I own ( And still paying on) a 2005 Chevy Cobalt, when I decided to buy a car, I looked up everything that AOL had on car buying guides, including some articles of journalist posing for a time as car dealer's in order to get inside information and buisness practices of dealerships. Learning what I could I followed directions and went to the dealership of choice and present every thing up front to the dealer ( copy of Drivers License, copies of the website of the Make and Model with MSRP price, a copy of my credit report in which I would no allow them to look up my credit, and lastly though I thought I was playing it smart a printout of Nuvell preapproval. The Dealer was surprised, I had everything they needed laying in front of them, they even asked me were I got the Approval ( may have been a ruse.) so they could give the same information to other customers. Needless to say after all this I was not as prepared as I thought, it came time for negotiations and how much of a payment type I will be make, I told them before this that I would like to make a certain payment amount per month, eventually after dramatizing the fact the car I want was else where and that it would hard to get it away from the dealership blah blah blah, I got stuck with a 72 month payment of 422.20 a month, My trade in still had alittle under $3000.00 more l ike $2600.00 in which they payed off and get me to my new car. So I got stuck with a High interest loan, By now I should have it all paid off interest included,
Nope I got to wait one more year, and the car, I love my car, it's just now over a 100, 000 miles and due to the Backruptcy and Foreign ownership of GM; the car is not even worth what I have left to pay on it.
The author of this Blog (I guess) is right, what the author and most of you here have experience with Nuvell is true even to me, Yes I too have had my ups and downs finanically even have been late a few times, but I told them when I got paid next and it was set up from there I guess that would one difference, only one time I got another call on the same late payment I would be making and I told the caller there that I had setup a payment date. One other instance where I would be late I did not contact them to tell them I was going to be a few days late, though there is suppose to be a 10 day grace period, I was contacted the next day after the due date, THE NEXT DAY!!!, generally they are suppose to call after 10 days. Here I am now recently layed off on unemployment but I make my payments on time.
I understand that banks want to keep their accounts current, but damn this is rediculous, this Finanical Institution is a rip off, I see some of you here are starting Lawsuits, this is good also a Boycott on Nuvell would be even better! I wouldn't want anyone else to get ripped off with High Interest on their vehicles like me and everyone else here, so if your reading this because you are doing some homework on who to go with on a Car Loan Take it from all of Us when we say DO NOT, AND I REPEAT DO NOT GIVE NUVELL A THOUGHT NOT EVEN A SECOND THOUGHT WHEN BUYING A VEHICLE!! BOYCOTT IT ALL THE WAY!!! BRING THE BASTARD'S DOWN!!!
I am glad I have one more year of this sh*t, after that I am not going to use Nuvell again, and next time I buy a car I am going to do more homework on car lenders.