Wells Fargo Bank Informative - Illegal Promissory Notes
NEW JERSEY -- A car dealer sold me a used van and a extended coverage plan for some $2,000.00 for 60 months. The dealer financed the principal loan amount combined with all the costs that went with the extended warranty. The dealer sold me an extended coverage which could not be offered and after months of aggravation the extended warranty company confirmed that there was NO record of any coverage on this vehicle. I called the dealer for my money back and they sent me a lengthy letter calculating the money I would be owed and I should wait until 6 or 7 months before the loan was paid off and then call Wells Fargo bank and tell them that this was the amount they owed me and to collect it from them. None of this made any sense, but as I followed through with a call to Wells Fargo Bank retail auto loan department, they told me they did not and never would owe me any money, the dealer would and does. I asked if I paid the loan off right away, would we deduct the extended coverage that I paid for, but never received. They said no. I then asked how they could act in a fiduciary manner to implement and enforce a fraudulent promissory note. The extended warranty was clearly on and in the note with both financials and insurers names. If that part of the note was not legal, how could any of the note be legal? I was told that they would not bother their legal department with "NONSENSE" like this.