ComplaintsforAuto Credit of Virginia

• Initial Complaint

  05/16/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  So I purchased a car from ***** **** The staff there was great.I have nothing bad to say about them.The price of the car was *******.I was approved by Auto Credit Virginia. I just recently asked for a pay off statement and they told me I still owe ******** I have had the car for two years paying **** a month and everything is current.I asked if they had a refinancing option and the answer was no. I went through a rough patch last winter because im in roofing. I stayed in communication with them. I missed a couple payment arrangements but I paid. This past February they called me on a monday for payment and i told them Friday.They repossessed my vehicle on Thursday. The Tow truck driver towed my vehicle illegally in the state of VA.He also messed up the suspension on my vehicle when he towed it. I was late 30 days. I paid the late payment and fees and got my car back. In order to get my car I had to sign an agreement under duress to put a tracker in my car. I signed because I need my vehicle for work. This past Sunday My payment came due.I went to work Monday and around 3pm the car was cut off.I had no clue why because it had only been one day.I scheduled a service appointment and I was planning to get my car towed to the dealership. The lady in the service department called me today 5/15 to tell me that my car wouldn’t start because my payment was “late”. I had to leave my car at my office the last two days and it rained and stormed nonstop now I have a crack in my windshield that stretches across the whole area of the glass.Dealing with this company had been nothing short of stressful. It’s almost like they want the vehicle back so they can still hold the remaining balance over my head. I asked if there is any way to cut ties with them. I even offered to give the car back and call it even. I paid *******. This is by far the most predatory company I’ve ever worked with. I DO NOT recommend. Their practices are designed to keep people in debt for their financial gain

  Business response

  05/20/2024

  
  The loan for ****** ***** regarding the **** **** ** had a starting balance of ********** from the origination date of 10/28/22. The customer has made consistent late payments on the account causing additional interest to be owed. The customer has not maintained payments according to the contract and as he stated he has paid over 30 days past due, resulting in repossession.  Once the vehicle was repossessed Auto Credit of Virginia gave the customer another chance to redeem the loan and resume payments.  The customer was required to pay the account current and pay ahead a month as well as pay repossession fees.  As part of the conditions for redemption there was a payment collateral device placed in the vehicle as an alternative since the customer could not pay off the loan balance in full.  The customer was fully aware of the payment collateral device as part of the terms for redeeming the vehicle and also signed the Passtime disclosure form; acknowledging and agreeing to the system being in the vehicle.  Auto Credit of VA adheres to all banking guidelines. The vehicle was not repossessed illegally. Auto Credit of VA uses a third party repossession agent to repossess the vehicle and the repossession agent did not mess up the suspension when the car was towed.  When the car came into the shop for the Passtime payment collateral device to be installed the technician informed us that the service brake pad monitor light was on when the car came in.  The customer was informed of this information and he stated that when he makes a right/left turn it makes a squealing sound and he made an appointment with ***** *** regarding this matter. Per the conversation on 5/16/24 the customer indicated that there was a disturbance when the vehicle was repossessed because he asked the agent not to take the car. This was incorrect as there was no disturbance and the repossession acted in the correct manner as the vehicle was out for repossession.
  On the past Sunday (5/12/24) when the customer references his vehicle being cut off the customer had a payment due that day. The vehicle did not actually cut off until the day after payment was due 5/13/24 and the customer also had access to 2 emergency codes that are good for 24 hours each where the customer can still start and drive the car.  This is a courtesy afforded to customers having the payment collateral device. When the customer went past due we did try to contact the customer; however there was no answer and the customer does not have a voicemail setup.  We have spoken to the customer today, 5/16/24 and he stated that he can make a payment on Friday and has since been provided a code to the car again as he has made satisfactory arrangements on the account.  When speaking to the customer today he also asked about refinancing in which he was advised Auto Credit of VA does not do any internal refinancing and he will have to go to an outside bank for that.  The customer stated he wanted to end his loan with Auto Credit of VA and was advised he will have to pay off the loan balance in full and can try doing so by refinancing the loan to another lender or selling the vehicle to then pay Auto Credit of VA the loan balance in full.  The customer also was advised during this conversation to call the insurance company to put in a claim regarding his windshield.  The customer had a thorough understanding of this contractual agreement and how paying late effects the loan.  We addressed every concern he had regarding the complaint that was received and he was in agreement and understood the information that was relayed to him.  The conversation ended with him agreeing to pay on Friday 5/17/24 and a code was provided to the customer. 

   

  Thank you for your assistance with this matter 

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