Amercredit Complaint - Payoff car - finance car through them just trying to payoff

Review by outofdeal on 2010-01-26
PHOENIX, ARIZONA -- I think that Amercredit needs Obama to get a hold of them, I went to their site to payoff my daughters car and they have a really rip off site to begin with, first they chg. you to make a payment on their site which is unfair for their customers I guess they have to chg. for their paper work like they can't afford to support their business, any way from one day to another I ask for a payoff so one day it was 14,198 the next was 14216 I guess with them the longer you have the loan the more it grows system is backward but anyway went thru. my bank to pay the company off and will be sure not to ever finance with them again and guess what never late always on time usually early but this is one reason America is in trouble letting these people and companies rip off the consumer. I also hope I get my website done soon because I will advertise for them and the rest like them and if I can save one person from the gates of hell with this I will and I am not even mad, but they need to stop doing this to us Americans, I also think they need to move to iraq if they want to cheat their fellow men and women.
Comments:2 Replies - Latest reply on 2010-01-27
Posted by saj80 on 2010-01-27:
Interest accrues daily; if you call on different days, the pay off amount will increase due to the interest charges. All lending institutions operate in this manner, so not sure what your complaint is.
Posted by Slimjim on 2010-01-27:
What on earth are you mad about?? 1st loan EVER? Like saj said, interest accrues daily. The loan isn't "growing", you simply were getting the current balance due when you call for a payoff. This figure is actually "waiving" interest already figured into your loan agreement, based on you paying off early.
Second, making a payment online is subject to fees by many institutions. While it does add a small revenue stream, it should be noted to take your payment online, they do pay fees to their bank for the electronic payment processing.
LOL, yes let Obama get a hold of them. He'll figure a way to tax the heck out of them so they can't get loans to people who need them, while shrinking their growth so they can lay off staff in these great days of prosperity..

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