Auto One Acceptance Corporation - got auto loan for Hyndai car at 18.9% interest

Auto One Acceptance Corporation - got auto loan for Hyndai car at 18.9% interest

Predatory car loan

Auto One Acceptance Corporation is a predatory lender. I was desperate for a new car. My old car died. I went to a local Hyundai dealer and applied for a loan. I was told since I was a first time buyer, and because of my lack of credit, the dealership was having difficulty locating a company to finance a loan for me. Finally, Auto One gave me a loan at 18.9% interest.

I didn't know any better and because I really needed a car, I agreed to the loan. After doing the math, I discovered the total amount that I will be paying over a 5 year period surpasses $20,000. That double what the car was sold for. This is outrageous and definitely a predatory loan. BEWARE!!!!! of AUTO ONE. They take advantage of desperate, poor people with little or no credit. Word of advice, go elsewhere. Do not be fooled by Auto One.

SANDRA J

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