• Report: #218796

Complaint Review: Nuvell

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  • Submitted: Thu, November 02, 2006
  • Updated: Wed, May 02, 2007

  • Reported By:Clearwater Florida
Nuvell
PO Box 7100 Little Rock, Arkansas U.S.A.
  • Phone: 800-350-3561
  • Web:
  • Category: Loans

Nuvell Financial Ripoff Lost payments show payments late never call back cant get payoff BEWARE! Little Rock Arkansas

*Author of original report: Thank you for that information

*Consumer Comment: Maybe it was the Kia

*Consumer Comment: They get a commission for financing

*Consumer Comment: They get a commission for financing

*Consumer Comment: They get a commission for financing

*Consumer Comment: I am another one

*Author of original report: on a further note after reading some of these other reports...

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We had financed a 2005 Kia minivan thru Nuvell in Nov of 2004. Our credit is good, we got good rate, etc. and trusted we would have no problems after hearing that Nuvell was a subsidiary or similar of GMAC.

During the course of the almost 2 years we had this loan, we would see on bank statements that Nuvell would cash our checks sometimes up to two weeks after we estimated they should have gotten them. Twice during this loan, we received calls and letters, each more threatening, that we were two or more payments behind, when most assuredly we were not. We would then have to talk to numerous people and make copies of cancelled checks, bank statements and so on to get it straightened out.

The last time this happened Sept to Oct of this year was the proverbial straw that broke the camel's back. We received letters beginning in September that we were two payments behind. Again, nothing could be farther from truth. We made phone calls, only to ever reach a voicemail option could never talk to anyone live. The final insult was a letter we received on Oct 5, saying that they were concerned and didn't want to have to repo our van but then when it showed amount due it was 0!!!! We also checked our account online at their website and it said same thing, that there was no money due, it showed all the payments posted, and next payment due at end of October.

Two days later we traded in the van and got out of this loan and got a new vehicle and financing through our credit union, with almost no hassles except for one thing the dealership had the hardest time getting a payoff figure from Nuvell! They called 3 times, spoke to 3 different people and got three different numbers!!!! And, what makes this even funnier is that our payoff figure we printed off online, was different than the three verbals!!! (do they compound interest by the minute?) A week after the sale, we got a refund check from the new dealership because they got yet a FIFTH payoff figure and used that and called it a day!

By the way, NO ONE from Nuvell EVER called us back about the letters.

Anyway, we escaped Nuvell before anything bad could happen to our credit or our vehicle. And hence our warning to you.if your dealership wants to finance you though Nuvell run, run away as fast as you can!!!!

Joe
Clearwater, Florida
U.S.A.

This report was posted on Ripoff Report on 11/02/2006 01:02 PM and is a permanent record located here: http://www.ripoffreport.com/r/Nuvell/Little-Rock-Arkansas-72223/Nuvell-Financial-Ripoff-Lost-payments-show-payments-late-never-call-back-cant-get-payoff-B-218796. 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:
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Updates & Rebuttals

#1 Author of original report

Thank you for that information

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

I agree and suspected that they get some sort of kick back, it just seemed too odd that our credit union would turn us down, we had financing competing for the replacement car. And we helped out 16 yo son with a car, and financed part of it for him and we had no problem getting used car loan at good rate through GTE Credit Union. So basically, the moral of the story here is - if they try to finance you through Nuvell, RUN!
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#2 Consumer Comment

Maybe it was the Kia

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

Joe,

There may be another reason why the dealer steered you to Nuvell even though you had good credit. Many lenders will not loan on certain makes of cars including Kia, Hyundai, Yugo, and Oldsmobile. Perhaps Nuvell not only finances people with shaky credit but also finances cars no one else will deal with.
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#3 Consumer Comment

They get a commission for financing

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

Joe,

I used to work in the auto industry. Dealers do get a kickback (they call it a commission) on financing. When you arrange your own financing you can get a lower rate because the dealer does not get a commission. The original dealer probably never tried to get you financed through your credit bureau as he would not get a commission. He lied (yes, they do do that) and said it was a no-go for the CU but a go with Nuvell. The dealer probably could have gotten you a better deal and still gotten a commission by financing with bank or other first class lender, but if the dealer normally deals with the lower tier of the market he is going to send you to the same lender he sends the rest of his buyers.
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#4 Consumer Comment

They get a commission for financing

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

Joe,

I used to work in the auto industry. Dealers do get a kickback (they call it a commission) on financing. When you arrange your own financing you can get a lower rate because the dealer does not get a commission. The original dealer probably never tried to get you financed through your credit bureau as he would not get a commission. He lied (yes, they do do that) and said it was a no-go for the CU but a go with Nuvell. The dealer probably could have gotten you a better deal and still gotten a commission by financing with bank or other first class lender, but if the dealer normally deals with the lower tier of the market he is going to send you to the same lender he sends the rest of his buyers.
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#5 Consumer Comment

They get a commission for financing

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

Joe,

I used to work in the auto industry. Dealers do get a kickback (they call it a commission) on financing. When you arrange your own financing you can get a lower rate because the dealer does not get a commission. The original dealer probably never tried to get you financed through your credit bureau as he would not get a commission. He lied (yes, they do do that) and said it was a no-go for the CU but a go with Nuvell. The dealer probably could have gotten you a better deal and still gotten a commission by financing with bank or other first class lender, but if the dealer normally deals with the lower tier of the market he is going to send you to the same lender he sends the rest of his buyers.
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#6 Consumer Comment

I am another one

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

We have also had payments posting late, phone calls unlimted throughout the day and night, work phone calls, neighbors friends and family...collectors "acting" like they do not know what the laws are. I have worked collections in the past for 15 years the fair debt collection act section 803 states that they cannot call repeatedly or harrass you in any way. I have been reviewing the comments of other victums of this company, this is what we all are victums...
Maybe our credit was not the best due to our past but why should we have to pay now for mistakes in the past and who are these people who are treating us like trash...the collection laws are in place to help us and still we are all suffering..
I can only say that to the person who never has had this happen just wait, it will happen to you too. I hope that you never have to face a late payment and have to deal with a sick child or a loss at the time they decide to harrass you, I want to hear how great they are when you are late because your situation has changed...good luck to you your going to need it...
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#7 Author of original report

on a further note after reading some of these other reports...

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

...wife and I didnt have bad credit at all when we financed through Nuvell, after reading some of these other reports, it sounds like they are one of these "last resort" financers, like how ugly duckling d/b/a drivetime is. However, now that I think of it, the dealership we bought this van off of is one of those "everyone gets financed" type places. We just went there because the deals on the Kias were good, not be cause we needed to get financed. So now I am wondering if the dealership gets some kind of kickback from Nuvell? The finance manager told us our credit union had turned us down, and Nuvell was eager to take us at a lower rate than the credit union. Was that a lie? I cant remember what our rate was, but it was single digit.

And BTW we received an acknowledgment from Nuvell that the van was paid off....I better keep that in a safe place.

And, we had no problem getting our new vehicle, or financing, heck we had lots of options for financing, and we got a rate at 7% with no money down. SO I don't get what is up with Nuvell and how we ended up with them. Regardless, if you don't have the best of credit history, no one deserves to get jerked around, no one. Shame on them.
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