, 2009
You did a PERFECT job of describing yourself as a sub-prime borrower. Sub-prime borrowers pay high interest rates because they made themselves a credit risk. You had a repo and then went BK.
Those of us who have good credit don't pay high interest rates. The solution is for you to START paying your bills ON TIME!