• Report: #607620

Complaint Review: Security National Automotive Acceptance Corporation - SNAAC

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  • Submitted: Wed, May 26, 2010
  • Updated: Wed, June 30, 2010

  • Reported By: dwerden2006 — California United States of America
Security National Automotive Acceptance Corporation - SNAAC
Mason, OH Mason, Ohio United States of America

Security National Automotive Acceptance Corporation - SNAAC SNAAC Funky business that doesn't honor their own contracts Mason, Ohio

*UPDATE EX-employee responds: THIS CLAIM IS TRUE!!!

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I got my vehicle years ago, financed through this company. Same old story.... in the military, young and inexperienced, got a car 'cause I needed one. That's my fault.


No, what's amazing to me is the way they talk to you, their customer. I get that they'd be huffy about a late payment- I'll admit I've had a couple with them- but literally, from the first one, without any prior history of it, they will talk to you like fecal matter, sometimes cuss at you when they feel like it. Doesn't exactly motivate you when they're already threatening legal action when you're 24 hours late.


So, long story short, the transmission blows on this car. I notice in the contract that it's covered under a warranty by SNACC for 5 years. I call them up to have them honor it... no dice. Considering this, I held off paying the payment so I can save up for a transmission build. SNACC calls a couple days later (expected, I grant) and I tell them I'm trying to save up money to fix the transmission... that's still under their warranty... and that's why I'm late. The female on the other end suddenly gets nice (she was practically screaming before) and tells me that the company will reimburse me for the repairs after I pay for it... if I pay a payment now. Found out later from one of their other reps (as I suspected at the time) that SNACC never reimburses for repairs, period.


So this is when I called the financing department and told them they can do whatever they like legally to collect the money. Just take the car- I told them I'd be far more compliant with payment if I had the opportunity to discuss the matter in court with a civil judge.


This is when the reduculousness kicks in. That was two years ago. The car's still parked on my property. They will not take the vehicle, as they state that it's not their vehicle. The money is. Funny thing the car registration says.....


They repeatedly send threatening letters, demanding money or they will proceed with legal action "immediately". They never do. That's a clear violation with FDCPA, by the by.

They do other stuff, and maybe I'll add to this after they submit their canned rebuttal to the webpage that gives zero information on their domain.


Bottom line: don't go with them. They're hilarious headaches, at best.


This report was posted on Ripoff Report on 05/26/2010 03:13 PM and is a permanent record located here: http://www.ripoffreport.com/r/Security-National-Automotive-Acceptance-Corporation-SNAAC/Mason-Ohio-/Security-National-Automotive-Acceptance-Corporation-SNAAC-SNAAC-Funky-business-that-doe-607620. 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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Updates & Rebuttals

#1 UPDATE EX-employee responds

THIS CLAIM IS TRUE!!!

AUTHOR: EX-SNAAC-MANAGER - (United States of America)

The warranties SNAAC sells--and profits from--are a joke at the company.  They were always dismissed as pre-existing conditions or whatever!  Then, a year or so after I started working there, they FIRE the only person who worked warranty claims.  Who handles them after that?  I guess if they don't plan on paying them out, then probably no one!

And here's how they profit from these "warranties", as they call them.  One, I was told that the owners, Ted and Becky, own the warranty company!  Now, I never ASKED Ted and Becky this because they'd look at me like "what's it your business, you just work here", but in the worst-case scenario that they don't profit from the direct sale of these warranties, they will off of the EXTRA INTEREST that it adds to your original financed amount which as we all know is as high as they feel they can make it while still keeping you paying them.  My ex-bosses face, the GOLDEN CHILD VP of COLLECTIONS & CUSTOMER "CARE", literally LIT UP when he told me that early on as if it was ingenious or something!  It's abusive and takes advantage of low income consumers if you ask me.  AND THIS COMPANY MAKES MONEY HAND OVER FIST!!!  I may release their free and clear profit amount in the near future to the dollar--I was in the executive meetings and watched them celebrate their most profitable year ever in 2009.  We're talking 2 people making MILLIONS AND MILLIONS off of those of us who have little at all.  And that's AFTER they pay their puppet executives!

Incidentally, they also FORCE PLACE insurance which means they charge you a RIDICULOUSLY high premium (usually 4 figures) to cover the car financed with comprehension and collision and ONLY to protect themselves if something happens to the collateral ("their vehicle)".  THEY DO NOT PROTECT YOU WITH LIABILITY.  Now that I think of it, it WAS almost 2 years ago, the owners might own the insurance company, not the warranty company, or maybe it was BOTH!  Either way, its one more way that they can INVOLUNTARILY take money from the hard working, young and inexperienced soldiers they focus on targeting.  SNAAC wouldn't offer a product they can't make money off of, regarledss of whether it might benefit the consumer more than them.

One more item:  SNAAC bought 400 to 700 contracts from people like you each and every month in the 2+ years while I was there.  Less than 10 of these were bought as civilians.  They FOCUS, PREY IF YOU WILL, ON THE YOUNG MEN AND WOMEN OF OUR ARMED FORCES. BEWARE AND ALWAYS REMEMBER THAT IF YOU DO BUSINESS WITH SNAAC YOU'LL PROBABLY GET JACKED!!!  

 

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