- Report: #1248934
Complaint Review: Trend Financial - Toronto Ontario
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Trend Financial
70 disco road Toronto, Ontario, Canada
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Trend Financial Tyler Babcock who is a manager at Trend Unexplained Contract and rates Toronto Ontario
In December of 2014 I had a no fault accident, My insurance company extended my rental for 2 weeks during Christmas which worked out to 1 week with all the holidays. I found a vehicle in a rush. It took trend over a week to get paper work in order. By that time I had missed a whole week of work. When they called me in to sign they were suddenly in a hurry, telling me they apologize for taking so long but know well get you all done so you can pick up your car. Well basically im not happy with the car and have notified the dealership. Trend has no trade in program for me to get another car I have to buy out existing lease. The trade in value of this vehicle at best is 2500$ the buy out is 6200$ this leaves to much negative equity to hide in another car by the time the term of there lease is done I will have paid 9900$ for a vehicle that'll be worth 500$. How do they get away with it. Tyler babcock offered a buyout of 5850$ a month ago when I went to a new dealership and found a new car I got in touch with him regarding buyout of 5850$ his reponse was that it was a one day one time offer, when I told him what I thought of their business practices in an email. Days later I asked him another question in an email only to find out I've been blocked. What a spineless jacka**.
4 Updates & Rebuttals
Dom10
Ottawa,Alabama,
Canada
How long have you worked at trend?
#2Consumer Comment
Thu, April 28, 2016
How much more of a pure idiot, can you be. You make the absoloute most ludicris rebuttles. So that gives them the right to break the law, because we chose to go this avenue. It gives them the right to say one thing, but behind the scences without your knowledge to totally fraud you.
Your comments offer nothing, but gives us a pretty good idea of your ability to read and grasp what your reading. Thats some grade 2 reading comprehension you got going on. RIGHT ONNNNN BROOOO!
Victim of a theft from Trend
Sarnia, Ontario,Ontario,
Canada
This is their common practice
#3Consumer Comment
Sun, January 10, 2016
I had the same sittuation as you. I purchased a car from one of their "dealers" a company that deals with them for 90% of their stock. Within hours there were major issues and I dealt with the dealer but got no satisfaction basically the attitude was it is purchased have a nice day. this went on for weeks, into months all the while payingnthe rediculous lease to Trend, while they know I am nkt even driving it. Instead of telling me about the lemon law, they keep taling payments when I reach ropes ends and hreaten to stop paying they send me options. first option was I could take a loan out from them to fix it further, despite the thousands I already spent on it or take a new lease and Derek said they would wave the payments so I could sell it privately to get the most to avoid huge negative equity. I opted for that. I drive 5 hours to sign paperwork ans pick up vehicle. Within a week they tell me they want the car and for me to sign a new contract. I tell them what I was told and the response was basically to bad. I tell them the issue with the new truck, which failed a safety inspection after 340km, the drive hime. They say to bad basically. Short story they end up repo both and say I did not pay for the first one even though the payments were to be deferred. I also have an email saying that Eric the owner was mad because I filed a report on this site and was nkt going to honour any agreement Imhad with Derek or his paralegal. He threw a tantrum.... This place does not use ethics... My opinion is they got the name trend because it is their Trend to screw the consumer. Some of the nice reviews on their website is employees, as I saw a couple of the pictures working there..... Hope you get your issue resolved.... But I doubt it.
ericTREND
Ontario,Toronto
You chose the car...we loaned the money
#4UPDATE Employee
Mon, August 17, 2015
Hello; I reviewed your statement and I understand you are frustrated but I am unclear on the issue you have specifically with TREND Financial. I am an employee of TREND Financial and would like to assist you if possible.
The first item you mentioned is that it took TREND 1 week to prepare the paperwork for your loan. While I am not certain on the specifics of your file, the time is takes for us to prepare paperwork is usually just a few minutes. If a week has gone by the delay was most likely caused by 1 of 2 things; we have not received all of the required documentation from you, or the original selling dealer has not provided us all of the documentation which is required in order to process the loan. I understand that you were frustrated but it is in our benefit to process loans as fast as possible and not delay them.
The second issue which you are claiming is that there is an issue with the vehicle which you chose. This is similar to someone borrowing money from their bank to buy a computer, and then the computer breaks so you blame the bank. You mentioned that you purchased the vehicle in a rush, but that was your decision to make and not ours. It is unfortunate that we are the one getting blamed for lending you the money on a vehicle that you chose to purchase. The choice of the vehicle was ultimately yours and TREND has nothing to do with it; TREND is here to provide people loans once they find the vehicle that they would like to purchase.
Your third issue with TREND seems to be that we have not created a program for people to trade-in their previous vehicle and roll over any negative balance onto their next vehicle. Although you may be used to other lenders doing this, this is against TREND's philosophy of what we believe is responsible lending. TREND will not lend someone more than the value of the vehicle because we believe that this will only put the consumer in a far worse position later on in the future. It is a shame that this is being held against us as our intent and philosophy is not to bury a consumer in loans which are greater than the value of the vehicle – even if the consumer is asking to be buried in loans.
Finally, you are asking how we get away with you paying for a vehicle and by the time the loan it is done it is worth less than what you paid...I am not sure how to respond to this. Vehicle values go down over time. This means that if you take a long time to pay off a car then by the time you will pay it off it will be worth less by that time. For example, if someone wants a loan on a $5,000 vehicle for 4 years then the expectation is that when the loan is paid off that the vehicle should not still be worth $5000, it will be worth less. Obviously, the value went down over time while you would still be required to pay it off. Vehicle’s going down in prices is something controlled by us. All we did was lend you money in order to allow you to get the car you chose and the price you negotiated with the dealership. The fact that a vehicles value goes down over time should not be held against us.
If you still feel that TREND can assist you, feel free to email me direct at [email protected] and I will be glad to assist you directly.
Jim
Florida,USA
Welcome To The World Of A CAR FLEASE!
#5Consumer Comment
Mon, August 17, 2015
Why would you even for one second, consider getting into such a sorry deal as a CAR FLEASE? Its a FLEASE and YOU are the one who gets sheared!
