Horrific. Never again will I use e-loan.
Written: Aug 29 '06
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I'm not sure I can put into words the frustration I have experienced with my first and last e-loan experience. Everything started out fairly smoothly, but it quickly went bad, very bad. I had purchased a car out of state when I decided to use e-loan because of its guaranteed fast service and highly competitive rates. The rate I received was good, a bit higher (.25 percent) than the web site would lead me to believe. I was fine with that, although a bit annoyed. My main reason for choosing to work with e-loan was because of its seemingly ability to offer quick service and a power check the next day. I paid the extra $15 to eloan to have the next day delivery and bought a one-way airline ticket to get the car I had just purchased. It all seemed so easy.
The check never came. I have a purchased plane ticket, a tight schedule and e-loan fails to get me the check. Of course, the $15 overnight fee had already been taken out of my checking account. I wasn't too freaked out yet, as there are so many ways to transfer money, I was sure e-loan would make good on the deal that we had. I was very wrong.
E-loan did admit the oversight, but insisted there was nothing they could do. The was supposed to get to me on Friday and my flight was early Saturday morning. They offered to send the check to me for Monday delivery. What good would that do?
After relentless phone calls to and e-mail to eloan they finally said they would overnight the check to the dealership for Saturday delivery. I agreed. The check actually did show up, but my problems weren't over.
My loan funded and I followed the instructions eloan provided to me and the dealership, assuming they at least knew what they were doing here. They didn't have a clue.
The title for the car needed to be sent by the dealership to e-loan so the dealership could fund the car loan. My state Indiana, however, will not register a car without the title. Do you see the problem? E-loan can't. They sold my loan servicing to a third party vendor. Again, I am in a vicious cycle of phone calls, transfers, hold time and emails. I have a car I can't register so I can't get a license plate.
Think e-loan cares? Hell no! They have the signed loan papers, and now I have to deal with this backwater servicing company that says I can't have the title until my loan is paid.
If and when I do get the title, I will have to pay a fine to the Indiana BMV for failure to register the car timely. The temporary plate expires in a few days, too. Do I actually have to involve a lawyer?
Believe me, you don't want to do business with e-loan.
Recommended:
No
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Epinions.com ID:
darrincurtiss
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Reviews written: 1
Trusted by: 0 members
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