HSBC Auto Financeworkout plan will not work for you

L
This review was posted by
a verified customer
Verified customer

Hsbc auto finance is shady and underhanded. they will say one thing and then when you call to ensure that what they say is true, a whole new situation occurs. you know you're on the work out plan but the rep did not place notes in the system. oh abut the computer system is not the problem! the problem is that they record your telephone conversations and of course they can take poritions of it out. I would not deal with this company every again.
And while you are telling them, that is not what your customer service rep stated he stated that this or that. it is not considered!!! then they repo your vehicle and add additional fees to it! they are a rip off! save your money and buy a car from a reliable place who will be honest and work with you! you may even stay considerate and contact this company to found out what else can be done. yes, the phone will ring but then cut off.

Something needs to be done about them!

Responses

  • Valerie May 14, 2008

    I have also been struggling with this auto company. Received letter stating they are available to assist me anytime during the week. I phoned them numerous times May 13th and each time a recording came on stating "no one is available to take your call at this time, please try your call later". Which I did and got the same message. What a messed up company. This type of company will make me never trust any finance company again. I will save and pay cash from now on and curse any company that resemble HSBC. God help anyone who gets lured by their idle promises.

    0 Votes
  • Valerie Jun 04, 2008

    I am really upset because I have been attempting to call the HSBC main number for a week now with no avail.., ...The number I call is the [protected] and when I punch in my account # and hit option 2 afterwards, the automated operator responds and says the office is now closed. Terrible customer service!!! No one seems to know what's wrong!!! All they do is keep transferring me to numbers that are not able to assist me because they have nothing to do with what I am calling about. All I am wanting is to speak to a CSR!!!

    0 Votes
  • Valerie Oct 14, 2008

    Hsbc should be ashamed of themselves but we all know that they are not. Everytime I call I get the automated system that goes around and around and never gives you a live person. Then when they call you it is someone who does not clearly speak English. I do not know the names of the people I spoke with because I barely understood what they were saying. This is every month. I mailed payments and they opened and sent them all to the bank at once when they were dated and then they could not understand why I was upset then they took 6 weeks to return the fees to me. I had to change banks because of the way they do business.

    0 Votes
  • Ro
    Rolando Oct 20, 2008
    This comment was posted by
    a verified customer
    Verified customer

    I called to inquire about my account and the status. First, I was told by an Indian call center rep that my account was current. A few weeks later, I called again and an Indian lady told me I was current but only for the last 30 days. She could not research back the past 6 months or so. On the third call after about another couple of weeks, I was told I had delinquent 30 and 60 day records. I wanted to get additional information on why this happened all of a sudden. I was not given a satisfactory response. On the fourth call, I was patched through a call center in the Philippines and I was told that I had numerous delinquencies and they were going to update my record to reflect the delinquencies on my credit report. Come to find out, without delay, that is exactly what they did. At first, I did not have the delinquencies and just because I called to inquire, they made their discovery, found me to be uncooperative, and made my credit report worse than it was originally. I have hired an attorney to help me but it seems HSBC is standing by their inaccuracies. I had actually been paying on time and one month, I paid in advance. Evidently, this advance payment threw off their computer system. When I did not pay the following month, because of the advanced payment, their system recorded this as non-payment. We have argued this but they continue to bully us and disregard proper correction. This is by far the worst customer service I have ever dealt with. And come to think of it, we only have 2 months more to pay and the whole loan will be completely paid off. Out of the 60 months payments, I obviously have been late a few times but this does not give HSBC the right to be prejudice to me nor become retaliatory or discriminatory. I do not know what else to do. If this loan is completely paid off, the more HSBC will no longer have any interest to resolve and/or correct the problem. Please help if you can. Sincerely, Rolando [protected].

    0 Votes
  • Ta
    Tammy Wright Oct 30, 2008
    This comment was posted by
    a verified customer
    Verified customer

    They repoed our 1998 Ford Explorer in May 2017.We had never missed a payment but money was tight and we called them trying to work out soemthing they always refused well in April 04 we paid all but $50 of the payment in May they took the truck.About 45 days later they sent us a letter stating the truck had been sold and we owed this moeny yadayadayada...
    2 days later we get a letter stating we could get the truck back and that they would be willing to rewrite the note if we went a longer term...how can we go longer on a truck YOU SOLD?!?!?!
    After MONTHS of trying to get this resolved we decided fine we ere not paying Household over $18, 000 for atruck we didnt have we filed Chapter 7.Now I hope they enjoy EATING what they stole!!!

