- Report: #482596
Report - Rebuttal - Arbitrate
Complaint Review: Americredit Auto Financial Services
Americredit Auto Financial Services200 bailey ave fortworth, Texas United States of America
Americredit Auto Financial Services legalized loan sharks calais, Maine
*Consumer Comment: You bought a $23k truck for $35k? Not such a good deal.
* : What is the rip off?
* : Where you lost me...
please becareful who you deal with. back in 2002 I wanted to buy a new truck. I looked around at a sister company that i bought the truck i was in at that time. the truck i was interested in was $23000 . it was a 2002 ford ranger ext cab 4x4 5 speed. the truck i was trading in was a 1997 nissan hard body 4x4 5 spd. the dealer appraised the nissan for $ 7200 but i owed $9300 . the ford ranger had a $3000 rebate and the dealer rebate $2000 which left $18000 to finance . i thought what a great deal so i said i will take it. about 2 hours later the finance mgr ask me to come in his office. he said i had good news and bad. i ask what is the good news he said with lots of work he finally found a finance company to do my loan. but the bad news is its going to be high interest rate . and also we had to roll in your old trade in bal due to all my trade was worth. after that said he ask if i was ok with that i said yes. the truck i was trading the loan was at 10% but this new loan will be 17%. on the old truck my payment was $280 the new truck was $540 amonth. i never looked much over the contract just the things that i had to sign. after i got home i looked at the contract a little more and saw what the cost of the loan was with principal and interest loan total $35000. that was on a 60 month loan. about 2 years later i started getting late on my payments like 2 to 3 weeks sometimes. things wasnt going good on the home front my wife wasnt helping with any of our bills and i was trying to pay all. i had about $1600 a month in bills and my take home was 1900. 6 months later my wife and i was divioced so now was was really trying hard not to loss my truck. about 2 years later on my way to work the truck had smoke coming out from the tranfercase. the next day i ask the dealer what was it going to cost to get it fixed. they said as a great customer only $1600 for a new tranfer case . the truck was out of warranty with 105,000 miles on it. i said i need to call americredit to see if they could add this on my loan. americredit said no we are not a bank i need to see a bank for that. i when to several in my town and they said no because of my credit history and what i owe on the truck is way more than what its worth. i than call americredit back and ask if they could help me out and they said no. also they said it sounds like you can"t afford to maintain the truck. so the next day i call the dealer and told them i cant get the money to fix the truck and ask if they would be interested buying it. they said yes but we only could pay $6800 . i than would have to pay $4000 to americredit to pay off the truck. 2 days later americredit called and asked if the truck was fixed i said no. than they said we have been looking over your payment history and we see you are 4 weeks late as of now. i said in 2 days i can pay a payment . i did a western union payment. 2 days after that they called and said i need to get in my next payment. i said next week in can . they was calling every day to see if the payment was made. on the next week on a thur a woman called from americredit and asked if a payment was made yet i said today i am going to. she than ask where is the truck now i said here in my yard. i ask why she said your truck is on the repo list. i than said if i make this payment today will it still be on there she said not if i get the payment in by western union quick collect .at 12;40 pm i did that on a thur and on the following tue morning a repo man asked me for the keys to my truck while i was at work. he had already picked up my truck and i told him i have a receipt from western union and the payment should of been in there. he said you need to talk to americredit and the truck is gong with me now. i called americredit and they said i should of called after i did the quick collect they never got it untill monday it was to late to stop the repo. i asked how much would it cost to get my truck back they said 1600 . i said thats alot and you are crooks. i than ask what was going to happen to my truck they said in a couple of weeks if i didnt pay it was going to a auction to the highest bidder . 3 months later i get a letter from americredit and said i owe them 6500 more for my truck they only got 4500 for it. i said i could of got 6800 at the dealer why didnt you contact them. i than asked for paper work on the sale of my truck. they said we cant do that you need to pay the bal soon. i only owed 14 more payments so they got 26000 from me in payments and 4500 at the auction i feel they got what was owed on the truck.
This report was posted on Ripoff Report on 08/19/2009 05:09 PM and is a permanent record located here: http://www.ripoffreport.com/r/Americredit-Auto-Financial-Services/fortworth-Texas-761071211/Americredit-Auto-Financial-Services-legalized-loan-sharks-calais-Maine-482596. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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