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Chase Auto Finance / dishonest business practices!

1 United States Review updated:

Division of Chase Manhattan Represent themselves as being Headquartered in Phoenix Arizona. Business Type - Automotive Leasing/ Finance Company.

Where to begin? Chase Auto basically are what has been commonly referred to as "thieves". This company although they were prepaid on a lease some 30 months in advance denied ever having receipt of such funds at several times during our lease "agreement".

In addition to keeping my money and never admitting to such fact and falsely posting such funds against my account, they falsely inflated buyout figures at the end of the "financing" agreement to include amounts never negotiated nor agreed to during the term of the contract.

Then after leaving several messages for a member of management to return my call in reference to the offer I had made to purchase my vehicle at the end of the agreement, I finally received a phone call from somebody who referred to themselves as a supervisor.

When I explained that I had offered to purchase the car at a figure some 2,000 dollars above market rates, I was told that they had without my consent supposedly "insured" their residual value meaning that it would benefit their company more to take back my car and resell it to a dealer for 5,000 less than the contract amount and that such insurance policy information would not be disclosed to me upon request.

Then on top of all of that... I believe Chase VIOLATED the Truth in Lending act... For instance by attempting to hide the fact that they had received their payment for the Lease in full prior to the Lease expiration... They charged an "interest" charge equal to approximately 33% ( Total of Payments received approximately 18,000---- "Interest" charges--- 6,000 an effective Interest rate of One THIRD... And then by charging the Same Interest Charge even though they had already received the Payments in Full prior to Lease end... They violated the truth in lending act by not fully disclosing this...

They basically kept my money without paying for it's use and then falsely inflated the Lease end buyout to intentionally attempt to deprive me of my rights in a piece of property I had paid over 21,000 dollars for...

This company is BAD BAD NEWS... Steer VERY VERY Clear of Chase Auto Finance... Chase Manhattan Bank and ANY and all of it's subsidiaries. They are not only dishonest. They are outright criminal and I have considered filing charges against them.

Oh by the way, their "supervisory" employee immediately created an argument and said that she would be filing charges against me for asking why I was being charged 5,000 dollars over market value to buyout a piece of property I had personally contributed 21,000 dollars to.

This is the sort of element you are dealing with when you deal with Chase.

STEER very very clear.

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Comments

  • Br
      10th of Apr, 2007
    0 Votes

    Sub: Fraud regarding auto lease

    In Jan 1997 we leased a vehicle at a local dealer which contracted us through Chase Auto Finance. The lease was agreed upon and set up for 48 months. Over the next 4 years we enjoyed a trouble free relationship with Chase, we paid our bills, we used the car. At the end of the 48 months, Dec 2000, we followed the Chase's instructions exactly from for end of term vehicle return. We brought it back to the dealer on the day prescribed in beautiful condition, ran a pre-inspection checklist with the dealer and went on our way. I expected we might be billed $200 to $400 dollars for some tire wear or something thereabouts as the lease did describe end of lease conditions and billing that would occur within about a month.

    Nearly 3 months later we received word from the "collections division" of Chase Auto Finance that we owed nearly $3000 dollars! What!? After some inquiry, I found they considered the vehicle repossesed and we were responsible for the $3000 difference between the lease residual and what they had sold if for at auction. Outrageous!

    I went the rounds with them for nearly 2 months trying to clear up the problem. I reproduced all records of 48 payments made for all 48 months of the lease agreement. I called, I complained, I finally got written letters from their department stating they were in error and we would not be charged. Sadly 2 of the 3 major credit bureaus still have "voluntary repossession" falsely attached to this Chase account which I've fought against occasionally for years.

    Case closed right? I'm ok with where we stand. It might be a blemish on my credit for 1 more year is all. I can handle that. So why the complaint here? Why bring this up in 2007 over 6 years later? I'll tell you why:

    Today I just received an audit from the IRS explicitly stating that I owed the IRS about $2000 dollars from my 2005 tax return because I had not declared an uncollected debt which had been declared by, yes, guess who, CHASE AUTO FINANCE ! Apparently this division of CHASE is being audited and their internal records have me and my wife written off as an uncollected debt.

    This just makes me sick that a company can screw up so bad and screw over an upstanding individual nearly 6 years after the incident. I hope Chase Auto Finance fries. They're actions are fraudulent at the very least and more likely, blatantly illegal.

    Now I'm off to consult with my CPA and see what steps need to be taken.

    AVOID CHASE AUTO FINANCE LIKE THE PLAGUE! They are scam.

  • Dw
      10th of Apr, 2007
    0 Votes

    They charge $10.00 a payment to pay auto online. Wow what a great deal for them, they save time and money by people paying online and then actually have the nerve to charge them $120.00 a year if they wish to do so.

