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I have tried to settle out the final payoff of my auto loan with Automart. To date I have paid {$10000.00} to this but here pay here lot.
Down payment : {$1500.00} XX/XX/XXXX Sale Price : {$8400.00} Sales Tax : {$670.00} Title : {$100.00} Admin Fee : {$340.00} XXXX : {$590.00} ( never seen this on a contract and researched to no avail ) Total Balance : {$8700.00} From XX/XX/XXXX to XX/XX/XXXX I have paid : {$9600.00} in monthly payments.
Dealership apr 24 % Finance Charge : {$3100.00} Dealer is gouging out the payoff. The last scheduled payoff on contract would be XX/XX/XXXX.
I am being informed I still have a remainder of : {$2100.00} This doesnt add up as I would be paying {$11000.00} and the full term of the loan would be {$11000.00}. Paying the car off a year and 2 months early and only saving {$43.00}. It is my belief that this car dealer should be investigated and observed for misconceptions of the contract.
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