I bought a car from Duval Auto Sales, in Fayetteville, North Carolina. I had it financed through them, with Grayson Financial Group. The car was originally $12,000, but I was able to get it for $9,000. Supposedly because I'm in the Air Force.
When all the paper work was finished, I had 4 years to pay it off. My interest rate was 14.9%, if I took the alloted 4 years. I was told, and understand, that if I was to pay it off early then I would only pay the original $9,000. After about 4 months I recieved a letter from Seawest stating that they bought my loan from Grayson. No one contacted me until this was done, so I had no say in it at all.
When I recieved my first statement from Seawest, I noticed that I had over $11,000 left to pay on the car. I had already paid over $1,000 in the time I was with Grayson, so it should have been under $9,000 dollars left that I owed on it.
I took it to my shop on base and showed the statement to my superviser, and he agreed that something wasn't right. He said that evidently they had added the interest rate from Grayson into the remaining loan when they bought it.
I am deployed right now for Operation Iraqi Freedom, so there's not much I can do right now, until I noticed your add on the internet. Iam very interested in getting this straightened out. So if there is any way that you guys can help me, I would greatly appreciate it, and so would the rest of the Air Force members who bought vehicles from Duval who are getting ripped off right now too.
Thank you very much,
A1C Jonathan Sandlin
0 comments