Wells Fargo & Company Auto Loans

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Wells Fargo Dealer Services- Rude, Heartless, And Harassing!
Posted by on
SANTA ANA, CALIFORNIA -- I bought a car for my daughter last April. Wachovia was the original loan company, but Wells Fargo ended up taking over the loan and since then we have had nothing but trouble.

My daughter lost her job and started collecting unemployment which was less than her normal pay. She fell behind a bit on her car payments, and the harassment started. As of right now, she is only a month past due, with a payment in the mail as we speak. The collections department over at Wells Fargo has done nothing but call me at home and at work, harassing me about the payments, even though my daughter made it clean not to call me at work.

My daughter sends what she can, but they are not understanding of the situation and the economy. They demand they get their full payment within the week or "further actions will be taken". They have also told us our less than minimum payments are "unacceptable", yet they have no problem cashing them...

We are doing what we can to get this caught up, with no help from them whatsoever. We have asked for a deferment on the bill - DENIED. We asked if they could refinance the vehicle to help us lower our payments - DENIED. Of course they wouldn't want to lose the 10.25% rate they have on us!

I have never dealt with a loan company that is this cold, rude, and unwilling to help. I definitely give them an F for customer service. I strongly advise anyone in the loan market to AVOID dealing with Wells Fargo.
     
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Venice09 on 2010-07-15:
If the loan is in your name that's probably why they are calling you. It's unfortunate that they are not willing to work with you, but they really are not obligated to. You said that you bought the car for your daughter, so I'm wondering why she is making the payments. Maybe you could help her until she finds another job.
leet60 on 2010-07-15:
Be careful here. Most loans have very strict terms and if you fall outside the contractual agreement she may wake up and find the car repossessed. If they repossess they will auction it for a fraction of the value and then try to come after you for the remainder (known as a "deficiency).
Starlord on 2010-07-15:
Venice and Leet are absolutely correct. This is an attitude we see so often here, and it amazes me. Where does it say that banks, finance companies and such have to be 'Big-Hearted Bennies with Green Gloves,' and treat you like royalty when you fall behind in payments. As the crew on Operation Repo state, "It ain't no joke if you don't pay that note." They are in business to make money, not to be philanthropists to those who cannot or will not meet their obligations.
momsey on 2010-07-15:
She's "only" one month behind. One month or six months behind, it doesn't matter, you're not holding up your end of the contract. As Venice said, they could be nice and help you out, but they're not obligated to be nice. If they were nice to everyone, they'd be out of business.

Yes, things happen, the economy's bad, but that doesn't negate your responsibilities. Maybe she needs to give up the car and buy something cheaper.
Anonymous on 2010-07-15:
Why in the world would Wells Fargo not work with the OP? It's just silly to be a jerk to a customer willing to pay. Anybody with a lick of business sense knows it's far better to have a customer paying regularly albeit a month behind than to repossess the vehicle.

The short sightedness of these big banks is just astonishing. No wonder they damn near collapse the US economy. They're just that boneheaded.

Good review!
Venice09 on 2010-07-15:
"If they were nice to everyone, they'd be out of business."

That's the problem today. There was a time when you could explain your situation to a bank and they might be willing to help you. But so many people are experiencing hardship now that banks can't possibly accommodate them all. Sometimes people just have to realize that they can no longer afford their purchase and downgrade to suit their income. It's hard to face, I know. But you can't expect lenders to take on the financial hardships of all their customers.
hiway211 on 2010-11-13:
I agree that the customer has terms that they promised to abide by. Unfortunately for them, the lender seems to think that by using the tactics they are using, they are going to squeeze blood from a turnip. I have absolutely no problem with a lender calling a customer to advise them they are behind but they need to get a clue.
I just received a call from Wells Fargo Dealer Services. My wife got a call from them at her job as well. They call wanting a payment then refuse to provide the information on how to pay.

