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Report: #309971

Complaint Review: Peak 5-FlatIron-Centrix - Centennial Colorado

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  • Peak 5-FlatIron-Centrix Centennial Colorado Centennial, Colorado U.S.A.

Peak 5-FlatIron-Centrix Discouraged and Disillusioned Centennial Colorado

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I purchased/financed a car thru Centrixl, who changed to FlatIron and is Peak 5. Not sure why they changed hands 3 times in a 2.5 yr period but they did. I payed $543.59 a mo for a car that is valued at $18,000. I have been paying this pymt for 2.5 yrs totalling $16,000. With tax/etc I financed $23,000 and paid for 2.5 yrs I have only reduced my principal by $5,000, this means that I have paid $11,000 in interest with Peak 5 and I still have 3.5 more yrs to go....which means that they will collect over $20,000 in interest on this car loan.

But here is the real story. I have been paying my car payment faithful every mo never allowing myself to be late by made 2-3 days depending on where my pay day fell. But with this co. if you are late 1 day you are late and its the same as being 20 days late....1 day is just as late as 20 days. Every time I get a statement I see that 300-400 goes to interest and just over 100 or so goes to principal. I was told I pay $9.80 a day in interest but I still can't figure the math when making my payments. I requested a deferment in Dec.07 needing $ for Xmas, I was actually declined a deferment but was never told this was possible and that I should follow up. I faxed the papers back...called to confirm receipt and was told everything was fine. Keep in mind when you are 1 day late in paymnt they begin calling you demanding payment. So when my Jan statement arrived on the 10th I was shocked to see a double amt due for pymt. I called and was told my deferment was not approved. I immediately made pymt arrangements they took a payment the next night from my checking acct. I scheduled Jan pymt and they took it 2x's from my acct. I fought with them a wk and half to get my $553.59 back and I had to prove to them they took it. Imagine! It took 8 days to get my $$ back from them and in doing that my bank WF found their error and pull the other pymt back on 02/08/08. Now they want me to pay interest from 1/11 to now rather than when WF took the 2nd pymt on 02/08. Which means that $533 goes to interest and $10 goes to principal. This means that if I opened my front door free money in the amt of $533 goes flying out the window on their error. I have tried to reason with them but no such luck. I was told they wouldn't consider back dating interested until they had a pymt and then there is no guarantee it will be approved to give me interest back. They do what they want to strong arm into paying. I am totally being penalized for their error. If they had just taken the right pymt 1 x from my checking acct this would not have started this downhill spiral of conversations, tears and frustration on my part. One supvr there told me I didn't have to act like a B**** to get this resolved. Imagine...being spoken to like this. Never once did anyone apologize for holding my $553.59 hostage for 8 days just luck I had my IRS refund in there to keep from bouncing 14 items. I was luck in that case, but still. I have prayed and prayed for a solution and today I called them to voluntary surrender my vehicle. I can't afford to be mistreated or live in a state of frustration like this. But of course, then I am a good customer.....and we hate to see this happen. But no apologies or solutions offered to help. If they would have offered to cut the interest in half I would have continued in good faith. Subprime car loans are not worth it....never do it. I traded in a car that was paid for thinking I deserved a new car and now all I can think about is that if I had kept that car and put the same $$ into it. I would be a happier person. thanks for listening!

Keena
fort worth, Texas
U.S.A.

This report was posted on Ripoff Report on 02/18/2008 08:14 PM and is a permanent record located here: https://www.ripoffreport.com/reports/peak-5-flatiron-centrix/centennial-colorado/peak-5-flatiron-centrix-discouraged-and-disillusioned-centennial-colorado-309971. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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