I too, have been hit with an ending invoice of close to $4000, after financing with Arcadia. After 6 years of payments, deferring, maybe 3 payments, 4 at the most, which would total a little over $1000, we are told that the final payment due is close to $4000. I have no idea what they have done, but I am sure it is not legal. I certainly was not informed that this would be occuring.
I have no choice but to try and sell the truck, or trade it in, and take a loss on the value with the payoff owing to Arcadia.
This follows a string of bad experiences with Arcadia over the past 6 years. Starting with setting up automatic withdrawal payments that they never seemed to withdraw on time and then would charge me the late fees.
At one point, they went to withdraw a payment, and for some reason the bank turned it back, only for Arcadia to put a hold on the account and then tell me that they could not receive their payment. The bank told me that the money was there, but with the hold they placed.. (like with a rental car and debit card they hold several hundred dollars that you cannot access)
it ended up being funds not available to pay them.
I was out of state at the time, the truck never left the driveway, full view. Shortly after my return, they picked up the truck. When I called them, they told me that the repo had been processed and that it was because it had to go to the collections department where they investigate the unknown whereabouts of the vehicles.
When I tried to communicate that the change of address had been submitted many times, and then asked to speak with a supervisor, I was transfered to the department manager...
This man proceeded to yell at me, called me names, accused me of trying to slander the department because I was complaining about the failure to process the change of address, and ended with him saying that they would not release the truck until the following week, and in the meantime, "you should think about your misdeeds" and that only if he felt I was being sincere enough or felt that I would be 'obedient' in my follow thru of responsibilities, would they allow me to recover the vehicle.
He proceeded to tell me that it was inappropriate for me to yell, or interrupt him, (i couldnt get a word in, and by that time i was in tears). I contacted my attorney who essentially told me that arcadia was notorious for this and to just 'pay up'.
I finally recovered the vehicle, but of course the credit report was nixed at that point. I recovered the vehicle off the auction room floor, even tho they had told me the vehicle would not be sold for 10 days. It was that 10 day period that I was not allowed to recover the truck, and I can only assume they hoped that by then, I would not recover and thus, they get the truck for whatever profit they can make.
Now, I risk losing the truck yet again.. if I can't trade or sell... I am on borrowed time here.