To all those that are still stuck with Capital One Autofinance. I purchased my car in 2002 for 6 years, with a monthly payment of ($500 - sound familiar?). While my husband was out of work periodically over the years I had deferred 3 payments.
Around April they sent me a letter stating that I was three months behind in my payments and they had my car scheduled for repossession (they were those so called deferred payments). I asked how much it would cost to get everything back the way it should and they stated $1,991 would bring me current. My job gave me the money and we overnighted them a cashiers check the next day.
I expected to pay my car off in May and was making all the payments on time. On the 21st of March I come home to a letter stating that they wanted $1,663.27 by the first of April or they would take my car. I thought that everything was up to date and I only had three payments left. What I found out after three phone calls that my loan had been paid off on February of but because of the 3 deferred payments, I still owed that amount and they would not re-negotiate with me. I had made all the 72 required payments (although by their account I was 34 out of 72 payments late).
When I stated that in April of their rep could have told me that, they stated that he would not know that information. What kind of computer system do they have?
When you defer a payment with them they start adding up extra money on those payments from the very first one.By Monday when I talked to their legal department the amount was $1,668 and would continue to go up. They would not accept the monthly payments anymore, they wanted the full amount. They will hit you with a balloon payment at the end, so be aware!
My solution - while I was looking forward to not having a car payment, I would not let them take my car when what they stated I owed late fees, not car note fees. Right after work that day, I went to my car dealership and got another car and had them pay off Capital One. My car dealership stated that they think they are going out of business, or filing bankruptcy.
My requirements to my car dealership was to pay off the rip off artists, lower my payments (which they did), and I told that that I would not purchase another car if it was with this company.
I also noticed that someone else had a problem with the many phone calls. When that happened to me, I filed a complaint with the BBB and stated that I did not want ANY phone calls. Since then, I have not received any, and when I call and they ask for my phone number, I tell them to look at my file because you won't get a number from me. I got rid of my house phone mainly because of them.
When the law suit is filed, please include me!!
0 comments