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Wells Fargo Auto Finance / wells fargo auto finance ripoff hurting millions of common americans!

1 United States Review updated:

I purchased a vehicle in late 2005 and used Wells Fargo as my finance company. I added the vehicle on to our existing insurance policy with Allstate and maintained that until switching agents (still with Allstate). We then changed to a family agent who placed us with TOPA/RMIS. We have never had any lapse in policy or terminations of any policy. However, shortly after we purchased the vehicle, Wells fargo has sent us letters indicating the placement of Collateral Insurance on the vehicle for failure to provide proof of insurance. OK, we thought this must be a mistake and someone's something didn't talk to the next person's somebody. We called Wells Fargo and submitted via fax the Insurance declaration page. Upon receiving our next 2 statements, we noticed the Collateral Protection charge is still factored in to the amount (nearly $2000!!!).

Then the collection calls began.

I called back to Wells Fargo and after fighting with a collection rep just to get to speak with someone regarding the insurance portion, I was finally transferred to a manager (or so I thought!) who explained that they had no record of receiving my proof of insurance. Did it just vanish into thin air? Did someone just not do their job? OK, mistakes can happen... we faxed it over again figuring this "manager" guy should settle this once and for all. 2 months go by, 4 months go by, and still nothing taken off our bill, all the while, the collectors are steadily calling and getting more in our faces and threating us with their veil little threats, as if it were their PERSONAL automobiles!

2 months after switching to our new insurance, we receive another Collateral Protection placement letter for nearly $2000! We went through the process of calling again, this time being directed to call Balboa Insurance directly. OK, now we're getting somewhere... not. After Submitting our OLD insurance and the NEW insurance to Balboa, it seems at one point they mysteriously don't have a record of receiving it, the next time they saw the notes in the computer where we submitted it but nothing was processed and that they would look into it. Several months had expired with nothing being deducted from our statements and now it is showing an outstanding balance just over $4500. You can imagine the flavor of the collection calls now. It was really getting nasty when we changed to our Family's private Insurance agent who placed us with TOPA. Of course we received another letter shortly after for Collateral Protection placement (can you guess how much?!) I promptly called again, and was directed to Collections. I hung up and called Balboa directly... again. This time I spoke to a representative who was only interested in receiving the proof of the current insurance coverage and would not listen or look into my claims regarding the other 2 CP placements. THIS TIME, THEY FINALLY showed a deduction for this 3rd CP placement amount.

I called again to resolve the previous issues, and was directed to have my Agent call. He did while I was sitting in his office. It has been almost 4 months since and things have not been resolved at all. We have followed every guideline we can and still nothing from them. Not only is their insurance outrageously high, but the internal mechanisms of communication between these 2 companies is nonexistent.

Additionally, I have previously purchased a used truck in 1997 wherein Wells Fargo was the finance company, and the same thing happened. It took them forever to get the records updated (both with Balboa, and then with Wells) to reflect the private coverage.

It then took almost 2 months for the reduction to show up on my statement.

We have recently purchased a new family vehicle and again, in no more than 2 months, we received a CP letter for this vehicle. We called Balboa and got the run-around. We then had our Agent call Balboa and 2 bills later the deduction appeared. We also received a confirmation letter from Balboa rescinding the Collateral Protection on this vehicle (for now!)

In my opinion, Wells Fargo Auto Finance could be a good company to work with if they maintained their policies from a management perspective, dealing with issues of oversight fairly and not as if everyone is a criminal (guilty until you prove yourself innocent... multiple times!!!). They should have better communication with their partner companies... but then again, THEY DON'T CARE ABOUT THE LITTLE GUYS WHO PURCHASE A LITTLE CAR FROM A LITTLE DEALERSHIP. They only care about their monopolistic gains and it is just a paycheck to their representative. No wonder American jobs are getting shipped overseas at record pace! Because we just don't care enough to do our jobs properly. I can truthfully understand if I were trying to rip them off and just say "screw them", but I am an average working class stiff, who has his financial ups and downs (who doesn't these days) but I am definitely not trying to NOT pay for something I purchased.

This whole company needs to be INVESTIGATED and a little CIVILIAN OVERSIGHT immediately! I would like to know how to initiate a class action law suit against them as there are numerous complaints regarding this practice.


