Transouth Financial, citifinancial ripoff, charges high interest rates and applies no prinicipal to payment balance for 3 or 4 years Minneapolis Minnesota
I purchased a car in 08/2005 with a 14.8 interest rate. I noticed that on my payment slips that if I make my monthly payments of $425.00, none goes toward principal. When I called Transouth regarding this, they said this is what they do and, I would probably be paying interest for the first 31/2 to 4 years before paying on principal. This is a ripoff and, it does not pay to purchase anything from them. They are unethical and, I will never purchase another car with them.
Debra
brewton, Alabama
U.S.A.