Sandatander USA Natiowide
Your ticket has been created. (no subject) Thu, 08/24/17 Message: Hello my name is ...I purchased a 2015 VW Jetta in April of 2015. Amount Fin. 20,075.00 . I callled my Bank who financed me to get my payoff amount I am going to pay off my car . I have paid to date $13,354.00 not one late Payment. Amount pd. to Principal $3,955.00 Amount pd. to Interest $9398.00. The payoff amount is $ 17,900.. I called again this had to be a mistake! I am in complete shock. The dealership ship got me f*d up ... my interest rate is high .. that high !! I have pd. 24 mo. at 520.00. = $12,049.00 and My payoff amount is $17,053.00 insane !! On the phone w bank she is telling me I have a interest loan.. I accrue Interest everyday !! I am on the phone w the credit bureau I filed a complaint they will call me within 24 to 48 hrs with some kind of solution ... I am in shock !!! My car was only 20,053.00 . I also want to go to the dealership to speak w the finance manager .The offer was a special program, I received a card in the mail to help people rebuild their credit Johnny said that after one year I was to go back into the dealership and refi w a lower interest rate .. I went in Johnny the fin manager was no longer w the co. And no one knew about the program they had in April of 2015 after speaking with Billy the new finance manager . Later on that week I did see Johnny around town . My salesman's name was Jimmy. What can I do .. Thanks hasCustomData: true heirial_id: Ticket created while on: weitzlux.com/consumer-protection/car-loan-usury-unfair-and-illegal-interest-rates/ Powered by LiveChat
1 Updates & Rebuttals
Robert
Irvine,California,
USA
Loans
#2Consumer Comment
Sun, October 22, 2017
Sorry but you are a bit uniformed when it comes to loans.
You are with a Sub-Prime lender because you had not proven you can handle credit. This was either because you didn't have credit or you have stiffed other lenders in the past. As such you are considered a "High Risk" and as such will also have a high interest rate. Oh and the reason you had bad credit does NOT matter.
You have a Simple Interest Loan and with this type of loan you will ALWAYS pay more interest at the beginning of the loan than near the end. Look up any amoritzation table, put in your information and you can see exactly how it will play out.
There is NOTHING illegal going on here. There is NOTHING the Credit Bureau is going to do for you to reduce your payments. There is nothing the finance manager is going to do for you(well other than try to get you into another high interest loan). There is nothing an attorney is going to do for you.
I'm kind of curious as to how much of the $12,000 you have paid should have gone to the principal.