ED Magedson – Founder
Consumer Portfolio ServicesInternet USA
Consumer Portfolio Services AKA CPS Their interest for car loans is a ripoff - DO NOT FINANCE A CAR WITH THEM!!!! Internet
Their interest is outrageous. My final payment was last month and I was advised that my interest was still $1018. However, I have been paying late fees with them since 2007, at $149.00 per month. I had to change my due date back then, because my rent was due on the 1st and so was my car payment, and they never allowed me to switch my date back.
I haveno idea why I still owe $1018 on a car I have been pay for 7 years already. I will never finance through them again and I am telling everyone to never ever finance through them.
I learned a huge lesson, I should have refinanced this car years ago once my credit became better. The only reason I am paying the $1018 is because I dont want it to affect my now good credit.
I wish that I was just denied a car loan 7 years ago, and would have got a cosigner. :(
Also, their customer service is the worst, their collections is just rude, and they call you super early in the morning. Never again will I finance with them. Everytime I get off the phone with them I feel stressed, and they are not worth it.
Trust me, Ive dealt with their s**t for 7 years. Do not finance with this company! They have ripped me off to the max.
This report was posted on Ripoff Report on 07/02/2013 07:59 AM and is a permanent record located here: http://www.ripoffreport.com/reports/consumer-portfolio-services/internet/consumer-portfolio-services-aka-cps-their-interest-for-car-loans-is-a-ripoff-do-not-fin-1063786. 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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