United Auto Credit Corp — Unscruptuously Lending Practices
Something is seriously wrong with this company and I am not sure how they operate anywhere. Upon reviewing the terms of a friends loan as well as the payoff information provided by this so-called business, I noticed a few irregularities. First using data provided by UAC, I computed the monthly payment for the loan using an auto loan calculator from a reputable bank. UAC's figure was a couple dollars higher, so I used several other calculators and every single one produced the same figure as the initial bank calculator. While doing this I decided to run an amortization chart for the loan, and oddly the payoff quoted by UAC was substantially higher than the figure on the amortization chart.
This is where the true colors of a shady business organization begin to show through. I called UAC asked about the payment, I was told: I'll have to look into that as well as...well, I can't do anything about that because the car owner agreed to pay that amount on the contract. I asked the customer no-service rep., How many people carry auto loan calculators with them when signing for a car? With that said I asked about the payoff, . And I got a lot of ... I'm not sure, I'll order an amortization and have it sent to you. Oh yeah right...(I didn't just fall off the turnip truck bud. )
After waiting a week, I didn't receive anything in the mail, so I called back. The same customer no-service rep says:...you didn't get anything? I said No, that is why I'm calling. He says he will order the amortization chart again. Fine. I asked what did you find out about the payment info I asked you to look into. Ah...hmmm hawwww...I dropped the ball on that, I asked are you going to pick it up, or is there someone else I should speak to? No I'll get back on it. (I didn't hold my breath!)
One week later, I still had not received any paperwork. I called again, this time the customer no-service rep isn't in and someone else answers the phone. I explain I have talked to Mr. X twice over the course of the last 3 weeks regarding an amortization chart for this loan, I explained I was told I would receive it in the mail and I still don't have it. Whoa, this woman goes off, saying we do not have those. I explained, Mr. X said he had to order it, and she repeats, we do not have those. Then she start going off on me saying I need to lose the attitude, she doesn't have to talk to me and she can end this phone call right now. I told her calmly twice I do not have an attitude and she starts all over again. I asked her if she was Mr. X's boss. Yes, she is and then off she goes again. (I think I struck a nerve.) She told me she could give me the payment information and that was it, I opted for the long pause...and said interesting...Thank you ...
And then I hear "Click"
Wow what a shrilly-raging unhappy woman, glad I don't live near her!
Well let me tell you if you are out looking for an auto loan, do not and I repeat do not use this "so-called business." From my experience, you need to take an accountant with you when you sign your loan, because, if it is calculated incorrectly in their favor, you are on the hook and they will pocket the overage. Their personnel are unprofessional, immature and obviously have anger issues most likely because they are not trained, have substandard tools to work with or a just plain lousy employees.
Pathetic. Making money off people in what appears to be highly inappropriate tactics if not illegal practices. I will get in touch with the Attorney General Office in my state.
I recommend if you are in a loan with these leaches, get an accountant or other financial professional to look at your loan, calculate your monthly payment, request a pay off report that shows when payments were applied and how they were applied.
If your accountant thinks something is fishy, file a complaint with the better business bureau as well as your State's Attorney Generals office.