Complaint Review: Fifth Third Bank - Cincinnati Ohio

You need to get a print out of the loan history to see if your loan had money taken out and put back in by the bank. Also make sure the interest rate stayed what it was suppose to be during the duration of the loan. We had the money taken out of our loan and they tried to make us pay it when it was time for the loan to be paid off. They also fluctuated a fixed interest rate. The loan was taken out in 2002. The loan was to be paid off in 06 so the mistake wasn't found till then. They put us through He__! They agreed they made a mistake after repoing out vehicle. We are still trying to get this settled with them but they think they can just walk all over us, treat us like dirt and go on. Wrong! Good Luck to you!

(I am an employee but this response is not made in an "official" capacity. Hopefully this will help to resolve your situation.) There are a few things to keep in mind here, chiefly that A) before turning the car in, it must be inspected by an entity approved by the lender for wear and tear etc. (often within 30 days before maturity.) I see no mention of this although you may have just left it out; and B) the vehicle must be turned it at a specific location or picked up by a specific company to be in custody of the bank. Just leaving it with the original dealership is often not adequate and does not count as "returned." As much as you would like to believe otherwise, the dealership may not particularly care about the vehicle, either: it is just sitting in their lot taking space and causing extra work. While you may have a contract with the dealership to handle the inspection and pick-up/drop-off for you, you still need to follow up and make sure it is getting done. If not, you can take the car back and handle it yourself. The amount you quote sounds like the payoff for the vehicle, which is not necessary for you to pay so long as you are actually turning in the vehicle (provided you act within a reasonable timeframe.) Generally if turning in the vehicle is delayed, you will be responsible for continuing monthly payments until it is done. The amount itself seems consistent with the originally quoted payoff (called "residual balance" on your contract) if we assume that you have in fact been late a couple times as the late fees indicate. Also keep in mind that usually you will have a "termination fee" of $300 or so. Importantly, these fees are charged to you in your "after term" balance which will also contain any wear and tear and mileage charges which means that they do not need to be paid for you to turn the car in (but you will be receiving a bill for them later, usually split up in installments.) So, what should you do? If you do not feel comfortable that the dealership will appropriately handle the situation, you should tell them that you will take care of it yourself and possibly take possession of the vehicle until it is turned in. First, call the bank and speak with a lease agent or the lease terminations department and verify whether they have had any contact from the dealership--mainly, if the vehicle has been inspected. If it has not, the agent can provide you with the number to the inspection company which you can then forward to the dealership. Once the inspection is complete, a pick-up or drop-off should be scheduled. You will also be able to get the company name or drop-off location from the lease department. Once the vehicle is in the custody of the bank or an approved outside company, you will get a receipt and will not be responsible for any more monthly payments. You will want to call the bank to verify that this has all taken place a week or so after the fact. In a few more weeks, you will be receiving the bill for your after term balance in either a single, 6 or 12 installments. Hopefully this helps to resolve your problem.

What does the contract say? You or the bank or the dealer can say anything. It boils down to what the contract says. Contact an attorney. Let him tell you what it says. If they're trying to d**k you over, go after them hammer and tongs in court. It's amazing what happens when a bank gets a letter from an attorney. It might cost you a couple of hundred dollars but that's better then the $8,497 they say you owe them.