Overhaulin'

Auto-loan company changes the terms after 45 months. What can I do?

4 years ago, in 1/2004 I financed my car with 48 month term which will end in 1/2008 and I have the contract with all the necessary info. Last month I contacted the loan company to know how much will be my pay-off amount, then told me that they mis-calculated my loan 4 years ago and that I have to pay 6 more months, till 6/2008. I re-evaluated all the papers that I had with them and saw that they really mis-calculated, but, I think it's not my problem, they had to be careful. I am very angry and don't know what to do. I don't want to pay any more payments than what stated on my contract .

Public Comments

1. You may have a case because they did not contact you about their error. Look to your state's attorney general or other department which regulates car dealers. Repeatedly accepting your payment through the years indicates that they approved the terms. They should not renig now.
2. Go the easy way first, file a complant with the Better Business Bureau, find out if they are a member, if not file anyway...if that does not help...then go to the consumer service agency in your state and file a complaint....of course the attorney general is an alternative, but generally they investigate things of general overall interest and not represent just one person. Of course you can get an attorney and file a case in court, but that would cost you money...maybe you can call your local bar association and see about ''free legal advise'' and then deside which way to go...of course dont pay....