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Hyundai Motor Finance / usury

Los Angeles, CA, United States Review updated:

There is huge difference between outright usury and disregard for consumers'rights and neglience. if the aforementioned was imposed on a struggling person attempting to cure the problem. if this entity label itself as a model company, that would be more outrageous.
I was victim of this usury when I attempted to recover my car that was impounded by my lender, Hyundai Motor Finance. My debt was 947.05 which included penalties, late payments surchages, reinstatement fees, and so on. They only accepted payment via Moneygram, Western Union and even gave me different versions to confuse you more.
I paid the due amount and I had to face another wall. I owed them $ 400.00 plus 9.99 fee for Money Gram transfer fee because they only take cash not credit card or other payments. This was for towing fee. I calculated the fee based on the distance from my house (street where they pick up the vehicle to the storage lot). based on Google map, the distance is only 4.8 miles roughly 13 minutes. That is roughly $ 83 per mile. City of Los Angeles charge $ 114.50/hr for standard vehicle (mine is 2009 Hyundai Sonata) and give and take 20 minutes plus another 20 minutes for securing the car, that not comes to $ 76. However, I had to pay 5.26 times the rate that the city of Los Angeles charge for towing cars. Since the car was within the city boundaries, I should be protected from this usury law.
Hyundai sent me a letter 6 days after (the car was taken at night of 12 and the letter was received on the 17th) ordering the impound with threats to sell the car at auction.

Storage Fees

The car was towed and taken at 10:30 PM of April 12th and retrieved on the 19th at 1:20 PM which makes 8 days of storage. This method of calculating favors the garage and tow operators and not you.
The garage also charged me $ 95.00 for storing my personal property for 3 days (actually two days because I went the next day to get my folders with important documents). They don't lose any chance of making money off you. This is America and we all get ripped off. I had to wait 20 minutes outside while they retrieved my stuff from the car. This does not make sense to me.
When I confronted the supervisor on why I was being overcharged $ 32/day storage fee when the letter that your company sent says that I am only required to pay the rate of $ 15.00, he evaded responsibility by telling me that HMF does not control the rate and only PAS, its contractor, who hid their charges of $ 75.00 to the final bill bringing my total fee of $969.00 higher than the amount that was in behind. They conveniently put behind their contractors while letting all the abuses go unchecked. The supervisor acted as if he did not know what was going on when HMF is known to be after late payments like a bulldog calling me several times at early morning. We would ask me why I paid the high fees at the end ? I had no choice. I needed the car to meet clients to make sales to not fall behind payments to HMF.

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Comments

  • We
      19th of Apr, 2012

    There is huge difference between outright usury and disregard for consumers'rights and neglience. if the aforementioned was imposed on a struggling person attempting to cure the problem. if this entity label itself as a model company, that would be more outrageous.
    I was victim of this usury when I attempted to recover my car that was impounded by my lender, Hyundai Motor Finance. My debt was 947.05 which included penalties, late payments surchages, reinstatement fees, and so on. They only accepted payment via Moneygram, Western Union and even gave me different versions to confuse you more.
    I paid the due amount and I had to face another wall. I owed them $ 400.00 plus 9.99 fee for Money Gram transfer fee because they only take cash not credit card or other payments. This was for towing fee. I calculated the fee based on the distance from my house (street where they pick up the vehicle to the storage lot). based on Google map, the distance is only 4.8 miles roughly 13 minutes. That is roughly $ 83 per mile. City of Los Angeles charge $ 114.50/hr for standard vehicle (mine is 2009 Hyundai Sonata) and give and take 20 minutes plus another 20 minutes for securing the car, that not comes to $ 76. However, I had to pay 5.26 times the rate that the city of Los Angeles charge for towing cars. Since the car was within the city boundaries, I should be protected from this usury law.
    Hyundai sent me a letter 6 days after (the car was taken at night of 12 and the letter was received on the 17th) ordering the impound with threats to sell the car at auction.

