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Posted by Sis Bynum on 01/05/2010
801 CHERRY STREET, SUITE 3500, TEXAS -- This company financing practices must be stopped. So many people like myself were told by the dealer (Lincoln Mercury in my case) upon the purchase of a car that you sign for this 19% interest rate loan and after 1 year you can refinance. First big mistake!!! Buyers please be aware, that you will be stuck with that automobile until it is paid for. My payment is 430.00 a month and over $3,000.00 of the my money paid for one year was interest only. Only $1,700.00 went toward the principle. There are so many hidden charges with this company. I can't see this being fair business practices. Once this happens to the right person then there is no help for people like me that are being robed legally. God did not mean for us to be taken advantage of like this but we must learn from our mistakes. If I could suit the dealer that lead me in this direction I would, unfortunately they are out of business. I've have several automobiles financed and some with higher interest rates but never in a situation like this. I'm over $6,000 dollar upside down and this has never ever happen to me before.

There should not be anymore signed contracts until a representative from these companies make it clear what you are getting your self in before you sign the dotted line. Some of us would be in a better financial status if there were not financial institution like Americredit setting you up for the kill. I'm believing God for an answer. My credit is pretty good but I can't get anyone to touch this loan because of the value of the car and what the payoff is. Buyer Please BEWARE!!!
     
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Posted by Critical_level2 on 2010-01-05:
Why would you ever agree to a 19% interest loan? Sounds like either you had extremely bad credit, you weren't paying attention and signed whatever they gave you, or you didn't shop around for the best rate.

I would suggest calling around to a few banks and such to see if you could get a lower rate and refinance with them.
Posted by dreamcruz on 2010-03-28:
Is it possible to make double and triple payments in advance to cancel out the interest part of the loan? If so would you save money and pay the car off sooner? I believe I have a out on my auto loan with them being they are harassing me about the verification of employment. I plan on writing a full review tomorrow.
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Americredit Repossession is Ridiculous
Posted by Dixie_Girl_06 on 07/12/2010
TEXAS -- I had a vehicle with this stupid place and lost my job in Jan 2009. I tried making & keeping up with my payments as much as I could. Unfortunately, I couldn't keep up - called to make arrangements and they didn't want to help me and it's ridiculous. I got behind and all of a sudden one night they show up and take my vehicle (last Tuesday) and I call the next day because the lady that came to my house when the vehicle was taken said I could call these a - holes and make payment arrangements and get my vehicle back. I call the jerk offs and am told I need $2058 to get the vehicle back - that's for past due balance, legal fees, repo fees, & late fees and then they said I'd also have to pay separate storage fees when I pick the stupid POS up from the repo company. Today I get a letter from the dumba$$es that says this letter is to inform you we have repossessed your vehicle - really, you did? I hadn't noticed I didn't have anything to drive anymore!!!!!

Now they want $8721 dollars for a piece of junk vehicle that has tons of problems and wasn't even close to that amount when purchased. Well, here's to you AmeriCredit & I hope you come on here and read these - You can shove this van up your you know what!!! I am buying a vehicle from a private seller - someone who isn't going to rip me off as bad as you have - and then I'm filing bankruptcy so you can shove the delinquency (difference in selling price and balance) up your holes. You all suck and you are inhuman. I hope one day you are in the same predicament that you have placed many of us in and there's nobody there to help you!!!
     
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Posted by NickL11354 on 2010-07-12:
Do you expect sympathy?? You took a car loan (a SECURED) asset and didn't pay. They repo'd the vehicle as per the TERMS of the LOAN you signed

Oh and good luck with getting another car loan with a repo on your credit report. $8,000 is all its worth?? must have been one of those economy GM P.O.S's like the Aveo.
Posted by ejack053824 on 2010-07-12:
Business is business..it sucks you had your car repossessed but if you didn't have the money then what choice did they have? Read..read..read your finance contract!
Posted by Anonymous on 2010-07-12:
Ahhhhhhhh....so you were the one I saw on Operation Repo.
Posted by PepperElf on 2010-07-12:
wait... you're going to buy a car
and then file bankruptcy
just to "screw them over"

isn't that a bit like cutting off your nose to spite your face?
especially since a bankruptcy will be on your credit report at least 10 years

and it does NOT get you out of paying your bills
Instead, your non-exempt property is liquidated to pay the bills. which means you could lose a lot of your property.

