I purchased a car in from a car dealer that "worked" with the Bank of the West to get the financing. I had A-1 credit, 760 rating, but the Bank finance this new / used car that the price was jacked up by the dealer, and a high interest rate of 10%. I agree, after the dealer had me in his showroom for over 3 hours, using the entire typical car dealer trick. The car, a 2000 Jeep Cherokee, 4-wheel drive. It had 12,000 miles on it. The dealer told me it was a demo vehicle, but I later found out it was a leased vehicle.
I agreed on a 5-year loan to get the payments down to $725 a month.in I lost my job, but was able to work now and them. I fell behind in the $725 payments twice, but made them up. I was offered a deal by the bank, so they could "work" with me. I had started a new job, so I felt I could handle the payments. I had paid the bank $1500 cash to make up two payments, and after the bank got the payment, they unknowing to me, reprocessed the vehicle from my place of employment. The tow truck driver came into my office, to let me know he was about to take the car. I went out to the parking lot to remove my items from the car as he suggested. Within that time, Bank of the West called the Tow Operator to ask if I was causing problems, and should they call the police. The tow officer informed the person on the other end of the phone, there was no problem at all. Being this was 9 AM in the morning, in the private parking lot of my place of employment, what was the bank expecting. I got my items, and signed the papers as requested by the tow operation, that he was taking the car at the request of the Bank of the West, I have remove my personal items. The tow operator gave me a document with his signature indicating that he was taking the vehicle and that there was no damaged to the vehicle.
One week later, I received a call from someone from the Bank of the West, indicating that had made a mistake, and they would return the car. I refused.
I went back to work and took a taxi home at the cost of $105.00. That weekend I rented a car, Toyota Corolla, at a cost of $650 a month, with a $500 deposit. I had this rental car for 8 months before I purchase a car CASH. No more banks loans with car dealers.
Then of four months later, I received a letter from the Bank of the West, indicating that I the Bank of the West reprocessed the car because I owed one payment ($725) and because I concealed the car or took it out of the state of California to hind the car from them. I did neither. The car has not been out of the stat of California, since I took ownership of it in 2001 and I have always parked the car in the garage at my complex.
The document also indicated that I could not reclaim the vehicle, unless I purchased it from the Bank of the West for $24,000. When the bank took the car, I was near the end of three year of a five-year loan. I paid $32,000 in 2001 for the car, yet the bank wanted $24000 after three years of payments of $725 for me to get my car back. Do the math.
I have never received any notice what so ever, about the vehicle, from that time in 2003 until when I contacted the bank and asked why they have put negative information on my Credit report.
I called the Bank, and I was told they would get back to me. The Bank of the West representative told me on the phone, that it would be unlikely that the bank would have taken my car over one payment. There was no information on my file, on what happened to the car, if it was sold and how much for.
One week later, I got a phone call from the Bank of the West with a new story. The person at the Bank of the West is saying that the Bank of the West took the car, because I owed three to four payments, even though the paper I got in said the Bank of the West took the car for one payment. I questioned the Bank of the West, about the notice that the Bank said they took the car because I "was concealing the car from the bank and took the car out of state to do so. The bank of the West had nothing to say about that.
It seems now, the Bank of the West has to go bank and make this whole thing makes sense. The Bank of the West has now turned this over to a collection company that calls me threatening me, yet has no basic for this action by the bank. I have told the Bank of the West, if they had a legal basic for what they did, they should pursue me legally in court.
The story continues.
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