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Report: #372192

Complaint Review: Wells Fargo Auto Finance Financial Bank - Lake Mary Florida

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  • Reported By: miami Florida
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  • Wells Fargo Auto Finance Financial Bank 3210 Lake Emma Lake Mary, Florida U.S.A.

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I have first hand knowledge of how the finance industry works. especially when it comes to financing a vehicle, motorcycle, boat, RV, etc. Wells Fargo is a Fraud.
Do Not use them to finance your vehicle. They are a sad petty company that does not play by industry standards, nor do they play by industry rules.

For instance if you ever go past due on your car note
they will use torture as a way of getting paid.
what I mean is they will call you day and night. EVERY DAY! all of the phone numbers they have for you will be called. everything from your cell phone to your work phone.

How do they get away with it you might ask?
Simple.They don't leave a message. once they leave a message at a particular phone number then they cannot call that number again until the next day. so all of your numbers are on an automatic dialer in one of their calls centers and the automatic dialer will call you day and night until they get someone on the phone. if they have called you all day and got no one then they will leave a message with the last call they make, usually just before they close for the day.
BE Careful with who you leave for a reference.

If you are past due and you ignore their phone calls and repeated messages, then they will call your references. They will skip trace you and even call people that you did not leave as a reference when you got the loan.
They will call your relatives, Your neighbors, Your landlord.

Not only do they make continued calls if you go past due, but they will find other ways of treating you unfairly even if you do nothing wrong.

They make Millions of extra dollars a year by scamming customers. They Will add insurance to your account even if your insurance has not lapsed just to make extra money. it is call Forced Placed Insurance "FPI". Or Collateral protection insurance "CPI".in the begining this insurance was created as a way for Banks to protect their collateral if the customer did not have insurance or allowed their insurance to lapse.
Now Wells Fargo uses it as a tool to rip off customers and make a few extra dollars. Even if you had no lapse and even if you have an active insurance policy.

Wells Fargo will keep charging you what they consider to be a fair dollar amount for the monthly premium for the FPI or CPI they have placed on your vehicle. which is usually always over inflated. Once they have you and Once they placed FPI or CPI on your vehicle, it will take them months to remove it!!!

No Matter how much proof you send or fax Wells Fargo to show that you have had no lapse and NO matter how much proof you send or fax Wells Fargo showing you have active insurance. No matter how many phone calls you make begging them to remove the FPI or CPI off your account. NO matter how many times you tell them you have sent proof.
It will still take them months to remove it.
Why? because they are charging you a monthly insurance premium and the longer it takes them to remove it the more money they stand to make. its a way for Wells Fargo to make some extra pocket change.
They do this to thousands of customers a month.

If you refuse to pay it and continue to make your regular car note without sending in the additional money for the fake insurance they added on to your account it will leave your account past due and eventually they will start to add late fees. if you still refuse to pay the fake insurance they added onto your account it could eventually lead to your vehicle being repossessed.

for example say they added fake CPI onto your account and your car note suddenly went up from $300 a month to $500. you refuse to pay it and continue to make your regular monthly payment of $300. that extra $200 you refuse to pay remains on your account. in 2 months you will owe them $400 for the fake insurance they added and your account will officially be considered a month past due by Wells Fargo standards. once your account goes to 90 days past due they will consider it for repo.
I say consider because Wells Fargo does not repossess all of their vehicles that go over and beyond 90 days past due.

They take a lot of things into consideration prior to repossessing a vehicle. it depends on how old your vehicle is, how much the black book value is, how much you owe them, etc. If your vehicle is too old, and not worth much, or if you don't owe them much money and are nearing the end of your loan. then it might not be worth the time and effort that goes into repossessing your vehicle and they will never repo it NO matter how many days past due your vehicle goes.
they will simply charge it off.

This is just a few examples of some of the shady ways Wells Fargo treats their customers.
if you need additional info please feel free to send me a request. I will answer all questions.

Friendforfinance68
miami, Florida
U.S.A.