Posted by PepperElf on 2010-07-12:
http://www.creditinfocenter.com/bankruptcy/bkProperty.shtml

before you go bankrupt to spite them read that.
it's a list of what can be taken away to be sold to pay the debts

http://research.lawyers.com/Texas/Bankruptcy-In-Texas.html
and that may help as well
Posted by Starlord on 2010-07-13:
I just read that KIA is one of the firms that probably won't be around after 2011. Kia and Hyundai are owned by the same people, and Kia's profits were seriously down the last quarter, and The folks at Hyundai feel the Kia is draining off sales that could be more meaningful. They figure why compete with yourself, so it looks like Kia will bite the big one. As far as the repossession, where did you get the idea that the finance company had some obligation to feel sorry for you and let you slide on your bill? They are in business to make money, and if they forgave everyone who gave them a sob story, they would not be in business long. I used to do some repo work back home, and it always amazed me that someone several payments behind on their note felt that the dealer or finance company should just let them pay when they were darn good and ready. Homey don't play dat game.
Posted by Helpful on 2010-07-13:
I can feel for anyone who loses their job. There's a lot of that in this economy. It doesn't mean you're not liable for the payments on the car, along with additional repossession fees. I can say, as others already have, it will become difficult to get a decent loan for any reasonable car with poor credit. Taking out bankruptcy isn't going to help either. And, if I'm not mistaken, bankruptcy doesn't simply discharge your debts as it use to. I'm going to have to check out that link that Pepper has left. (Thanks Pepper).

Further, I know we're to refrain from speaking about the way a letter is written, but come on. Are we suppose to show any form of sympathy for someone using vulgarities like this throughout the review? My guess is this review is one that will be deleted by the staff.
Posted by clutzycook on 2010-07-13:
I read this one last night (such a nice little bedtime story). I abstained from replying to it then because I had nothing nice to say to the OP. But you guys pretty much took the words right out of my mouth. I guess the moral of the story is pay your bills or don't come crying when they take your stuff away.
Posted by ejack053824 on 2010-07-13:
Agrees with Starlord regarding the repossession advice.
Posted by sgfsteelers on 2010-07-22:
That's funny, I had a loan with them & we got behind due to that little addage of life happens. I called them - before I was late & told them that I was going to be paying the next payment late. I continued to call them - in other words, they did not have to track me down, I stayed in contact with them. I got as many as 3 payments behind at a few different points, but they knew that they didn't have to worry 'cos I stayed in contact. See, most cars are repossessed because people stop talking to their creditors be it because they are embarrassed, overwhelmed, whatever & when you stop talking to them, they don't know you aren't a flight risk - with THEIR property. Keep in contact. Our phone # changed 'cos I went with a cheaper company - I called my creditors with the new #. Communication makes ALL the difference in the world!!!

Plus there were times when I paid $100 & then in 4 days paid another $100 because I got a check we didn't expect or something & instead of blowing it, I paid people. See, when my husband was in the Navy, we had a neighbor who got behind on everything. OK, it happens. They went to one of those debt places that for a fee pay your bills from one bulk payment you give them. Then as far as the cable co & everyone was concerned, they were current. Then they got their tax refund. Instead of seeing if they could pay everything off & save that fee, they went shopping. Popcorn popper, darken the windows on the car + new car stereo. Then $$ was gone & I hear her say, "You know, if we only pay half to the cable company this month, we can get the icecream maker..." She got mad when I asked "Isn't that part of how you guys got into trouble in the first place?"
Posted by sgfsteelers on 2010-07-22:
Oh & btw, I paid off the car & have the title...

