Miss Auto-Drafts to Collect more in Interest
Written: Sep 14 '07
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Product Rating:
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Pros: NONE!
Cons: It's a racket.
The Bottom Line: Stay away from these guys. All thieves and no help at all.
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| asb307's Full Review: Capital One Auto Finance |
These People are scam artists. They are not members on any Better Business Bureau and are apparently under investigation by the Federal Reserve. If you have electronic debit set up, they miss auto drafts and not only will they charge you late fee after late fee for their mistake until they decide to draft your account, they will later draft you to compensate several months later if you don't catch it (which has lead to countless overdraft charges) OR not draft it at all so that they can keep your balance high and thereby continue to add this interest to your principlal! This is what I'm dealing with at the moment.
Additionally, their record keeping is deplorable, their customer service is awful (look up any job site - they are looking for workers for meager pay and with no experience), and the only way I have gotten them to correct anything is the slightly veiled threat of legal action.
Also, my interest rate is now 2 points higher than it was with my original loan provider (they bought my loan when they took over Hibernia) despite the fact that I have had my account autodrafted for 3 years!!!
Go ahead and get a loan from them if you want, but I can guarantee you that in a few short months they will either hike your interest rate at their whim or start incorrectly drafting your account ... if they decide to draft you at all! Do your research - the web sites are full of stories like mine.
Recommended:
No
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Epinions.com ID:
asb307
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Reviews written: 1
Trusted by: 0 members
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