In July my fiance and I went to Carbiz for a truck when we were 19 years old, because we didnt have any credit to get a loan. We knew nothing about cars and the percentage rates then.
They sold me a 2001 chevy silverado for $16,300 (was only worth $8,000), with a percentage rate of 19.95%, so after the 5 years that I would be paying on the truck i would be paying $25,000 for an $8,000 vehicle remind you. So at the end of the loan the truck probably would be worth less the $3,500 for trade in value. The truck has no warranty with it at all. The vehicle had over 107,000 miles on it, and even now just owning it for 6 months noone will trade it in, loan me money or refinance it to pay it off because the trade in value is way less than what i owe on the truck.
I have never once been late for a payment. These last couple of weeks have been hard for me. I have a 2 yr old and i am taking care of her by my self, so i am struggling on paying my truck payment everyother week. I called carbiz and told them that my fiance isnt around anymore and that iam having troubles and that i wanted to return the truck because i cant make the payments, he then told me that even if i returned the truck that i would still be responsable for paying for the truck, and that they would garnish my wages.
The truck had a hole in the carpet on the driver side and the middle counsel was broken and it wouldnt open, it also has a what lookes like a cigarette burn on the celing.
I wish I would have known what I know now! I wouldnt recomend them to anybody. So unfortunatly iam stuck paying for a vehicle i cant afford and am paying way too much for.
0 comments