Fifth Third Bank ,Fifth Third Bank Auto Loan Nightmare Cincinnati Ohio

We have an auto loan with Fifth Third bank. Since the loan's inception it has been nothing but a problem. We were supposed to be financed through GMAC at 8% interest and the dealership processed the loan through 5/3 instead. The first communication we got from them was a letter saying the vehicle wasn't worth the loan amount and they weren't accepting it. We called them and they said that the letter was incorrect and the loan was accepted.

The loan was processed at the wrong interest rate and that supposedly was corrected but never was. The payment book didn't come for two months after the loan was processed; we had to call and ask for it from them. The first two payments were never applied to the loan because of the lack of a payment book and were termed delinquent; that got resolved. It gets better.

We go to the bank and they agree we should get the interest rate adjustment; oh, sorry, no can do but we sure can set your payment up for automatic withdrawal. No, thanks. They send us out a letter saying the car was not insured; it was and we sent them the proof. In the meantime 5/3 insured it and tacked another 40.00 a month on to the payment without explaining why and were able to send out a new payment book that time with no trouble. If you make a payment at the branch..good luck with them posting it and showing it as received on time and when you tell them you made it at the branch they tell you it needs to be in OHIO on the due date...is the branch not a part of your institution??? Guess not.

It gets even better...they send a repossesor to the house and he says the loan is delinquent and we have been notified by phone and letter (not really) and they take the car..no notice, no nothing and we let it go; we don't fight the guy (who thanks us and tells us someone pulled a knife on him before when he was picking up a car so he really appreciates us being so cooperative) and we are so embarassed that this happened we'd like to fall into a hole.

We pay to get it back; 600.00 in fees, 1900.00 total.....funny; the statement they can only mail to you shows 11 payments made from 2/08 to 2/09...sounds like one payment behind to me. We try to make arrangements to get it back..they can't find it....CAN'T FIND IT!

Wait ..wait...today we get a letter (6 letters actually in one day) stating as of 2/27 the loan will be delinquent and subject to reposession..they already HAVE the car, they already HAVE the amount they claimed was delinquent which they would only accept in cash or credit card payment, they subsequently sent out a statement that they charged 3.00 for with the delinquency letter showing it wasn't paid to them although it was along with an additional payment through March, they have the 600.00 reposession fee, they've sent letters after they've already taken the car saying the loan is in default and they're going to take it if we don't respond in a certain period of time, their employees won't give out their names; they are rude and arrogant and they will make an appointment for us to retrieve the car and they can't FIND THE CAR! And they tell us they don't know why they took it.

We had to file a police report to get the car back. We have it and paid the car off today. The gas cap was broken and the paint dinged and it had some mileage put on it.

Roadwarrior55
Elmhurst, Illinois
U.S.A.