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25 reviews & complaints.

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Hassle
Posted by on
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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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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Americredit is shady
Posted by on
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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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.
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.
jktshff1 on 2011-02-05:
You can file a "comment" contesting the report or giving you side of the story on your credit report.
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?
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.
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.
Anonymous on 2011-02-05:
oh okay. never had a repo so I don't really know all the legalities.
tnchuck100 on 2011-02-05:
Obs, that is also true.
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Why the Hassle
Posted by on
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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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 on
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 thieves. 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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Weedwhacked on 2010-09-30:
I think everyone should operate under the assumption that ANY company you deal with is going to try to rip you off. They're bleeding for money like you but have their "terms and conditions" to protect them at your expense.
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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AmeriCrooks
Posted by on
TEXAS -- I too was told by the dealership that after 6 months I could refinance the ridiculously high 18% interest rate. Well that didn't happen even after paying on time for a year. These dealerships lie to you & Americredit rapes you with the interest! My loan was for $20,000 & change, in 2 years I've paid them over $13,000 & they still want $18,000 from me. I have someone willing to pay the loan off for me because I'm out of work for the last 9 months & can no longer afford it but Americredit was not willing to work out a settlement. They want there $18,000 & that's it! All they want to do is continue to charge me late fees because I'm having trouble paying on time now without a job & they couldn't care less. I can't afford the payments much less the late fees they're charging. They couldn't care less & where not willing to work something out. $20,000 loan, paid over $13,000 in a little over 2 years & they still want $18,000 for the pay off, do the math. They are thieves, crooks & that's putting it nicely. Stay away from this greedy company. Do not get a loan with them!
     
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Anonymous on 2010-03-22:
I think the refinancing option is still dependent on your current credit score. Go to a local bank or credit union to see if they can refinance the loan. It's worth a shot.
memoryx57 on 2010-03-22:
I'm going to go out on a limb here and assume that you're young and have never applied for a car loan before. This is based on the fact that you have a car loan at 18% interest rate. Banks and loan companies are going to get their interest on the front end of the loan and the principle last. This is why you will still owe a huge balance after paying for a couple of years. This is basically a guarantee that they'll get their money back. Not sure what you can do at this point other than having someone pay it off for you and then you repaying them. In the future when a dealer tells you that you can refinance a loan later on...you need to run as fast as you can. First off, they have no idea what you can and can't do later on. So yes, they are less than truthful. They're trying to sell a car and don't give a fat rats behind about you. Lastly, NEVER sign anything unless you have a complete understanding of what you're signing and DO NOT take somebody's word at face value. Do your own research and ask questions.
Good luck getting a handle on this. I know it's stressful.
Anonymous on 2010-03-22:
Well, in defense of the dealer, they do not know your credit situation. They can only tell you what applies to good credit. I can see where they would not mention 'only if your credit is good' to a possible buyer. One it can be taken as insulting, and two, they are not credit extenders.

Now, you have a high interest rate which says that you either have no credit, little credit or bad credit. Refinancing still depends on your credit score. If you are missing or paying late, then this shows. Perhaps your car was a bit out of your budget to start with.

CUFlipSide on 2010-03-22:
The other missing piece of the story is, how long was the car financed for? If the OP took out a 6 or 7 year loan at 18%, then it wouldn't surprise me a bit that $18k is still owed on the loan. Why would they work out a settlement? They want what OP signed for. A voluntary repossession would probably be the best way out of this mess.
kayavee on 2010-03-23:
I had 3 car loans before this one & always paid on time. I even paid 2 of them off before the loan was up. The one before this one was a lease & I was paying 2% interest. Don't understand why I'm paying 18% now. This happened when the Gov was bailing out these big companies & banks & when I went to refinance I was told unless I had PERFECT credit they wherent giving out loans.
granny50 on 2010-10-24:
exact same deal happened to me, after paying 636.00 a month for 3 years on a 28000.00 laon, the balance owed is still 25000.00 due to all their added fees and interest. The original loan was with Huntington Bank and Americredit somehow took it over, needless to say it's a rip-off. My credit union offered to pay off the loan according to high end of blue book value, Americredit refused to even consider working with me on this debt. I had Americredit repo the vehicle and now wait to see what happens next. Times are hard in Northern Michigan as I am sure they are all over the U.S. I wasn't looking for a free ride, but I know when I'm being screwed over and Americredit is very good at doing that. The dealership where I purchased this Kia from is no better and numerous class action suits are in place for both.
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ACH Fraudulent-Unauthorized Transactions
Posted by on
I made previous arrangements on my payments due to reduced work hours. I made check by phone. I called in prior to the date the check was to be presented for payment and requested that arrangement be deleted and a new arrangement made. My banking account was charged, not for one payment, but for THREE payments all at once. Needless to say, I could not get a resolve from Americredit, as I was told to contact my bank to request an ACH Reversal, which they have the option to dispute or reverse the funds back to my account.

