Wells Fargo Auto Finance does nothing but rip people off and herass them over the phone 15 times a day. Phoenix Arizona

i want to start by saying that i used to do collections for wells fargo auto and i didn't like them and will never finance through them, but this time it is the customer's fault.

you signed the papers for that loan at the dealership at that intereset rate. you could have very easily said no to that offer. i'm quite sure that is not the only dealership in your area. most of the interest rates are high with a wells fargo loan because they do give loans to alot of people with not so perfect credit. the average interest rate i called customer's on was 25%.

you definitely overpaid for the car. i bought a 2003 ford focus over a year ago and paid $8000.00 cash for it...and that included tax, title, and license. my car holds myself, my husband, and our 2 children just fine.

the problem you have with the calls everyday is something that will happen no matter who you finance with if you are late on your payment. that is something that always drove me crazy working there. customers would be so irrate over a call to them, like wells fargo is going to not try to collect their money or something. if you are late on a car payment, you will be called until the bank gets their money and they will take your car if you don't pay for it.

as for the insurance issue, what you stated is not true that you were forced to keep it for so long. if you change insurance companies, the majority of the time the new insurance company you switch to does not report that you are insured with them. the bank gets notified that you are not insured with the original company and then the process is started in added the cpi insurance. (collateral protection insurance) to cover the loan in case of an accident. if at anytime you are not insured or fully covered, the bank will add that insurance to the account to ensure that car is covered in the event of an accident so the bank is protected. that letter you got telling you notice of insurance is sent out once a month for 3 months prior to the insurance being added to allow you time to either get insurance or to send proof of coverage to the balboa company. if you don't the cpi will be added. if you do, the cpi will not be added or will be removed once the insurance is added. if you had to keep it, then you either didn't have insurance or you didn't have adequate coverage.

you said that they would call and harrass you when you were a half month behind. most banks call you after 10 days so that you can get a payment in to them before you are 30 days late and can avoid having it reported on your credit report. the only way to avoid the calls is to pay your bill.

my advice to you is to go to another bank and refinance the loan if you can get a lower interest rate or maybe sell it. you could start working and have 2 incomes instead of just your husband working. when we started having money problems, that is what i did.

I also use Wells Fargo Auto Finance, yes i have been late on my payments by a few days and have got a ton of calls each day to me i call that harassment! It has got to the point to where i don't answer my phone when they call, one time i did answer when they called i told them that i made the car payment at the branch and gave them the receipt number and they don't check the banks for payment and the calls will continue until the payment was posted these people are VERY RUDE AND HATEFUL and if they charge me that high of interest rate and high late fee like yours i will see them in COURT!!!!

I feel for the situation you are in, but the majority of this issue is the fact you bought an expensive $16 car. Heck my '06 Chevy Equinox we bought new, with cash for $18, so either you did not do any research at all in buying this vehicle or you financed in another car with this loan. Either way, it was too expensive for what you can afford.

We taught our daughter to work and save to buy anything she needed, which included buying her car. She bought and paid cash for her car, which was $500 cash and she drove it two years with no repairs other than her maintanence things like oil changes. My point is that it is possible to buy inexpensive cars for CASH and be able to fit a child in the car. She often took children in her car that she cared for. So, it is possible to find cars that are cheap and also are reliable.

If you do anything you need to sell the car private sale and get as much as you can for it. You will have to cover what it will not bring in order to get the title on it. If they repo it then they will sell it at auction for very little and sue you for the difference. That means a garnishment, which will affect your credit and that will slow down savings for a house someday, college for your little one etc...

I hope you will be able to sell it and buy something cheap. Please do not get caught up how "cool" the car is, "what kind your neighbor drives", etc...But what you can afford and what you can pay in cash. You are finding out debt is a hinderance. All finance comapanies will charge you a late fee, that is not just a Wells Fargo issue. Getting caught up is how those fees will end.

It seems as if there is a lot of blame to go around.

You paid $16,000 for a car that was 4 years old, you can get some new cars for that price. If you needed a "family" car you could have gotten a decent car for several thousand dollars less. Yes it may not have been what you wanted but it would have been more affordable to you.

As for refinancing the car dealer basically lied to you. No bank will refinance their own loan, it does not matter if it is Wells Fargo or any other bank. What you have to do is find a bank different bank that will refinance your car, and yes there are plenty out there. However, your interest rate would have only been lowered around 2-4%. But you didn't have to get the loan either. You were not "stuck" with a 20% interest rate. If you didn't like it you could have walked away from the deal and try to get a better rate.

Insurance, when you got the letter did you just ignore it or call Wells Fargo to see if you could send them the information? If you just ignored it why would you think that Geico would all of the sudden get on the ball and send it to them. Also, if you truly did have insurance you would not be stuck with Balboa once you provided proof that you in fact did have other insurance. Also, remember that with any financed vehicle you not only need liablity, but comprehensive and collision.

As for your apartment did you really need a 2 Bedroom? Yes a 1 Bedroom is less convinent and would not be easy with 2 people and a baby. But just think now if you had gotten a cheaper car and smaller place would you be in this same situation?