I have been late before on my payments but i also have made plenty of payments that were over the monthly amount (350.00) a month sometimes i would send 400.00 they claim they never recieved my payments from the dealer that i financed the car from. Long story short premier auto credit apparently isnt responsible for keeping records of there payments. They took my car and when i called the rep said i owed over a 1000.00 dollars but how could that be when the same month on the 1st they sent me a statement for 800.00 after paying over 1500.00 to get my car back. i asked my balance they said it was 3400.00 left to pay. So after about 3 months of paying 400.00 i call to ask my balance and they tell me its still 3400.00 Where is my money going im sending it and they keep saying i owe money or im behind and all the extra money i have been giving on top of my payments is going to late fees? How can i always be sending money but my balance remains the same and im always in debt when i have been making payments? Its so easy for them to say that they never recieved the money and they claim its my responsibility that they are not recieving the money. How can that be that they are not accountable. Its easy to recieve money and say you never got it but im a hard working single parent.
Premier auto is a bunch of crooks. My payments are up to date and a few months have passed. I will call again and see if my balance is still 3400.00 after making payments for 6 months not including the 1500.00 from the repo that they said would be put towards the balance on my account. If it is i have exhausted all my resources and done all i can as an honest hard working person. They wont need to repo my truck... i will drive it right into the building and park it at a representatives desk so i can get out and personally drop all my reciepts and money orders they claim they never got.
My bank sent them out a check they said it was in the wrong name there for they came and took my car in the middle of the night. Took me I had to listen to what he had to say because he was in charge and he can make it a good thing or bad thing for over $342.48 payment. They have not send check back to bank said he did two weeks ago but no check is to be found.
1)When a call comes in, be sure not to log anything we spoke to the customer about.
2) Do not answer the phone until the 25th ring, if at all.
3) If the call does some how get connected, do not have the knowlege to answer any logical questions that are asked by the customer. NO EXPANATIONS ARE TO BE GIVEN- JUST DEMAND MONEY THAT IS REALLY NOT OWED AND THREATEN TO SEND THEM TO COLLECTIONS AND RUIN THIER CREDIT!
4) Act like your listening to the customer then tell them you will check into it and call them back within 48 hours.
5) Do not call them back under any circumstances and deny ever speaking with them when they call back.
6) Under no circumstances give them any information regarding the gap coverage we sell when they fiance the vehicle, just tell them that "I" dont deal with the insurnace portion of the finace agreement and I dont know where to refer you to.
7) Last but not least, be sure you are the biggest a****** to the customer to make them as angry as you can then, explain nothing as you remind them that they better pay ON A BALANCE THAT WAS TO BE PICKED UP BY THE GAP INSURANCE THEY PAID FOR ABSOLUTELY NOTHING TO BE COVERED WHEN IT IS A TOTAL LOSS. BE SURE YOU DO NOT EXPLAIN AY THING TO THEM SO IT PISSES THEM OFF AND THEN HANG UP ON THEM.
FOLLOW THESE 7 RULES AND YOU HAVE A JOB AT PREMIER AUTO CREDIT -
Today a woman called her name was Estella and she was harassing my mother who is an elderly lady. My mother asked that she be more respectful as she was being rude. Our car bill is due on January 3rd todayis the 5th, we are only 2 days late with payng the bill. She demanded payment and was very rude and threatening to send us to collection. Her tone and rudenss towards my mother is unacceptable. This is no the first time we have had this problem with this comapny so I decided I should report this behavior.
Premier Auto Credit is by far the worst company I’ve ever dealt with. I am a consumer that has taken the time to investigate their loan process and I have come to the conclusion that it is better to purchase a car directly from a dealership than it is to be financed through Premier Auto Credit. I only wish I would have looked into this company before I financed my car with them. Lesson learned! Premier Auto Credit is a third-party lender, privately owned auto finance company but registered as a corporation.
It is clear that Premier Auto Credit has targeted a specific client base (Hispanic/Latino) for very particular reasons which cause a disparate impact to the (Hispanic/Latino) community.
Need proof? Just look at the ratings and comments in Yelp and research the dealerships they deal with which are mostly ran by (Hispanic/Latino) owners. Hence, I would venture to guess that most of their customers are Hispanic/Latino. I attempted to finance another car and dealerships mentioned Premier Auto Credit and explained why they have stopped doing business with them.
Premier Auto Credit has purposely target the Hispanic/Latino community for they know they are able to exercise despicable predatory loan practices with the utmost confidence that the risk of their client base reporting these practices are minimal. Premier Auto Credit has not instituted measures to monitor discriminatory practices. Premier Auto Credit has caused damages to a significant portion of the Hispanic/Latino community utilizing and encouraging discriminatory rate pricing. To Continue, Premier Auto Credit along with the dealerships has taken advantage of this situation and has encouraged customers to:
· Apply for auto loans with credit bureau scores ranging from 460-600 without disclosing to the customer that the rates being offered are considerably higher than what would normally be offered to borrowers with the same credit scores.
