• Report: #468462

Complaint Review: Wells Fargo Auto Finance

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  • Submitted: Friday, July 10, 2009
  • Last Posting: Sunday, October 11, 2009
  • Reported By:port richey Florida
Wells Fargo Auto Finance
Nationwide U.S.A.

Wells Fargo Auto Finance REPO'ED MY TRUCK "CAUSE THEY DIDN'T WANT TO DO BUSINESS WITH ME ANYMORE! Nationwide


1Author 4Consumer 0Employee/Owner

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I have had diffuculties in the past year, however, always tried to keep my truck up. they kept adding insurance on, even though I already had insurance. I disputed this many times. no avail... they didn;t even accept proof from geico. i wired moneies to them on a couple occassions, (more than a payment each time) one time I was in the hospital, and they still demanded I send money. I even mailed payment,,,,they would return a refund to me as refund for overpayment...then came and picked up my truck, "repo'ed it" cause they said they didn't want to do business with me. they sold the truck 10 days later, then had the audaticy to send me a bill for 7800.00!!!

Louann b
port richey, Florida
U.S.A.

This report was posted on Ripoff Report on 7/10/2009 9:02:21 PM and is a permanent record located here: http://www.ripoffreport.com/car-financing/wells-fargo-auto-fin/wells-fargo-auto-finance-repo-bm75f.htm.

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1Author 4Consumer 0Employee/Owner
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#1 Consumer Comment

Louann B, Was it a Toyota truck? If it was, you might want to call the bank and tell them to...

AUTHOR: Karl - Highlands Ranch (U.S.A.)

'Google' this- ENGINE SLUDGE, and go to the consumeraffairs website about 'Toyota Engine Problems', and have them read all of the complaints!

Also make sure to tell the bank to click on 'Airbags' when they're at the consumeraffairs website and read how AIRBAGS are NOT DEPLOYING in many Toyota vehicles all over the United States of America!!!

*PEOPLE'S LIVES COULD BE IN DANGER IF THEY HAVE A TOYOTA WITH DEFECTIVE AIRBAGS, wouldn't you agree?

Also have the bank 'Google' this- YOUTUBE TOYOTA SEQUOIA DEFECT, and have them watch the video of a Toyota Sequoia that flipped over on I-95.

Then have them 'Google' this- TOYOTA RECALLS 1.3 MILLION CARS, and have them read that!

Also have them 'Google' this- BUY A COROLLA GET BURNED LITERALLY, and have the bank read where a man burned to death in his Toyota Corolla!!!

And make sure to have the bank executives go to Ripoffreport.com and type in- TOYOTA, and read all of the Rip Off Reports, okay? Tell the bank executives that they can 'Google' this- SLUDGE POEM, and read it! Toyota's CEO, Jim Press, QUIT his position with Toyota exactly two weeks after 'SLUDGE POEM' was posted about him at Ripoffreport.com on 8-23-2007.

Toyota's CEO announced his resignation with Toyota on 9-6-2007 and went over to Chrysler. Chrysler COLLAPSED not too long ago & filed for bankruptcy. The government had to BAIL THEM OUT with TAXPAYER'S money, and Jim Press is still there???

WOW!

I hope that you didn't have a Toyota. I hope that your Rip Off Report is spread all over the WORLDWIDE WEB for everyone to see & read!

I hope that you get a new truck!!! I hope everything works out for you!!!

Good luck to you, and God bless you!!!!!

P.S. Make sure to 'Google' all of the following & watch them on the web-

THE OBAMA DECEPTION

THE ASCENT OF MONEY PBS

INSIDE THE MELTDOWN

FRONTLINE THE MADOFF AFFAIR

AMERICA: FREEDOM TO FASCISM

BUSH'S WAR

YOUTUBE CONDOLEEZZA RICE LIAR

9/11 PRESS FOR TRUTH

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#2 Consumer Comment

This is another item the bank does

AUTHOR: FFChick - AShland (USA)

Banks I have seen do this alot when someone that works for them whats a truck or car. They find someone who can not afford to sue them and mess with them.

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#3 Consumer Comment

That's a Bunch of Crap!

AUTHOR: Jim - Orlando (U.S.A.)

Sure FF, some employee of a nationwide major bank wants a car, so they repo one of their customers for "no reason".  Grow up!

Banks or other finance companies make more money if the loan is paid in full than if the car is a repo.  This is a FACT of the finance industry. 

The decision to repo or not repo is based on several factors.  Does the customer have the ability to pay going forward; how far behind is the customer; what is the payment history of the customer; how far into the loan term is the default; What is the possibility of the customer hiding, destroying or damaging the colateral; can the "word" of the customer be trusted.

The only reason a lender will add insurance is because the borrower FAILS to carry the REQUIRED insurance.  If the borrower also fails to pay the insurance on time, then the insurance will be cancelled and the lender will be informed accordingly.  I suspect in this instance the borrower had multiple insurance cancellations during the term of the loan and the lender became suspicious and/or concerned the collateral was in danger of not being covered.

The contract requires each payment to be made on time...it doesn't matter whether the borrower is in the hospital, out of work, in jail, on the moon or asleep.  Why is it so-o-o "shocking" they wanted payment when the borrower AGREED to pay it ON TIME?

When the car is repoed, it is sold at auction.  The difference between what the auction brings and what the borrower STILL OWES is the $7800.  Again, nothing new, nothing unusual here.

Audacity is when a borrower FAILS TO LIVE UP TO THE TERMS of the contract and then expects the lender to look the other way.


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#4 Consumer Comment

BUNCH OF CRAP? It was reported that the Wells Fargo CEO was spotted at the Animal Kingdom walking around. 'Google' this- YOUTUBE OLD MAN WITH CRAP ON PANTS WALKS THROUGH ANIMAL KINGDOM, and...

AUTHOR: Karl - highlands ranch (U.S.A.)

watch it on the web.

"BUNCH OF CRAP" IS RIGHT!!!!

P.S. Something "STINKS" at Wells Fargo, wouldn't everyone NOW agree?

SPREAD THIS ALL OVER THE WEB at sites like- 'TWITTER' & 'FACEBOOK'.

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