Complaint Review: Capital One Auto Finance - Internet

The contract will be extended out one month, say it matures on 9/2011 it will be extended to 10/2011. that is why it is called an extension.

Have fun paying all that extra interest.  When you get an extension, yeah, they put that payment at the end of the loan, they also push the interest from that "one" payment to the end of the loan. 

To the originator of this post, I have been following credit card practices of USURY and FRAUD since I too experienced the same. I had literally thousands of dollars in fees when I could barely afford to eat. What happened is like with most people - I live from paycheck to paycheck as I struggle to get out of the consumer mentality we have had dumped on us by the financial de-regulation Wall Street folk and past US Presidents. I then was able to secure more work and then dug my way out. Banks target the poor. The thing I notice is the same cast of characters (including me) seem to show up on this site for various credit card complaints - a few are always trying to put down the customer and obviously must work for the banking industry. There is a similar thing happening with QUICKEN LOANS with an entity named KELLY. So try to educate yourself about the trap that you fell into - and then you can profit by it. This trap is intentional and can be understood easily. Two films to watch are MAXED OUT and THE END OF POVERTY?

The camel's head in the tent - the theory is that IF you can talk someone into getting your camel's head into their tent then you can get the rest of the camel inside. I think this is a very apt and logical analogy.

After 5 - 6 months of trying and being behing a month on my payments Capital One finally did the right thing and gave me an extension.  Feels good to be caught up again on my truck payment, but they should have done this 5 months ago.

I am glad to announce that after 5 or six months Capital one finally gave me an extension.  They finally did the right thing. I am finally caught up on my truck payment and it feels great.

..but at the same time I would not want to deny anyone's right to post opposing points of view.

When these "commentators" harass those who lodge reports here, the only ones who are going to agree with it, are others who feel the same. The crap they type here is not going to sway anyone's feelings, thoughts or opinions either way.

Those who have some compassion for their fellow man however, may take a different stance.

I am actually glad they are allowed to post whatever they want here, and it will not be edited or removed. Everyone has a right to an opinion. Sure if someone is just trolling to insult others to make themselves somehow feel superior that is not a good thing for anyone, but intelligent reasonable people can see right through it. I'd rather deal with these commentators, then see any bias on a site like this pick and chose whose posts and replies should be allowed to be published or not.

Sometimes we just have to take the good with the bad and allow the cream to rise to the top...or how does it go..Sh*t flows down hill.

It sickens me commentators are still allowed to harass the OP.  Do they enjoy stepping on peoples rights.  Sure they do they are nothing but the real losers themselves.

..but if there is a judgment day...I wonder if any camel will offer a free pass. Maybe the Lord has a sense of humor..we can consider this...

Then He will say to those at His left hand, You that are accursed, depart from me into the eternal fire prepared for the devil and his angels; for I was hungry and you gave me no food, I was thirsty and you gave me nothing to drink, I was a stranger and you did not welcome me, naked and you did not give me clothing, sick and in prison and you did not visit me. ... Truly I tell you, just as you did not do it to one of the least of these, you did not do it to me. And these will go away into eternal punishment, but the righteous into eternal life. (Matthew 25:31-36, 40-43, 45-46 NRSV)

At least now you can ride your camel around since the vehicle may not work out.

Your response is pure B.S.  I had always paid my payments on time, I just because I would have gotten an extension does not mean I would not have made my payments.  They just want to rack up late fee after late fee that i can't pay right now instead of just giving me the extension and letting me be caught back up instead of being a month late for 5 months now.

First off I would like to say that I used to work For Capital One Auto Finance. I think the problem is that you are just thinking of your problems and not looking at the big picture. Capital One is a subprime lender meaning they lend to customers with bruised credit who couldnt get financed by other lenders. This being said the company cant take the chance of giving extensions out too much which is why they have guidelines of 12 payments needing to be made first. Only if you knew how many people get in extension and then turn around and not pay for 2 or 3 months afterwards. Its all to protect the company's best interest.

