This is not a rip off per se but is a warning to anyone considering financing a vehicle through RI Credit Union.
If your payment becomes a month late RICU demands that you bring the payment current immediatly or they repo the car. Most lenders will allow you to at least pay the previous month's payment but RICU says that if you send it in, they will refuse it.
Example: Your payment is due on the 15th of June, on July 16th they tell you that you need to pay June and July NOW or we going to repo it; if you offer to at least send in the June payment they say no, they'll refuse it.
I know some of you high and mighty "non-losers" are going to say "don't buy something if you can't afford it" and the like. I agree, that's not my point. My point is that RICU is just very uncooperative when it comes to trying to resolve a delinquency issue to which I know some of you will say "they don't have try to resolve it, you're in default!" You're right, it's just that most lenders will at least try to work with you to help you bring your account current but RICU is not one of them. If you are considering financing a vehicle through them, keep in mind that they are very inflexible.
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