Complaint Review: Prestige Financial Auto Loans

I bpught this car 7/30/2008 years ago for 19,099.00 with 1000 down.  I have been making payments of 665.32 per month for 4+ years.  In 4 years, I paid 31935.36. 

When I bought the car, I discussed the terms of the loan with a representative of PFS on the phone for quite some time.  I was told this was the type of loan that if paid off early, it would be less than the total paid box on the load document.  A couple of years later I called and was told that no matter when I paid off the loan, all of the projected interest would have to be paid.  That makes no sense to me.  Interest compounds over time and if there is no time, how did this interest compound?  This company claims that all my payments first went through interest, nothing to the principal until after all the interest is paid.

I lost my job and was discussing options with PFS in July.  Once I mentioned predatory lending, they never called again even though I hadn't been making many payments.

Now as I try to pay off this car, I am told I owe over $14,000.   This can't be right.  Yes my credit was bad, but this couldn't equal the rate unless PFS is a loan shark. 

I did hear that Bill Heard Chevrolet (now out of buiness) had multiple lawsuits for predatory and dishonest lendings.  Bill Heard was nation wide and now all are out of business.

I would be satisfied if they would accept 5,000 in payoff.  I have sent 4500 towards the payoff but don't have more and need to sell this car.