Complaint Review: PEAK5-FLATIRON OR CENTRIX - Centennial Colorado
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- Author Confirmed
- PEAK5-FLATIRON OR CENTRIX 6782 S Potomac St., Centennial, Colorado U.S.A.
- Phone: 877-236-7672
- Web:
- Category: Car Financing
PEAK5-FLATIRON OR CENTRIX A ripoff!!! Called to get a payoff on my auto was told of a balloon payment of over $3000.00. I was also told if I was to payoff the car now it would cost more. I have spoken to an attorney who gave me this website. Centennial Colorado
*UPDATE EX-employee responds: about the balloon pymnt
*Consumer Suggestion: Read your contract
Show customers why they should trust your business over your competitors...
I was told by a representive that I had a ballon payment of over $3000.00 making my payoff $4,643. plus if wanted to payoff this car before June it would cost me more.
I contacted an attorney who referred me to this website to report this ripoff company to, one company with many names.
Sylverja
Birmingham, Alabama
U.S.A.
This report was posted on Ripoff Report on 02/04/2009 09:41 AM and is a permanent record located here: https://www.ripoffreport.com/reports/peak5-flatiron-or-centrix/centennial-colorado-80112/peak5-flatiron-or-centrix-a-ripoff-called-to-get-a-payoff-on-my-auto-was-told-of-a-ball-420037. 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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#2 UPDATE EX-employee responds
about the balloon pymnt
AUTHOR: Mshalo - (U.S.A.)
SUBMITTED: Saturday, July 11, 2009
Just a little explaination as to why you might have a balloon payment due at the end of your loan. Peak5 loans are simple interest loans so there is a daily interest accuring on the balance. When you get deferments the defered payment is added to the last payment due on the loan. When you get mulitiple deferments it increases this amount even more. Late payments also can make your final payment balloon. It is important that you read all the terms and conditions when you enter any type of agreement. Don't let the finace managers at the dealerships rush you. Make sure you know what your are signing up for because you are the one who has to live with the consequences.
#1 Consumer Suggestion
Read your contract
AUTHOR: D K - (U.S.A.)
SUBMITTED: Friday, February 06, 2009
People agree to "balloon payments" at the end of their finance contracts to get lower payments. If you have a balloon payment agreement it is in your contract. If you signed a contract with a balloon payment at the end, you were NOT ripped off. Pay more attention next time to what you agree to.
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