    0 Votes
  • Ed
    Ed Kunigon Nov 25, 2008
    This comment was posted by
    a verified customer
    Verified customer

    Up to ten calls a day on my personal cell phone which is used exclusively for family medical emergencies. There is no live person to talk with nor any effective e-mail address to lodge complaints or demand a stop to these unwanted calls. A letter sent to their San Diego address was not answered and the calls continued. Repeated complaints to the FCC only resulted in HSBC Auto Finance routinely changing the numbers they call me from. I've never had any account with HSBC and obviously never will. I'm at my wits end on how to put a stop this. Verizon Wireless cannot block the calls so the only real option is to change numbers which is a major inconvenience.

    0 Votes
  • Ch
    chris bednorz Nov 26, 2008
    This comment was posted by
    a verified customer
    Verified customer

    HAVE HAD 2017 TAHOE FOR 4 YEARS THROUGH H.S.B.C. EVERY SIX MONTHS HAVE TO FIGHT WITH THEM ABOUT HAVING INSURANCE ON THE VEHICLE SO THEY KEEP TRYING TO TACK ON THERE INSURANCE TO PROTECT THEMSELVES INSTEAD OF CONTACTING THE INSURANCE CO. WHO I HAVE IT THROUGH. IF THEY KEEP THIS UP THEY CAN COME GET THE TAHOE THAT I STAY TWO WEEKS AHEAD OF ON THE PAYMENTS AND WE'LL GET ANOTHER ONE JUST LIKE IT AND PAY LESS FOR IT THEY NEED TO GET OFF THERE DEAD ### AND HELP PEOPLE INSTEAD OF HURTING THEM. SORRY ### ARE ALL ABOUT SCREWING PEOPLE OUT OF MONEY.IF PEOPLE WOULD TURN THERE TRUCKS BACK IN TO H.S.B.C . THEY'LL BE THE ONES ASKING FOR A HAND OUT FROM THE GOVERMENT NEXT YOU GO TO STEPPING ON TO MANY PEOPLE YOU'LL BE OUT OF A JOB

    0 Votes
  • Cv
    CVCTMS Apr 13, 2009

    I have a similar problem with HSBC Auto Finance. I usually do my payments from their online website.

    I stop the monthly payment and they still took it after I canceled it! It caused major bank fees! They flat refuse to reimburse me the bank fees!

    Being on the phone for who knows how long the past week. I finally found a corporate number which I found online. IT was disconnected!! Called back and finally got the right number to call. I left a message for someone in the corporate office.

    0 Votes
  • Ta
    taj2009 Apr 22, 2009

    The same thing happened to me and now my credit is SHOT!!! I am so upset. I will never finance a vehicle with them again!

    0 Votes
  • Ag
    Aggravated May 08, 2009

    I've been in contact with HSBC since 03/30/2017. They sent me a Workout Request and I completed and submitted it. No one ever calls back when you leave a voicemail. I've been back and forth with different reps and Mr. Art Salido NEVER returns phone calls. After my FOURTH call, I selected to be connected with someone else. Guess who answered the phone? Why it was Art himself. I explained that this is the fourth call to him and why doesn't anyone call back to talk to me. His response was: "Well, you're talking to me now!"

    How frickin' rude. I've since then gotten bits and pieces of info of items that I need to send to them to put together paperwork to send to the "Board" for a settlement offer that Mr. Salido offered me over a week before. Only to find out that the info was not in their system of his offer to me and it would take 7-10 days for the board to approve.

    Boy, what a frickin' (I'm being nice) stupid company. I'm ahead on my payments but can see that I can no longer afford the car. I'm trying to work with them (even went to CarMax and got a price we can work with according to Art's settlement offer) but they just don't give a [censored]

    I'm wondering if they can be reported to the Better Business Bureau or someone. Maybe the local news?

    0 Votes
  • El
    eloy1948 Jun 04, 2009

    Do not buy from them, something goes wrong and they will have their hand in your pocket for life. I gave back my car and they desided to garnish my wages for the total price of the car even though I payed on it for two years pryor to giving it up. I believed the law would protect me from this but they don't the big corportations can do what ever they want to take fron us. I'm going to have to quite my job because I can't live on what I have left, I have never asked for help from anyone before but I asked them to work with me and they refuse. Just be careful who you do business with, HSBC is not a good guy. They will take from you.

    0 Votes
  • Te
    Terry Jun 22, 2009

    When my Chevy van broke down with expensive transmission troubles in 2017, my sister suggested instead of paying for a new transmission to try to trade in my van for a newer vehicle. At first I thought this could be a good thing, I could get a newer vehicle, make payments to re-establish my credit, And the dealership was offering a guaranteed $4000 trade in for my broken van for a used car.

