C
carcreep
Guest
What is the name of your state? Oklahoma
I financed a car 5 years ago. The last payment was due June 25. I haven't made the last two payments. I have the money to make the payments now but the finance company wants approx. $2500.00 in late fees. They told me in May that they were charging me $2.27 per day for late fees. My contract states $5.00 per month or 5% whichever is less. It doesn't say anything about $2.27 per day. I'll admit I have been late on some payments but $2500 seems excessive. I'm afraid that if I make just the car payments they will repo my car anyway for the late fees. This would leave me with no money to purchase another vehicle. I've tried talking to them but I never get the same person twice and each one says something different. I want proof that I owe the late fees in that amount before I agree to pay them (which I would have to do in installments). What should I do?
I financed a car 5 years ago. The last payment was due June 25. I haven't made the last two payments. I have the money to make the payments now but the finance company wants approx. $2500.00 in late fees. They told me in May that they were charging me $2.27 per day for late fees. My contract states $5.00 per month or 5% whichever is less. It doesn't say anything about $2.27 per day. I'll admit I have been late on some payments but $2500 seems excessive. I'm afraid that if I make just the car payments they will repo my car anyway for the late fees. This would leave me with no money to purchase another vehicle. I've tried talking to them but I never get the same person twice and each one says something different. I want proof that I owe the late fees in that amount before I agree to pay them (which I would have to do in installments). What should I do?