Los Angeles, California
4 comments

They try and scan you on paying double interest rate !! just because they think they can!!

They are the biggest rip out that is out there!! DO NOT GET A LOAN WITH THEM( trying to refinance my personal loan with them and they want to charge me 30% is that crazy or what!!! ). They call every day and your not even due for a payment.

My niece, my aunt, my cousin have had problems with them also, repo cars with one late payment just so they can get the interest money because they know you want your car so they can do it!!! HELP shut them down!!!!!!!!!!!

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Anonymous
#420086

Finance companies cannot collect any extra on repossessed/litigated/delinquent accounts. If they charge anything, it is due to third parties that charge for the collection method of the account.

Therefore, if the car is repossessed than they will charge you repo fees, auction/sellers fee(s) and any other method that was necessary to collect the amount owed on the account.

If the car sells for more than the balance plus repo fees and any other collection fee, than you will get a refund. With the majority that's not the case because repos don't make finance companies money, just recovering the money they lent out.

Anonymous
#419249

Finance company employees get paid by the hour so repoing your car is no advantage for them. Repossessions always sell for less than they are worth so it's no advantage for the company. Finance companies charge more than banks because they are dealing with people who are a higher credit risk.

Anonymous
#417592

Actually the last thing they want to do is repo your car. They end up

Losing money in the end most of the time. They do not get paid commissions for any loan transactions whether loan origination or collections collected

Anonymous
#404734

When you use a consumer finace company like them they are allowed by law to charge the highest rate possible under state law. They also get paid on the amount of money they collect on delinquent loans so they will repo a car in a half a heartbeat.