Kern Schools Federal

Kern Schools Federal Credit Union Kern Schools FCU Ripped off on a car repossession Bakersfield, California

9th of Sep, 2011 by User773152

I am a victim of the economy, like everyone else. I lost my job, therefore my car got repossessed. I have been paying things off my credit report slowly, but surely. This weekend, I took my happy little self down to a car dealership, test drove a car, and started the paperwork to buy the pretty little thing. The dealer comes back with my credit report in hand, telling me that I could be financed, except for the fact that the loan for my car that was repossessed with Kern Schools Federal Credit Union is showing OPEN. Now, why would a car that was repossessed a YEAR ago, still have an open status? I wanted to find out. I called Kern Schools. They said it was because they sold the car for less than what was owed on the loan. Let me show you all a little something. There was a little over $7000.00 owed on the car loan when it was repossessed. It was a 2006 Toyota Corolla S with all pretty extras. Rear spoiler, 6 CD changer, blah blah. The kicker? It barely even had 13,000 miles on it. If you look up a 2006 Toyota Corolla S right now, it is STILL selling for $15,000 with FAR MORE miles on them. Do you think I got ripped off? I really feel like they do. They are telling me I still owe them almost $1000.00. How am I supposed to believe that they only sold my car for $6000? It doesn't add up. They had to have MADE money on that deal, unless they decided to sell it to an employee. And i'm sorry folks, but I AM NOT paying for their deal.

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