· Add false information to the loan applications to help an unsuspecting customer secure an auto loan.
· Enter into a conditional sale agreement rather than a final sale so that the dealer will send the customer home with the car, then call the customer back a few days later to say that the loan wasn’t approved. The dealer renegotiates the loan to ensure the customer does not back out of the deal and will advise the customer that the down payment is non-refundable.
· Purchase overpriced add-on packages (credit life insurance, disability insurance, “GAP” insurance, theft deterrent packages, rust proofing, etc.), to inflate the vehicle cost and loan size.
The fact is service contracts are of minimal value because the service contract actually contains numerous exclusions, limitations and conditions, and providers deny claims for the cost of repairs without reasonable investigation. Gap and Credit Life Insurance products both often duplicate benefits consumers would already have through their car insurance carrier. GAP insurance that cover negative equity become less useful with older used car purchases, financing with shorter loan terms, or deals with significant down payments, since these factors tend to minimize negative equity in the loan. The average mileage on a unit that is financed by Premier Auto Credit is 140,000 miles.
Premier Auto Credit’s Discount Program fuels the dealerships to inflate the vehicle cost and loan size on top of the four latter points. For example, under Premier Auto Credit’s discount program a deal that is being financed for $8,000.00 will not be purchased by Premier Auto Credit unless the dealer is willing to pay Premier Auto Credit a certain amount of dollars to board the loan. Here is how Premier Auto Credit’s Discount Program works:
Discount (The Discount is set by Premier Auto Credit based on the credit risk of the loan): Discount is defined as a certain percentage the dealer must pay to Premier Auto Credit from the amount financed. Therefore, if the amount financed is $8,000.00 and Premier Auto Credit is asking for a 12% discount the dealership must pay Premier Auto Credit $960.00.
Acquisition Fee: Acquisition fee is a fee charged to the dealer just for attaining the loan and entering it into Premier Auto Credit’s data base system. Premier Auto Credit’s acquisition fee is $195.00.
Driver License Fee: Premier Auto Credit will finance customers who do not have a driver license only if the dealer will pay a fee of $195. Great, more unlicensed drivers on the road.
GPS Fee: Premier Auto Credit finances customers that range from subprime to below subprime and they understand increased interest rate markups and multiple add-ons increase a greater chance of delinquency and therefore create a greater risk of repossession leaving the customer no option but to hide the collateral. Premier Auto Credit understands that these predatory auto loan practices guarantee the customer’s failure to adhere to the contractual agreement and they ensure minimal loss by charging the dealer to pay $180 to have a GPS installed in the unit so that the unit is guaranteed to be recovered. Once the unit is recovered Premier Auto Credit will store the unit in one of their storage facilities utilizing their higher default and repossession rates to operate much like payday lenders; churning the same used vehicle several times as the basis for their abusive business model by selling the recovered vehicle back to the dealer instead of auctioning off the vehicle at a regular auction.
Gap Fee: Premier Auto Credit requires the dealer to pay $495 for GAP insurance (Gap insurance pays the difference in the event of a total loss between what the customer owes on the car and what its worth in an insurance company’s eye.)
The end result because of the fees the dealer will be shorted $2,025.00. Instead of the dealers check being $8,000.00 the dealers check will be $5,975.00. Premier Auto Credit masks its program to make it seem that the fees are being paid by the dealer when the reality is the dealer gets the additional fees from the customer so that the $2,025.00 does not come out of the dealer’s pocket. A deal that began at a finance amount of $8,000.00 quickly turns into $10,025.00 deal. This is how Premier Auto Credit through the dealer’s efforts inflates the vehicle cost and loan size.
There is a specific process that must take place so that the reporting to the credit bureau is accurate. To add insult to injury Premier Auto Credit does not acquire the required three bids when auctioning a repossessed unit after the Notice of Intent expires. As mentioned in the latter paragraph Premier Auto Credit sells the recovered vehicle back to the original dealer. There is no effort to acquire the best possible bid from the required three different entities so that the customer’s principle balance is reduced as much as possible before efforts commence on the deficiency balance. Bottom line, selling the vehicle back to the dealer without the three bids damages the customer because the unit was not sold at the best possible price. When the account is charged off and the deficiency effort commence the customers deficiency balance is being reported at a much higher dollar amount and the customer has to pay a much higher deficiency amount. Therefore, by Premier Auto Credit not adhering to the auction process it causes for inaccurate reporting to the bureaus and inaccurate deficiency amounts.
