I have a problem with my car loan with Triad. Over the past few months, I got behind on my car note. I requested an extension and they told me that I needed to make a payment and the fee for processing. At that time, I was already two notes behind and approaching three. Well when I did so and called back this other person tells me that your approaching another pay period (almost two weeks away) and that you need to do another payment. I go back and forth with them and end up at the next payment â?? now its three behind. I make another payment then its two and I keep having problems with consistency from Triad reps. I get laid off and so fast forward to nowâ?¦â?¦â?¦I am three notes behind, approaching four! The last guy said ok, you make another payment and send the fee for the extension, along with the letter requesting the extension. Then I donâ??t hear back from them for about 1 ½ and call them. He tells me the manager said I didnâ??t sign the letter (which I did and had copy of confirmation). So then he says send again. Now theyâ??re telling me that I have to do another payment and that since the life of the loan (August 2001), Iâ??ve had four extensions. They further stated that because of the extensions, my car wonâ??t be paid off until 2013 instead of 2007 which I don't understand. (72 month loan). Donâ??t know what to do at this point. I was considering one of the following: 1.) Let them come get it â?? I got screwed on this deal and right now I owe almost 17,000 for a 2001 car. 2.) Try to refinance with my CU for 3 years, keeping payment about where it is now. After two years, get rid of it. The thing with this is that I have some baddies on report. Do I dispute all baddies and then apply for loan? 3.) Try to get another car with lower payments and then give this thing back to Triad. Anyone have suggestions to help get me out of this mess?
1 - if they repo it and resell it for LESS than what you owe, you will still owe the difference. 2 - trying to refi is a good thing - just be honest with whoever you apply with about the situation. 3 - again, you will probably still owe money on that car.
Re: Car Loan Problems w/Triad..HELP I talked with my CU and the best option was to take out a small loan to bring it current instead of trying to refinance the entire amount. I only have a couple years left and if I refinance for that amount the note will be higher by almost $200.00 I took out a small loan with them before and I've paid on time. Hopefully that will show well on my behalf. They are giving me an answer tomorrow. Crossing fingers
