I am 24 yrs old. When I was ripped off I was 19. I had gone into Big Billy Barrett alone and wanted to trade my car in for my very first car that I purchased on my own. At the time I had excellent credit and was doing very well for my age. I had a 1991 Mitsubishi Mirage that I traded for a 1994 Mazda 626. I wanted to get into a Mazda Protege' however the Finance person that took advantage of me didn't think I needed a new car or could be financed for one.
I advised the sales person that I needed a dependable vehicle and that would last the note and that would last on long trips because I traveled long distance for work and needed always checked on my grandparents yet a lemon. Not knowing what I had and what to do I purchased the vehicle. Paid 13,500 for it. At that time the car was only worth. 8-9 thousand dollars. U A C finaced the car for that amount.
I asked what the interest rate was and I was told 20% however no matter how you add and subtract it does not match up at all on what i pay per month. 342.52. For 66 months. The car was totally over finaced. That is just the beganing. The car only lasted a year and a half before I started having problems, to date I have paid out 7,500, 1 to replace a transmisson Twice and a motor. I have had nothing but problems since.
The company that finaced the car Defered payments however this only drove me deeper and deeper into dept. I have paid on this car for 4 years and I still owe almost 7000 dollars on the vehicle. Now the car won't go into reverse.
No one will take it as a trade so due to me having to rob peter to pay paul. My credit has been distroyed. I have now made the decision to let them pick up the car. And am forced to go to a tote the note lot to get a vehicle.
If I keep the car I would ended up paying 30,000 not including the other out of pocket expenses and rental cars for when the car had to go to the shop.
Kendrick
Dallas, Texas
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