Steve
Portland,#2Consumer Comment
Thu, July 01, 2004
Sounds like you are paying about 25% interest. You seem surprised by this, so you probably didn't look at all the paperwork you signed when you first bought the car. If you continue paying on this to the end of your loan, you will pay over $10,000 in interest! Refinancing should be possible. Talk to a local credit union or bank that could give you an interest rate under 10%. You said "CPS claims that they do not have the license to refinance my car". that's BS. Once you refinance at another institution, your loan to CPS will be paid off and they'll be forced to send the title to the new lender.