I have never seen a more disrespectful organization in my life. They lack any concept of customer service. I wonder how many payments they did not get due to their behavior. Wonder how many more they may get if they used a bit more common sense instead of their heavy handed tactics. The rep I was speaking to was already threatening repossession on a one time late less than 30 days. It is real easy to be an ass over the phone. I wonder how tough he would be if he was the one who was actually going to show up at my door to do the repossession.

I have decided to take what ever lawful action I can to expose this company as the idiots they are. While I know that the FTC and State AG are paper tigers, I will paper the company with as many complaints as I can.
liz on 2011-06-13:
I have had a car loan with this company since feb 2005 and never was I late or defaulted on a payment until recently. They actually worked with me, gave me a deferment and were nice enough to only charge me the late fee's I accumalated on the late payment. They are a great bank to deal with and they never "harassed" me! I spoke with a rep when she called to see why I was late and settled everything with her. I totally appreciate they're help and will referr people to them. =)
angry on 2012-05-17:
Well good for you Liz. I tried to be a good customer and call them to explain my situation instead of just letting them cal me over and over. I have never had a problem paying my car loan until recently. I have had it for the past two years. They denied me any help what so ever. The funny part is that I moved and now I am making less money than I was before and that is why I need the deferment until I move back next month. I am having major financial hardships and I called them because I just need a little help. Well guess what I have no options. The guy said my only options are pretty much to try to find money. Yeah that is so easy and that is exactly why I called him for him to tell me to find money somewhere. Thanks wells fargo! Youre the best.
michael on 2012-08-07:
terrible company I've had my loan for almost 5 years have always been a liitle late here and their never had a problem but now that my car is almost paid off now their trying to repo my car!!!!this company is ghetto.....
MeinOregon on 2013-01-30:
Wells Fargo is the most rude bank I have ever dealt with. Things come up, one month behind is no big deal, add it to the fucking loan an extra month longer. There is no reason to be rude and smart assy when your trying to make ends meet just to get food on the table. I hope Wells Fargo goes under, they are ruthless fuckers.
Pissed on 2013-08-07:
Wells Fargo Car Dealership is the worst company to deal with. I have never missed a month payment in the 5 years that I have been doing business with them. A few minutes ago their rude ...unprofessional representative called to ask me what I am doing with my car. At first I thought that it was a prank call. However, she then proceeded to say that she is calling for Wells Fargo and that she is collections. I was totally shock because today is only 8/6 and I have never missed a payment. She then proceeded to say that Wells Fargo do not have grace periods. THEY HAVE TO BE CRAZY!! THAT IS TOTAL HARASSMENT!!! How can you threaten to repo a customer car who has never missed a payment ? And then justify their actions by saying it is 5 days late? I will advise everyone to never use this unprofessional thug - like company!
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Beware Unethical Insurance Practices
Posted by on
SANTA ANA, CALIFORNIA -- The following letter was sent to Wells Fargo after they have been harassing me for 7 mos. because of their mistake:


Wells Fargo Dealer Services
PO Box 25341
Santa Ana, CA 92799-5341
Office of the President

Re: Account XXXXXXXXXXXX

On June 12, 2010, I had the unfortunate experience to deal with your Collections Dept. in regards to the SUBJECT account listed above.

Why? Because in November, 2009, the vehicle which we purchased through (name deleted) dealership( a large, reputable auto dealership) with your assistance in November, 2008, was totaled while parked in front of our home. Once it was determined that the vehicle was a total loss, Wachovia (now Wells Fargo) was given a portion of what was owed on the car by the counterparty’s insurance company. We still owed over $3,000.00 which we have been paying monthly.

However, because Wachovia/Wells Fargo did not (and has not) corrected this within their records, we were charged for insurance (which has now been turned over to your collections dept.).