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  • Ga
      31st of May, 2007
    +1 Votes

    I forgot to mention, in supporting this claim, my experience is not at all unique! What is prompting me to finally take action in putting this out in the open, other than shear frustration, are the NUMEROUS reports i have read in the past 2 days on Please check these out for yourself.

    I am currently in the process of cataloging all the complaints and adding them to this case to encourage action on their part, or, if I have to escalate to this level, to give the media something more than just my little complaint or experience.

    Please, I urge you all to check out the websites for yourself to get a clearer background on this, and do some digging yourselves on Google if you are caught in this trap. Then contact a competent attorney (my next step).

    Wells Fargo and Balboa are culpable and should be brought to bear the burdens of their malfunctioning system and correct their ways.

  • Ri
      6th of Jun, 2007
    -1 Votes

    Same experience as the above complaints with Wells Fargo auto center and problems with insurance from balboa

  • Ri
      6th of Jun, 2007
    0 Votes

    Auto purchase in feb. 2006. Financed by well fargo auto loan. Private insurance on car through out 2006. Insurance binder works, you pay 8 months out of the 12 months. Last payment paid later in the month, then it was supposed to be. Private insurance co. Took the check and cashed it. No notification from private insurance co. Of a lapse.

    Car is registered in family ownership with2 names. Parties were never notified of a problem until feb 2,2007. Balboa gave notice to the parties by telephone call. Immediately checked the information. It was correct. I proceeded to place the car under a home,auto policy consolidation plan. Insurance was issued on feb 21, 2007 covering the car.

    I started getting a bill for $771.00. I argued, i had insurance on the car. I was only notified about the problem two weeks earlier. I knew i owed something but not $771.00. I asked balboa to reevaluate the cost. They checked with my insurance co. And adjusted the bill a little. They started to take my car payments against the insurance until the credit was cleared by balboa. Now i am behind in the payments. April 10.2007 all insurance payments are caught up. I am still waiting to see a credit. June 6, 2007 still waiting. I like some help also with this problem and the ethics. I have learned about wells fargo. I would enter into a class action suit, if not resolved soon. Why so soon, i have been diagnosed with esophageal cancer stage iv. April 2,2007 maybe a year to live. I would be an ideal catalyst for such an action. You don't think the repeated phone calls requesting payment has not disturb me . The number of documented phone call back to them. The typed letter of complaint faxed to balboa with transmission time and acceptance answer about undo harassment. The documented proof of payment from them. Indicating they did not post the payment properly.

  • Tr
      15th of Jun, 2007
    0 Votes

    Wow! Almost the same EXACT THING happened to me!

  • Tw
      17th of Jun, 2007
    +1 Votes

    I am feed up this this company and I will never use Wells Fargo for anything in my life. I am telling my family and telling everyone not to use them at all.

  • Cy
      25th of Jun, 2007
    +1 Votes

    I have had the same issues with the insurance and balboa, but not only are they charging me for insurance that I have, they are charging me for something in 2002. I have been threatened of having my vehicle repo'd because i am "70 day" behind because my payments are going to insurance first. I am quite disgusted and glad to know I am no the only one!

  • Ja
      26th of Jun, 2007
    +1 Votes

    I must agree with you all. I was going to Iraq this past August, and had my insurance changed over to another company with no lapse. As you would know, I did not get all of my mail in a timely fashion or some it not at all. I then noticed this past May that I had charges on my account for insurance and that my payment was late. I called them, and they said insurance had been placed on the account and that I would have to call Balboa and take care of it. I spoke to a lady at the insurance company and she said that my agent would have to call. I had my agent call, and they verified the coverage since August. They were suppose to refund all of it. Currently WF say that I am 301 past due on my account. After numerous calls and different answers from everyone I finally spoke to a supervisor who said that I should not be behind and that she would issue an audit on the account. This was almost two weeks ago when she said it would only take five days. I have called four times since then, and still get different answers from people. I can not get the supervisor to call me back. I called tonight and spoke to someone in Tempe, AZ and she told me that both April and May and been reversed. I told he that she was incorrect, because you are only saying that I am behind 301, and it would be alot more if that was the case. I asked her to look at the previous notes, she got nasty, like most of them have, and said there was no updated information. She said all she could see is that I have called in. I then asked to speak to a supervisor. She than asked me why, I said because I want to speak to one. Then she came back on and said that she was busy, this is not the first time they have said this either. I then told her that I was not hanging up until you get her on the phone. The supervisor than came on the phone and said the same things the previous supervisor had said about putting a rush on the audit and that it should not be taking this long. But before she got on the phone the customer service girl told me that it takes 12 weeks for an audit and that they told me wrong when they said 5 days. Her supervisor said it should only take five days. So the issue is still unresolved. If I can find the email address of their EVP of Credit, I will be emailing him. His name is Michael J. Loughlin. There are many issues with this company. First, they are all rude ###, they do not communicate with each other at all, and they all have different interpretations of the policies.

