I was sold a vehicle in desperate times under false statements of being able to refinance in a year. I was only late one time and that’s when my grandmother died and I had to cover her funeral costs. There was no compassion and they still threatened and kept calling me. Then I got back on track and tried to refinance and was told they don’t do refinancing. Over half my payment is going to the finance charge and there is no one who will refinance because The Car Store sold me a van that was only worth $10000 for $25000 and when I bought it I was immediately upside down. Credit acceptance told me that I was not even allowed to pay on my principal to pay off early. The only option is to double up payments and anything extra would still only go to the next payment. Even the payoff price is still over $12000 and I can not afford these $467 payments being out of work from covid but they offered no type of help. I can’t get a loan to pay it off because they have messed up my credit from that one late payment and the amount I owe them messed up my debt to income ratio. I even had to stop home hunting because of this. They recently told me to borrow the money because if it’s late they will start collection. The van is now worth $6000 and I still owe them over 12 grand and have already paid over 8 grand. When looked at my paperwork from the car store and was charged so many things I declined while at the sales place. In fact less than a month after I got the vehicle it needed repairs and I was told that was on me so I had to replace the tires and brakes on it and nothing ever fell in their warranty. I contacted the car store and they won’t even take the van back as a trade in and the person who sold it to me isn’t there anymore. The car store suggested i give them the van back, stop paying the payments, and wait 7 years to let it fall off my credit. I would never do that I explained to them because I need to buy a home and they said I was screwed then. Am I?
What would you like the company to do to fix the problem? (optional)
Charge me what the car is worth. Remove negative hit from my credit, be realistic, lower my payment, show some compassion,