Complaint Review: Nissan Motor Acceptance Corporation - Nationwide

It is not the lender’s fault that you are unable to honor the terms of the financial agreement. Lenders are under no obligation to change the terms of an agreement.

“This purchase was a huge mistake and I am paying for it dearly.”

That is known as buyer’s remorse.

“If you are ever told that you are approved through Nissan Motor Acceptance Corporation, run away as fast as you can!”

All lenders will pursue a debtor that has failed to honor the terms of an agreement.

Oh yes the typical mantra of "They won't work with me" by a typical subprime borrower with an entitlement attitude.

If you went in with financing already and decided to go with their financing, that means one of two things.  The payments with your own financing would have been much higher, or you just like spending more money than you have to. 

Having the payments too high is not the fault of the fianance company.  They are giving you the terms under which they are willing to allow you to borrow money.  If those terms were as low as they could go and you still think the payments were high, that means you were buying a car that you couldn't afford.  This is 100% ON YOU and you alone.

Here is another fact...there isn't a single finance company that will refinance their own loan.   When the dealers are telling you that you can "refinance" in 6 months(or what ever time they give you).  They are giving you a half-truth.  Most people "assume" that they mean with the same lender(and some dealers do quite a bit to lead you to this).  However,  if you want to refinance you need to find another lender to do this with.  There are many banks who refinance and a simple google search will have you turn up a good dozen or so.  BUT the ability to refinance depends on your credit.  If your credit has improved in that 6 month period you will find it easier to refiance.  BUT...if your credit has become worse no lender is going to touch you.  Now, in your case you have a recent reposession which basically will kill any legitimate lender from refinancing you.   But the credit situation is again 100% ON YOU because you failed to meet the agreement you signed.

Now we get into the deadbeat portion.   As mentioned before when you purchase a car, it is 100% on you to decide if you can really afford it or not.  But once you make the decision to purchase the car..you are legally responsible for making the payments per the legal agreement you signed.  The lender is under ZERO obligation to do anything more than what is in the contract.

Now of course with  your entitlement attitude you somehow figure that you have the right to change the contract at will and change the terms you agreed to just because it is now tough for you to make the payments.  When the reality is that they are in fact "working with you", it is just not what you want.  They could technically reposess the vehicle the day you become delinquent, but they haven't.  You say they are calling you 3-4 times a day asking when you can make another payment.  Okay, so what did you tell them?  What did they come back with as a counter date?  Did you say you needed 3 months or 3 days before you could make a payment?  Did you say you could pay 1/2 the payment or $10?  As there is reasonable requests and there are totally unrealistic requests.  My guess is that they are giving you more options than you realize or are willing to admit because it doesn't work with your goal of making you look like some poor innocent victim against the big evil company.

Oh don't expect any finance company to treat you any differently.  In fact the real "sub-prime" lenders which you will soon be quite familar with, will do things such as install GPS devices on their car that will actually disable your car from starting the day you are late and make it very easy to track it down to reposess it after you are 2-3 days late.