I'm really considering just NOT paying the freaking payment and selling the vehicle to someone who will take it to MExico....GOOD LUCK FINDING IT AMERICREDIT and with getting anymore of my $$$$!!! Thanks for the FREE CAR!!!

You turn law-abiding citizens, who fall upon hard times, into CRIMINALS, just like you.......for survival sake!!!!

Again, THANKS FOR THE CAR!!!
     
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Anonymous on 2009-10-20:
Instead of doing all that, you could just simply do what they ask and get in contact with your bank to dispute the charges. It's easy, simple, and takes no time at all.
I understand your beef with Americredit. I'd be upset, as well, especially since they can't or won't do anything on their end. But, just take a deep breath, go to your branch, and file a dispute.
Anonymous on 2009-10-20:
BKK, his bank isn't likely to reverse any charges. He authorized them when he gave his account information to the creditor. Banks would get into the middle of a 'he said...she said' situation. They will most likely instruct him to get his money back from the crditor, and that's not likely to happen either. What he can do, is puton a stop to prevent any future debits, and even that assumes that the creditor won't just submit them with a different name to get them through.
Anonymous on 2009-10-20:
It was just a thought, Ken.
Doesn't hurt to try.
But, sounds like the OP is between a rock and a hard place.

Instead of doing things over the phone, the OP can also visit the website (www.americredit.com) and try to fix things there with payments.

I also make my car payments with Americredit. Not that it has any bearing on the situation or anything.
Might be a long shot since the damage is already done.
wanda on 2013-03-28:
I am on disibilty. They are raping me with 129% interest.
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We are basically stuck with it for now
Posted by on
I so agree with some of the other reviews, I took this loan and agreed to everything, but the finance manager was sure that we would be able to refinance in six months or so-of course they wanted to sell the car, but I have purchased several cars from them and refinancing has been available, then everything fell apart in the country! So we are stuck with this outrageous interest rate and we pay it-what I don't like is Americredit starts calling my house BEFORE the payment is even due, and the calls are incessant, I have NEVER made a payment past the grace period and only twice past the actual due date, I don't need them calling my house six times a day to tell me I have a car payment due in a few days, I drive the car, I am aware of it's existence and they also send me emails to remind me (those I don't mind, I can ignore them.) My husband works nights and does not need to be awakened for stupid reasons, so we will continue to make the payments and hope for things to turn around and qualify for a refi!!!
     
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Anonymous on 2009-06-10:
The "grace period" is simply the amount of time you have after the due date before a late fee is accessed. Any payment made past the due date and within the "grace period" is still late.

hate CVS on 2009-06-10:
I know in Texas if collection calls you before 7AM or after 9PM, it is illegal. And calling you several times in one day is harassment, especially if you are paying them each month by the date you and AE agreed to.Check with your state's Attorney General's office (on-line) under Consumer complaints and tell them you want to file a complaint. They'll walk you through what you need sign (a few papers and some documenation is all, probably). I'm also not sure I read this right, but if Americredit is holding your car title you can't sell it (they still own title) until you bring your financing current (maybe) or pay it off. They sound like real a-- H---- and probably won't play nice, but check our your state's consumer protection info to be armed with info before you even talk to those lying fools.
canelia on 2009-06-10:
Just to clarify-they are calling between accepted hours for Florida-8am and 9pm, BUT they do start calling before the actual due date, I understand and accept the "grace" period, that is just when there has not been a "late" fee charged, it is still late. But no matter what the calls are always several, 9 or 10 a day starting on the 5th of the month, the actual DUE DATE is the 8th, and I am not talking about a "grace period."

And I hav to say, I am really sorry for anyone in Texas, 7am!! That is horrible, WAY too early, I think 8am is bad!
Mrs.Stackhouse on 2009-10-07:
Hmm.. I've never been called before my due date. Are you sure ur not overexagerating? And I've asked, there is no grace period interest accrues daily after the due date, but there is a time frame for no late fee.. I've had to pay late a couple of times, but you can't expect for them to read your mind. It took like 5 minutes out of my month to stop calls. Good credit lenders repo cars 30 DAYS late, this company will work with you but you need to take the initiative. After all you aGREED TO THE LOAN
old fart on 2009-10-07:
This makes a VERY good argument for shopping for the best credit deal you can find..
I was down this road many decades ago and it still galls me when I think of the incessant calls...
is there anyone you can contact to take over the loan with better terms or due dates..?
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This Company Should Be Sued For Extortion!
Posted by on
LA VERNE, CALIFORNIA -- My mother had an auto loan with Americredit and deferred 3 payments. She paid those back and was getting ready to make her final payment for $300 and was shocked when the bill was almost $4000. They said she owed interest for the deferred payments, even though they didn't mention this when she asked for the deferment. They told her to check her contract. Well all the contract said was that she had the option to defer payments, not that she would be charged any interest at all, let alone what % interest. The bill was due 3 days ago. In that time they also charged an additional 300$ for a late fee and interest accrued for three days! This is extortion!

