Lobel Financial / Auto LoanTerrible company

Review updated:

I have bad credit but was in dire need of a vehicle. I managed to get financed through a shady dealership and they used Lobel Financial. From the very beginning they have been a nightmare. The very first month I had the car, they sent me a letter saying that I did not prove that I had insurance and that I was going to have to pay an additional $55 per month for them to cover it. I sent in a copy of my insurance with all the paperwork I signed at the dealership. My insurance agent faxed over a copy of my insurance binder the next day. The next month, I receive the same letter again saying they had no proof of coverage and I would have to pay the extra. Again, my agent faxed over a copy, and mailed a copy just to be sure they got it. Three months later, the same letter saying that they don't show that I have insurance. Twice more I faxed and MAILED the proof of insurance.See Top 10 Worst Companies in Anaheim, CAFor about 3 months I haven't heard anything from them. Then last week here comes the letter again. This time I paid $4.00 and sent it signature requested. As of last week, it had been sitting at the post office in Anaheim, not signed for. Now they have added the $55 to my payment. As of today, I am sending them a copy of my insurance binder every day until I quit hearing from them. These people are awful!!! I wish I had never gotten this car. The dealership went out of business two weeks after I purchased the car, and it wouldn't pass emissions. They were "fixing" it for me. I had failed emissions 4 times, had them repair it 4 times, and had another appointment on a Monday for them to take it to a real shop for repair. When I showed up that Monday, they were out of business. All the cars were gone and the place was locked up. For those of you who have bad credit, watch out for places like these.

Apr 03, 2013
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  • Ka
      Apr 10, 2013

    They are doing the same thing to me. Said we didnt show proof of insurance, yet we had ou insurance company fax us copies before we ever left with the car. And becuz of this they raised our payment from 349.00 to 497.00. Obvoiously after seeing ur post, I now know its their scam. I am leaving here and contacting the better business bureau! Thank you.

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  • Ma
      Apr 10, 2013

    I have sent a complaint to the Better Business Bureau and also the FTC. The FTC just sent me an email saying they are investigating, so the more people send in complaints to them the better chances there are of them actually doing something about them.

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