Complaint Review: IDA LLC - Suwanee Georgia
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- Author Not Confirmed
- IDA LLC 780 Buford Highway Suwanee, Georgia USA
- Phone: 678-720-0555
- Web: www.idallc.com
- Category: Auto Dealers
IDA LLC Independent Dealers Advantage Horrible LOAN Suwanee Georgia
*Consumer Comment: Standard
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Let me start out by saying dont sign anything with these 3 letters (IDA) on it it!!! I dont have any issues with money just had bad credit and wanted to repair it. So I accepted their auto loan. Question: Can I pay this off early so I can avoid the intrest rates without any penalties. Answer: Yes sir you definitely can. Question: Will you report to all credit bureaus. Answer: Yes sir...
20 Payments later....
I call in to get my remaining balance because I had been paying over the scheduled amount. Turns out I had only paid off the intrest and was at the base price of the loan!!! WT#!!! Asked for a copy of my payment history and it turns out that each payment was proccessed different.
EXAMPLE:
Regular payment 70% principal / 30% interest
Over Payment 70% interest / 30% principal
*Everytime*
On top of that they were only reporting to one credit bureau. So in short this loan isnt helping me its really putting me in a situation that has me ready to go postal because of all the lies. This company is full of holes with a lot of misleading information. I get a new rep every 3 months... Too frustrated to continue this but some good advice who be to fix your credit some other way to completely avoid these type of people. Learn from my mistake.
This report was posted on Ripoff Report on 12/07/2013 09:14 PM and is a permanent record located here: https://www.ripoffreport.com/reports/ida-llc/suwanee-georgia-30024/ida-llc-independent-dealers-advantage-horrible-loan-suwanee-georgia-1105265. 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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#1 Consumer Comment
Standard
AUTHOR: Jim - ()
SUBMITTED: Sunday, December 08, 2013
Every car loan works this way! At the start of the loan you pay more on interest than principle. Standard practice, nothing illegal, immoral or unethical. If you pay this off early, you will get a refund of unused interest UNLESS you have a pre-payment penalty.
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