  • Jl
      14th of May, 2007
    0 Votes

    Heaven help you if you pay off a load with these guys... I have been trying for 2 years to get a copy of the lien release. It became urgent last week when I wanted to sell the vehicle. I have been calling since 5/9 and and called 7 times today alone. I have been lied to repeatedly, "yes we will send a fax" -nope "yes we sent the fax" - nope. "we have a policy to not send faxes". Really!

    Then they had the nerve to tell me I was eligible for a credit card!

    And do I have the lien release? Of course not.

  • Ka
      17th of May, 2007
    0 Votes

    I have not been having the same problems as you, but I have been harassed by their representatives... Getting calls in the middle of the night for a 7 day late payment. Them telling me they would call me whenever they want and wherever they want if I am too stupid to make my payments on time.

    Class and professionalism are not their forte.

  • Ev
      17th of May, 2007
    0 Votes

    My dad, Billie J. Key passed away in Dec.2006 and I am an only child and had will that was to be given the 2002 dodge van that my dad had purchased new and it took me almost 4 months to go through his items and get cc and so on separated and I was not aware that a balance was owed, as I thought Chase Bank had credit life on this van. I received letter one day before van was reposed by a very hateful Chase Recovery man, that a balance was owed on van of $2200. I was not given chance to call, as phone nos on letter were incorrect. Finally, I got hold of Chase Recovery in Phoenix, AZ whom informed me the entire balance was due and they would not wait another month for me to get money, as loan would have matured in May if my dad had lived. The only reason I wanted van is because this was the only thing of my dad's that was left and it would remind me of him. He had no other things. Chase (Tasha McGilroy) would not even give me a chance to retrieve van. I guess they think an auction will bring more money than to let me pay it off and retain good relationship. I would never get anything from Chase.

  • Ro
      2nd of Jun, 2007
    0 Votes

    I paid 48 payments on time on my Chase Auto Finance lease. At the end of the term, I never received a wear and tear bill. Six months after the term I received a call that there was wear and tear due. I paid the agreed upon amount. They then listed my account as a charge off paid for less then amount due on my credit bureaus. This company is a bunch of scam artists. I have no tried for a week to find someone there who I can speak with about getting this removed. What a joke! Has anyone had a similar experience.

    Ronald Richards, Esq.
    Los Angeles.

  • St
      4th of Jun, 2007
    0 Votes

    We are having the same trouble with Chase. We had a lease with them that expired at the end of March 2006. They then tried to charge us for excise taxes for the previous year in Massachusetts. The problem was that we had moved to Kansas 2 years earlier and the MA excise tax no longer applied. They agreed to waive the taxes. We just now found that they have hit us on our credit report for settlement instead of paid in full. We are in the process of buying a new home and DO NOT have the time to waste on these creeps. We are going to lodge disputes with all of the credit bureaus until we can find a better solution.

  • Li
      9th of Jul, 2007
    0 Votes

    My parents both passed away within a few months of each other. Being the executor for each of them has been overwhelming, and having to deal with Chase Auto Finance has been one of the most difficult experiences I've had. They speak to you like you are a complete idiot, and that you are the one with the problem and that they are so wonderful that they are incapable of any wrong-doing.

    I have been waiting for several weeks for them to send paperwork, and I was told that they are not in control of the outside company that sends these papers... HELLO... doesn't this company provide a service for you?? Don't they work for you??? Are you not responsible for making sure that they are doing their job in a timely manner?

    I am so frustrated with them I could scream. I recently spoke to one of their representatives and said that I thank God that this is the only interaction I will ever have to have with them because their unprofessional manner is unexceptionable. I will never deal with Chase Auto Finance AGAIN!!!

  • Ch
      9th of Aug, 2007
    0 Votes

    DON'T DEAL WITH CHASE IN ANY WAY. IF YOU HAVE A LOAN WITH THEM, PAY IT OFF AS SOON AS POSSIBLE... CHASE IS OWNED BY A GROUP OF RAG HEADS IN THE MIDDLE EAST. THEY DON'T DESERVE YOUR HARD EARNED CASH. ### CHASE AUTO FINANCE.

    I PAID OFF MY LOAN OF $8,243.82. IMMEDIATELY AFTER, I GOT A BILL IN THE MAIL FOR AN ADDITIONAL $3,000 FOR WHAT THEY CLAIM "outstanding interest". They tried to post interest on an amount i paid off, saying i broke a stipulation in my contract. I had an attorney on base write them a letter, they responded with "representative error, we are sorry for the inconvenience and mistake." And they have the nerve to include another loan offer explaining how i can "save money".

    These guys are nothing but "bags of ###".

    I cant wait until i get deployed again, i think of chase auto finance when I'm engaged with these *******.

  • Mi
      18th of Aug, 2007
    0 Votes

    Chase Auto finance is worst company yet. First our loan was 4% on new car but for some reason we are charged different amount every month. When asked Chase reps have told me that "that was part of agreement" idiots.