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This report was posted on Ripoff Report on 09/12/2008 04:45 AM and is a permanent record located here: https://www.ripoffreport.com/reports/wells-fargo-auto-finance-financial-bank/lake-mary-florida-32146/wells-fargo-auto-finance-financial-bank-fraud-dont-finance-with-them-lake-mary-florida-372192. 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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#4 Consumer Comment

FriendsofFinance

AUTHOR: Madashell@wells Fargo - (U.S.A.)

POSTED: Saturday, November 15, 2008

we would LOVE to talk to you for some information

what you have posted has been VERY helpful.

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#3 Consumer Comment

What do you expect?

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

POSTED: Tuesday, September 30, 2008

What do you expect? If you don't pay them on time they are going to keep calling until you do! I know if someone owed me money, I would call them any chance I could get.

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#2 Consumer Comment

I have to agree with the OP

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

POSTED: Saturday, September 13, 2008

Wells Fargo do seem rather nasty to work with. I dont have any dealings with the place but had a BF that did.

He financed his vehicle with them in 2004. He was super Irresponsible to say the least. He seldom made his payment on time the first 6 months he had it. He failed to carry Insurance on it.....though he started with insurance he soon let it lapse. They never appeared to have discovered that for some reason. By mid year in 2005 he just stopped making payments on the vehicle. It was a nice SUV but he ran into financial trouble and apparently the SUV was the last thing on his list to pay.

WF would call n call n call. He didnt try to avoid them but when he did talk to them he was sooooooo incredibly nasty Im surprised they didnt repo it a lot sooner than they did. Finally in the summer of 2007 they warned him about repo. REPEATEDLY they told him they would repo it. It didnt seem to bother him at all. All he ever said to me was what idiots they were and he was tired of trying to work with them. How they didnt understand blah blah blah. OMG I was livid that he didnt seem to understand that they HAD WORKED with him.....they gave him a loan KNOWING he was extremely high risk. They basically let him default on a car loan for the better part of 3 years. In that time frame he hadnt made but 6 or 8 payments......thats from the DAY he bought it. OMG

Giving credit where credit is due......Wells Fargo NEVER called me....or any of his family OR his work place. But they did call his cell phone almost literally 20 times a day. You cant fault them for that many calls.....he wouldnt take them....he wouldnt make payment...hell he didnt even try to make payments after the first year.

In the summer of 08 they came and got the vehicle. They eventually sent him a "Na Nananana Ive got your vehicle letter" telling him he needed to pay them a grand total of $16,000.00 to get it back. First off he only paid 14 for it .....but thats how FEW payments hed made and how much interest and late fees had been attached. Then they sold it at auction and sent him a bill for over $12,000.00. He threw the letters away like he had the repo letters....the court hearing letters, the attorneys letters etc.

He doesnt care and Im sure WF is as sick of dealing with him as he was of them. Who is at fault here? It sure wasnt WF

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#1 Consumer Comment

dont agree

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

POSTED: Friday, September 12, 2008

im not a wf customer, dont like the bank at all but i happened to have my car financed with wf auto. first, you should pay your bill on time, you signed a contract to do so, dont complain if they call you a million times a day, they want their money, yes, the money they they gave you to buy the nice car you drive, that money is not free hon. so, pay, dont complain, if you cant pay, answer your d**n phone and talk to them, set up an agreement or a promise to pay next day, in a week, or even a month, they'll note the account and stop calling your family, friends, etc... now about the insurance premiums, grow up, car has to be fully insured if you have a loan, everybody knows that, if you changed insurance companies and it wasnt effective for two hours, thats considered a gap, you could of gotten in an accident in two seconds, so again, stop complaining, get a new attitude and be nice to the people you talk to next time, they are just doing their job, is not their fault that the world is f***** up... so, in short, smile more often, even when you talk to the 800 number people, u'll be surprised how much you can accomplish.

oh, and i had the same problem you did, it was a total disaster finding the right department to fax my proof of insurance, but when i did, i was nice to them, i had that supplemental insurance for 3 months, it took another month to cancel and of course they charged me that month too, but i was nice every time i called back to get an update, i got all my money and they send me a thank you card signed personally by the people at the office for being patient =) it felt good.

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