Navy FCU Consumer Loan Complaint

Navy FCU Consumer Loan department,

Vehicle loan Taking out the loan or lease Virginia

One year ago I used Navy Federal Credit Union to finance my first vehicle. I purchased the vehicle from a small dealership, - - in - - Virginia. At the time of the purchase the vehicle was worth $8700.00. The dealership provided a - but my copy did not have the value of the car listed. The vehicle was financed by Navy Federal Credit Union for - at 9 percent. NFCU financed - percent of the fair market value of the vehicle. NFCU allowed me to purchase a vehicle with over $4000.00 in negative equity. I went to NFCU to apply for refinancing of the vehicle and was told that I could only refinance if I paid down and additional $2000.00. Why was it ok for NFCU to finance me into a vehicle that had over $4000.00 in negative equity and now that I have improved my credit with regular payments for a year and want to refinance they demand an additional $2000.00. Why is it ok for a lending institution to finance a car for so much more than it is worth. I thought that a credit union called Navy would look out for me.