  • Ji
      2nd of Jul, 2007
    0 Votes

    I made the gross mistake of buying a car not knowing WELLS FARGO would be the financial institution (institution being the operative word here) that I would be dealing with...The spanish inquisition was probably easier to deal with than these unprofessional, uneducated, poorly trained, incompetent group of "professionals"... I have been assaulted with phone calls that start as early as 7am and as late as 9:30pm asking where is the payment... these calls start when the payment might be exactly 3.5 hours late... When I explain that the payment has been made, the "caller' who pretends to take the information, doesn't bother to document the call or the information gathered during the call... as a result, when the next "representative" calls me, I have to explain it all over again. Clearly, this is an organization that does not communicate to each other... I also find it interesting that this "group of highly trained professionals" does not bother to train their staff in how to "scroll down" on the computer screen... I cant tell you how many times I have had to instruct the latest $8.50 an hr "trainee" to scroll down their computer screen and find the information that was "supposed " to have been documented 16 calls prior... Frustrating does begin to cover how I feel working with this organization...

  • Da
      10th of Jul, 2007
    +1 Votes

    Had the same problem, already had a high interest loan, then wells fargo auto finance slaps on an extra $165 a month for balboa insurance, but i had insurance the whole time. I played this game with wells fargo auto finance for over a year. Finally, i just gave them the car and guess what? They made tons of legal mistakes --- different reps told me different stories, lot's of threatening phone calls, followed by nice guy phone calls. They have to refund the balboa portions. I am not going to pay them a dime and if they sue me, i will sue them. Anyone interested in a class action suit against the fools at wells fargo auto acceptance - wells fargo auto finance?

  • Ba
      23rd of Jul, 2007
    0 Votes

    We are dealing with them right now since February they are not give are credit back to us that Balboa say they given but Wells Fargo is giving us the run around. Yes we would like to sue them they are tanking our credit and we don't owe them a dime. We have paid our car payment on time every month and this insurance thing is killing us. They have called our work and call three or four times a day and we do not owe them a dime.

  • Ph
      24th of Jul, 2007
    +1 Votes

    Wells Fargo Auto Finance sucks!!! I am trying to get my car financed through another company. The people there are so rude, when you make a payment they still call you that same day! NEVER GET A CAR FINANCED AT WELLS FARGO AUTO FINANCE.

  • Ch
      25th of Jul, 2007
    0 Votes

    I COULD NOT AGREE MORE!! Both my husband and I have had similar trouble with Wells Fargo. I currently have an auto loan with the fools and I am still trying to resolve an issue that began nearly two months ago. The ERRONEOUS collection calls during my work hours are embarrassing and NEED TO BE STOPPED. I cannot wait to pay off the loan and never think twice about these incompetent people again!!!

  • Jo
      27th of Jul, 2007
    +1 Votes

    I am currently going through the same issue, and have been sense feb 13. I have provided them with my current insurance information 6 times, my agent has provided them with the same information 5 times. They still seem to think I owe them money for insurance they placed on my car. I finally reported them to the BBB and they responded to the BBB requesting more time to research the issue. They never responded back to the BBB therefore the case is closed and it has been recorded as a negative mark for them. I am currently seeking legal help with this matter. I encourage all of you to contact LINDA FLEMING at 480-858-8945. She is the Executive Correspondence Mgr for Wells Fargo. She is the one named on the BBB report and will be named as well on my law suite. It may not hurt to bombard her office with complaints.

