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Chrysler Financial / extra money added to end of my loan

1 United States Review updated:
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I will never use Chrysler financial again. They suck out loud. I had a six year loan, payments at 350.00 a month. My car loan was up in June. I called in May because my pay-off balance was 900.00 dollars. I thought it should be 700.00 dollars. They said the extra money was interest owed on the account. I said I would send 450.00 in May and 450.00 in June to pay off. When I check in May to see they received my 450.00 payment (they did receive it) the balance was 550.00. They added another 100.00 dollars worth of interest in the two weeks since I called. I will never ever buy a car through this company again. Ever, even if I have to walk to work. Can’t wait to be done with them...

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Comments

  • Co
      21st of Jul, 2008
    0 Votes

    Perhaps, you may want to read your contract. The result of the high final payment is the extra interest you paid throughout your loan when you paid late. i would also check on the final $100. That is most likely a final late cahrge, again specified on the back of your contract. This is how simple interest loans work. I would pay in cash from now on or pay ontime to avoid future penalties.

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