GM Financial I had ran into some financial difficulties on my bills and to make sure that I could still pay I had called GM Financial to see if I could refinance my car at a lower interest rate so I can maintain paying them they refused .so being unable to pay they repossessed my car. they sold it at auction for more than Kelly Bluebook value and tell me I still owe them close to $5000what a rip off just trying to get interest that they had lost their the reasons why I lost my car in the first place for their unwillingness to work with their consumer. Arlington Texas

YOU signed a contract in which YOU agreed to pay principle and interest.  When the repo happens, YOU are still on the hook for the bottom line amount on the contract.  The interest rate is so high because YOU gave YOURSELF a verified/documented history of NOT paying YOUR bills on time.  Here we are today and YOU still are NOT paying YOUR bills on time!  Is it any wonder? 

Do you see a pattern developing?

You talk about how they are taking advantage of people trying to rebuild their credit and those trying to build credit.  Just based on how you wrote that, it is pretty much guaranteed that you are in the former.  Meaning that the only reason you were stuck with a 23.99% interest rate is because you have previously screwed up your credit.

Of course your previous credit issues weren't your fault either..were they.

So it is no surprise how you ran into "finanical" difficulties this time that it is of course their fault your car got reposessed because they wouldn't "work" with you.

Here is a shock for you, but you will not find a single company who will "refinance" their own loan.  There is no reason to.  They have a legally binding contract stating you will pay a certain amount.  Why would they accept less?  They are not a charity, they are a *gasp* business.  Oh, but if you had truly been paying your loan for 2 years and were ON-TIME, your credit should have improved. If your car was still worth as much as you say you should have been able to find another bank to refiance your loan without much problem.  That is unless you are leaving out a lot of information that does not make your side look so good. 

By the way it doesn't matter what the "blue book" value of the car is, it only matters what your loan balance was.  So if your loan balance is more than they sold the car for you are responsible for the balance.