A few weeks ago, I inquired at several banks and Credit Unions about re-financing an auto loan and was told by the Credit Union, they could possibly offer a 4.5% interest rate.
Knowing this was a great interest rate, I got all the information I needed to get from the bank and the appropriate applications I could fill out at home. Then, I arranged to be off at work yesterday so I could take all the time I needed at the bank.
On 5/12/08, I called AmeriCredit and spoke with a representative who was very nice. I explained what I needed (A copy of the front and back of the title and the payoff quote). I then asked what their procedure was and what other things I needed to get ready before I went to the bank.
The representative (whose name I was sure to write down) told me that all I had to do was call AmeriCredit when I was at the bank and assured me that they could and would fax all of that information at the time.
It was about 3:30pm when I got to the bank which closed at 6:00 pm. (I was ready to be there in the am but that's another story). I had everything I needed and had asked the AmeriCredit rep for his direct line which he willingly gave me.
About 5:15pm, we're done at the bank ready to close on the loan; we just needed to call AmeriCredit. We call to find there is no way for us to get in touch with the rep because it is an inbound call center so calls can't be transferred. However, another rep faxes us the information we requested. We get the payoff quote and an image copy of the front of the title.
We call back to request the back of the title and told that it takes 48 hours. So I speak with a supervisor to find that this is the case and that the original rep mislead me in the information I requested including the ability to contact him directly.
After speaking with the loan officer, she tells us that many times it does take 48 hours. This was the reason I had called on Monday, I could have that information faxed to me by Thursday at the latest.
The supervisor was understanding and apologetic but told me there was nothing she could do because their records room where the titles are kept is closed but would put a high priority on my account.
I did everything I could to have everything ready and by the time I got out of the bank (6:15pm), I was unable to have the loan closed.
Hopefully,the fax will be there Monday. There will be an update to this review.
On 5/21/08, I went to the bank to see if the loan officer had gotten the papers as promised from the loan company. She did not.
I then called AmeriCredit back, explained the situation and what was needed. After verifying the account number, I was placed on hold. It felt so long that I checked the time on my phone (over 11 minutes.) Remember, all I am asking for is a fax I was promised on Friday to be in 48 hours from then which should have actually been Tuesday afternoon (if you include business hours).
I decide to hang up and call up. I immediately ask to speak to a supervisor. After verifying my account # and address, I am transferred to someone that is not a supervisor. Then, as I am starting to repeat my request we are disconnected. Okay, that happens. I call back a third time and this time they ask for my phone # for verification. A little frustrated by now, I give them my full address as well and now ask to be transferred to a supervisor.
Ten minutes later, a supervisor picks up. The same one I spoke to on the previous Friday and she remembered me. She then proceeded to tell me that they faxed us the information the past Friday. I told her yes, they faxed the wrong information and she was supposed to fax the correct information. Now, all of sudden, they forgot to do this.
Of course, by this time I am quite frustrated and tell her that I need the information faxed today (5/21/08) and until she tells me that she herself is faxing the information, I am not going to hang up with her nor is she going to string me along for another 48 hours. She then puts me hold of all things to speak with her supervisor.
Another ten some odd minutes later, she comes back on the phone to tell me that they pulled up my records and they are now faxing it. It took 5 people and almost 40 minutes just to fax something that should have already been faxed!
Tomorrow will make 2 weeks since I first called the loan company and they told me I would immediately receive the information while I was at the bank. It has now been one week since I've been to the bank to be told it would take 48 hours. It's been an entire day since I called back and was told they would put urgent on my request and the fax has yet to be received. If it takes any longer, the payoff quote will change which will require other paperwork and more headache.
On the upside, the credit union has been wonderful through all of this and very helpful. I can't wait until my loan is through them. There have been several people on here who have commented that the credit union is the best way to go and so far they seem to be right.