    I settled on a 2017 Chrysler PT Cruiser basic model. The car had 16000 miles on it already but we were offered the extended warrantee with it. The total price for the car with the trade in was $14, 000. Everything was fine until the dealer had trouble finding me a financer. My credit was shot after hurting myself on the job 10 years before. I had a lot of unpaid medical bills I was fighting since the worker's comp was supposed to pay them. In the interim, I got stuck with them on my credit, lowering my score to about 545.

    The dealer finally said he found a bank to take my note, but I would need a co signer. My sister who went with me to the dealer agreed to sign for me, and after signing the papers I drove home with my new/used Chrysler.

    I am from Buffalo, New York originally, and HSBC is everywhere there. They have a 22 story tower there, bank branches throughout the region and they sponser the areana where the Sabres play. I even had my bank account with them for 15 years before moving to Indiana where they don't have branches here. I thought I would get the same level of great service I got in Buffalo, boy was I wrong!

    They never sent me a payment book for the car, instead they send a bill every month. The first bill I received said the total balance with the agreed upon 7.9% on my note was close to $17, 000. That seemed about right, and I started to make my payments on time, every month.

    Also, they had the wrong name as the primary borrower. They had my sister as the primary and me as the co signer. I called the 800 number on the back of the bill to question this and was told it didn't matter who's name was first, we were both responsable for the bill. This was the first red flag for my sister and I, but we knew we couldn't find anyone else to take the note. So I paid my bill, on time every month so it would not reflect poorly on my sister's credit or mine.

    However, there were some months when they would call claiming they did not receive my payment. I knew this could not be right since the payments were going to Carol Stream, Ill, which is near Chicago and we are in Indiana about 60 miles from Chicago. I pointed this out to the representitive on the phone that it only takes 1 day to get the mail from Indiana to Illinois and that the payment was mailed at least 10 days before the payment was due. Even if they had the slowest mail room in Chicago, they still should have received the payment.

    The rep barely spoke English, he had a very heavy East Indian accent. He insisted that I had to pay my payment by credit card right there over the phone. I refused, and informed him that it is illegal to make such a demand since he could not proove he was actually from the bank. When I pressed back for confirming information, he refused and hung up on me. But an hour later another rep called with the same tune, pay now by credit card. I again asked for confirmation that he was with the bank, and was hung up on. Again, this rep spoke with a thick East Indian accent.

    We stopped answering the phone to that phone number, and a few days later the calls stopped. However, every few months or so, I would get calls like this. I made a complaint with the FCC about harassing calls, then they stopped until I actually did have a late payment. But this did not happen until almost 4 years later.

    I recently hit a bad spot financially. The rising gas prices, my rent was increased, our utilities went up, so did the cost of groceries. This ment that the loan was getting paid later and later every month. So the calls begain again. This time they were even more agressive, threatening to repo the car with only one month past due. I missed 1 payment but continued to pay my payment leaving me steadily 1 month behind.

    They now call from about 6 different numbers, with different area codes. I went into the hospital in June for a few days. I do not have health insurance and I am self employed. If I don't work I don't get paid and thus don't have any money. I missed another payment with HSBC. I have tried to make as many payments as I can, even partial payments. However, when they send me my statement now, it says that the total of my partial payments is correct. But when you look at the breakdown of how they applied the payments it is nuts! It says for an example, they received $450 in payments that month, out of that payment $350 went to interest payments, $70 went to late fees and the remaining balance was applied to the princaple!

    I went back and took a good look at how the bills were applied for the last few years, they did the same thing, even when the payments were on time for over 3 years! They took a huge portion of the payment to pay 'interest' and then applied a small amount of my payment, usually less than $50 per month toward the balance owed!

    I have loans with other companies, two to be exact. Both of those loans has the total amount owed that includes the interest applied. When I make a payment to them of $110 dollars on time, my bill is reduced by $110 dollars. When I am late there is a set late payment fee applied that must be paid in addition to the regular payment.

    I have paid these blood sucking vultures over $12000 on my note which they say with the interest was a total of $17000. So how is it that my bill says that I still owe almost $9000? I don't know who is their 'math wiz' but there is no way I still owe that much on this loan. They are still threatening me with repo, and I am shopping for an attorney to sue. If they keep this up I will put the car in locked storage and buy a beater until this is resolved.

