• Report: #825531

Complaint Review: New England Auto Finance

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  • Submitted: Thu, January 19, 2012
  • Updated: Thu, January 19, 2012

  • Reported By: Raymond — Derry New Hampshire United States of America
New England Auto Finance
522 South Broadway Salem, New Hampshire United States of America

New England Auto Finance Title loan, Smart trak loan, secured loan Salem, New Hampshire

*REBUTTAL Individual responds: You knew the rules.

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This company is located in Salem NH just a few short miles from the Massachusetts border. They advertise on tv offering loans for your car title and you keep the car. However they stuff the loans with high profit extras that you don't need and in my case didn't tell me they were optional. Then I had a rough patch a few months into paying the loan and the calls came daily. I told them I was having a hard time and they were not very understanding. 
They turned the file to be repoed and lucky for me I was able to pay down the past due before it got to that. I will never do business with this company again and warn other people to stay away from them. The employees there are trained to sell these extras and not say they are optional. Compassion is not in their arsenal as they did say there are no grace periods for the payments. 

This report was posted on Ripoff Report on 01/19/2012 09:18 PM and is a permanent record located here: http://www.ripoffreport.com/r/New-England-Auto-Finance/Salem-New-Hampshire-/New-England-Auto-Finance-Title-loan-Smart-trak-loan-secured-loan-Salem-New-Hampshire-825531. 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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REBUTTALS & REPLIES:
0Author 0Consumer 1Employee/Owner
Updates & Rebuttals

#1 REBUTTAL Individual responds

You knew the rules.

AUTHOR: Dean - ()

I have done done loans with New England Auto Finance approx 4 times. They are quick and simple loans without the need for credit wortiness or delays. The loans are secured thru the equity value of the vehicle. When you took the loan you knew this and were made aware of all the stipulations of the loan. These are, by nature, expensive loans, but can put cash in your hands quickly. These really should only be used as a short loan and payed back asap so as to avoid very high interest. The rules are simple and all that accept the terms of the loan know that failure to hold up your end of the transaction will and can end up with the equity (vehicle) being reposessed. They are not a bank, or a credit card company. Business is business and just because you had fallen on "hard times" one should not expect them not to retrieve their money in a manner that was outlined to you. My guess is you had fallen on "hard times" when you took this type of loan, and believed that you could keep up the agressive payment, which you could not. Like I stated before, I have done business with them several times, but only borrowed what I knew I could pay back in 1 or 2 months. You can borrow from Peter to pay Paul and not expect it to cause problems........I would absolutely suggest this type of loan and this company in particular,  to those that are cash strapped and need cash that day. Only borrow what you can afford to pay back in a few months. You dont pay, the vehicle is repo'd and auction. Simple loan, simple rules...

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