car finance horror stories

There are cases where people were tricked into signing contracts with hidden fees. For example, a woman thought she was getting a great deal on a car finance. But later she found out there were all kinds of extra charges like processing fees that were not disclosed upfront. These fees added up to thousands of dollars over the course of the loan, and she struggled to make the payments as a result.

Research the dealership or lender thoroughly. Look for reviews online. If there are a lot of negative reviews about their car finance deals, stay away. For example, if people are constantly complaining about hidden fees or bad customer service, it's a red flag.

Story 1: I was driving alone at night on a desolate road. Suddenly, my car made a strange noise and then just died. I was in the middle of nowhere with no cell signal. It was pitch - dark and every little sound outside the car made me jump. I had to wait for hours until a passing truck finally stopped. It was a terrifying experience.

One common PCP finance horror story is when people don't fully understand the mileage restrictions. They end up going over the allotted miles and are hit with huge extra charges at the end of the contract. It can be a real shock when they get a bill for thousands of dollars just for driving a bit more than expected.

Sure. One horror story is when someone got into a payday loan cycle. They borrowed a small amount, but the high - interest rates made it impossible to pay off quickly. Before they knew it, they owed much more than they originally borrowed and were constantly stressed about making the next payment.

One horror story could be getting sold a car with a lot of hidden mechanical problems. The dealer promised it was in great shape, but after a few days, the engine started making strange noises and it turned out there were issues with the transmission too. Cost a fortune to fix.

One horror story is when people get stuck with extremely high interest rates. They thought they were getting a good deal but later realized they're paying way more than the car is worth in the long run. For example, a friend of mine was offered a 20% interest rate on a used car loan. He didn't read the fine print carefully and now he's struggling to make the payments each month.

One of my first car horror stories was when the engine suddenly overheated on a long road trip. I was in the middle of nowhere, and steam started coming out from under the hood. I had no idea what to do at first. Luckily, a kind passer - by helped me check the coolant level, which was dangerously low. It was a scary situation as I thought I'd be stranded there for a long time.

One horror story could be when a seller thought they sold their car to a legitimate buyer. The buyer gave a fake check and took the car. By the time the seller found out the check was bad, the car was long gone and they had no way to track the buyer.

I took my car to a so - called 'expert' mechanic. He said he needed to keep the car for a few days. When I got it back, there were new scratches on the body, and the interior smelled like cigarettes. And the original problem still wasn't fixed. I had to take it to another shop to get it properly repaired.