Patrick
draper,#2General Comment
Sat, June 04, 2011
Lobel is a financial company. Not a car dealership. They do not sell cars and to be honest they have never seen your vehical. You asked them for money to buy a car and they agreeded to loan you the money and use the car as colaterol. They don't care what kind of car it is or how many miles it has. They leave it up to you to determine if it's a good deal or not and that the car is sound. If they repo the car of it breaks down that doesn't mean you don't owe them money.
When they repo a car they sell it at a dealer auction where it goes for about 30% of what you owe for it sometimes more, sometlmes less. Now they have recovered 30% of the remaining balance, they still need the rest of their money. They will pursue legal action to get it. I do not work for Lobel and never have. I simply looked into their practices before I got a loan through them. They charge a crazy intrest rate and have a no grace period loan meaning that you cannot be even a day late on the note. If you are they have the option of taking the car. That being said they do not just come pick up vehicals after 1 day. If you are habitually late or a pain in the collectors asses (ignore their calls or are rude to them) then they make the decision that they don't want to deal with you and will repo the vehicle. It is important to remember that you are dealing with "collectors" not "customer service". They will be rude to you and if you ask for their supervisor I would be stunned if you ever talked to one. You will talk to the person in the next cubical saying he is their supervisor. But dont feel bad, the supervisors know and dont care.