My husband is in the US Army. Before we were married, he was stationed down in Fort Gordon, GA for AIT. He was a young guy, he needed a car, so... Being young and eager, he went out and got one. Regrettably, he went through the MILES program (US Bank) without putting much thought into it. Like most young wide eyed military members do. He bought an 06 Mitsubishi Lancer. The car is only worth $4,000 and we owe $12,000 on the loan. They are charging him an interest rate of 18.9 percent. We can't get the loan to go down. It keeps on going up. It's been a year and we have only managed to pay off about eight hundred dollars. I am guessing when it comes to the figure though.
They have been calling his step mom about the loan even though she has given them our number several times. We have given them our contact information several times but still they call her for some reason. My husband works the hours that they are open. So when he is able to call them they are usually pissed off that he called because its the last ten minutes of the day. Needless to say, the people that are at their service desks are dicks. Even when you are trying to make a payment, they are dicks. We have fallen on hard financial times.
I am no longer able to work because I'm pregnant. They will not work with us. We are just going to give the car back. I can't see us ever paying this loan off because of the ridiculous charges and APR. We tried to trade it in and no dealership or bank wants to deal with it because of the $8,000 that we would still owe. Refinancing isn't an option either because I don't have any credit and no job. What credit my husband does have is bad. The car payment plus the insurance is $625 a month. We have no other options at this point. This is the only vehicle that we have and we have no idea how my husband is going to get to work.
I have no idea how I'm going to get to my doctors appointments either, but we're hoping God can get us through this. I am sure we will work something out. He is deploying soon. Hopefully when he gets back we will have enough money saved up to pay cash for a reliable car, and pay off whatever we have left on this ridiculous loan. I am fortunate enough that his step mom is willing to help me out with the baby while he is deployed so I can work and go to school. Otherwise I don't know how we would afford child care and this BS car payment.
The dealership my husband got this car from is Select Auto. You can see their web site here:.
Here is the MILES program on the BBB web site: http://bluegrass. BBB.org/codbrep.html? Wlcl=y&id=11001160.
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