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  • Report: #882535

Complaint Review: Capitol One Auto Finance

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  • Submitted: Mon, May 14, 2012
  • Updated: Mon, May 14, 2012

  • Reported By: Kel1413 — Jasper Alabama United States of America
Capitol One Auto Finance
Plano TX Plano, Texas United States of America

Capitol One Auto Finance COAF Repo's car when payment was made day before citing "Yes I see your payment but you didn't call us" Plano, Texas

*Consumer Comment: You should have

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First I will say that yes I am behind in my payments, not disputing those facts, things in life happen. I was making my monthly payment and sending in extra when I could. Capitol One will only offer you programs to help you when you are all caught up with your payments, not such a help because if I was all caught up I would not need your help.

I made my monthly car payment in two payments through money gram a week apart, I made the second half on Friday and on Saturday the tow truck was there to pick my vehicle up. When I called the company the lady on the other end said, "yes ma'am I see where your payment was made but you didn't call us so if the truck is there you have to let him have it."

Do what, seriously you have my money, the account is no longer in repossession but you want to get into a pissing contest because of a phone call. And of course there are no managers working on Saturdays or Sundays to help so there is nothing they can do to help me because I didn't call them to tell them my payment was made even though they can see it on the screen.

Sitting at home yesterday and they call again, telling me that they have it in their system that I am up for a voluntary repossession and when can they come and get the vehicle. Really um no it was not voluntary and they took it yesterday and I explained the whole story to this guy. He was somewhat apologetic and told me that the reinstatement department was very fair and they would help me.

They sure helped me, told me exactly what I would have to pay to get the car back all the information I would need to send them once I paid them the money and also what all the other fees would be. Would not even listen to what happened on Saturday, didn't care. I then asked what the payoff would be as I have been paying on this loan for almost 5 years and the loan is only down by a couple of thousand of where I started out to begin with, how does that happen????

I would not recommend anyone no matter how desperate you are use them as a finance source they are loan sharks if I ever saw one.  They not only take your money but they also take the vehicle.

Not sure at this point if I am gonna be able to come up with what they are wanting to get it back but I am looking into legal action for what happened and if I have any recourse will certainly take it.

This report was posted on Ripoff Report on 05/14/2012 12:16 PM and is a permanent record located here: http://www.ripoffreport.com/r/Capitol-One-Auto-Finance/Plano-Texas-/Capitol-One-Auto-Finance-COAF-Repos-car-when-payment-was-made-day-before-citing-Yes-I-se-882535. 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

You should have

AUTHOR: Robert - (U.S.A.)

I made my monthly car payment in two payments through money gram a week apart, I made the second half on Friday and on Saturday the tow truck was there to pick my vehicle up
-
Based on how you wrote this report it sounds like your car was already "up for repossession", and I have a feeling you knew it.   So yes when you made the Payment you should have called them to give them the tracking number.  Because it can take a few business days for the payment to "filter" through the system to call off the repo man.

I then asked what the payoff would be as I have been paying on this loan for almost 5 years and the loan is only down by a couple of thousand of where I started out to begin with, how does that happen????
- Because it sounds like being late is a very common occurrence for you.  So you have what is probably years of added Interest and late fees to pay off as well.

Not sure at this point if I am gonna be able to come up with what they are wanting to get it back but I am looking into legal action for what happened and if I have any recourse will certainly take it.
- You have to remember one thing.  Until you pay off the ENTIRE amount it is not your car.  So while you have no recourse you may be involved in legal action.  If you do not get the car back they will sell it at auction, and while they will reduce the amount they sold it for from your balance.  They will sell it for a significant amount less than you owe.  You will then be responsible for the deficiency balance.   If you fail to pay that amount they may turn you over to collections, if you still fail to pay they may file a suit against you.
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