Complaint Rating:

Company information:
Wells Fargo Auto
Louisville, Kentucky
United States

My old car got really dangerous, I went car shopping w/ my mom, in 2004 & purchased a 2004 Accent, in August. One year later, I receive a call from Wells Fargo in Louisville, the woman Sheri Latimer stated that she was reviewing loans & noticed that I had always paid on time, she stated that Wells Fargo would like to have the loan between them and myself dropping my mom as the co-signer. I was really happy to hear this, because even when I made a payment, if it had not posted yet, even if it was one day late, they would call my mother - who would then reconfirm w/ me that payment had been made.
So, I take off from work, go to the W.F. A in Middletown, and discuss some things. I wanted to know what my payments would be: the same (of course at a higher interest rate, due to my mother having exceptional credit). I wanted to know if I would still have gap insurance, I was told yes - and cut off, she said "Ariel, everything will be the same the only difference is that your mom is no longer on the loan - it will be just you and us. I looked at your credit score, and you do need to take care of a credit card, however, you can also apply for one of ours. And you are also eligible to get up to $1000 back, that you have already invested in your car."

I swear thats how the conversation went - I was really happy when I left, because finally everything was falling into place... then came August of 2007, when my car got totaled out by a teenager going the wrong way. My gap claim got denied by Beacon Gap - I asked why, and they said because you REFINANCED. I immediately called Wells Fargo, & told Tammy, a long standing employee there, and I got Beacon back on the phone, Tammy argued that they were wrong to deny the claim, due to me being on the original loan. WFA basically thought that by me being an original olbigator with the original loan, that it transferred over - but it didn't. I would have had to open up a new gap claim at the time of the signing in September, just as I did when the car was first purchased in August of 2004. My gap ins would have cost me somewhere in the $300 range... had I known - I would have gotten it, when I received the invested money in my car... if Ms. Latimer had just told me bluntly that she did not know whether I still had gap insurance, I would have called Beacon myself and taken care of the issue, I had the money to pay for it. SO now, I get phonecalls all the time from Wells Fargo, all of them having no idea of whats going on - I have a $3000 gap, and I am now making payments of $276.59 each month, plus my current car payment - I realize that mistakes happen, but I asked all the right questions, and was told the wrong information! And because of that, I am suffering - I asked why is there not a disclaimer that includes your new account number, to say that if you previously refinanced to contact your gap subscriber - but I was informed by Trenice in the W.F.A that the consumer should be aware - I told her that I was aware - she told me that I should have read my gap claim policy better, and that W.F.A wants to get this account taken care of immediately - my loan payoff date was not until 2009 - I asked if it were possible for them to work with me, maybe do $100 a month - no was the answer, "Your agreement was to pay 276.59 until the loan was paid in full." I reminded her that I was not the original signer of the gap paperwork, my mother was, and that I inquired at the time of signing if gap was still on my vehicle. Trenice told me that "THAT WAS HERESY."

Conversation over - I am so filing in small claims court - this company is terrible - if they did not know, they should have said they did not know at the time, instead of telling me that I still had gap, OR they could have said "Let me take a look, you know I am not sure, it would be best for you to call Beacon & contact them." I believed their words, and thought they were right - implied covenant of good faith.