CNAC Financing - J.D. Byrider Car Repoed Before Deferred Down Payment, Told to Bring Payment and Repossesion Fee to Pick Up Car Then Denied, Please Help Mishawaka Indiana

Hi Concerned Reader,

I recently went to J.D. Byrider hearing that they had deferred down payments. This was particularly appealing considering I had to have a car in order to get to my job.

Let's Start with the first two lies:
1.) I was told that no car on the lot has a down payment of more than $600.00. When I went in to sign my papers I found out the down payment would be $900.00. Being desperate I hastily agreed and payed $200.00 up front and was informed I would have to pay the sum of the rest of the amount before my first actual payment. They set up that I would pay $200.00 with my next paycheck and $250.00 the two following bi-weekly paychecks.
2.) The salesman also told me that no car on the lot had a payment higher than $160.00 bi-weekly. My actual payment turned out to be $178.00 bi-weekly.

Since the salesman had told me I had until my first actual payment to pay off the deferred down payment, I missed the first scheduled deferral payment because of the fact that my rent had to be payed that week. Remembering what the salesperson had told me, I thought this would be no big deal and started scrounging money to pay this amount on Thursday of the week (The deferred day was a Monday).

To my surprise I woke up Thursday morning without a car in my driveway. It had all of my work supplies not to mention my cell phone charger and other small yet important items. I walked down the road and called CNAC to see why this had happened. At this point they told me I could not wait to pay the deferred down payment and it had to be paid in full on the day set. Eventually, I talked to the Financial Supervisor who said if I brought up the $200.00 plus a $350.00 repossession fee that he saw no reason why I wouldn't be able to drive the car home.

I scrambled and got a ride an hour away to the dealership and met the Financial Supervisor who had an underwriter on the phone for me. The underwriter asked if I had driven the car for work and I said yes. They then informed me that I could not take the car since it was being used for work purposes. The third lie really stung. Fortunately they allowed me to retrieve all of my personal and work property from the car after waiting an hour and a half.

I am very upset that throughout the whole process I was "misinformed" about what I was getting into. I can forget all the misunderstandings, but what I am upset about is the fact that they still have it listed as an open loan so I cannot buy another car. I try to contact CNAC about this issue but they never call back or reply in a way that actually tells me what I need to do to end this.

What I need help with, is how do I close this loan? How poorly is this going to reflect on my credit score? Does anyone have any advice on how to resolve this issue so I can purchase another car? Please no snide remarks about having a low credit score or being irresponsible...helpful information only, please.

Thank you in advance,

TiredofaBrokenSystem
Mishawaka, Indiana
U.S.A.