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Report: #1170265

Complaint Review: Lowermycarloan.com - Internet

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  • Reported By: John — Center Texas
  • Author Not Confirmed What's this?
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  • Lowermycarloan.com Internet USA

Lowermycarloan.com OPEN ROAD LENDING LIARS Internet

*Consumer Comment: Don't let the

*REBUTTAL Owner of company: Read the Letter

Show customers why they should trust your business over your competitors...

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 This company sends out cards to your home saying you are already approved and know your exact car loan how much you own and tell you what your new notes will be and how much lower your APR will be. Trying to call them and its just an recording to fill out online. They even give you a link with your name at the end from where you are supposibly already approved. When you fill out the online form with all your information they reply fairly fast. To tell you that you have been denied. I would have not filled out the form if I did not know I wasnt already approved all this does is give out all my information and then lower my credit score because it is ran by them if that is even what they are doing. I wasnt even looking for a refinance but if I could get a better deal why not.

Being that they had so much information of mine already I believed it was a done deal but was curious how they knew my information as my car note and APR as it is and how many payments I had left. I notcie there was the same complaint about them already on this site and they had a rebuttal with an excuse I had seen it before I filled out the form because I was caution and because of their rebuttal I thought maybe it was a true complete misunderstanding but I see now that it is not because they did the same to me. And before they even try to rebuttal and say I must have called on when closed I guess your closed on the weekday during normal buisness hours. You are not approved or preapproved so do not give these people your information. Hope no one else falls for this mess.

This report was posted on Ripoff Report on 08/16/2014 06:57 PM and is a permanent record located here: https://www.ripoffreport.com/reports/lowermycarloancom/internet/lowermycarloancom-open-road-lending-liars-internet-1170265. 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
1Employee/Owner

#2 Consumer Comment

Don't let the

AUTHOR: seyiitoldya - (USA)

POSTED: Monday, November 07, 2016

I too received a mailer which seemed as authentic as one would assume, especially being Roadloans initiated my loan process; yeah the wordplay. Then, I had paid over 40 payments and thought, like the other guy, why not go for the good deal? Especially with a $2500 check for my trouble. The associate explained I'd be refinancing my remaining balance then extending it over an additional 5yrs at 14% interest.

I thought about that aloud. I had only about $9,500 left in the loan, but by restructuring or actually entering into this entirely new loan, I'd owe $12,660 and I'd be nutts to do such a thing. She said it was the company's way of rewarding me. Some kind of relief program. Really?, by ripping me off?, and to add to their insult, she said I'd a check ok, but for a whopping $140.

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#1 REBUTTAL Owner of company

Read the Letter

AUTHOR: Chris - ()

POSTED: Monday, August 25, 2014

John - I can appreciate your frustration with the process and I do apologize you did not have a good experience like tens of thousands of other consumers that we have helped over the years.

The piece of mail you received is a pre-approval for you to refinance your auto loan. However, if you would read the back of the letter, there are certain requirements you must still meet. When we determine your credit worthiness, it is based on the information in your credit report. We don't know things like your job time, income, DTI or debt to income ratios, collateral information including year, make, mileage, amount owed, etc. and that is what we disclaim on the back of the letter for you to see. All of those items are factors in your final approval and rate/term of the approval.

In your case, your current employment time is under six months and therefore you do not qualify any longer for our best tier. We were able to approve you at a slightly lower rate than you are paying now but it doesn't save you a significant amount on your monthly payments. If after 12 months of employment with the same company you are still interested in lowering your monthly payments, please let us know and we will reprocess your application at that time.

Again, we do apologize for any inconvenience and hope we can earn your business in the future.

 

 

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