• Report: #846476

Complaint Review: westlake financial

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  • Submitted: Wed, February 29, 2012
  • Updated: Wed, February 29, 2012

  • Reported By: jw — fredericksburg Virginia United States of America
westlake financial
4751 wilshire blvd ste 100 los angeles, California United States of America

westlake financial shady car w/ my info incorrect,high int. rate didn't want to adj payments after right info los angeles, California

*Consumer Comment: How?

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I got a car loan from westlake financial, and after a couple of months noticed that they had the wrong name,& ssn, which made my interest high. When i got my info corrected, i asked them if that affected my payments, and i was told no.i never signed anything to switch my info over...my hrs got cut on my job & i fell behind on payments...got a new job and was told by their customer srvc to pay $538 by the end of feb. And that would out a stop to the repo process...i was told that the 1st week in feb...feb 15th the vehicle was repo'd with 3 payments left..

was then told to make a payment of $538 which i did and i could get it back and the my situation would be reviewed..(they also told my father this over the phone)...nx day said that i would have to pay the full amount plus fee's which came to $2300...got the $2300 a week later the vehicle was shipped to auction, but there was suppsed to be a 15 day hold so i could come up with the money...but they were still charging me storage fees, even though the vehicle was shipped to auction...as of today they said they want $2678.13 but is getting the cold shoulder...there was $6000 invested in the vehicle @ the time of repo...

This report was posted on Ripoff Report on 02/29/2012 09:42 AM and is a permanent record located here: http://www.ripoffreport.com/r/westlake-financial/los-angeles-California-90010/westlake-financial-shady-car-w-my-info-incorrecthigh-int-rate-didnt-want-to-adj-payme-846476. 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?

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

I got a car loan from westlake financial, and after a couple of months noticed that they had the wrong name,& ssn, which made my interest high.
- Just how did they get the wrong information?  When you signed the loan documents at the dealer what did the documents say?  Seems like there is some information missing.

But beyond that here is a little fact you need to know.  It doesn't matter if you only had 3 payments left.  Until you pay off the car it is NOT yours. That is right..even if you owe $1 they can Repossess it.

The next thing is that there may have been a "hold" to not SELL it at auction, but there is not one that would keep it from being transferred.  It also does not stop them from charging storage fees.  But they were not being nice or giving you a break in putting this "hold" on the sale.  Most likely the laws of your state require them to give you 15 days to be able to pay the balance.  But you can be sure that if you don't pay it by the 15 days it will be sold on the 16th day.
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