If there is no way possible you can recover from this Cap One  not willing or able to work with you..file for bankruptcy and tell Cap One the keys are in the ignition and come get it. Make sure you clean out all your personal belongings and paperwork first.

I am not a financial adviser but you can not squeeze blood from a stone regardless of how hard the bank requests you squeeze.

Yes, your credit rating will be ugly, but in a few months if you can recover you will start getting a line of credit, and actually have banks to choose from. They will be contacting you..trust me. Then make your payments on time and before you know it you are back to a 750 or higher.

Am I happy that bankruptcy is an option? No..but if all you needed was a once month extension to catch up and the company FAILED to work with you knowing full well the repercussions,..then it is what it is. Unless they expect you to cut out "luxuries" like transportation to work or a roof over your head?

I have read my contract and it does not state that extensions are not allowed or that you have to make a certain number of payments to get one so they seem make rules up as they go along.

Not at all.  MOST lenders want to see a steady track record before granting any variances to an auto loan.  The standard is a minimum of ONE YEAR of on time payments.  Some lenders require a longer period of on time payments.

since they have not given me an extension i have told them, every time they ask about payment, that I will have to continue to be a month behind on my payments until they do give me an extension.

This a poor choice on your part.  They will assess late payment fees every month and add this to the balance of the loan.  In the long run this will cost you more money as well as having late payments reported to the credit reporting agencies.  This can have other detrimental effects; hard to rent an apartment, higher insurance rates, etc.  I would try to catch up as soon as possible to reduce my losses-you should do the same.

 If I have to I will file bankruptcy and will then be able to get my payments lowered, a neighbor of mine just did this and their payment was cut nearly in half, I do not want to do this but as I have told Capital one If they continue to not want to help they will leave me no other option.

Your neighbor was fortunate.  You may or may not be so lucky.  Declaring bankruptcy is no guarantee that you will be able to have your car payment lowered or even keep the car.  Your situation will be adjudicated in bankruptcy court-in other words, the judge will decide.  Further, because your auto loan is "young" it is more likely that the bankruptcy court would let them repo the car.  If you had some equity in the vehicle, then it would be more likely that the court would order a refinancing of the loan at a reduced rate.

Oh, and I don't work for any bank or lender.  I have been counseling folks with credit issues (voluntarily) since 1980.  I recently (Feb 2010) became CERTIFIED to perform credit counseling under the recently passed/updated bankruptcy laws.

Good luck.

I son't really care what anyone who is for these corporations has to say.  I have told capital one my situation, asked for an extension, I have read my contract and it does not state that extensions are not allowed or that you have to make a certain number of payments to get one so they seem make rules up as they go along.  since they have not given me an extension i have told them, every time they ask about payment, that I will have to continue to be a month behind on my payments until they do give me an extension.  As far as the person stating that I need to get another job.  I am not physically able to work more than I already do, due to a back surgery that has left me partially disabled and I am only permitted to work a certain amount of hours and make a certain amount of money.  If I have to I will file bankruptcy and will then be able to get my payments lowered, a neighbor of mine just did this and their payment was cut nearly in half, I do not want to do this but as I have told Capital one If they continue to not want to help they will leave me no other option.

 Jim and Robert forgot the one that actually applies to this report as posted...

23. I am in a bind this month since I had to move for a job, I can not afford the payment this month so can I have a one month extension or deferment?

Now perhaps it is a little mean to make a list of ways to discredit posters here that may not apply to the report...but at the same time I agree the poster needs to find a way to catch up on the month behind or it will only get worse. And then more jackasses will reply in ways to make it seem the banks are the somehow victims.

After all according to the list the OP must be a drunk, gambling, lazy idiot and the bank is the only victim of the recession, which coincidentally was greatly caused by whom?????. Not Obama or Bush, they are both just inept puppets..seems wall street did a little "deadbeating" of their own, at our expense. But don't ask for one month extension from them..I know, ask Obama or Bush..seems they didn't mind helping wall street using other taxpayers money..I mean is this a lie?

