I was recently mailed a letter asking me to sign a contract since I had made all my first 24 payments on time to lower my percentage rate. If I sign this letter they will refinance my contract and I will owe them more money. My pay off amount is about $5,129.00. If I sign I will owe them $6.038.00.
When I looked over the contract, I noticed their information said my car cost $14,067. I was given a receipt showing the car cost $9,125. Plus, the taxes came out to about $10,000. I gave a $2,000 down payment. My balance was $8,000.
When I called the lady told me the car cost $14,000 then the $2000 was deducted so my balance was $12,000. I refuse to sign anything until I get more information on this matter.
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