I bought a car with my fiance from a buy here pay here. In our contract it states that we will be charged 5% late fees after 10 days well after 4 days they came and reposed the truck and charged us over 500 to get it back. They said that they sold the loan to a bank and the bank reposed the truck not them but they are still the lien holder of the loan. Does this make any sense? Now the 10 day thing is in the Federal box of the loan and no where else on the contract does it say anything about reposition or about any grace periods. I took the contract to another dealer and they stated since he contract was written in 2005 we now have a 10 day grace period according to Florida Law is this true?
Im being 100% honest he told my fiance this was to teach me a leason. I have no idea what he ment by that

• Previous Entry: On my car loans, I’m being charged over $10.00 per day everday im late. 30 days=$300.00 can they do this?
• Next Entry: credit report/car loan?