18.  My situation is unique and I am entitled to change what I am required to pay at will - It's the lenders fault.

19. I have other expenses and my job got changed.  The dealer should have seen this coming and should have refused to sell me this car I couldn't afford.

20. I am only one customer wanting a small change.  After all I am special and no one else would ever want to try to change their terms as well.

21. I got a loan for $20,000 and paid them $20,000, so I don't have to pay anymore money.  What?  No one ever told me about the interest - It's the lenders fault.

22.  The lender does not want to do what I want them to do so I will just block all of their numbers.  That will show them.

1.  They call and call because I'm late on my payment.  That's unfair.

2.  They call my relatives because I'm late on my payment.  That's unfair.

3.  They financed me because I have a history of not paying my bills on time.  I am doing them a favor.

4.  Thru no fault of my own I have bad credit.  Obama did it.

5.  Thru no fault of my own I have bad credit.  Bush did it.

6.  The dealer sold me a piece of junk.  Its the lender's fault.

7.  I don't make enough money on my job.  How dare you suggest I take a part time job?  That would take away my beer drinking time.

8.  After I spend my money on lottery tickets, I don't have money for the car payment.  They need to be more understanding.

9.  The bank keeps hitting me with overdraft fees.  Its unreasonable for you to think I need to keep a check register.  The big banks are after the little people.

10.  They have bad customer service!  They won't let me skip a payment.

11.  They all got bail out money.  They should give us a break.

12.  I know the contract says no extensions.  But they should give me one anyway.  I'm an American and deserve it.

13.  It is impossible for anyone to get ahead these days.  The government and big banks are holding us back.

14.  I'm just going to let them take the car.  That'll show them!

15.  I'm just going to let them take the car.  That way I'll be free of them forever and owe nothing!

16.  How dare you criticize my sub prime thinking?  You must have been born with a silver spoon in your mouth.

17.  How dare you criticize the fact I don't pay my bills on time!  Who are you to judge?

... we are in an economic crisis. So personally I don't  think it was unreasonable for the customer to request a one month extension due to the circumstances, nor was it unreasonable to complain that Cap One denied it.

Has far as Camels having anything to do with it, perhaps some do not get the metaphor or believe in or understand the bible or it's messages. So...to explain it in simpler terms, if there is a judgment day the greedy and cruel are going to hell.

Perhaps that clears it up a bit.

I am the kind of person that would have given a person an extension,

- Okay and when you start your company that is in the business of loaning money you can do what ever you want. 

Hey Reyna...

You better take those locks off your doors!  Afterall, you're passing judgement on those outside of those doors by JUDGING them to be criminals! 

I am the kind of person that would have given a person an extension, I have made 8 payments to this company.  So what will it hurt to give a one moth extension to get me caught up after some extinuating circumstances.  It would just extend my contract out one more month.

At one time I had money set aside and could afford the payment, but my company made all employees take a 40% cut in pay and then moved most of us to other cities as the office I was in closed down.  At the time I had to use what money I had set aside to keep up with my house payments.

Obviously people like you have never had to go through rough times.  I pay my bills, all I asked for was a 1 month exstenstion, so who are you to judge people when you have not walked a mile in their shoes.

What in the world does a camel have to with you paying your bills?

Just pay your bills, they are not obligated to give you any exrensions.  Besides that, yes, they are only interested in money, that's why they're in business.

I think I understand...Cap One is wrong because they want to actually hold you to the agreement that YOU made.... No mention of how you made an agreement and then did not make any provisions to ensure your ability to honor YOUR agreement - like having some money put aside to cover things like moving or breakdowns.  (You are aware that things like that occur from time to time I assume.)  I'm not sure, but I bet Jesus would pay his bills, and if he couldn't afford somthing he probably wouldn't buy it...

on the web.

How many payments had you made with the other company? 

How many payments had you made with Capital One?

Because from how you wrote this, it appears that the only reason that Capital One did not give you an extension is because you had not been with them long enough.  Where if the situation was reversed can you be 100% sure that the other bank would not have said the same thing.