Thanks for your help Americredit!!
Posted by Weedwhacked on 2010-07-22:
Everyone talks about terms and conditions of loans. Think about yourselves losing your jobs, what would you do?
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Bad Customer Service
Posted by Thegame2567 on 01/30/2002
Americredit of Arlington Texas, has the worst customer service, the cant seem to keep up with payments and they penalize the customer, even when there is proof of delivery and copies of the cleared check have to be sent several times.
     
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Posted by Anonymous on 2002-03-01:
I work for Americredit, not the one in TX, but another one.....and it is not us that make the mistakes....it is the crapy customers, who have horrible credit and pay history who seem to forget that they would not have a vehicle if it were not for us. You all seems to think that the company owes you something when you cannot make your payments one time, when in turn you should be thanking Americredit and grow up.
Posted by Anonymous on 2002-05-11:
Well said, my advice to your problem...Payoff Americredit and get a loan with another company you are happier with....or can't you?
Posted by phlippen on 2007-07-15:
Other banks do not want to deal with you once your in with Americredit. So pack that in your "statement"! Americredit has a bad reputation and I plan on passing the word around.
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Hassle
Posted by Deadbydawnn on 09/15/2011
Finally on my last payment, and they took the online payment option off for me and any other payments. I work the same hours as they do, so I can't spend hours on the phone with them at work! They make it IMPOSSIBLE for you to pay off your car.
     
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Posted by oldisgood on 2011-09-15:
so they took off the online payment. What is wrong with sending in a check or money order? You know what the payment is, just send it in!!
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Lack of respect for customer
Posted by Josemi on 02/26/2011
ARLINGTON, TEXAS -- On 12/31/2009, I received a 1099C from Americredit. This company reported the loss to the IRS for $13,376.89. I reported this amount to the IRS as an income in 2009 income tax Since then, I understood that the debt is already cancelled.
On 2/24/2011, I called the Americredt customer services and the operator said that the is debt paid off. I requested to get my car tittle without lien. She transfererd me the Tittle Department I spoke to an Americredit agent (name omitted. HeI requested the car tittle and he claimed that I still owing to Americredit the amount of money indicated above. He denied my requested again and again. After long discussion over the phone. He was asking for $14,000 Dollars , later he reduced the amount to 10,000 dollars and finally he spoke to his supervisor and we agreed and settle the debt for $ 7,700 dollars. I rushed and sent the 7,700 through western Union in order to obtain my car tittle. on 2/24/2011.
On 2/26/2011 Americredt agent said over the phone that he will no send the tittle until the entire amount be paid off. Americredt is lying to , fooling me and demonstrating a severe lack respect for its customer. The customer services agents are Owfull, no regard for customercustomer and abusive
     
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Posted by leet60 on 2011-02-26:
Take care with this "offer" they made to you. By reducing the amount owed to $7700.00 they are then required by the IRS to issue you another 1099 for the amount forgiven.
Posted by saj80 on 2011-02-28:
Americredit took a loss of $13,000 on you, and you are accusing them of lack of respect?
Posted by momsey on 2011-02-28:
Do you have anything in writing about the offer that was agreed upon?
Posted by Anonymous on 2011-02-28:
I am lost and confused.

Americredit reported the $13+k as a loss but you reported it as income..and this was for a car loan?

On 2/24, you called Americredit and were told the debt was paid off, but then ended up settling for $7700?

And finally, since you're trying to get a lien free title for your vehicle, am I to assume that the car has remained in your possession this entire time?




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Americredit is shady
Posted by Cash28 on 02/05/2011
FORT WORTH, TEXAS -- Americredit is the most low ball finance company ever!! They waited until I was 56 payments into a 60 month loan with only 2,000 dollars left on my balance to re po my car. I went pick it up three days later, and paid it off but they won't remove the repo from my credit. I bought the car in 2001 and paid it off in full in 2007, but they won't remove the repo from my credit even though I own the title the car is mine and has been paid off for four years.
     
