topic Re: currently have an AUTO loan with Wellsfargo Dealer Service but I just want a different company!! in Auto Loans

currently have an AUTO loan with Wellsfargo Dealer Service but I just want a different company!!!

vayub4 — Thu, 28 Jan 2016 00:57:24 GMT

I have a car loan with Wellsfargo at around 7% APR!!! Though I think that is a little high for my score level but I got the loan when my scores were lower due to high balance on one or two of my cards and another auto loan that i just paid off.... i still have high balance on two of my cards but that's because they are on 0% APR for another 12 months...

I have had this auto loand for about 7 months and was wondering if it is possible to refinance with another company say DCU..... I could use my local credit union but I usually dont have time during the week so I am looking for something I could do online without needing to go to the bank.

I am not switching banks because of the rates really, i am switching because Wellsfargo will not allow me pay more than my monthlies. They want to **bleep** me for the full interests over 5 years..... it only took me 15 months to pay off the first ever car I financed and I believe i can pay this one off within 3 years too now that I only have one car payments to make. And with CC companies offering 0% balance transfer checks all the time I want to be able to make use of that opportunity sometimes to pay off the car but wellsfargo will not let me.

Does anyone think I can refinance even though the loand is not yet up to a year? Do I have a shot at DCU low rate refinance?

As for my scores, I only know My transunion score for sure and it is currently at 746 according to barclays..... my discover says it is at 736 but that is because their score is from 2 weeks ago and barclays is more recent....

Like I said before, I have no problem with the rate at 7%, I just hate a company that will not let me pay more than my monthlies. If i ever pay more than that, they will pay off what is due and hold the rest to pay for next month.... That should not be legal in my opinion and with my scores, I feel i deserve better than that.... Every opinion will be appreciated....

Btw, the other car I just paid off reports to only equifax, which has my score at 706 on creditkarma..... It has not been updated as paid off

Re: currently have an AUTO loan with Wellsfargo Dealer Service but I just want a different company!!

Royalbacon — Thu, 28 Jan 2016 05:40:53 GMT

My scores are around 670-680 and I got approved with DCU for 2.74% (That includes a .5% discount on having my paycheck direct deposited into my DCU checking account)

With your scores you should be able to get the 1.99% (or 2.49 without direct deposit) at DCU.

Penfed as well adveritises auto loans as low as 1.49

With scores 730+ you can easily get better then 7%

Re: currently have an AUTO loan with Wellsfargo Dealer Service but I just want a different company!!

vayub4 — Thu, 28 Jan 2016 20:02:55 GMT

I put in application for penfed.... Currently pending, i hope they approve me.... The only bad things on my report are inquiries

Re: currently have an AUTO loan with Wellsfargo Dealer Service but I just want a different company!!

Royalbacon — Thu, 28 Jan 2016 20:09:16 GMT

Good luck and let us know how it goes!

Re: currently have an AUTO loan with Wellsfargo Dealer Service but I just want a different company!!

Anonymous — Thu, 28 Jan 2016 22:02:57 GMT

@vayub4 wrote:
I have a car loan with Wellsfargo at around 7% APR!!! Though I think that is a little high for my score level but I got the loan when my scores were lower due to high balance on one or two of my cards and another auto loan that i just paid off.... i still have high balance on two of my cards but that's because they are on 0% APR for another 12 months...

I have had this auto loand for about 7 months and was wondering if it is possible to refinance with another company say DCU..... I could use my local credit union but I usually dont have time during the week so I am looking for something I could do online without needing to go to the bank.

I am not switching banks because of the rates really, i am switching because Wellsfargo will not allow me pay more than my monthlies. They want to **bleep** me for the full interests over 5 years..... it only took me 15 months to pay off the first ever car I financed and I believe i can pay this one off within 3 years too now that I only have one car payments to make. And with CC companies offering 0% balance transfer checks all the time I want to be able to make use of that opportunity sometimes to pay off the car but wellsfargo will not let me.

Does anyone think I can refinance even though the loand is not yet up to a year? Do I have a shot at DCU low rate refinance?

As for my scores, I only know My transunion score for sure and it is currently at 746 according to barclays..... my discover says it is at 736 but that is because their score is from 2 weeks ago and barclays is more recent....

Like I said before, I have no problem with the rate at 7%, I just hate a company that will not let me pay more than my monthlies. If i ever pay more than that, they will pay off what is due and hold the rest to pay for next month.... That should not be legal in my opinion and with my scores, I feel i deserve better than that.... Every opinion will be appreciated....

Btw, the other car I just paid off reports to only equifax, which has my score at 706 on creditkarma..... It has not been updated as paid off

I wanted to ask.

1. What is Wells Fargo doing that prevents you from paying more than the monthly payment?

2. Your 7% loan. Is that for a new or used car?

Re: currently have an AUTO loan with Wellsfargo Dealer Service but I just want a different company!!

vayub4 — Thu, 28 Jan 2016 22:10:06 GMT

@Anonymous wrote:
@vayub4 wrote:
I have a car loan with Wellsfargo at around 7% APR!!! Though I think that is a little high for my score level but I got the loan when my scores were lower due to high balance on one or two of my cards and another auto loan that i just paid off.... i still have high balance on two of my cards but that's because they are on 0% APR for another 12 months...