    0 Votes
  • No
    noneu Jul 25, 2009

    They are a bunch of paranoid inconsiderate egotistical lunatics. I am never over 12 to 14 days late on a payment and the phone calls are relentless after only 2 days. When this loan is over they will never see another dime of my money. Their company stucture needs a desperate revamping. Hopefully in due season they will hang their ownselves. I am completely wore out with their methods of business. Had I been aware of their hideous madness I would had never received a loan from them to start with. I advise all to reconsider before becoming entangled with anything that has to do with HSBC.

    0 Votes
  • Au
    autofinance Jul 29, 2009

    You might want to try calling them between the hours of 6am and 6pm pacific time!

    0 Votes
  • St
    steeler beast Aug 16, 2009

    WHY SHOULD I BE CITED FOR NOT HAVING PROOF OF INSURANCE? I FEEL THAT IT IS ONLY FAIR THAT IF WE PAY EXTRA FOR AUTO INSURANCE WE SHOULD HAVE SOME SORT OF PROOF LIKE AN INSURANCE CARD LIKE ALLSTATE...MAYBE WE SHOULD HAVE OUR AUTO FINANCE COMPANY BE RESPONSIBLE FOR OUR CITATIONS?

    0 Votes
  • Ju
    Julicoolie1316 Nov 10, 2009

    I purchased a 2017 Toyota Matrix from Planet Mitsubishi in Modesto, CA (now out of business) 3 yrs ago, financed by HSBC and have now found out the car has frame damage, may be unsafe to drive, is not worth anything near the loan balance and can't be traded in due to the damage. I am now unemployed and can't afford the car payments, can't turn the car back because HSBC definately doesn't want it. What recourse do I have to get rid of the car, get my money back from all the payments I've made on this car? I still owe 13k on this car and it isn't worth anything! HSBC financed this purchase knowing that it had this damage and now I find out I could be driving a vehicle that is potentially a death trap waiting to happen. I don't want to have my credit ruined because of this.

    0 Votes
  • Cr
    Crazyone Nov 17, 2009

    Its not HSBC fault. its the dealership that didn't disclose the damage. Pay your bill!

    0 Votes
  • Cr
    Crazyone Nov 17, 2009

    I have HSBC I never had a problem with them! Pay your bill on time and you wont have a problem

    0 Votes
  • Je
    jean rene pierre louis Jun 22, 2010
    This comment was posted by
    a verified customer
    Verified customer

    IN APRIL I MAIL A CHECK FOR 4, 912.75 TO FINISH PAY OFF MY CAR THEN NEXT THREE WEEKE I CALL TO FIND OUT IF THEY RECEIVED THE CHECK THEY SAID NO BUT I GO ONLINE TO MAKE THAT PAYMENT SOON I FINISH PAID THEY CASH THE CHECK I KEEP CALL THEM EVERYDAY FOR THE REFUND UP TO NOW I CAN, T GET THE REFUND ANY TIME I CALLING THEY TELL ME SOMETHING DIFFERENT

    0 Votes
  • We
    webeau1138 Oct 13, 2010
    This comment was posted by
    a verified customer
    Verified customer

    While I was deployed to Iraq in 2017 my insurance lapsed and I was unaware of it. HSBC found out and added their insurance to my car note (which is in the contract), however, the contract does not stat how the insurance is collected. What HSBC was doing was paying the insurance then putting the remainder of my payment to the car note. The whole time they never notified me of the situation. All of my payments are and were made on time because I had my payments on an allotment which means HSBC gets paid out of my check before I do. When I got home I was trying to reconcile the issue and they were being extremely rude threatening repossession and threatening my military career. They would harass me on my cell phone at the weirdest hours and they would call me at work. They disclosed my private information to my commander without my consent. They refused to honor the Soldiers and Sailors Relief Act. When JAG got involved on my behalf HSBC sold my account to Santander and they are following in HSBC’s footsteps. I bought the car for $12.500 and three years later I still owe over $10, 000. Every time I thought I was getting a little lee way I would deploy again and have to start over. It is sad to say but I am glad I am not the only one with these issues.

    0 Votes
  • Va
    Vacher096 Dec 16, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I had a car financed with HSBC. I stopped receiving statements and come to find out my account was sold to Santander. Santander could have cared less about my payment being late even though I had no idea what had happened. I have had some kind of problem every month since this new company took over. I ended up refinancing with someone else. Santander said they never received payoff for the car even though the check had been cashed three weeks earlier but they reported me to the credit bureau saying I was delinquent. Now I have to deal with that. GREAT customer service huh???

    0 Votes
  • Ni
    Nikki802 Dec 16, 2010

    Everyone who had an auto loan through HSBC has had the same issue, I now owe more (according to the new company) than i did just a few months ago. I will be looking to refinance as well.

    0 Votes

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