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Wells Fargo Auto Finance / watch that balloon payment!

1 United States Review updated:

Financed an auto with Wells Fargo in Feb. 2002. Each year (at least once a year) I would get a letter from them stating that I could skip that months payment so that I would have extra money for Christmas of a vacation. This skipped payment would be added on to the end of the loan. The letter did not say anything about a "balloon" payment at the end of the loan period, and I did not give it much thought. Then after the maturity date in Feb. 2007 I started getting calls from there collection department for this unpaid balance. Since Feb. I kept paying my usual monthly payment. I understood that my loan was extended a month for each month I was able to skip. NOT! Anyway, I paid them off today and feet that I have been misled and angered to the point that I will not be giving Wells Fargo any further business, ever!

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Comments

  • Ni
      6th of Aug, 2008
    0 Votes

    I agree with each and every complaint here! I purchased my 2005 optima in Dec. 2007. After having some financial hardship I decided to completly pay off the loan. After being told what the payoff amount was by 3 cs reps. and one so called manger JOSE who was down right ignorant. The payment was mailed in fact overnighted to Wells Fargo Payoff Dept. thinking I was finshed with this company FOREVER. I recieved a letter stating that there were additional funds still due. So after my conversation with 3 more cs reps. who had no idea where this letter came from I was told that if i made this last payment my title would be in the mail. Well needless to say I didnt recieve my title and i started to recieve the endless harassing phone calls again.So, i called and spoke with a cs rep who explained my payment arrived on day after the collateral insurance was added and now that i dont have collateral with the company but they have me down for the insurance. After explaining my situation he took my info and passed on to a supervisor. Who after a week called apologized and said he would take care of it. 3 days later i get a call now i owe twice the amount I owed before and theres no notes of the conversation between me and the manger. I still havent recieved my title. This is a poor excuse for a company no one knows whats going on but everybody wants you to make a payment even if you dont owe them anything. BEWARE WELLS FARGO AUTO FINANCE THEY WILL RIP YOU OFF!!!

  • Mo
      18th of Feb, 2010
    0 Votes

    how long did it take you to get your title???

  • Mo
      18th of Feb, 2010
    0 Votes

    These people are a BIG RIP OFF!!!

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