Complaint Review: Wells Fargo Auto Finance - Nationwide

watch it on the web.

Sure FF, some employee of a nationwide major bank wants a car, so they repo one of their customers for "no reason".  Grow up!

Banks or other finance companies make more money if the loan is paid in full than if the car is a repo.  This is a FACT of the finance industry. 

The decision to repo or not repo is based on several factors.  Does the customer have the ability to pay going forward; how far behind is the customer; what is the payment history of the customer; how far into the loan term is the default; What is the possibility of the customer hiding, destroying or damaging the colateral; can the "word" of the customer be trusted.

The only reason a lender will add insurance is because the borrower FAILS to carry the REQUIRED insurance.  If the borrower also fails to pay the insurance on time, then the insurance will be cancelled and the lender will be informed accordingly.  I suspect in this instance the borrower had multiple insurance cancellations during the term of the loan and the lender became suspicious and/or concerned the collateral was in danger of not being covered.

The contract requires each payment to be made on time...it doesn't matter whether the borrower is in the hospital, out of work, in jail, on the moon or asleep.  Why is it so-o-o "shocking" they wanted payment when the borrower AGREED to pay it ON TIME?

When the car is repoed, it is sold at auction.  The difference between what the auction brings and what the borrower STILL OWES is the $7800.  Again, nothing new, nothing unusual here.

Audacity is when a borrower FAILS TO LIVE UP TO THE TERMS of the contract and then expects the lender to look the other way.

Banks I have seen do this alot when someone that works for them whats a truck or car. They find someone who can not afford to sue them and mess with them.

'Google' this- ENGINE SLUDGE, and go to the consumeraffairs website about 'Toyota Engine Problems', and have them read all of the complaints! Also make sure to tell the bank to click on 'Airbags' when they're at the consumeraffairs website and read how AIRBAGS are NOT DEPLOYING in many Toyota vehicles all over the United States of America!!! *PEOPLE'S LIVES COULD BE IN DANGER IF THEY HAVE A TOYOTA WITH DEFECTIVE AIRBAGS, wouldn't you agree? Also have the bank 'Google' this- YOUTUBE TOYOTA SEQUOIA DEFECT, and have them watch the video of a Toyota Sequoia that flipped over on I-95. Then have them 'Google' this- TOYOTA RECALLS 1.3 MILLION CARS, and have them read that! Also have them 'Google' this- BUY A COROLLA GET BURNED LITERALLY, and have the bank read where a man burned to death in his Toyota Corolla!!! And make sure to have the bank executives go to Ripoffreport.com and type in- TOYOTA, and read all of the Rip Off Reports, okay? Tell the bank executives that they can 'Google' this- SLUDGE POEM, and read it! Toyota's CEO, Jim Press, QUIT his position with Toyota exactly two weeks after 'SLUDGE POEM' was posted about him at Ripoffreport.com on 8-23-2007. Toyota's CEO announced his resignation with Toyota on 9-6-2007 and went over to Chrysler. Chrysler COLLAPSED not too long ago & filed for bankruptcy. The government had to BAIL THEM OUT with TAXPAYER'S money, and Jim Press is still there??? WOW! I hope that you didn't have a Toyota. I hope that your Rip Off Report is spread all over the WORLDWIDE WEB for everyone to see & read! I hope that you get a new truck!!! I hope everything works out for you!!! Good luck to you, and God bless you!!!!! P.S. Make sure to 'Google' all of the following & watch them on the web- THE OBAMA DECEPTION THE ASCENT OF MONEY PBS INSIDE THE MELTDOWN FRONTLINE THE MADOFF AFFAIR AMERICA: FREEDOM TO FASCISM BUSH'S WAR YOUTUBE CONDOLEEZZA RICE LIAR 9/11 PRESS FOR TRUTH Thank you.