Why do I have to continue paying on a car I turned in 3 years ago?
I could not afford the car so I had them pick it up than they called and said I was responsible for paying the difference of what they couldn’t get when they sold it that has been 3 years now and I still owe over a thousand dollars the lady on the phone told me that if I could pay 850 like today the title would be mine well duh the car is gone and I am paying for it
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3 Answers
how long did you have it before you returned it?
Because you signed a legal loan document. You agreed to pay a certain amount for the car and that included interest. It may have been more than the fair market value for the car when you turned it back to them.
You might consult an attorney and see if there is any way to get the amount reduced. They sort of have you over a barrel. It sounds like pretty unfavorable terms if you have still been paying for three years, but it is not illegal.
An expensive lesson. Sorry.
The fact that you owe has nothing to do with the car or where it is, you owe because you have a loan agreement. What you need to do is get everything in writing. My guess is that whoever told you that you could have the title back either made a mistake or is just saying whatever she feels like she needs to in order to collect on a debt. It’s a pretty typical (and shitty) thing that a lot of debt collectors will try. They’ll say anything. That’s why I say (and now reiterate) get everything in writing!
And p.s. have them fax to a kinkos or mail to a PO Box if possible, you don’t want them faxing to your work or calling you at work.
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