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Infolawyer
Infolawyer, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 6606
Experience:  Licensed attorney helping individuals and businesses.
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I got a car in February at carmax and financing was through

Customer Question

I got a car in February at carmax and financing was through santander consumer. My loan amount has not changed and payments have been made on time even more the the reoccurring amount. It's this against the law?
JA: What state are you in? And is a local attorney or other consumer protection advocate helping with this?
Customer: I am in Texas I got the car in Mississippi.
JA: Have you contacted the manufacturer?
Customer: No Mam.
JA: Anything else you want the lawyer to know before I connect you?
Customer: When I got financing I was not able to see the contract. It was only able to see the monthly payment amount. Had I know it was a simple interest loan. I would have not accepted the offer.Carmax and Santander Consumer are not following guide lines.
Submitted: 3 months ago.
Category: Consumer Protection Law
Expert:  KnowYourRights replied 3 months ago.

Good morning. I am sorry to hear about this. Can you share with me how you were no able to see and review the financing agreement? Also, when does the principle get applied and/or are you required to finance it, so get out of the interest only loan?