Robert
Irvine,#2Consumer Comment
Tue, February 03, 2009
You had a Credit Score in the Mid-500's and still got an interest rate of 15.9%. You should be on your knees thanking Citi, as most people in your situation would be lucky if they got a 20% rate. It is not Citi's fault that you didn't understand what you were signing. You should have done all of your "research" BEFORE you bought the car. You knew enough to know your credit was not the greatest, yet you still went for the 18K car. What were you expecting 5%, 2%, or heck even 0% interest. In fact you may even be thinking that they should have paid you to take the car. Contrary to what you may think, banks are not non-profit organizations. They are taking a risk in letting you borrow almost 20K. If you look at an amortization table at the end of your loan you indeed will be paying a total of about 10K in interest. So they are not charging you anything extra or did not even appear to be hidden.