I have paid a car loan for over 18 months of $375 a month without ever being late. (36 month loan)
Recently after Ankle surgery where I would be out of work for 3 weeks with no pay, I called to see about getting a defferal ($25 fee and that payment is moved and not paid until end of loan). Having never even been a single day late on payments I would have thought this would be a no brainer. I didn't realize that THEY were the "no brainers".
I was told by Wachovia Dealer Services, that since I was on a "medical leave" and had no guaranteed income (thus the NEED for the deferral) that I was unable to get a deferral. Their reason was that they had no way to guarantee that I would have any income. The fact that my job is guananteed by FLMA didn't matter to them at all.
They said "when you go back to work" call and ask again.
REALLY? So, when I'm back at work and no longer need the deferral, ask about a deferral? This is their way to avoid ANY deferrals. I can guarantee that if I call and say I am back at work and need a deferral, their reasoning will be that I no longer need financial assistance and I'll be turned down again.
On a side note, I called another bank with another loan that is local to me and they said "We would be GLAD to give you a deferral" and suggested I talk to them about ref-nancing my car to their bank.
I would suggest everyone uses a local bank for their car loans. Wachovia Dealer Services will never be a lender of mine once I get my car re-financed to my other bank.
Jim Johnson
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