I have had this auto loand for about 7 months and was wondering if it is possible to refinance with another company say DCU..... I could use my local credit union but I usually dont have time during the week so I am looking for something I could do online without needing to go to the bank.

I am not switching banks because of the rates really, i am switching because Wellsfargo will not allow me pay more than my monthlies. They want to **bleep** me for the full interests over 5 years..... it only took me 15 months to pay off the first ever car I financed and I believe i can pay this one off within 3 years too now that I only have one car payments to make. And with CC companies offering 0% balance transfer checks all the time I want to be able to make use of that opportunity sometimes to pay off the car but wellsfargo will not let me.

Does anyone think I can refinance even though the loand is not yet up to a year? Do I have a shot at DCU low rate refinance?

As for my scores, I only know My transunion score for sure and it is currently at 746 according to barclays..... my discover says it is at 736 but that is because their score is from 2 weeks ago and barclays is more recent....

Like I said before, I have no problem with the rate at 7%, I just hate a company that will not let me pay more than my monthlies. If i ever pay more than that, they will pay off what is due and hold the rest to pay for next month.... That should not be legal in my opinion and with my scores, I feel i deserve better than that.... Every opinion will be appreciated....

Btw, the other car I just paid off reports to only equifax, which has my score at 706 on creditkarma..... It has not been updated as paid off
I wanted to ask.

1. What is Wells Fargo doing that prevents you from paying more than the monthly payment?
2. Your 7% loan. Is that for a new or used car?

Believe me it is for a new car....

And I have researched it online it looks like that's what Wellsfargo Dealership does.... They don't let people pay more than the monthlies.... you either pay the monthlies or pay off the balance at once.... If you ever pay more than what is due, they will save the rest and apply it towards next months payment!! I just can't stand that nonsense any more, hence the need to change banks ASAP!

Re: currently have an AUTO loan with Wellsfargo Dealer Service but I just want a different company!!

vayub4 — Fri, 29 Jan 2016 00:33:51 GMT

App with Penfed says Preparing to disburse.... Anyone know what that means?

Re: currently have an AUTO loan with Wellsfargo Dealer Service but I just want a different company!!

vayub4 — Fri, 29 Jan 2016 18:23:29 GMT

Penfed approved!!! Not only did I ditch useless wellsfargo devices, I went from 7% to 2.74%!!!!

Re: currently have an AUTO loan with Wellsfargo Dealer Service but I just want a different company!!

Royalbacon — Fri, 29 Jan 2016 20:39:33 GMT

Congrats!

Re: currently have an AUTO loan with Wellsfargo Dealer Service but I just want a different company!!

Anonymous — Fri, 29 Jan 2016 21:15:17 GMT

I love PenFed they are awesome. You're HP is good for 60 or 90 days if you decide to try for another product (like a cc or personal loan).

Re: currently have an AUTO loan with Wellsfargo Dealer Service but I just want a different company!!

IncrsCreditScore1 — Fri, 29 Jan 2016 22:16:09 GMT

Awesome, vayub4.

Re: currently have an AUTO loan with Wellsfargo Dealer Service but I just want a different company!!

vayub4 — Sat, 30 Jan 2016 01:00:32 GMT

@Anonymous wrote:
I love PenFed they are awesome. You're HP is good for 60 or 90 days if you decide to try for another product (like a cc or personal loan).

Thanks guys.... I did apply for their rewards card but was turned down. According to them I have too many obligation with my current income... Another word for saying i have too many credit cards with high limits. I guess when the time is right they'll offer me a card by themselves.

Btw, my fico score at the time of the application was 725 according to them, cant wait till my other auto loan reports so it goes higher

Re: currently have an AUTO loan with Wellsfargo Dealer Service but I just want a different company!!

nycplayboy78 — Mon, 15 Feb 2016 01:49:42 GMT

YASSSSS!!!! DCU FTW!!!! Congratz and NEVER EVER use Wells Fargo for any Auto Finance THEY ARE EFFIN CROOKS!!!!

Re: currently have an AUTO loan with Wellsfargo Dealer Service but I just want a different company!!

ScoreOrBeScored — Mon, 15 Feb 2016 02:29:51 GMT

sorry to hear that your with WF . I too had them and had 3 different auto loans with them and they kept sticking me with

10.79% rates. I finally got my credit together and joined a CU and got 1.65% rate.

yes you can make a payment every 2 weeks (resulting in 13 payments in 12 month period) or pay more than your

scheduled payment. I use to do it all the time.

I have a Amex Serve card, I would add $1,000 a month to it from my QS CC and earn the rewards. Then I would use the

Amex bill pay system to push any payment amount you want per thru to WF dealer services. Maybe you can give that a try until

you refi your. Loan. (Note , they only accept Amex as cc uploads now, but you can use your checking account to upload funds

To the Serve card. Just a thought is all... GL