I have communicated in writing and by telephone more times than I want to admit, and spoke with numerous people last week. After over twenty minutes on the phone last week – being blind transferred and having to explain over and over again (as I have for months), I admittedly became upset and advised the final person I spoke with to not call me until they got it together. (This is not my error). Today, your collections dept. called me and again, I am sick of this, so I didn’t have a very polite disposition – esp. when the representative told me this was my account – my responsibility and I owed over $2,000.00 on the car. (She mentioned I was in arrears over $500.). I demanded to speak with her supervisor, and I regret it. This man was a useless bully who told me I could call him back on Monday, or deal with it on my own – then, told me “I told you seven times”…this “prize” you have working for you was the most rude, belligerent, ridiculous excuse for an employee, and I would be ashamed to work for him or with him. (name deleted)was his name. I would like to file a formal complaint against this man, and insist that the harassment of my family ceases immediately. My conversation with him left me tearful – I cannot believe based on an error you made – you would allow your employees to speak with me in such a manner. This is not my fault – this is yours. WFDS is the organization that is charging me for insurance erroneously, and I plead that this is corrected. My family has worked hard to maintain a decent credit score after years of hardship, and for an error on your part to affect this is criminal.



I have already contacted the BBB, The NYS Insurance Dept., my local senator, will not speak with your collections dept. again, for fear of being harassed further, am copying and the Auto dealership (so they know what their customers are in for).

Your website was not functioning at the time of this letter, and therefore, I drafted it in hard copy.

I trust, in good faith that this will be corrected.

Thank you,




(Name deleted)

CC: John A. DeFrancisco, NY State Senator
Fuccillo Hyundai of Syracuse
     
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MDSasquatch on 2010-06-12:
another great example of the value of Gap Insurance. I financed $31,000 over 5 years through GMAC, gap insurance was $300 for the duration of the loan. Everyone financing a car needs to ask about this option.
clutzycook on 2010-06-12:
I've never heard of gap insurance. I assume it's for situations such as these when your car is a total loss and the settlement is less than the loan balance?
MDSasquatch on 2010-06-14:
Gap Insurance in a nutshell. You buy a new car for $30,000; the minute you finish signing the papers, it is worth $22,000. If the car is totaled, your insurance will pay $22,000 and you are left paying the remaining $8000 on a car that is destroyed. Gap Insurance will pay the difference between what you owe and what the car is actually worth.

I strongly urge anyone that is upside down on their car to call their insurance agent and add Gap Insurance.
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A Chance To Stop Them
Posted by on
Please, this is a chance to make a real difference with regard to the way Wells Fargo Auto Finance does business. I spoke with a Wells Fargo Rep this morning, and tried to make arrangements to bring my account current (I am behind a payment, like millions of Americans, I had lost my job, and only just recently got a new one). I informed her that I could make the current past due payment on Monday, and she flatly refused to accept any payment.

After having spoken to 3 different reps at the company, the best they would do is say that they won't accept the past due payment in full on Monday, and wished me good luck (I do have audio recording of this conversation).

Following the conversation, I contacted the Consumer Affairs reporter at one of the local network affiliates here in Columbus Ohio, explained the situation, and played him the audio from the call. After explaining to him what had transpired, and pointing out that Wells Fargo Bank had already received $25, 000, 000, 000.00 (that is $25 Billion) in bailout money from taxpayers, and explaining the lending practices, interest rates, etc. He has expressed a strong interest in doing a story on them.

I will be meeting with him next Wednesday to discuss what they are doing, and he thinks that they can be brought under fire for what they are doing. He feels that an expose on their practices can have a serious impact on what they are doing, and that the story of what they are doing does have a potential for full network coverage, if enough examples can be provided for what they are doing, it would be a great help.

Even if this doesn't stop them, in our local market, which is very substantial, it will put pressure on dealerships to stop using Wells Fargo Auto Finance, as well as other predatory lenders, as a source of financing, at least in the local market in Central Ohio. This is a large market, and if the only way to hit a company like this is in the pocket, this should do it.

I am asking for your stories regarding Wells Fargo Auto Finance in particular since they are tied with 2 other banks that have received more Federal Tax Dollars for "Bailout" than anyone else, and are engaging in the exact same practices that have helped lead to the current financial problems here in America.

This is a real chance to change them. Please, send your stories to jeffereywatson@yahoo.com

I will review and submit them to the reporter during our meeting next week, and will send out responses to all with regard to the story and its' progression.

