Fifth Third Bank
Auto loan prepayment ripoff or how the bank makes thousands of dollars off of you

I called fifth third bank requesting a payoff amount on my car. Since i was tracking my loan i knew i owed about 16,000 dollars on my account, If i paid it off my amount would be about 12,000 dollars minusing out interest i would not pay as i would owe nothing due to prepaying. My shock was in speaking to a customer rep i was told i would have to pay 16,000 dollars. When i asked why i would be paying interest on money i no longer owed he said he did not know why but was just looking at a printout. I asked to speak to a supervisor and was given the most horrible, disinterested, nasty person i have ever spoken to on a phone. Her answer was its our money and you will pay it. When i told her that many times i have prepaid car and home loans without paying tis interest and her only comment was its our money and you will pay it. None of my sales papers on the car shows a penalty or that i would have to pay the extra inerest if i paid the car off. I have written two senators and one congressman to see if this is legal and the best so far is a phone number to register a complaint. I also wrote to the CEO of fifth third bak seeking some reply which after three weeks has yet to come.By far the rudest and worst bank i have ever dealt with.

Company: Fifth Third Bank
Country: USA
State: Ohio
City: Cincinnati
Address: 5050 Kingsley Drive
Phone: 8009723030

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