Wells Fargo Auto Finance Review
In This Economy We Need Good Lenders - This is Not One of Them
One thing many of your lending companies for car loans and such offer is called a deferment. If you loose your job or your household and are current with your payments this deferment should be fairly easy to obtain from the bank for a short period of time.
One bank that is apparently not customer oriented and willing to assist their loan holders is Wells Fargo Auto Finance located at PO Box 29704 Phoenix AZ 85038. This writers family members have auto loans through Wells Fargo and when one of the members was laid off from his job he contacted them for this deferment action.
We contacted Wells Fargo Auto Finance a total of 6 times after my son was laid off from his employer and we spoke with 7 different employees at Wells Fargo Auto Finance including a manager. We were given 7 different reasons that they could not provide this deferral.
1. The loan payment must have been made within the last 30 days.
2. The loan had to be delinquent (more than 30 days), now how can we have made a payment within 30 days and still be delinquent.
3. You need to have a return date from your employer who laid you off.
4. We cannot approve you if your return date is more than 60 days from the date of lay off.
5. You must have applied for unemployment and been approved. (But unemployment is not considered a form of income to Wells Fargo Bank)
6. The manager stated, "You are lucky we gave you the loan in the first place why should we give you a deferral of payment?"
After 3 months of being on unemployment and finally being within 60 days of return to work Wells Fargo Auto Finance approved the deferral of payment for 60 days.
The unprofessional actions of the employees at Wells Fargo Auto Finance have led us to seek a new lender for this auto loan. Our standards for that lender will be much stricter than they were when we first obtain the auto loan 2 years ago.
My family could not in good conscience recommend Wells Fargo Auto Finance to any prospective customer and feel good about that recommendation.
Published by CJMathis
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37 Comments
Post a CommentThis banks custoer service sucks balls! Liars. Everyone that works in the Arizona office are idiots at least Chad and Claudia fr sure.
Absolutely right. I have had the unforturnate experience of having wells fargo as my auto lender since 2005. I am in the military and have moved 4 times in 5 years. When I asked for a deferral they said if I made 2 payments that they would approve me. I ate it and paid them 1200 dollars my next payday (I have 4 kids) and after I called for the deferment they said I did not qualify because my loan was not past due. So I missed the next 2 payments because of the 2 months of payements I saved for. Thankfully the military has methods to help me or I would have been screwed. DO NOT FINANCE ANYTHING THROUGH THIS COMPANY. They will harrass you and talk to you like you are a P.O.S. It makes it hard to do your job when these are the people whose rights you are fighting for.
i hate wells fargo! after being talked to like i am a naughty little girl (i am 56) i am ready to GIVE them the car and get a clunker and be happy
I've been asking wells fargo for a deferment for about 3 months now. I still haven't recieved anything from them yet and I know they're just going to give me the run around. My husband has been in and out of work right now been sick and all but yet they don't feel it's a good enough reason to approve a deferment. Why even create such thing if they do not want to give it out to help people. The customer service suchs...I think you have to speak to about 10 different reps before you can even get a straight answer from someone and you notice there is never a manager around when you ask for one. Wells Fargo is THEE WORST auto finance company I ever went with. They will never help you, customer service sucks, they are rude and mean on the phone. They promise to help you but they lie. I wish someone can audit them and but them out of business, and treat their CEO like crap and talk to all the customer service and beelittle them like how they do us. I will be writting corperate about
WELLS FARGO HAS ALSO GIVEN ME POOR CUSTOMER SERVICE. THEY HAVE GIVEN ME MULTIPLE DIFFERENT REASONS AS TO WHY I CAN NOT GET A DEFFERAL, REFUSED TO LET ME SPEAK TO A MANAGER. AND WILL NOT GIVE ME A COPY OF THE DEFERRAL POLICY. I WILL CONTINUE TO CALL UNTIL I GET SOME HELP, AS IT IS MY FUNDS (APPRX 8,000 PAID TO DATE) AND THE FUNDS OF ALL OF THE BORROWERS WHO MAKE BANKS THE HUGE NAMES THEY ARE(SEE INTEREST). I WILL NOT SPEAK TO ANOTHER REP WITHOUT THEIR NAME AND OR REP NUMBER, AND I WILL BE WRITING TO THE CORPORATE HEADQUARTERS ABOUT THEIR UNPROFESSIONALISM AND RUDENESS.
PS they told me "Wells Fargo did not take stimulus money." (Which I don't know if its true). This was the rational of one of their reps as to why I should not get a deferral!
I have called WFAF on multiple occasions seeking a deferment. They first told me as I had never missed a payment in the life of my loan (2 years to date) that I was eligible for a total of 5 deferments. Only 2 could be used in 1 year. Then after 5 calls, rude staff, I could only be told I was NOT eligible and basically under no circumstances would they give me one. "I don't have the money." is not enough, and the fact I lost my job, didn't suffice. Then after I got 2 months behind they told me if I paid a month then miraculously I could get a deferment. When I pressed and asked, why should I trust you? I don't have the money, but could find a way to make the payment in order to get a 2 month deferral. Well, naturally they admitted, that it would be no different when I was previously on time and still would not be eligible! So they lied to entice a payment! Screw WFAF!
Wells Fargo is ruthless with their collection tactics. Depending on the color of your skin and the area your call is routed to, you will range from the nice person who will give you helpful information or the rude unhappy individual who's life's goal is to have someone join them in their misery. They utilize harassment as a way to "collect" loan payments. I understand that late is late but damn why use all that negative energy for being five days late.
I've had the worst experience with Wells Fargo, I would never recommend them to anyone. I set up a payment arrangement to be taken automatically but decided that I wanted to save $10 so I went into a Branch and made the payment. I called Wells Fargo to have them cancel the phone payment and the rep had the nerve to tell me that I made that payment to "spite" them.......huh? Their tactics are ridiculous and need to be audited.
I had the exact same thing happen. My account number was changed and payments were lost. When I called to straiten it out I was told to make my payments and shut up or my car would not be there when I needed it most. I paid the loan off and will never get another loan through wells fargo.