Capital One Auto Finance Capital Auto Finance stole my car!! Plano Texas
In September I refinanced my auto loan from Sovereign Bank to Capital One Auto Finance. My first payment to COAF was due in October and I paid it in full.
November 1st my car was repossessed by Sovereign bank who claimed I owed them 2 months of payments. After calling COAF they informed me the car was paid off September 20th and provided me with the check number and amount which I passed on to Sovereign. Sovereign apologized for the screw up and told me as soon as COAF faxed over the copy of the check they would release my car and pay all fees.
Over the next 5 days I placed over 30 calls to COAF. I received no calls back until the 6th day. On this day COAF told me the check was never actually cashed and must have been lost in the mail. I asked why it took so long to call me back and what they were going to do now to help me get my car?
The answer was "I don't know." They still have not called Sovereign Bank to try and re-issue a check or to reconcile this issue. Meanwhile my car has been sent to another state and is being prepared for an auction.
I have told COAF I am not making my next payment and as a courtesy they should either make it for me or put it on hold until I regain possession of my car. They told me this was not going to happen and I am still responsible for this loan.
I have filed a complaint with OCC who regulates COAF, my Attorney General, and the BBB. I'm pretty sure my car will be sold and we will be going to court. Since I no longer have a car payment I guess I can save up for a lawyer.
Briggsv137
warwick, Rhode Island
U.S.A.
4 Updates & Rebuttals
Daniel
Phoenix,Arizona,
U.S.A.
Capital One should have sent payment not by mail, but electronically
#5Consumer Suggestion
Mon, November 19, 2007
Hello,
I'm a Capital One Auto Finance Customer as well. My friend and I bought a car and they are the lender in my situation. Anyway, I'm supprised though that COAF did not electronically send the funds to the other lender. Usually, in the case of balance transfers and refinance transactions, funds are sent electronically rather than by check. COAF has not made me too happy either, we're behind by one month in payments and asked for a deferment and they told me I have to had 6 payments with them. Since I just made our 2nd payment, I will be out of their new accounts division and into another department and that is where I will represent this.
Briggsv137
Warwick,Rhode Island,
U.S.A.
Exactly right
#5Author of original report
Thu, November 08, 2007
You are 100% right Bart, I cannot be held repsonsible for 2 loans and COAF has told me nothing like this has ever happened to them before but after reading other complaints I find that hard to believe. We all make mistakes but its the reconciliation that matters to me. They've admitted fault but are not doing anything about it
Bart
Springfield,Missouri,
U.S.A.
How exactly?
#5Consumer Comment
Thu, November 08, 2007
How exactly can they hold you responsible for a loan that never existed by their own admission. If they never paid off your vehicle, they never gave you any money. You better go talk to an attorney immediately.
Bart
Springfield,Missouri,
U.S.A.
How exactly?
#5Consumer Comment
Thu, November 08, 2007
How exactly can they hold you responsible for a loan that never existed by their own admission. If they never paid off your vehicle, they never gave you any money. You better go talk to an attorney immediately.