By attaining a payment history from Premier Auto Credit, I discovered that when my loan was charged off monthly payments were deducted and reapplied towards fees which include:
Premier Auto Credit Reviews
I have been late before on my payments but i also have made plenty of payments that were over the monthly amount (350.00) a month sometimes i would send 400.00 they claim they never recieved my payments from the dealer that i financed the car from. Long story short premier auto credit apparently isnt responsible for keeping records of there payments. They took my car and when i called the rep said i owed over a 1000.00 dollars but how could that be when the same month on the 1st they sent me a statement for 800.00 after paying over 1500.00 to get my car back. i asked my balance they said it was 3400.00 left to pay. So after about 3 months of paying 400.00 i call to ask my balance and they tell me its still 3400.00 Where is my money going im sending it and they keep saying i owe money or im behind and all the extra money i have been giving on top of my payments is going to late fees? How can i always be sending money but my balance remains the same and im always in debt when i have been making payments? Its so easy for them to say that they never recieved the money and they claim its my responsibility that they are not recieving the money. How can that be that they are not accountable. Its easy to recieve money and say you never got it but im a hard working single parent.
Premier auto is a bunch of crooks. My payments are up to date and a few months have passed. I will call again and see if my balance is still 3400.00 after making payments for 6 months not including the 1500.00 from the repo that they said would be put towards the balance on my account. If it is i have exhausted all my resources and done all i can as an honest hard working person. They wont need to repo my truck... i will drive it right into the building and park it at a representatives desk so i can get out and personally drop all my reciepts and money orders they claim they never got.
My bank sent them out a check they said it was in the wrong name there for they came and took my car in the middle of the night. Took me I had to listen to what he had to say because he was in charge and he can make it a good thing or bad thing for over $342.48 payment. They have not send check back to bank said he did two weeks ago but no check is to be found.
1)When a call comes in, be sure not to log anything we spoke to the customer about.
2) Do not answer the phone until the 25th ring, if at all.
3) If the call does some how get connected, do not have the knowlege to answer any logical questions that are asked by the customer. NO EXPANATIONS ARE TO BE GIVEN- JUST DEMAND MONEY THAT IS REALLY NOT OWED AND THREATEN TO SEND THEM TO COLLECTIONS AND RUIN THIER CREDIT!
4) Act like your listening to the customer then tell them you will check into it and call them back within 48 hours.
5) Do not call them back under any circumstances and deny ever speaking with them when they call back.
6) Under no circumstances give them any information regarding the gap coverage we sell when they fiance the vehicle, just tell them that "I" dont deal with the insurnace portion of the finace agreement and I dont know where to refer you to.
7) Last but not least, be sure you are the biggest a****** to the customer to make them as angry as you can then, explain nothing as you remind them that they better pay ON A BALANCE THAT WAS TO BE PICKED UP BY THE GAP INSURANCE THEY PAID FOR ABSOLUTELY NOTHING TO BE COVERED WHEN IT IS A TOTAL LOSS. BE SURE YOU DO NOT EXPLAIN AY THING TO THEM SO IT PISSES THEM OFF AND THEN HANG UP ON THEM.
FOLLOW THESE 7 RULES AND YOU HAVE A JOB AT PREMIER AUTO CREDIT -
Today a woman called her name was Estella and she was harassing my mother who is an elderly lady. My mother asked that she be more respectful as she was being rude. Our car bill is due on January 3rd todayis the 5th, we are only 2 days late with payng the bill. She demanded payment and was very rude and threatening to send us to collection. Her tone and rudenss towards my mother is unacceptable. This is no the first time we have had this problem with this comapny so I decided I should report this behavior.
Premier Auto Credit is by far the worst company I’ve ever dealt with. I am a consumer that has taken the time to investigate their loan process and I have come to the conclusion that it is better to purchase a car directly from a dealership than it is to be financed through Premier Auto Credit. I only wish I would have looked into this company before I financed my car with them. Lesson learned! Premier Auto Credit is a third-party lender, privately owned auto finance company but registered as a corporation.
It is clear that Premier Auto Credit has targeted a specific client base (Hispanic/Latino) for very particular reasons which cause a disparate impact to the (Hispanic/Latino) community.
Need proof? Just look at the ratings and comments in Yelp and research the dealerships they deal with which are mostly ran by (Hispanic/Latino) owners. Hence, I would venture to guess that most of their customers are Hispanic/Latino. I attempted to finance another car and dealerships mentioned Premier Auto Credit and explained why they have stopped doing business with them.
Premier Auto Credit has purposely target the Hispanic/Latino community for they know they are able to exercise despicable predatory loan practices with the utmost confidence that the risk of their client base reporting these practices are minimal. Premier Auto Credit has not instituted measures to monitor discriminatory practices. Premier Auto Credit has caused damages to a significant portion of the Hispanic/Latino community utilizing and encouraging discriminatory rate pricing. To Continue, Premier Auto Credit along with the dealerships has taken advantage of this situation and has encouraged customers to:
· Apply for auto loans with credit bureau scores ranging from 460-600 without disclosing to the customer that the rates being offered are considerably higher than what would normally be offered to borrowers with the same credit scores.