  • Gi
      29th of Jul, 2007
    0 Votes

    Recently purchased 05 kia from dealership was supposed to be with co-signer-dealership put loan in cosigners name only under false pretense i have paid payments and 2 payments ahead, recently received letter from wells fargo saying thank you for final payment? Week late the salesman calls me and says i need to start paying them and tells me i need to pay now (i asked for papers to be sent) he blamed it on me for writing letter to fargo about the co-signer--i call fargo and was informed that dealership had sent in ap for husband and wife then later sent in ap for husband only so fargo felt they were shady i cant find an atty local to deal with matter also i had gone thru ins issue also but got that corrected any advice appreciated e-mail me at i am very stressed over this as bad for people that were gonna co-sign and dont want to mess up their credit. Help

  • Al
      7th of Aug, 2007
    0 Votes

    While thankfully I have not had any insurance related issues with this vile company, fingers crossed, I cannot begin to describe the customer service related nightmares i have had. I will be the first to admit that I have some issues making payments on time as I have been through 3 layoffs within 5 years but I am doing everything I can to meet my financial obligations. Whenever I contact them I am always givven the run-around, and once, no joke, lie or exaggeration here, I was placed on hold for over 4 hours! After repeated attempts to call them and being placed on hold for "another department", not wanting to lose my place in line as "your call will be answered in the order it was received", I waited on hold on three different lines. My house phone, and two cell phones. When I finally got through I was told they needed more information and to call back later. I did not have my account number and they could not lookup my account by any other means. When I called back the next day with the account number, after waiting on hold for 1 hour and 27 minutes, they said they could not help me and gave me another number to call. I called it and the office was closed. At 4:00 in the afternoon! Now after a year has passed I contacted them again and I spoke with aa woman named Theresa, she treated me like a cockroach! She was completely unwilling to help me and told me to grow up and learn to pay my bills on time. After I sent the payment via western union quick collect, guaranteed funds, she began to attack me asking if I was going to learn to pay my bills on time in the future. I couldn't believe it.She told me since I had been behind three times in two years I needed to own up to my responsibilities. I have! I have paid them what I owe and juggled other bills trying to keep up. I know what my responsibilities are and am doing everything to meet them but in all my dealings I have never been treated so badly as a human being, much less as a PAYING customer. Once I finish this car loan, I will NEVER have anything to do with this company or its, rude, insulting, demeaning employees or "policies" again. If anyone has had similar treatment I would like to know. I know that I am not the only one.

  • Je
      21st of Aug, 2007
    0 Votes

    Yep, same problem here. They actually tried to refuse a payment. They also refused to give me an address to send payment. Something needs to be done!

  • Ru
      21st of Aug, 2007
    0 Votes

    My situation differs from what I have read here. Pleas allow me to explain. In August 2004 I purchased my car from a dealer then later moved from Erie Pa. to Wlison N.C. May of 2007 I sold off some personal assets for my job relocated me back to Erie Pa. So my wife and I decided to pay off the loan from Wells Fargo. Well needless to say but as of 8/20/2007 I still have no title to my car. My first call to customer service resulted in the CSA (customer service agent) telling me to just go to DMV and file for a lost title. I said no it's Wells Fargos responsibility to put forth the money for a title they lost. Besides what are the chances I'll get reimbursed. 2nd phone call different CSA tells me they will file for a lost title for me. Getting a little better result yes,NO. In the mean time I go to my credit union to transfer a personal loan of $7,000 from N.C. to Pa. They offered me 21% interest with payments @ $350 a month,why because my credit score has bottomed out because the loan paid off May 11 2007 still shows as a active account with no payments made since April 2007. Oh by the way I went to a Wells Fargo finance office here in Erie Pa. guess what. They say they have NO affiliation and will be unable to help me. I've gone to the Pa Attorney Generals office and am presently seeking legal counsel. If this can be used as a legal battle with Wells Fargo I to am willing to join in.


