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Report: #1160668

Complaint Review: TREND FINANCIAL - Internet

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  • Reported By: RobertaKing — Kingston Ohio
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  • TREND FINANCIAL Internet USA

TREND FINANCIAL scammers Toronto, Ontario, Canada Internet

*UPDATE Employee: Response

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We went to a little off the wall car dealer who was really good to us and because my husband and I have been married before have less then great credit so we had to go with a higher interest company. The car dealer set us up with Trend Financial and let me tell you it will be the last time that I will ever deal with them...

when we signed all the paper work we were to receive the van that day, and then when we called the dealer up he said he hadn't gotten the confirmation yet so it would be the next day as that is what the guy at Trend had told  him, then we went on like this for a week and finally I got so sick of the run around I told the guy from Trend to forget it we won't be getting the promised product, not more then 15 minutes later we get a call from the dealer and he says can you come and pick up the van today... so we went and got the van, when we got there we had a long talk with the dealer and he said he will never deal with them again as they still hadn't even paid him for the van. Then we called the dealer up a week later because something was knocking on the drivers side and he fixed it for us even though he still hadn't received a cheque from Trend...

Then we changed insurance companies as we were going to be getting a cheaper rate, from the other company we gave them the details of the other companies info and the day that our insurance was to change we had until midnight that night with the one company and at midnight the other company was taking over and around 9 the next morning we get a knock at the door from the repo guy saying he was here to get the van as we were driving it without any insurance...

I told him he was wrong and that the company had already gotten the info from our broker and they don't have any right to the van. He told me that I was a b***h and that I should just pay my f**ken bills. I shut the door in his face and went into my living room and he was yelling through my window at me and said he would find the car one way or another... he then left and went to my husbands work and tried to get the van from my husband there and my husband you don't have any right and let him see the copy of the insurance...

then we changed bank accounts gave them all the information and they then tried to take the money out of the other account and our payment was 78.95 a week and we ended up paying in the end 186.00 anyway we got a letter from the bank saying it was between the bank and Trend who made the mistake and Trend still wouldn't come good for their part in that mistake, so we got an email threating us and making us seem like we were dead beats who didn't pay our bills, this was our first time with a bounced fee because of their mistake anyway, so we told them that when my husband got paid on that friday we would settle up with them...

so on the wednesday of that week again they sent the repo guy... so I told him that we told them that we would settle up with them on the friday and showed him the email... he walked away this time without the name calling or anything like wow... beware of these guys they are just out to screw people... and the government allow them to continue to do so...

This report was posted on Ripoff Report on 07/09/2014 07:17 AM and is a permanent record located here: https://www.ripoffreport.com/reports/trend-financial/internet/trend-financial-scammers-toronto-ontario-canada-internet-1160668. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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REBUTTALS & REPLIES:
0Author
1Consumer
0Employee/Owner

#1 UPDATE Employee

Response

AUTHOR: ericTREND - ()

POSTED: Wednesday, July 09, 2014

Hi,

On behalf of Trend Financial, I would like to appologize if you feel that you were not treated fairly.

Just so you are aware, Trend Financial funds over 400 auto loans in Ontario on a monthly basis. Just like any other lender, our requirements for a dealer to be funded for a loan is based on Trend receiving certain required documents from the client and the dealer. Based on your report above, it is almost like you are implying that Trend Financial has recieved all of the required documentation in order to fund the loan but we delayed the funding for no apparent reason. Obviously this is not the case as it is in our best interest to fund the loan as quickly as possible as delays are also costly for us.

In some cases, the dealer has delays due to the vehicle not being ready for delivery and it is easy for them to tell the client that it is the lender causing the delays. I would be more than happy to review the file with you personally to let you know exactly why a delay in the funding has occured.

In regards to the potential reposession; Trend Financial has strict guidlines with regards to payments and insurance being on the vehicle. Specifically in regards to insurance, our requirement is that we recieve proof of valid insurance 10 days prior to the cancellation of any previous policy.

The reason that we require 10 days is because if we waited until the last day, and if the client was not able to arrange insurance on that day, then the potential for the client to be driving without insurance is very high. Unfortunately, since the loan is structured as a lease, Trend Financial is listed as the owner of the vehicle and is liable if the vehicle gets into any accident. This is why it is clearly outlined in the contract that we must always have 10 days of valid insurance on each vehicle.

I understand your frustration regading the circumstances but i can assure to everyone that Trend Financial prefers that loans go to their full term and in now way benefits from repossessions. If a vehicle is being repossesed, it is most likely because we have already exhausted all of our efforts in coming to a suitable arrangement with the client.

As mentioned above, I would be more than happy to personally review your file with you and go over what we could have done better on our part with regards to communication and what we can do together to ensure that this is avoided in the future. Please email me at eric@trendfinancial.com to discuss.

Also, as mentioned above, Trend Financial is not a small lender. We are the largest non-prime lender in Ontario that is not owned by a bank or by a vehicle manufacturer. We have thousands of clients who currently have an active lease with us and it is growing consistently. I will admit that sometimes I do realize that we can do better and I do appreciate the feedback from consumers to make sure we are moving in the right direction. I want to make sure we can resolve this matter and get back on track so feel free to work with me directly going forward.

Thanks,

Eric Kaplan - COO of TREND Financial

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