  • Un
      6th of Nov, 2007
    0 Votes

    I have yet to start my dispute but they charged me through a jerk Jackson Volvo Hawaii 9000+ dollars atop of the sale amount for rent depreciation of the vehicle.

    Isn't the lease a form of rent? They charged me the 9k atop of the monthly payment.

    The sales guy is the one who set up the contract. I am filing it with RICO and have yet to see what can be done.

    It is interesting to see so many complaints. There must be a smart atty. Waiting to find us! We all should do a class action and slam dunk these horrible people!

  • Jo
      7th of Dec, 2007
    0 Votes

    They started a re pro because I was one month behind. Not really as they changed my billing date from the 28 to the first. Of the month. I did not ask for the change and when I brought it to there attention in numbers of letters. They wont change it back. Nail me with a bunch of legal fees. And call my work repeated each day like 8 times a day. And called my phone non stop. And threating to take my car. They are loan sharks... dont do business with them...

  • Jo
      28th of Jan, 2008
    0 Votes

    This cracks me up. All of these crybabies are with Chase "Custom" auto because they are former repos or bankruptcys that have crap credit. Then they come here and cry about high rates and how they are treated. It's jerks like you that make everyones rates higher so be happy anyone is willing to lend you money in the first place!

  • Ka
      14th of Feb, 2008
    0 Votes

    This company is difficult. I only had a credit card to pay my late car payment. They lied and sent me on three wild goose chases to pay it. I still could not get it paid because when i went to put the card thru they said only checks or atm. I am positive that there are some crooks here. who does not take credit cards? Very strange.

  • Ai
      14th of May, 2008
    0 Votes

    Yeah, I would have to agree with the naggy unprofessional approach that a lot of posters on this board have complained about. They call constantly and when you call back you get someone on the phone who is abrupt, rude and obviously does not know how to do they're job in an effective and legal manner.

    They're collections reps violate the FDCPA left and right: third party violations, passing judgement on one's lifestyle etc. fyi, disliking a customer's attitude is not a valid or legal reason for a repo or denying pertinant information relevant to it.

    Essentially, they're service is horrific and the people they employ sound like they just got off the short bus.

  • An
      1st of Jun, 2008
    0 Votes

    I refinance my Toyota Sienna 2007 with Chase because my home is with Chase too. Well, the problem is that Chase Bank did not pay off the whole amount, I refinance on February 15, 2008 now is June 01, 2008 and Chase did not pay yet. The Bank (Sovereign Bank ) I used to have my Auto Loan until February is sending me Late Payments note during May. On February 2008 I spoke with both Banks and they told me that all was O.K. Still after three month and a half Chase owe money to Sovereign Bank. They told me that is the dealer, so now I will speak with the dealer to see what is the true and to resolve the prob lem.

    I do not recomemd to refinance with Chase to nobody becuase they did not pay attention to this. I am paying them every month but they did not pay. It is not acceptable.

    Ana Maria E. Valdes

  • Sh
      7th of Jun, 2008
    -1 Votes

    FDCPA? This only applies to third party collections, NOT inhouse collections, so they're allowed to violate it. Also, don't get behind and you'll have no problem. It only YOUR fault that your bill wasn't paid on time, take RESPONSIBILITY for your own errors.

  • An
      16th of Jun, 2008
    0 Votes

    I have chase and had to miss 1 car payment. Now I am 2 behind because I don't qualify to have payments deferred to the end of the loan and continue with normal payments. I have never missed a payment in 2 1/2 years that I had the loan. They said they would consider it if I got a part time job on top of my full time job. [censored] Chase auto finance!

    Customer service sucks, and they transfer you to 4 different people to get 1 answer!

  • Bo
      6th of Jul, 2008
    0 Votes

    Wow! I am planning on paying off my loan with Chase Auto Finance in a few days (July 2008). I hope I don't get the same run around I am hearing about. I will use a cashier's check and keep all of my receipts and hope for the best. Only one or two of these posts mentioned getting an attorney to help with their problems. If I get any crap from them after I pay off my loan, I will go straight to my attorney. I don't have to worry about them ruining my credit because it is already in the toilet. At the time of my loan, I was just happy that anybody would finance me.

  • Jo
      21st of Jul, 2008
    0 Votes

    I have owned over 17 cars and Chase has been the worst expirience of my life. We all have hard times, and I expirienced one in thelast 6 months. After one late payment I started to receive rude threats daily by phone, harrassing letters by mail, and then letters being delivered to my house. And of course the visit from the local repossesion truck. This was all following the fact I explained my situation, and made payment arrangements in writing. They did NOT want to listen. They demanded I deliver the vehicle. I am sorry Chase is having financial diffficulties, but I would think by working with people in a PROFFESSIONAL manner, you may have less repossesions, and more return customers. As soon as I can get this vehicle sold or refinanced the better. Good luck Chase.

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