MARYVILLE, TENNESSEE -- Like the title says, I got to jump through a million hoops for nothing in the end. I am on a fixed income. I was getting a loan for $5000, which was specified by them on some papers I needed to have notarized(so they knew they were to loan me $5000 upfront, that was the understood loan amount). It wasn't specifically an Auto Loan, but a personal loan. Actually, the very first day I called and gave my income info and my granny's income, she told me "well the max will be $5000 to loan you." Being on a fixed income, I had to have a cosigner. My grandmother was cosigning. My mother is her Power of Attorney and does a lot of my granny's legal stuff. My granny doesn't get around so well.
So, after documents had been signed and notarized (the first document was "oops" the wrong one, their mistake, they couldn't accept that particular NOTARIZED document verifying a Power of Attorney for my cosigner), after many phone calls to get information, after she had said my loan is approved I just need a couple more things to bring like mine and my granny's proof of income (after I had already provided proof of income once which she said she must have shredded by mistake), we go to get the loan.
Shuffled into a little room in the back, we had to watch a video telling us "Thank you for your business" and the video basically tried to sell us loan insurance and disability insurance. Finally time to sign the papers. The loan officer said, "So, your loan is for $3500. Do you have a car picked out?" I said, "Yes, the car I have picked out costs $5000 even. 2000 Volvo S40. That's how much the loan was supposed to be for."
I was stumped. I didn't understand why all of a sudden there was some grand miscommunication. "Well, it's your income. It's too low." It was then discussed that maybe I could take this loan and maybe get another to make up the difference. Or do they have any cars for $3500? I got up and said thank you for your time.
She did inform us before we left that the loan would be a 21% interest loan for 48 months. The payment would be $120.00. I'm no math genius, but according to my calculator, that works out to about 64% interest. They must be using that "NEW" math! As far as I'm concerned, this is a form of "bait and switch". They tell you you're getting one thing and then try to sell you a substandard something else. So, if you want a lot of hassle for a lot of nothing in the end, go to Citifinancial!
Do not get a loan with Citi FinancialAuto! If for some unforeseen reason you become behind on your payments. Nobody thinks it will happen but it does/can. My recent experience with them was horrible. I became 3 months behind on my car payment due to unforeseen circumstances. The economy is going down the drain and I get paid on commission so it doesn't help me at all. I set up 2 postdated phone payments with them to come out within the month of June one the 19th and one the 30th which the representative that I spoke with said would cure my account or catch it until my July payment. Which I thought would be great.
I had to go without lunch unless it was slow enough for me to come home, I had to use my change in my car to get water at gas stations out of the fountain so I wouldn't dehydrate I had to borrow money from family for gas to go to work which I hate borrowing money for pride purposes If my girlfriend wanted to do anything she had to pay for me which is OK when I can pay my own way or pay for her to do something else but not when I can't again a pride thing It was horrible but I thought it was worth it until today July 6 I get a phone call looked at my caller id and it said Citi and my first thoughts what could they want.
They told me my account was 22 days past due. I'm said that can't be I just set up arrangements and I see on my online bank statement where they both came out no problem. Well apparently the first representative lied to me or told me false information and to cure an account just means collection calls will stop until the postdated check comes out. Which I think about it and I say you all have a poor choice of words that doesn't cure anything that just delays the inevitable I mean if you cut out half a cancer tumor and leave the rest the person isn't cured of cancer so they wouldn't say they was cured.
My advice is do not believe any of them they will say whatever they want just to get you to make a payment so don't believe their false promises get it in writing. Which is a horrible thing to say about a company as big as Citi. P.S. they have called my grandmother giving her information about my account and asking for a payment. My grandmother isn't on the loan she isn't responsible for the loan and they shouldn't give out my business like that.
COLUMBUS, OHIO -- I was 19 years old when I bought a truck from Jones Junction in Maryland (another place I should write a bad review about). I will be 22 next month. The truck's sticker price was about $30,000. My $200 Macy's store credit card might as well have counted for nothing on my credit report, compared to the $30,000 I "needed". That's when I asked my mom for some help. She put the loan in her name, and I co-signed. My monthly payment is $661.00.
I (not my mother) have paid every payment on time (if not 2 weeks early), sometimes sending in $700.00 (does this even show on my credit report?). I am 2 payments (months) ahead - Only about $358.00 of the $661.00 goes toward the truck - the rest is toward pure interest! By the way this loan in for 6 years - which means almost $20,000 in interest they will have collected from me when this is paid off! And now I have myself a truck that, when all is said and done, was about $50,000.
