Questions about AmeriCredit

Good old americredit. Where do I start. We got our car with like $500 down with a nice 21.99% rate from them. Our score was probably high 400s low 500s at that time. You have to watch their loans though. Most loans are done so that if you pay extra principal then it will decrease your total interest paid. Not so with americredit. Our loan, whenout our knowledge until too late, was set up so we paid a set amount of principle and no early payments would lesson it. That essentially makes that high 21.99% even higher if you pay over and above your normal monthly payment. The alternatives are not much better. Our next loan was with WFS at 15.99%. They did their loans the regular way. 4 times they showed up at our door to repossess our car even though we have never been late. They have a problem crediting the correct account. Each time I showed them the money order slip. I feel sorry for the guy who came because he looked embarressed each time. After the 3rd time I called and complained to a supervisor. That guy said he should fire the poor employee because I could have made up the money order receipt and he should have taken the car. I told him not taking the car was the only thing between your company and a lawsuit. After we paid that car off, we went to a ford store with a 610 TU score(was lower but their car figures raised the score about 40 points). We talked them into a lease on a 2002 windstar at 3.25% which was a dream come true. What is your score? Maybe it would be ok enough that you can try a lease.

 

Ours was much worse even with the 22.000 lease at 3.25%. you are gonna be just fine.