I will be posting this to every board I can find, and should you stumble across one that does not have it, feel free to post it there until May 5th (I need time to get everything together before my meeting).

Thank you
Jefferey Watson
     
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Predatory Lending Practices
Posted by on
DENVER, COLORADO -- My wife and I went to our local Wells Fargo mortgage center in Colorado to ask about refinancing our two auto loans that are currently with a credit union. We pay 7.5% interest and have credit scores just below 700.

We sat with an account manager for Wells Fargo, who had all our financial info and credit scores and the first offer was to give us two lines of credit, one for each vehicle at 160% of their book value which would be significant cash out to our pockets. We were told that they could offer interest rates around 3.8%

So, quite excited, we went home and did our math, but when we came back to go over the figures, we were told the interest would be an undetermined percent between 12 and 20% and of course the application and refi fees.

When we explained that was a ridiculous offer, the account manager then, already having all our financial information, noticed we had some equity in our home and proceeded to push very hard for a debt consolidation consisting of our two credit card debts and the two autos. My continued comments that I do not want to place unsecured debt against our house had absolutely no affect in their strategy to lock us in a loan with them.

As a last ditch effort, we were offered two credit card accounts with a combined 9k limit at 18%.
When I asked why in the heck we would even consider more credit when we came in to refi two autoloans, the response was “this would help our credit scores”.

Its baloney like this that the public needs to realize.

Wells Fargo’s only goal was to get us to take out cash and credit to get us further in debt and at a much higher interest rate then that which we already have. This is so typical of lending institutions when you’re not independently wealthy. You’re just another victim if you believe the rubbish and misleading advice they give you.

John Stumpf, CEO of Wells Fargo could make the decision to offer competitive rates to help people refi to lower rates which would save consumer funds, increase savings, and that would promote spending too.

Bottom Line: Wells Fargo has predatory like lending practices and should have to pay the government back since they can’t account for billions of dollars they accepted from taxpayers. They are part of the problem and until their greed can be suppressed, our citizens will continue to suffer.
     
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jenjenn on 2009-02-12:
Didn't you think the offer seemed a little far-fetched? I've never had a new auto loan with less than 5% interest.
Anonymous on 2009-02-12:
What concerns me is that you were excited about drawing your car loans up to 160% of their value, at any interest rate. Doesn't this defeat the purpose of re-writing the loan?
grandma005 on 2009-02-12:
I once had a credit union loan for a car at 2.9% interest. So it is possible.
KCRovert on 2009-02-12:
My most recent new car purchase was at 0.0% interest, over 36 months.
Aerocave on 2009-02-12:
I think Jen is referring to auto loans with banks OTHER than manufacturer-supported ones. (Example AHFC or GMAC)
Ponie on 2009-02-12:
KCR, I can beat that. Mine was at the same interest rate, only for just one day. But I guess I'm one of the crazy people who doesn't buy anything unless he can afford it. :) Drove the other one for six years while I saved my money.
madconsumer on 2009-02-12:
my last purchased truck was for interest rate of .09%. yes that is correct, .09%.... got to love Ford Motor!
jenjenn on 2009-02-13:
Yes Aerocave, that is correct! :) If you go to your local credit union, you're not going to get those rates.
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Wells Fargo Auto Finance Department
Posted by on
The most complex (and now the "rudest") company I've ever dealt with.
Occasionally, I have been a couple of days late with payments on my car loan.
Every time I've been late, Wells Fargo has hounds me, calling on my cell phone upwards of 10-12 times a day (at least).
When I choose to deal with them, they are arrogant and when I tell them I already spoke to a previous representative they get snippy with me.
Nothing is more annoying than these cold calling representatives acting like macho collection agency STALKERS!! They call at all times of the day from many different parts of the country. They don't swear at you but they try to make you feel like feces when you're a few days late!! They ask you why you're late as if they really care or if it's their own personal business. We are in a bad economy where people are charging off accounts in droves. Why do you think sometimes we are late?!?!
I guess that's why they like charging those outrageous 20% late fees. I guess they can't afford competent profesional help. A little sensitivity training wouldn't hurt either.
I'd love to see how they would feel if I called them a hundred times a day and badgered them. I think every consumer who ever had to deal with these people should sit back and call them all day and see how they'd like it!! The way these people act sometimes can bring a consumer (or two) to tears!!
     