    Storage Fees

    The car was towed and taken at 10:30 PM of April 12th and retrieved on the 19th at 1:20 PM which makes 8 days of storage. This method of calculating favors the garage and tow operators and not you.
    The garage also charged me $ 95.00 for storing my personal property for 3 days (actually two days because I went the next day to get my folders with important documents). They don't lose any chance of making money off you. This is America and we all get ripped off. I had to wait 20 minutes outside while they retrieved my stuff from the car. This does not make sense to me.
    When I confronted the supervisor on why I was being overcharged $ 32/day storage fee when the letter that your company sent says that I am only required to pay the rate of $ 15.00, he evaded responsibility by telling me that HMF does not control the rate and only PAS, its contractor, who hid their charges of $ 75.00 to the final bill bringing my total fee of $969.00 higher than the amount that was in behind. They conveniently put behind their contractors while letting all the abuses go unchecked. The supervisor acted as if he did not know what was going on when HMF is known to be after late payments like a bulldog calling me several times at early morning.

    0 Votes
  • We
      19th of Apr, 2012

    I have been their loyal customer as lease client before deciding to purchase my current vehicle. I am refinancing with another lending and see nor hear more of HYUNDAI.

    0 Votes
  • Ja
      13th of Apr, 2013

    This company is A+ for lying they have repossessed my car after and arrangement was made, They lie, everyone should file a complaint with the Consumer Finance Protection Agency and Federal Trade Commission that had problems with Hyundai Motors Finance. They lie and when you call their corporate offices they just give you the run around and accomplish nothing.
    I have submitted copies of other consumer complaints to the Federal Trade Commission to see what sort of investigation they can do and to go back at least 10 yrs of their records and see all they have been doing illegally. I would like to start a petition to have them thoroughly looked into, The repo agent threatened me and even snatched the keys from my uncles hand, They tried to open my garage
    they actually broke the law by a law called Breach of Peace if you had this same issue with them file complaints to the Consumer Protection Agency and the Federal Trade Commission and also reach out to an attorney of what happened their repo agents are constantly doing the Breach of Peace. Hyundai can be sued. so start your complaints to the above agencies so they can be investigated

    +1 Votes
  • We
      15th of Apr, 2013

    I wanted to add to the grievances list this harmful practice. It is my knowledge that the repossessions take place mostly on Thursdays so that the owner of the vehicle does not have enough time to bring to current the default. Thus, repossession companies make 750 to $ 900 in repo fees plus absurd storage fees of 25 to $ 30 per day storing useless papers trash and small personal items in a plastic bags. Plus, the repo guys made illegal entry waiting outside of garage and following cars entering into the private property at 1:30 in the morning. I have the recordings of their entry plus their threatening to call the sheriff and make public embarrassment. All these tactics are truly despicable. Besides Hyundai Fiance Corporation demands that all payment be made via Moneygram or Western Union instead of bank wire or other payment methods. Worse, the agents make you waste time by giving ambiguous information and blame on you for not knowing when no clear information was provided. I was planning to payoff my loan balance and take my business elsewhere but the financial charge of sending the payment is over $ 50 because of their insistence on the aforementioned methods of payments. I am sure there are other consumers who are not only harassed by their daily phone calls to their homes, work place, cell phone but treated like pariah by unprofessional collection agents. These practices must be stopped and these practices be investigated in details so that consumers are not affected adversely. I will file formal complaints to the Consumer Protection Agency and the Federal Trade Commission so these illegal practices are fully investigated and made known to public of their abuses.

    0 Votes
  • We
      15th of Apr, 2013

    I regret purchasing Hyundai more after they were found out about cheating on the gas mileage but more after experiencing their low class service.
    Not only repo guys hired by Hyundai break the law by entering illegally that is trespassing private property but they seem to prefer Thursdays or Fridays to do their jobs to charge the weekend days knowing that very few people would be able to get their cars back. Worse, these repo companies charge between 750 to 900 dollars for repo fees and $ 30 dollars per day of storage and another $ 25 daily for keeping personal properties (even a pinhead, trash papers). Even if you were behind three months, the fees alone surpasses the arrears.
    Hyundai Finance's agents are known to give you roundabouts and conflicting instructions and they insist in only Western Union and Money Gram when same can be done via wire or online payment saving considerable fees to the consumers.
    All the vicious practices must be fully investigated as many consumers rights are violated and go uncontested. Time to file formal complaints with the Consumer Protection Agency and the Federal Trade Commission.

    0 Votes
  • Ya
      4th of Sep, 2016

    what agent repos for hyundai in baltimore city maryland ?
    [protected]@verizon.net

    0 Votes
  • Ya
      4th of Sep, 2016

    anybody know where the repos are taken for storage ?

    0 Votes

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