Citi Financial Auto
Third-Party Insurance Added to Auto Loan, How to Remove It
- 07-11-2008
- 18
BE AWARE: CitiFinancial Auto is adding third-party insurance policies to customers' loans. They claim that they received notice from your insurance carrier that your insurance policy has been canceled. Then they go ahead and get insurance for you and add the insurance costs to the price of your auto loan.
I have already had to fight with them for a friend of mine, and today I noticed they did the same to me. In the hope that this helps future victims, I will provide the fastest solution that finally got them to rescind the insurance policy they created and have the cost of that policy removed from the auto loan.
When you contact CitiFinancial, they will (after a long time on hold) transfer you to their insurance department. They will try to ask you to do all the legwork and send them a declarations page and other paperwork. Do not waste your time going this route. When I helped my friend, I had his insurance company send in all the information they asked for, only to have the CitiFinancial insurance department claim they never received it or that the paperwork was not completed correctly.
So here is what you need to do.
1.) Call 1-866-402-8073, the phone number for the CitiFinancial insurance department. Ask for your reference number. Ignore anything else they ask of you; your only goal is to get your reference number. If they have been sending you letters, the reference number may be on the letters as well.
2.) Call your insurance carrier and explain the situation.
3.) Ask your insurance rep to contact CitiFinancial Auto at the same phone number I listed, 1-866-402-8073. They MUST have the reference number when they call in. By calling directly, Citi cannot claim that they never received paperwork or anything else. All information can be given over the phone directly to a CitiFinancial representative.
It may take about a week for the excess premium to be removed from your loan. If your payment is due, pay only what your standard payment would be.
I hope this helps anyone avoid having to deal with this nightmare like I did.
Company: Citi Financial Auto
Country: USA
Site: citifinancialauto.com