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msnanny on 2010-10-30:
They are only doing their job, trying to collect on what is rightfully theirs. Maybe if you answered the phone the first time they called they would not have to call 99 more times?
DebtorBasher on 2010-10-30:
I agree with Nanny.
As with any loan, if your payment isn't there on the date due, it is considered late and they will start to call you. You may not be aware of what Cold Calling is, but it is not 'Cold Calling' when a company is calling about a debt you owe to them. Why do they think people are late? They don't know why, that is why they have to ask when they call and it certainly IS their business. Customers are aware of what the late fees will be when they sign for a loan, and they agree to them when they sign and accept the loan and yes, they are going to charge them. I'm not seeing the company doing anything wrong here. Unless they are actually contacting you and still continues to call you the same day they talked with you. But, if you don't answer their calls, they will keep calling until they make contact.
The reason they ask why you're late is to find out if your financial situation changed since you signed for the loan and if that change is temporary or permanent...such as hours being cut at work or being unemployed etc. There are usually programs they can help with depending on the situation. Yes, it is their business until the loan is paid in full.
leet60 on 2010-10-30:
"Occasionally, I have been a couple of days late with payments on my car loan."

As others have said, they are doing their job. A late is a late be it one day or one week. Consider yourself lucky that they even bother to call you about the payment. There are MANY auto finance companies that will not call you, but rather wait until you are late enough that you wake up in the morning to find your car gone.
jktshff1 on 2010-10-30:
Even if you answered, but did not pay or make arrangements, they would still be calling.
trmn8r on 2010-10-30:
"We are in a bad economy where people are charging off accounts in droves"

Don't you think this may be related to them hounding you?

Being "a few days late" on a loan is not typical. It may be happening at a higher frequency, but my guess is >70% of people are paying on time.
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Bad And Confusing Customer Service
Posted by on
First of all, there should be a specific individual that handles my loan and someone that I can deal with directly. There is no one like this. Each time I call, even if I happen to be returning a call from someone leaving a name, I am forced to talk with whomever answers their phone and they immediately ask for SS number to pull the account. Also, any calls come from offices all over the country.

Second of all, I happen to be a co-signer on a loan, which turned out to be a bad gamble, but when I stated my dilemma and that I was experiencing financial hardship, they turn out to be useless and unwilling to help. I was told that I could be set up on a 2 month paying delay and was never told that there would a waiting period to get approved for this. I was given this option by a person on the phone because I needed a little time to get my finances together and was told a person can opt to do this only once per year. This would simply mean that my interest would still be added on and the payment would be extend the loan further. Then, the next call that I received stated that they would be unable to approve me for this because it was considered to be a long term issue since my son is sick and unable to pay the loan at this time and is not collecting any form of disability. What does this have to do with me, I asked.

Thirdly, their people are sometimes rude and too direct and never seem to be willing to listen, let alone care about what the person (I) am dealing with. I have never struggled with my finances like I am now, nor have I ever had to deal with a poorly run company like this before. Even from the very beginning, there were a few hick-ups and I should have been forewarned. I will never deals with Wells Fargo Auto loan division again!!
     
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Harassing phone calls and misleading infor by customer serv
Posted by on
Be careful when applying for an extension. Had representative tell me the extension was approved only to receive a call the next day asking for a pyment and every day thereafter until I was lucky to get a supervisor on the phone to pull the call and review the conversation. Called this year and had the same thing happened, this time couldn't get to a supervisor. They won't tell you the extension is approved or not until after your due date which is too late because, so they apply the late fees and threaten to put your vehicle in repo dept. Regarding the phone calls, here are their numbers. hope this helps...
Hi everyone, tired of the calls, here are their numbers, block them out and watch, they will start calling with a "block number"...hahaha Wells Fargo, this feels good to get back at you for a change. now I only answer when I'm ready...YES!
1-800-565-2310
1-407-548-3281
1=605-226-7900
1-484-895-2000
1-816-584-2070
1-480-565-2310
1-480-337-2900
1-866-913-9323
1-866-799-1702
1-605-226-7900
1-801-246-0600
1-605-226-9444
1-407-744-1995
1-888-932-3011

Share with other Wells Fargo Auto customers...time to fight back!
     