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Posted by tnchuck100 on 2011-02-05:
How many payments were you behind? If you were 3 payments behind they are very likely to repo the car. Since there WAS a repo it WILL stay on your credit report for 7 years. That's just the way it works.
Posted by Anonymous on 2011-02-05:
If you are late, you are late. Regardless of how much left you owe on the car. You're lucky they let you pay it off and keep the car, they could have kept the car and all your money and you would be SOL.
Posted by jktshff1 on 2011-02-05:
You can file a "comment" contesting the report or giving you side of the story on your credit report.
Posted by Obsfucation on 2011-02-05:
They had to chase you for the payments. You were so delinquent that they incurred the expense of repossessing the car. Now you think that they should pretend that none of that ever happened?
Posted by tnchuck100 on 2011-02-05:
Prince, just for the record when a car is repo'd the finance company sells it and you are entitled to any monies left after the payoff and repo fees. You may have to sue for it but you ARE entitled to it.
Posted by Obsfucation on 2011-02-05:
They rarely sell for more than the balance of the loan, and the borrower is still liable for any deficiency.
Posted by Anonymous on 2011-02-05:
oh okay. never had a repo so I dont really know all the legalities.
Posted by tnchuck100 on 2011-02-05:
Obs, that is also true.
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Be Careful of leasing with Americredit
Posted by Melissajaf on 01/17/2011
WILLIAMSVILLE, NEW YORK -- I leased a 2008 Kia Sorento from Americredit and up until the end of the lease I had no problems with the company. It was when I went to return it the fun began. They sent out a company called datascan to inspect the vehicle before I could take it back to the dealership. This company is horrible to deal with too but the real problem is Americredit. I received a statement via e-mail that they were not only expecting me to pay a $300n end of lease fee which I have no problem with but excessive wear and tear charges to the vehicle which is crazy!! I seriously dare anyone to return their vehicle without any scratches to the car. If you park in any parking lot ever you will eventually have scratches on the car. They want to charge me for an oil change which I still have like 1500 miles left to go before that is to occur. All bogus charges and normal wear and tear to the vehicle. The company just wants to punish consumers for not buying the car and take as much money as possible from them. I know that they are not going to do any of the "repairs" to the car because they told me the car is going to go to auction. Insane, I have called to complain to them and the BBB and even filed a complaint with Kia itself. Do not do business with this company ever they will take you for an arm and leg and whatever else they think they can get from you!!
     
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Posted by Skye on 2011-01-17:
Why did they want you to pay an extra $300.00? As for the wear and tear, you received the car scratch free, it's only fair you return it in the same condition you received it.

As for the oil change charge, what does your leasing agreement say about this?
Posted by melissajaf on 2011-01-17:
Lease agreement says car needs to be inspectable and in working order which it is. Try to go on any car lot and find a used car that doesn't have any scratches on it. Are you for real thinking that after 3 years of use that things out of your control causing scratches don't happen. If you buy a brand new car off the lot it has not been anywhere except the lot there for it should not have any scratched. You sound as crazy as Ameri-credit do you work for them?
Posted by madconsumer on 2011-01-17:
i have leased 4 vehicles. each time i have returned it, i had to clean it, and give it a good polishing. as far as wear and tear, make sure to get pictures before you turn iot in, and make sure to sign off on it when you give them the keys. i have heard some people say they did not sign off on the vehicle, and were charged huge fees like you.

