Q: I currently am in a car loan contract that has a 29.99% APR. In New Jersey that APR is 0.01% away from being illegal.
I believe I was tricked into this loan. I have no copies from the day of signing. I am questioning the legality of this 29.99% APR in NJ.
The day I signed this loan I was in desperate need of a vehicle as I was 18 years old, no credit, I had a job but it showed no income. I also need a vehicle in order to get to my job the next day. It wasn’t until a bit later I realized how bad of a deal it truly was. The dealership made it seem like I was in for a great deal and that I was lucky. In reality they were getting the great deal and I would be the one trapped in a crazy loan.
I am hoping I can fight this APR as the loan is so bad that nobody will refinance it.
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A: You will need to retain an experienced New Jersey Civil litigation attorney and have an either a secured video consultation or contact the attorney to find out whether the attorney is seeing clients in person or not. The attorney may charge you a consultation fee to review any documents that you may have. Whether it will be cost effective to retain an attorney depends on the amount of money involved. Good luck.
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