  • To
      25th of Aug, 2007
    0 Votes

    hey iam too one of wells fargo victims it's sad that all the company do is call harrass and think that it will make someone run right down and do as they are told they allow you to get a loan from them being the car note with all smile and then when you are in there good enough they wrap there hand's around your neck and twist til there is nothing left they tray to take they fight outta you knowing that you have a job to do and can't be on a call to them on hold for over 45min's ...but when they call you it's a striaght shot in!!!!....i had the insurance scam they have going on pulled on me i assumed that it was due to it being close to the end of my car being paid off they said that i didnt have insure ... said that the insurance company that i was with ..(wich came with the car from the dealer) .... advise them that i didnt have insure or i missed 1-2 payments i dont understand how the insurance company has a link with wells fargo but i get it know it's when you go to the dealer with no so perfect credit and they link you up with an finace company as they say who is willing to take you they make you get there insurance and then you can get your own or they set you up with a company ..well i played that fool and did it i was paying my car note and the insurance ,,,then i get this letter saying that my insurance company advise them that i didnt have insurance so they put ten thousand dollar more on my loan and then had the nerve to tell me that it was not the type i had with my insurance co. and that i would need more!!!!!... i hit the roof i called my insurance co to question this they said they dont see payment for two months ...come on now if you dont have insurance in c.a. the dmv is notifeid and then your license is suspend !!!!...they have this all ringed up together all of them ...someone need to file a lawsuit against them and we all will see how many pea's in THE POT THEY HAVE I NOW WE ARE NOT THE ONLY ONE'S OUT THERE!!!!!!!! something has to be done i'am looking into legal action on this and now that i see iam not alone there are othr people !!!! this has to stop ...i wouldnt even foud this is i diddnt need to get the address to send in my payment and had to go online fr the number to call them stumble upon this ...we all in a class action law suit on this or at lease get it on oprah!!!!!!!! let everone know not to do business with WELLS FARGO AUTO FINANCE OR ANYTHING ELS FOR THAT MATTER IF THEY CHEAT YOU ON A CAR GOD FORBID YOU LET THEM HANDLE YOUR MONEY!!!!!!!!!........THEY ARE MAKING ROBBERY LEGAL!!!!!!

  • St
      29th of Aug, 2007
    +1 Votes

    I received a call last night from Wells Fargo Auto Finance stating that I need to pay an additional $165.28 because they didn't have proof of insurance from me. I explained to the guy that I've had this vehicle for TWO YEARS, how could you just NOW be asking for proof of insurance, OF COURSE I have insurance. He said that he does not deal with it, and I needed to call the infamous BALBOA. I told him I would only pay the amount of my car payment, and he told me that was fine, but I would still be short because of the $165.28. He gave me the number to Balboa, which of course was closed.

    So I called the next morning, only to be presented with untrained, snotty phone reps from Wells Fargo. I explained to them that I had insurance and even had my insurance company MAIL, FAX AND CALL into them. I explained to them that I do not have $165 that they could just hold onto why they "review my situation." My insurance company sent my insurance to Wells Fargo A LONG TIME AGO, as required to by LAW. The snotty Wells Fargo rep said that they try to contact people three months in advance to warn them about not receiving proof of insurance, and she also said that they tried contacting my insurance company which is b.s.! She proceeded to say that if I'm even one day late in payment, that they automatically send the letter out, which is funny to me because I get my insurance AND car payments automatically withdrawn!

    I am headed to a Wells Fargo branch this afternoon to speak to someone in person, to hopefully get this all figured out, to make sure this does not show on my history, and to receive a damn good explanation for all this b.s. that has happened, not just to me, but to all of you.

  • An
      10th of Sep, 2007
    0 Votes

    I have a similar situation with Wells Fargo. Earlier this summer they lost a payment that Chase Bank says was sent and pending. It suddenly became my responsibiltiy to track this payment down to prove that the payment was made. All the time receiving app. 5 collections calls per day. I eventually had to stop payment, have the funds returned to my account by Chase, and submit another payment.

    Now, two months later, they say they have not received another payment. Chase bank has the transaction marked as paid which means that payment was sent, received, acknowledged by the recipient and cleared. Yet I still continue to receive app. 5 collections calls per day. I don't know about anyone else, but I trust Chase Bank on this one. The latest agent was incredibly rude and became furious when I raised my voice during the conversation. My reason for raising my voice was because she kept interupting me and would not let me complete a sentence. Our conversation ended when I asked to speak with a supervisor and she terminated the call.

    I'm obtaining financing from another bank and plan on paying off the loan immediately. I just hope I don't experience the payoff problems that others here have noted.

    If I continue to have problems, I will definitely file a complaint with BBB and I will consider legal action.

    If you're considering financing with them, please reconsider.

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