· Add false information to the loan applications to help an unsuspecting customer secure an auto loan.
· Enter into a conditional sale agreement rather than a final sale so that the dealer will send the customer home with the car, then call the customer back a few days later to say that the loan wasn’t approved. The dealer renegotiates the loan to ensure the customer does not back out of the deal and will advise the customer that the down payment is non-refundable.
· Purchase overpriced add-on packages (credit life insurance, disability insurance, “GAP” insurance, theft deterrent packages, rust proofing, etc.), to inflate the vehicle cost and loan size.
The fact is service contracts are of minimal value because the service contract actually contains numerous exclusions, limitations and conditions, and providers deny claims for the cost of repairs without reasonable investigation. Gap and Credit Life Insurance products both often duplicate benefits consumers would already have through their car insurance carrier. GAP insurance that cover negative equity become less useful with older used car purchases, financing with shorter loan terms, or deals with significant down payments, since these factors tend to minimize negative equity in the loan. The average mileage on a unit that is financed by Premier Auto Credit is 140,000 miles.
Premier Auto Credit’s Discount Program fuels the dealerships to inflate the vehicle cost and loan size on top of the four latter points. For example, under Premier Auto Credit’s discount program a deal that is being financed for $8,000.00 will not be purchased by Premier Auto Credit unless the dealer is willing to pay Premier Auto Credit a certain amount of dollars to board the loan. Here is how Premier Auto Credit’s Discount Program works:
Discount (The Discount is set by Premier Auto Credit based on the credit risk of the loan): Discount is defined as a certain percentage the dealer must pay to Premier Auto Credit from the amount financed. Therefore, if the amount financed is $8,000.00 and Premier Auto Credit is asking for a 12% discount the dealership must pay Premier Auto Credit $960.00.
Acquisition Fee: Acquisition fee is a fee charged to the dealer just for attaining the loan and entering it into Premier Auto Credit’s data base system. Premier Auto Credit’s acquisition fee is $195.00.
Driver License Fee: Premier Auto Credit will finance customers who do not have a driver license only if the dealer will pay a fee of $195. Great, more unlicensed drivers on the road.
GPS Fee: Premier Auto Credit finances customers that range from subprime to below subprime and they understand increased interest rate markups and multiple add-ons increase a greater chance of delinquency and therefore create a greater risk of repossession leaving the customer no option but to hide the collateral. Premier Auto Credit understands that these predatory auto loan practices guarantee the customer’s failure to adhere to the contractual agreement and they ensure minimal loss by charging the dealer to pay $180 to have a GPS installed in the unit so that the unit is guaranteed to be recovered. Once the unit is recovered Premier Auto Credit will store the unit in one of their storage facilities utilizing their higher default and repossession rates to operate much like payday lenders; churning the same used vehicle several times as the basis for their abusive business model by selling the recovered vehicle back to the dealer instead of auctioning off the vehicle at a regular auction.
Gap Fee: Premier Auto Credit requires the dealer to pay $495 for GAP insurance (Gap insurance pays the difference in the event of a total loss between what the customer owes on the car and what its worth in an insurance company’s eye.)
The end result because of the fees the dealer will be shorted $2,025.00. Instead of the dealers check being $8,000.00 the dealers check will be $5,975.00. Premier Auto Credit masks its program to make it seem that the fees are being paid by the dealer when the reality is the dealer gets the additional fees from the customer so that the $2,025.00 does not come out of the dealer’s pocket. A deal that began at a finance amount of $8,000.00 quickly turns into $10,025.00 deal. This is how Premier Auto Credit through the dealer’s efforts inflates the vehicle cost and loan size.
There is a specific process that must take place so that the reporting to the credit bureau is accurate. To add insult to injury Premier Auto Credit does not acquire the required three bids when auctioning a repossessed unit after the Notice of Intent expires. As mentioned in the latter paragraph Premier Auto Credit sells the recovered vehicle back to the original dealer. There is no effort to acquire the best possible bid from the required three different entities so that the customer’s principle balance is reduced as much as possible before efforts commence on the deficiency balance. Bottom line, selling the vehicle back to the dealer without the three bids damages the customer because the unit was not sold at the best possible price. When the account is charged off and the deficiency effort commence the customers deficiency balance is being reported at a much higher dollar amount and the customer has to pay a much higher deficiency amount. Therefore, by Premier Auto Credit not adhering to the auction process it causes for inaccurate reporting to the bureaus and inaccurate deficiency amounts.
By attaining a payment history from Premier Auto Credit, I discovered that when my loan was charged off monthly payments were deducted and reapplied towards fees which include: