I am a first time buyer in the auto industry. I purchased a manual Hyundai Accent 2004, which I traded in for an automatic Hyundai 2006 Accent and ended up with an upside down loan. When I signed to buy the car there were no problems with my payments. I currently owe $10,000 and paid the finance companies $45,000. A brand new Hyundai Accent cost about $16000. I had financial hardships when my income went down and I am struggling to get my car back from repossession. I felt the need for this petition, because it is unfair that the poor pay so much for everything, based on the premise they fear they will not pay. The truth of the matter is a poor person could pay it off quicker if there were not so much interest attached when a person's finances has decreased.
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