In November 2023 I financed a car listed at $26k. I put a down payment of $7k knowing that every month forward I’d be making payments of $591 for the car. The first month I paid they reversed the payment and so I paid them a second time. That’s when they charged me a NSF fee and after that things have been messed up since.
I contacted my loan company about this situation when it happened it they stated it would come off my account but never did. Fast forward 6 months of on time payments the NSF fee was never reversed properly, in fact, they reversed it and charged for me for it again 6 times after I called them again about it.
Around this time I was so stressed out about the car of my dreams turning into the worst experience ever all because of the loan company, i got into conflict at work and had to leave but I let my loan company know this information. It was the then the first time I missed an actual payment and that messed me up even more. After the one missed payment it was like I wasn’t putting more towards the principal anymore, it was all going towards interest.
At this point I’m 7 or 8 months into having this car and making almost $600 payments a month with 1 missed payment and it’s saying I’ve only paid $1k of my principal loan.
I’m thinking that doesn’t make sense but the way the loan company explained it to me was that if I don’t give them more money then what I’m paying won’t go to the principal.
It has been 2 years and I have fully given up on trying to get my account back on track. I’m paying all money getting blown up everyday for missing a payment but when my account was charged incorrectly, no one wanted to say anything then. I’ve looked up online that if I volunteer to surrender my car they’ll auction it off but not for the price I paid putting me at risk of being sued but I honestly can not keep the stress of the car company not explaining this to my right and expecting even more money out of me.
I offered to surrender the car, they expressed how I shouldn’t do that and to just add the two missed payments onto the end of my loan. Did that, still no progress towards my principal. Everytime I speak with this company I mention how I would like to surrender it and then always convince me to not do so and to keep making payments because they don’t know what to do.
(If your wondering, i purchased this car on CARVANA and the loan company they matched me with is Bridgecrest)
Location: AL