I'm new to auto loans and but not new to installments. I've paid three times since financing my first cart with Ally. Quite shocked at the finance charges taken out of each payment. I thought I have a reasonable interest rate of 2.6% or so. I need to look closer at the contract. Total loan was about $27k. Do these charges look normal to everyone? It's suprising that I would see nearly a $19 FC after just 10 days between payments.
Are there many horror stories with this lender? Are they one to avoid like santander? I am sure I can aggressivly pay off with Ally or just make normal auto payment for a few more months and then refinance with another lender if I need to seek a better lender.
Date Payment Amount Description for Payment Type Code Finance Charges Late Charges Other Charges Total Paid
| 09/05/2014 | $681.03 | Online payment | $18.97 | $0.00 | $0.00 | $700.00 |
| 08/26/2014 | $581.40 | Online payment | $29.08 | $0.00 | $0.00 | $610.48 |
| 08/11/2014 | $578.80 | Online payment | $31.68 | $0.00 | $0.00 | $610.48 |
