Chrysler Financial Complaint - Chrysler Financial - Auto Loan

Review by jd69 on 2011-01-21
I have always made my payments on time since 2007. I even pay more than the min. I am unemployed now and wanted an extension cause I am having a financial bad month. They want you to pay the interest then secure the next payment..which is all fine until they put $15 for processing fees for both transactions when I can pay it for free on my billpay like I always do. I can't afford $30..I am unemployed! Then they want you to fax a signed paper..I don't have a fax machine. They were rude and I told them I would never buy another Chrysler again!!! I can't wait to get this car paid off..so I won't have to deal with this rude, unconcerned and unprofessional company again!! My past experience with Ford Credit was awesome..I will definetly go back to Ford credit after I get this car paid off!!!
Comments:5 Replies - Latest reply on 2011-01-22
Posted by saj80 on 2011-01-21:
I have never dealt with Chrysler financial, but how do you know Ford financial wouldn't have the same requirements? Because I wasn't in on your conversation with the rep, I can only make the following statement based on assumptions and experience: you didn't think the rep was rude until they told you what was required to process the extension, which you obviously don't like due to your financial situation. I feel very badly for anyone who is unemployed, but the fact that they offered you a compromise is indicative that they do have options.
Posted by momsey on 2011-01-21:
Did you also lose your job and were able to get an easy extension from Ford Financial?

Of course they need you to sign something and fax is usually the best way. You could go to a Kinko's or Staples or somewhere similar to fax it. Yes, it will not be free, but you don't really expect them to grant you an extension without you signing something, do you?
Posted by leet60 on 2011-01-21:
My only comment is that if you are financially distressed to the point you cannot currently make the interest payment + processing fee you may want to be very careful as to where you park your vehicle. You can be assured they have a record of the offer they made to you and will not hesitate to recover the vehicle if you don't comply with their offer.
Posted by T on 2011-01-21:
The unfortunate thing about loans and credit lines (mortgage, credit card, car) is that when you can't meet the terms that you agreed to, it can become very expensive in the form of fees, interest, etc. It is a fact that potential debtors need to be aware of when they sign to borrow someone else's money. I don't like to borrow money unless I have funds I can use to cover the payments in the case of an emergency.

It does cost money for someone to process special requests like this, you know. It has to be entered into a computer by someone.
Posted by localgod on 2011-01-22:
Great response trmn8r (terminator)! You are correct, it costs the lender more to monitor a past due account, hence there are fees involved that are passed along to the debtor. And then someone cries unfair because they cannot keep up with both the payments and fees. The simple fact is, you signed a contract. The contract stipulates that you repay the loan, regardless of disposition. Please do not complain when you are required to fulfill the loan terms.

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