On 02/02/05, I opened an account with Arcadia Financial Ltd to buy a 2002 Ford F150. It was sold to me for $19460.00. The finance charge was $133377.04 with an 18.75% rate. My contract states that I will total out paying $33973.24 for a Ford truck at 72 payments.
It is 1/12, and they have sold my account twice since then. I was with CitiFinancial Auto, and just last month they sold my account to Santander Consumer. They told me I still owe $6200.00 as of today.
I have my payment history and know that on a lot of the payments, it showed that I paid 456.07, and 439.85 was applied to just the interest and 16.22 to the loan. Something needs to be done about this type of rip-off. Let's file a class action ASAP!
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