I financed a car through Triad Financial and they said it would be 26% interest which is high but we needed a car. Every time the statement comes back they are charging 5 dollars a day just on a loan for 285.00. I have called and all they say is that they can explain it to me but that they are not charging 50% of the loan in interest.
They have so many statements to explain the interest but it still comes out to over 50%. 26% of even 341.00 is $88.60 which is far less than the over 150.00 they are charging me monthly. I have had the loan for over a year and it is still at 13,000.00. They rip you off coming and going. I bought the car for 9,950.00 and when they got done it was over 13,000.00 which it still is today after a year and 1/2. Sure they give you the car with no money down but you pay for it in the end.
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