Do not deal with these crooks! They also make it difficult to make a complaint because they just transfer you to voicemail. Beware-do not deal with this company! They will screw you!
     
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Soaring Consumer on 2009-03-20:
If the contract does not have a provision to charge interest for a deferred payment, they have no right to do that out of thin air.

Contact the California Department of Consumer Affairs.
Anonymous on 2009-03-20:
What SC? You mean she shouldn't sue?
Anonymous on 2009-03-20:
Deferring a payment doesn't mean it's free... you still accrue interest on what you owe until you pay it off. All you do when you defer is skip a payment (or three) and add them to the end of the loan. The interest clock ticks the whole time...as it should. The borrower still has use of the money, they still have to pay interest on it.
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No Deferments On Auto Loan
Posted by on
ARLINGTON, TEXAS -- I am current on my auto loan. Have been with the company for many vehicles that I have owned. Their monthly statements indicate they will help you to get back on track if needed, will change payment dates and or deferments to call a specific phone number. I told them that I had cancer, going through chemo, radiation, surgery and incurred lots of medical bills and a judgment was going to be filed if I didn't come up with some extra money to keep this out of court. I still have cancer, and medical bills will continue. I asked them for a deferment for the 3/11/09 payment and they refused. I can't believe this company is advertising they will help you keep your car.

Both of us are disabled by SSA and only get paid once a month. We have no extra money. What can we do about this Americredit situation?
     
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Anonymous on 2009-03-05:
I'm sorry that you are in such a sad state. If they were to give you a deferral, what will be different next month? I suspect that if giving you a month's breathing space would have gotten you out of a jam, they might have been more helpful. From your post, it sounds like things won't be any better in the near future.

I hope you feel better.
Anonymous on 2009-03-05:
Lenders are universally treating everyone like deadbeats and used toilet paper. When our federal scrip achieves toilet paper value, it will be raining bankers on Wall Street (splat). Maybe a note from your doctor would help show you are not trying to scam them? Probably wouldn't help...they only want money.
RN2B2004 on 2009-07-17:
I feel your pain. We were in a similar situation with never ending medical bills and the dooming Americredit payment. I would suggest calling the hospital/clinics and asking to apply for financial aid for your medical bills. We had one bill completely wiped to $0 for us. I know it sounds stupid but its worth a shot, letting them know your situation they are more willing to work with you than AmeriCredit ever will be. Good luck!
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Americredit The Worst Of The Worst
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ARLINGTON, TEXAS -- I had a auto loan with Americredit my finance balance was about 18100 I made 7 payments of 374.00 plus the ridiculous Western Union fee for 7 months and after 7 months the payoff balance was $17992 they credited just about 200 dollars out of $2618 at 13% interest rate I spoke to a supervisor and she said that they penalize me with 3% to 4% extra interest because a deal with the auto dealership that I still don't know why.

They are out there to hurt customers left and right with their predatory lending. Their customer service are trained to get you not to help you. Every time you pay you have to pay a Western Union fee by phone by direct payment or on line you cannot escape from the Western Union fee if they have to process something you have to pay. Let me make this clear that I never pay late. I just fell in to the trap between the dealership and Americredit.

Thank god that I refinance at 6% with my credit union. This was a nightmare. Just beware and stay away from Americredit they will get you.
     
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woodsk1 on 2008-10-29:
You could avoid the western Union fee by paying on time..... The rate would chnage if you are late.
spiderman2 on 2008-10-29:
If you qualified for a 6% loan from your credit union why did you even go with Americredit in the first place? Your failure to do your homework and just taking what the dealership offers if never a good idea.
clutzycook on 2008-10-29:
Pretty much all financing companies add a "convenience fee" when you're making a payment over the phone and sometimes even on their website. It's annoying, but if it saves you having to make a late fee (which usually costs more), you have to do what you have to do. But, do what woodsk says and just pay them on time. Then you can mail it and it won't cost much more than the stamp.
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