Complaint Review: Wells Fargo Financial Auto Finance - Las Vegas Nationwide
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- Author Confirmed
- Wells Fargo Financial Auto Finance auto-loans.wellsfargo.com Nationwide U.S.A.
- Phone: 877-898-4239
- Web:
- Category: Auto Dealers
Wells Fargo Financial Auto Finance Wells Fargo will not apply payments in excess of your minimum monthly payment to your principle Las Vegas Nationwide
*Consumer Comment: Are you sure it doesn't reduce the principal?
Show customers why they should trust your business over your competitors...
Historically I pay amounts of $10.00 to $30.00 over my minimum monthly payment. Last Month Wells Fargo Auto Finance only charged me the amount of my minimum monthly payment MINUS THE AMOUNT I HAVE PAID OVER MY MINIMUM... When I questioned why they did this, they would not give me a straight answer... Instead, they chose not to pay interest on the amount that they received in excess of the minimum and my principle remains unchanged... I have never experienced this w/ any other Auto Finance Loan in my life (and I have had more than just a few in my lifetime)... My recommendation is to never use this company again for any type of financial service...
Chief
Imperial, California
U.S.A.
This report was posted on Ripoff Report on 03/23/2009 07:48 PM and is a permanent record located here: https://www.ripoffreport.com/reports/wells-fargo-financial-auto-finance/nationwide/wells-fargo-financial-auto-finance-wells-fargo-will-not-apply-payments-in-excess-of-your-m-436935. 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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#1 Consumer Comment
Are you sure it doesn't reduce the principal?
AUTHOR: Nikki - (U.S.A.)
SUBMITTED: Monday, March 23, 2009
I do not have my loan with Wells Fargo, but my loan company does reduce the amount of my next payment by the overpaid amount.
However, on the reverse of my statement, it states, "Making payments in excess of the Regular Payment Amount will have the effect of reducing your final payment or shortening the term of your loan. Payments in excess of the Regular Payment Amount will reduce principal and show as a credit to your next months payment." See what the back of your statement says.
If your principal amount did not reduce at all since your previous statement, that may be because you were late and your payment was eaten up by the late interest.
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