very helpful.
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The Worst Ever
Posted by Knattyman on 12/10/2010
ARLINGTON, TEXAS -- I don't know where to start, Got this gas guzzler in 2006 and it has been a burden on my back every since. Fell behind in payments in May of last year and after making a payment arrangement for a late payment a get visitor at home with the vehicle already on the tow truck, now mind you I live in MD and they used a collection agent which was in PA( a lot of sense that makes)who in turn repossessed the truck and towed it over 100 miles from where I live, ok after much debate and borrowing I came up with the $2272 to get the vehicle back got a ride to pick it up and now a little over a year later after losing my job and sinking every penny I'm making at a part time job into keeping the truck and paying the $616 a month note, they call me and say no more deferments( which by the way added another year onto the note)the loan is not worth them keeping it open. By now I find out after paying $616 a month for over 4 yrs I still owe well over $20,000 on this gas monster!! Are you serious? So these SOB's arrange to pick the truck up on Thanksgiving Day!!! are you kidding me?? So I talked them into picking it up on the Saturday after the holiday and what do they do? use the sleaziest towing company in Baltimore City as a towing agent, and sneak in on Friday morning and drag the vehicle away with my tags still on the truck, and then wanna charge me $100 to get the tags off the truck!!! Not Happening!!! Dealing with these people has been a nightmare the last 4 yrs, there has to be something that we the consumer can do to protect ourselves. I know they are coming after me for the 23,480 that they say I owe now after repo. Any advice or help would be greatly appreciated I'm at with's end.
     
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Posted by Weedwhacked on 2010-12-10:
I also had to use Americredit for a car loan when my car broke down. Their rates are high but you need to remember that you agreed to their terms when you accepted their finance deal. They don't care about anything except getting paid.
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Why the Hassle
Posted by Mywish on 11/12/2010
ARLINGTON, TEXAS -- I called Americredit 2 weeks ago seeking a lien release. I purchased a car from a dealership, now out of business, which didn't get the release. I was told repeatedly by customer service that because it wasn't my account there was nothing they could do. That was not true. I called over 2 days and talked to 5 different people, including a "supervisor", and they all gave the same misinformation. It was only resolved after a state DMV employee called on my behalf and talked to a dealer services representative. Yes they did have lien releases for non-originators of car loans and I got the form with no problem.

Why the hassle? They had no interest in the car. The car was paid off by the dealership years previously, but customer service kept denying me the paperwork. I don't believe they didn't know how to resolve this issue. I thought I would have to take legal action. The frustration I went through was ridiculous and nonsensical. Why treat customers like that?

     
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Posted by JerryCee on 2010-11-12:
Get used to it. Just more of the dumbing down we encounter everywhere.
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Unfair Business Practices
Posted by MEHRDAD on 09/30/2010
LOS ANGELES, CALIFORNIA -- I lease a mbz s550 in 2008 and just returned the in August 2010. The lease was for 3 years at $1700 per months. About 45 days before maturity I received a letter encouraging me to buy the car. I immediately called them and told them that I would like to return the car and they told me that they will schedule an inspection and instructed me to return the car to the dealership where I boought the car. I did not hear back until a day before due the date to schedule an inspection which I accommodated them and the inspector told me everything is good and he even complimented the condition of the car. I had 4 brand new tires on the car and new registration for a whole year. A month later I received an invoice from americredit for $2850.99 For axcess waer and tear !!! I immediately called them and asked why I was not told at the inspction time and why I was not given an opportunity to address any problesm and she simply said is too late now.. They told me that they have tried to reach me 9 times and nobody had answered the phone !!!! I told her that our office is open 6 days a week from 8 am to 6 pm and 21 people work here. How could they claim this ? They are bunch of liers and theives. Be aware and do not do business with these people.... I have filed a complaint with mbz of north amrica and bbb and they are investigating this problem....
     
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Posted by Weedwhacked on 2010-09-30:
I think everyone should operate under the assumption that ANY company you deal with is going to try and rip you off. They're bleeding for money like you but have their "terms and conditions" to protect them at your expense.
Posted by saj80 on 2010-09-30:
Did you get a written copy of the inspection report, or take the word of the inspector? My guess is the latter, which, as a business person, you should know to get everything in writing. I would also ask the leasing company / bank for a copy of their inspection report, which will detail the damage they are claiming.
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