- Report: #76101
Complaint Review: Arcadia Financial - Carol Stream Illinois
-
Author Not Confirmed
Why?
Arcadia Financial
PO BOX 4367 Carol Stream, 60197-4367 Illinois, U.S.A.
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Arcadia Financial RIPOFF! If Arcadia offers to finance turn them down and get a tin cup to pan-handle, you'll be better off. Carol Stream Illinois
In June 1999 I bought a new house and needed a new car, so I got an affordable 1997 model car for $10,500. Since I purchased a house two weeks earlier not too many people wanted to finance me, along comes Arcadia to the rescue. They offer me a great rate of 18% (sarcasm), so I took it. It was a 5 year loan.
Now after 4 and a half years I still owe 5,000 on it. How? I have made 50 payments of 268.00 shouldnt the loan be almost paid off? My payments are due on the first, as are ALL of my bills. If I don't pay by the 5th they call me at home, at work (which is illegal) and if I don't pay by the 15th they call everyone who I put down as a reference, they lie about conversations, and refuse payments on occasion saying it's too late to make a payment and I must double up if I want them to take them. If anyone ever offers to finance you through Arcadia turn them down and get a tin cup to pan-handle, you'll be better off.
Rich
Elkton, Maryland
U.S.A.
Now after 4 and a half years I still owe 5,000 on it. How? I have made 50 payments of 268.00 shouldnt the loan be almost paid off? My payments are due on the first, as are ALL of my bills. If I don't pay by the 5th they call me at home, at work (which is illegal) and if I don't pay by the 15th they call everyone who I put down as a reference, they lie about conversations, and refuse payments on occasion saying it's too late to make a payment and I must double up if I want them to take them. If anyone ever offers to finance you through Arcadia turn them down and get a tin cup to pan-handle, you'll be better off.
Rich
Elkton, Maryland
U.S.A.
1 Updates & Rebuttals
Lourdes
Valrico,Florida,
U.S.A.
see if they have added some other fees
#2Consumer Suggestion
Wed, December 31, 2003
In defense of auto finance companies all over the nation, if you purchase a vehicle for $10,500 at an 18% interest for 60 months, the payments should be approximately $262.00 a month. The total amount financed is about $16,080. Now, if you have made 50 payments at $262 it comes to $13,100. You should owe $2,900, Your contract should detail what other fees were added to your loan ie, forced placed insurance, late payment, disability, warranty, GAP insurance, etc. So I would recommend that you look at your contract again, and see if they have added some other fees to your contract. If you still think that you have been wronged, you should call them and ask them for an explanation. Good luck!!!!