Back on track. I called CitiFinancial Auto to ask them if there was anything I could do to get a lower monthly payment. The first **, told me that CitiFinancial Auto does not refinance their own auto loans - gave me no other suggestions or options. So I emailed them. They said call us. The second **, went a step further, as to look at my account, saw I was 2 months ahead and not struggling by any means - therefore said they do not help anybody who doesn't need help although I have "only" 3 years left of payments.
My (near) future is sure to bring in more expenses, and fast - wedding, home buying, children, etc. It disgust me that, we taxpayers just bailed these guys out, and they won't work with you, period. Not even a little! I'd be kind of happy if they knocked 60 dollars off the payment. They are by far the most awful financial people I have ever dealt with. STEER CLEAR OF CITIFINANCIAL AUTO!
OHIO -- I have had an auto loan with this company for five years. I have always had the loan on an automatic deduction from my checking account. The final payment was due December 2008. I was out of town for the holiday and returned to find three messages and two letters stating my account was past due? I immediately called to find out what the problem was and why the final payment wasn't taken out of the account as it has been the past five years. I was told if I read my agreement I would have found out they do not take out the final payment?
I asked the agent what would provoke such a policy and she went on about deferred payments that could cause a final payment to be $1000? I asked if this was a scam in order to access late fees and additional fees from people in an effort to pay off the debt? She did not even comment. She went on to explain they could take the payment over the phone if I had a debit card. I asked what the fee was to do so and she said $14.95. I told her no way. I would mail in the payment since it would not be more than 30 days past due. I asked her for the pay-off amount and was given an amount different from the original amount she was going to bill my debit card.
I was told that was the amount for today. Since I was paying by mail it would be more???? I told her I would mail out the payment first thing in the morning and requested that I be taken off of their mailing list and their calling list that I did not want any future contact with their company. She told me she didn't handle such and gave me a number to call. I was told not to call before making the payment or they would send my account back to collections. I thanked her and hung up. I hope this is the end to this madness. I advise those of you seeking a loan to avoid CitiFinancial at any cost!!
RALEIGH -- I have been reading some of the comments on this site, and I agree 100% that CitiFinancial is a bunch of crooks, thieves and all around leeches on society. They receive a Government Bailout that WE will have to pay for... only to turn around and stick it to everyone feeling the pinch of the battered and beat up economy. I say DO SOMETHING!!! Contact the Federal Trade Commission at http://www.ftc.gov/. They have a complaint section. I filed my complaint and hopefully you will too. CitiFinancial needs a good kick in the pants regarding their unsavory collection practices.
Here is some information regarding your rights... and what to do if those rights are violated. What types of debt collection practices are prohibited? Harassment. Debt collectors may not harass, oppress, or abuse you or any third parties they contact. For example, debt collectors may not: Use threats of violence or harm; publish a list of consumers who refuse to pay their debts (except to a credit bureau); Use obscene or profane language, or repeatedly use the telephone to annoy someone; False statements. Debt collectors may not use any false or misleading statements when collecting a debt.
For example, debt collectors may not: Falsely imply that they are attorneys or government representatives; Falsely imply that you have committed a crime; Falsely represent that they operate or work for a credit bureau; Misrepresent the amount of your debt; Indicate that papers being sent to you are legal forms when they are not; or Indicate that papers being sent to you are not legal forms when they are.
Debt collectors also may not state that: You will be arrested if you do not pay your debt; They will seize, garnish, attach, or sell your property or wages, unless the collection agency or creditor intends to do so, and it is legal to do so; or actions, such as a lawsuit, will be taken against you, when such action legally may not be taken, or when they do not intend to take such action.
Debt collectors may not:Give false credit information about you to anyone, including a credit bureau; send you anything that looks like an official document from a court or government agency when it is not; or use a false name. Unfair practices. Debt collectors may not engage in unfair practices when they try to collect a debt. For example, collectors may not: Collect any amount greater than your debt, unless your state law permits such a charge; deposit a post-dated check prematurely; use deception to make you accept collect calls or pay for telegrams; take or threaten to take your property unless this can be done legally; or contact you by postcard.
What control do you have over payment of debts? If you owe more than one debt, any payment you make must be applied to the debt you indicate. A debt collector may not apply a payment to any debt you believe you do not owe. What can you do if you believe a debt collector violated the law? You have the right to sue a collector in a state or federal court within one year from the date the law was violated. If you win, you may recover money for the damages you suffered plus an additional amount up to $1,000. Court costs and attorney's fees also can be recovered.