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Wells Fargo Scam
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PO BOX 29704, ARKANSAS -- I got cut back to working 3 days a week. So as soon as that happened I went to the local Wells Fargo office they told me they'll work something out with me. So I go in there office and waited for 2 hours then called me in his office I explained my situation and the guy says I think we can help you, let me go speak to my manager. He comes back in and tells me he's got a perfect plan that would help me out he would get me $1000.00 and use that as my next 2 car payments and he would start my 60 month loan over as of right then.

So the past 8 payments wouldn't count as anything and that my payment will only increase a little over $100.00 dollars a month for 60 months all over again. I just got up and walked out after arguing with him and his manager for a few minutes while they were both trying to tell me what a great deal this was. DOES ANYONE NO OF WHO I CAN TALK TO IN GOVERNMENT SO I CAN INFORM THEM ABOUT THESE CROOKS?
     
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goduke on 2009-06-11:
I'm not entirely sure how that's a scam, and exactly what it is you think they should have done. Essentially they are finding a way to defer two months of the car payment and then re-fi the entire amount. It's going to be more on the backside.

Sorry to hear about the job situation. Is there a possibility of picking up a 2nd part time position to hold you over until the primary job picks up again?
Anonymous on 2009-06-11:
Actually, that may be a very good deal. They are lending you an additional $1000. If your loan is only 8 months old, then you have actually paid very little of the principal, and a lot of interest. I don't know what your balance or rate is, but in 8 months you could well have not paid it down by $1000.

It sounds like he is doing a re-finance. This will almost certainly be at a higher rate, because you are now a higher risk. You may want to revisit the situation, and ask them to explain how much they are putting towards your payoff, and how much the new rate is. Make your decision then.

It may hurt a bit, but it beats the alternatives.
MaggieMcT on 2009-06-13:
It's better than defaulting. And since you've got 4 days a week free, you've got time to look for a second job. Right now, any more $$ coming in will be an improvement. Good luck!
madconsumer on 2009-06-13:
you asked for help, they offered it, but you did not like the terms.
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Auto Loan Ranger
Posted by on
I wish I had never had my auto loan with Wells Fargo. Everything was fine till my husband lost his job and we missed some payments. And they call all day I told them I could not afford his truck loan 'and could they lower the payments because the payments were almost as much as my mortgage. We just owed about 14 more payments. The banks get a bailout and the banks have no mercy on you we could have kept the auto if they would have worked with us but they want all or nothing.

If you have a auto loan you better hope and pray you don't fell on hard times.
     
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Repeated Annoying calls from Wells Fargo
Posted by on
I co-signed for an auto loan through Wells Fargo for my nephew. He is an auto salesmen in the Detroit area and is running on hard times. He usually makes his payments each month, but sometimes makes them a day or two late. Wells Fargo repeatedly calls me to harass me, ask me lots of questions which I cannot answer (I'm 82 and they talk too fast)and they also give me fictitious phone numbers to reach them at such as 1-800-712-6600. I plead with anyone reading this: DO NOT GET LOANS THROUGH WELLS FARGO!
     
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Anonymous on 2009-12-18:
If you don't want calls from them, don't co-sign any loans with them.
madconsumer on 2009-12-18:
if you co-signed, you are as responsible as your nephew.
Brainiac 1000 on 2009-12-19:
My goodness. They are calling you because you are responsible for payments. Having said that I question the ethics of a company using an 92 year old cosigner, but loan legislation in the US says you should not discrinate on the basis of age.
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