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  • Report: #802074

Complaint Review: Capital one auto finance

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  • Submitted: Sun, November 27, 2011
  • Updated: Mon, November 28, 2011

  • Reported By: Juan — New york New York United States of America
Capital one auto finance
P.O box 93016,Long beach CA,90809-3016 Long Beach, California United States of America

Capital one auto finance I Juan Guity Melendez have a car loan 16.55% APR ,for 72 months with Capital one .for a vehicle price of 28,725, I have being making payments of 647.80 since 03/27/06.even thouth i have 3 payments beh Long Beach, California

*Consumer Comment: How is this a ripoff?

*Consumer Comment: Sorry for your recent trouble.

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I'm currently financing a vehicle with capital one auto finance. I'm 3 months behind But I'm making payments on a regular basis wich is every 27 of the months,the total vehicle price was $28,725.00, with a 15.55 APR the total vehicle price will be more the $50,000 by the time the loan is over. I sent a payment on 11/23/11 and the car was repossed without notification, I only owe like $ 4,200 on the vehicle wich was purchased on 2/2006, they repped me off and on top of that they took the car wich i dont even know it's location. The loan is maturing on february 2012. I feel that they stole my money and the vehicle.

This report was posted on Ripoff Report on 11/27/2011 12:09 PM and is a permanent record located here: http://www.ripoffreport.com/r/Capital-one-auto-finance/Long-Beach-California-90809-3016/Capital-one-auto-finance-I-Juan-Guity-Melendez-have-a-car-loan-1655-APR-for-72-months-802074. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

How is this a ripoff?

AUTHOR: Flynrider - (USA)

" I'm 3 months behind But I'm making payments on a regular basis wich is every 27 of the months "

  You're three months behind and you think it's a ripoff that your car got repoed?   Wow.    Just for fun, at what point do YOU think a repo would be fair?   Six months?  A year?   

  You agreed to make on time payments for six years.   You didn't live up to your end of the agreement.   When that happens, the lender repossesses the security for the loan.   Most people know this.  I'm not understanding why you don't.

"the car was repossed without notification "

    Stop and think about this for a second.  Pretend you are the bank and you have decided to cover your financial butt by repossessing a car from a chronic late payer.   Would you notify this person in advance that you are coming for the car?   What do you think would happen to the car by the time you got there?   This ain't rocket science.   The notion that a lender is supposed to warn you ahead of time that they'll be repossessing is comical.   Delinquent borrowers should expect repossession any time they are past due on a loan.  That's your notification.

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#2 Consumer Comment

Sorry for your recent trouble.

AUTHOR: Ken - (USA)

However, Capital One didn't "steal" your car.

I'm surprised they waited until you were 90 days delinquent to repossess...and NO, they don't have to provide notification to you of when they're going to repo it.

If asked, they will tell you the location so you can pick up any personal property from the car.

Good luck to you, hope it works out for you.
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