- Report: #311299
Complaint Review: Triad Financial Roadloans Road Loans - Nationwide Texas
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Author Confirmed
Why?
Triad Financial Roadloans Road Loans
triadfinancial.com 5201 Rufe Snow Drive Nationwide, 76180 Texas, U.S.A.
Phone:
800-879-9756
Web:
N/A
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Triad Financial Roadloans Road Loans SNAKES IN THE GRASS Nationwide Texas
I am a person that knows about high interest auto loans because I've had one other one before, however, something is not right in demark!! I've had a higher interest loan with GMAC before and have never had the problems that I am now having with TRIAD FINANCIAL - and my interest with GMAC was actually higher than it is with TRIAD. My balance is still about where it was when I first got the loan from them. I've had their loan for about twelve months now.
The original amt of the loan was 13,500, on the 12th payment my payoff is 12,900. hmmm what the heck is going on here! I've consulted numerous amortization schedules and their figures are not in line with any of them. I decided to talk to a rep and in talking to him figured out that they were APPLYING MY PAYMENTS TO INTEREST ONLY, and the rep stated to me that if I wanted my payments applied to my PRINCIPLE, I needed to request it EACH TIME I MAKE A PAYMENT!! What the hell!! So, I've been getting ripped off and didn't even know it!! How the heck would my balance EVER get smaller with ZERO amount of my money applied to my balance. WHAT BANK DOES THAT SH*T??
Also, they have been rude to me during the course of my dealing with them. When you call them, they grill you to death before you can ask them one question. When I tell them to read todays log notes, they get angry with me. Whats the point in log notes if they don't read them?? And yes, they do call you incessantly if you are late a few days. I've even had them threaten to take my car away JUST BECAUSE I WANTED TO TALK TO A MANAGER THAT I HAD SPOKEN WITH BEFORE! The rude rep said "I'm dispatching one of our repo guys, where do you want us to pick up the car?". JUST BECAUSE I WANTED TO TALK TO MANAGER REGARDING THEM IMPROPERLY APPLYING MY PAYMENT ONLY TO INTEREST AND ZERO AT ALL TO THE PRINCIPLE! They don't want you to exercise any of your rights or they THIS and they will THAT.
Well I'm sick of being tourchered by these HITLERS and their CONCENTRATION CAMP! I am tape recording every conversation from now on and I am keeping all my emails and writting to them with delivery confirmation!! ATTENTION TO ALL TRIAD SUFFERERS....CHECK TO SEE IF THEY ARE ONLY APPLYING YOUR PAYMENTS TO INTEREST AND NONE TO PRINCIPLE!!! (ESPECIALLY IF YOU SENT IN EXTRA PAYMENTS-IT SEEMS THEY WILL JUST HOLD ON TO YOUR MONEY LIKE A BANK SAVINGS DEPOSIT WITHOUT APPLYING PAYMENTS). What's the scoop on the Class Action Law Suit? Does anyone know? If there isn't one I might begin one myself!
Flabergasted_in_new_york
New york, New York
U.S.A.
The original amt of the loan was 13,500, on the 12th payment my payoff is 12,900. hmmm what the heck is going on here! I've consulted numerous amortization schedules and their figures are not in line with any of them. I decided to talk to a rep and in talking to him figured out that they were APPLYING MY PAYMENTS TO INTEREST ONLY, and the rep stated to me that if I wanted my payments applied to my PRINCIPLE, I needed to request it EACH TIME I MAKE A PAYMENT!! What the hell!! So, I've been getting ripped off and didn't even know it!! How the heck would my balance EVER get smaller with ZERO amount of my money applied to my balance. WHAT BANK DOES THAT SH*T??
Also, they have been rude to me during the course of my dealing with them. When you call them, they grill you to death before you can ask them one question. When I tell them to read todays log notes, they get angry with me. Whats the point in log notes if they don't read them?? And yes, they do call you incessantly if you are late a few days. I've even had them threaten to take my car away JUST BECAUSE I WANTED TO TALK TO A MANAGER THAT I HAD SPOKEN WITH BEFORE! The rude rep said "I'm dispatching one of our repo guys, where do you want us to pick up the car?". JUST BECAUSE I WANTED TO TALK TO MANAGER REGARDING THEM IMPROPERLY APPLYING MY PAYMENT ONLY TO INTEREST AND ZERO AT ALL TO THE PRINCIPLE! They don't want you to exercise any of your rights or they THIS and they will THAT.
Well I'm sick of being tourchered by these HITLERS and their CONCENTRATION CAMP! I am tape recording every conversation from now on and I am keeping all my emails and writting to them with delivery confirmation!! ATTENTION TO ALL TRIAD SUFFERERS....CHECK TO SEE IF THEY ARE ONLY APPLYING YOUR PAYMENTS TO INTEREST AND NONE TO PRINCIPLE!!! (ESPECIALLY IF YOU SENT IN EXTRA PAYMENTS-IT SEEMS THEY WILL JUST HOLD ON TO YOUR MONEY LIKE A BANK SAVINGS DEPOSIT WITHOUT APPLYING PAYMENTS). What's the scoop on the Class Action Law Suit? Does anyone know? If there isn't one I might begin one myself!
Flabergasted_in_new_york
New york, New York
U.S.A.
2 Updates & Rebuttals
Nikki
Coconut Creek,Florida,
U.S.A.
It's probably a simple interest loan.
#2Consumer Suggestion
Mon, March 03, 2008
Your loan is probably a simple interest loan. Most auto loans are these days. Say your payment is $400 per month. Say $300 is supposed to go to interest and $100 is supposed to go to principal. Say you are 10 days late. The $300 that is supposed to go to interest is divided by 30 days ($10 per day). When you are 10 days late, you are charged for 40 days of interest. Therefore your entire $400 payment goes to interest and none to principal. When you are ontime the next month, it somewhat catches up because you are charged for only 20 days of interest and the rest to principal. Unless you are in arrears with a "late" fee or two. This is why your loan is not amortizing as it should be. It's even worse when you are 15 days late. Then none goes to interest and the extra 5 days of interest gets taken off your next payment. And by then you are probably charged a "late" fee too that has to be made up. With simple interest loans, it is very easy to have none of your payment go to principal. And, yes, if you make an extra payment, you need to tell them how you want it applied. Everyone is doing that these days.
Me
Hutto,Texas,
U.S.A.
my experience with Road Loans
#3Consumer Comment
Sun, March 02, 2008
I also have a current auto loan through Road Loans. I refinanced a car that I had originally got a loan through the car dealership. After contacting Road Loans and getting approved for a lower interest rate than the dealer and a pretty good rate on top of that. I agreed to take the loan. The paperwork was sent overnight and I returned it the next day. I have very good credit rating and make all of my bill payments on time. I have never had a problem with them and would recommend them very highly to anyone else seeking a loan.
