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I should have read the paperwork but needless to say.I got a $23,000 car loan, paid $4000 down with a $610.00 monthly payment.

The interest rate is 23%. After 2 years of paying them over $14,000 ONLY $3000 has gone to the principle. My pay off today is $20,100. So I learned a $18,000 lesson!

These people know what they are doing is why they stretch the loan out. They go after people with BAD CREDIT cause they know it will be hard for them to refinance and they can pocket all the interest. So in order to fix my problem I have to make 2 to 3 times the payment amount so the money goes toward the principle and not the interest.

CHECK OUT MY CREDIT REPORT TO SHOW THE TRUTH.YOU DO THE MATH.

Reviewer is in unhappy mood. Please immediately contact the author of this review to discuss problems with payment of crescent bank and trust loan. Crescent Bank And Trust needs to read this review and look into the issue (if any) according to poster's claims.

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Anonymous
Marion, Illinois, United States #1317712

I see multiple late payments.....as for the interest, I've kept an eye on my account and 6 months into my loan, paying before the due date each month, more than half of my payment is going towards my principal.

Anonymous
#1151514

You don't know what the *** you're talking about!ALL CAR LOANS as well as REAL ESTATE LOANS work this way!

It called "AMORTIZATION"! In the beginning of the loan, most of the payment goes to interest. As time goes on, more and more of the payment goes to principle.

Its a FACT of finance from day one!Thanks for the laughs!!!

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