A group of people also may sue a debt collector and recover money for damages up to $500,000, or one percent of the collector's net worth, whichever is less. Where can you report a debt collector for an alleged violation? Report any problems you have with a debt collector to your state Attorney General's office and the Federal Trade Commission. Many states have their own debt collection laws, and your Attorney General's office can help you determine your rights.
The FTC works for the consumer to prevent fraudulent, deceptive, and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters consumer complaints into the Consumer Sentinel Network, a secure online database and investigative tool used by hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.
CALIFORNIA -- I purchased a vehicle with financing from a lender who eventually sold my loan to Citifinancial Auto. The original loan was for a 5-year period rather than the typical 3-year period. To keep my finances on track, I use Direct Debit services whenever possible and I made arrangements to have my auto loan paid through Direct Debit. During this time, I moved and provided Citifinancial with my current address, but they continued to send any and all communications to my former address. My forwarding order expired after the first year and I again provided them with my correct address.
In April, I left work and found that my car was not in the parking lot. I called the police and was told that my car had been repossessed. I immediately called Citifinancial to find that "no one could take my call," so I emailed them. Four phone calls, 2 faxes, and 3 emails later, I had still received absolutely no information from Citifinancial Auto. Finally, the towing company called and asked me to come and get my belongings. Because I was so upset, the employee called Citifinancial Auto (they actually answered her call!) and when I arrived to get my things, she told me that they had repossessed the car due to non-payment.
I received no notice that they had stopped collecting the payments via Direct Debit nor did I give them my permission or agree to that arrangement. No other company with whom I have made Direct Debit arrangements has terminated the arrangement, so I know this is unusual. I don't think it is a coincidence that all of this happened when I reached the 3-year mark for my loan. Additionally, Citifinancial tried to file a claim for damages through my auto insurance company, saying that the entire front end of the car was destroyed. When I visited the tow yard 3 days after the repossession, the car was completely intact.
They still have not filed any paperwork with the DMV to claim ownership of the car and I continue to receive notices from the DMV regarding overdue registration. So... the $11,000+ that I paid toward owning the vehicle is completely wasted, the repossession is on my credit record, I spent nearly $400 on a rental car, and I had to come up with cash to purchase a used vehicle because I live in an area with next to no public transportation. I believe that Citifinancial Auto deliberately terminated our Direct Debit arrangement without notifying me so that they would not have to honor the nontraditional 5-year loan.
How are they allowed to get away with this and why don't consumers have an option to pursue dishonest businesses without spending thousands of dollars on an attorney? The BBB is great, but there is not a thing they can do if the business refuses to negotiate with them, and in the case of most large corporations, that is exactly what they do. Large businesses know individual consumers can't afford to spend $5,000-20,000 to pursue something like this, so they simply refuse to play ball with the BBB. Whatever you do, don't do business with Citifinancial Auto!
Citifinancial is full of **, they overcharge you with interest and when you call them back they act like they can't find you in their system, but they don't have a problem taking your money. Don't ever get any type of loan from them. I would rather get a payday loan before I get a loan from them. I thank GOD I no longer have to deal with them ever again. Worst nightmare.
I have been an account holder with Sears & Roebuck for 15+ years. I carried no balance on my credit line, never made a late payment. Recently went to Sears to purchase a freezer, and found out that my Sears Card had been cancelled. I received no notification and drove over 120 miles to a Sears store in West Virginia to make this purchase. I did not know why my account had been closed, but tried to re-open it and was declined by Citibank (South Dakota). I want to express my dissatisfaction for the poor customer service I have received from being a loyal customer for 15+ years.
I was informed I need to make a couple of small purchases a year to keep my account status open by a Sears employee. I shouldn't have to make a purchase just to keep my account open as I've been a customer for a very long time and have spent a lot of my money at this company throughout the years. I think the actions by Citibank are unfair and unjust. I want others to know that this is happening and be aware. I will no longer be a customer of Sears & Roebuck.
First off I'll say, I signed the loan papers and I am trying my best to keep up my obligation. That said, Citifinancial granted me a loan for 18% on a 38000 dollar car. I was young, naive, and really wanted the car. I am paying 900 month and barely 100 going towards the principal. I am now flip flop on the car by 15000 dollars. Can't trade it off or sell it. If my payment is even 1 day late, they are calling 20 times a day threatening if I don't make the payment that day then they are coming to get it. I have had the car 2 1/2 yrs and the principal has barely budged. That's over 20000 in payments. I'm fed up.
Finally told them if they couldn't lower the payment then come get it. I'll file bankruptcy on the deficient balance. I made a mistake signing the loan and not thinking, but I think at some point Citifinacial's lending practices should be watched. Also, auto dealers shouldn't be able to sell cars at ridiculous rates.