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Wells Fargo Finacial Institute Informative - A loan for $2,000 - Car Loan

Review by scott.romigh on 2001-12-13
MARLTON, NEW JERSEY -- I have a loan thru Wells fargo and only had 2 1/2yrs to go till my car loan was paid off. I wanted to borrow $2,000 for a quad runner in which I already had $4,000 to put down on the bike. The bike was for $6,000, so I called Wells Fargo and ask if I could borrow they said "sure we will just add $50 a month to your car payment till your car is paid off" So later that day I went to sign the paperwork and few months later I noticed on my bill that not very much of my car loan was coming off. I called Wells fargo and they said that they add 1yr to my loan and add the $50. I was never told of the extra year till I seen my bill. So, after saying that I'm paying $7,280.00 for a $2,000 loan. Wells fargo said they couldn't help me and that the guy that did my loan no longer works for them. Wells Fargo in Marlton NJ rip people off big time.
Comments:2 Replies - Latest reply on 2002-01-30
Posted by Anonymous on 2001-12-18:
You should have read the loan agreement and gotten a copy.
Posted by Anonymous on 2002-01-30:
Does your paperwork explain the details of the pay back, if not, there is a problem with truth in lending practices, contact the Federal Trade Commision and your states trade commision.

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