GM FINANCIAL AMERICREDIT DERRICK AND LOLITA Snow we purchase a car for $25,729 made 11 payments of $585.96 and only $2100.01 came off the balance ARLINGTON Texas

I don't blame you in the least for your frustration or for feeling like you have been screwed. Because you were. The car dealer should have advised you of other alternatives and you should have been advised that you would end up paying 3-4 times more than the car was even worth if you signed with this finance company.

Only finance companies and fly by night lenders are disreputable enough to charge an unreasonably high interest rate on auto loans, add fees without expanation,charge late fees twice, wait till payment is late to post even though bank records show received on time or even early, and worst of all, there is no record of the amount of loan decreasing.

When you have an auto loan through a reputable bank then the interest rate is manageable, you actually see your balance going down, late fees are not added to both the monthly fee and at the end of the loan, they will work with you if the due date needs changed, if extra time is needed and they will refinance if you have maintained a good history for at least a year.

From experience I can tell you that finance companies are only good for personal loans (of small amounts), do not use them for auto loans, you will get screwed every time. I will only deal with local finance companies. They seem to care about the communities they work with and try not to take advantage of consumers.

These finance companies do not like providing an accounting of payments, fees charged, they also do not like it when you ask them to produce these records.

Yes the interest rate can be high but every time you make a payment the balance actually goes down (unlike loans through Americredit or GM Financial) and they don't penalize you for paying them off early.

Here's is a piece of useful advice: If your credit ins't that great but you need a reliable vehicle, get a co-signer with good credit to help you get a loan from a BANK! Make all your payments on time or early for a the first year and you will probably be able to refinance, get the co-signer off the loan and get a lower payment.

This has to be a fake report.  Because no one can be that clueless to not know that when you borrow money you have to pay interest?  Where the worse your credit is the more interest you pay.  I really would love to know how they didn't explain this to you when you bought the car.  Or did they just stick a blank piece of paper in front of you asking you to sign it?

This is the way ALL car loans work.  You have a set payment and in the beginning of the loan you pay a majority of your payment to interest.  However, because it is a set payment as you get near the end a majority goes toward the principal. 

If(oh I mean when) you make it toward the end of your loan I bet you won't be here complaining that most of your payment is going to principal and very little is going to Interest.