My wife and I financed a vehicle through Summit Finacial in June 2013. We are current on all of our payments. After seeing the complaints from other customers I decided to ask for balance on our account to see how much was owed. After reviewing my purchase agreement price for vehicle which was 16,520 with payments of 381.90 per month dated on 6-29-2013 the rep stated as of 4-7-2015 my balance was 15,2400 which means we only paid 1,358.80 toward vehicle. I then asked from the 8,401.80 we've paid on vehicle where did the other $7,043.00 get applied. She told me interest!!!!!!!!!!!! I have never heard of such nonsence!!!!! Please someone need to stop this company!!! This cannot be legal!!!!!
Summit Financial Corporation Reviews
My wife and I financed a vehicle through Summit Finacial in June 2013. We are current on all of our payments. After seeing the complaints from other customers I decided to ask for balance on our account to see how much was owed. After reviewing my purchase agreement price for vehicle which was 16,520 with payments of 381.90 per month dated on 6-29-2013 the rep stated as of 4-7-2015 my balance was 15,2400 which means we only paid 1,358.80 toward vehicle. I then asked from the 8,401.80 we've paid on vehicle where did the other $7,043.00 get applied. She told me interest!!!!!!!!!!!! I have never heard of such nonsence!!!!! Please someone need to stop this company!!! This cannot be legal!!!!!