My experience was from 5 years back but I am dealing with the fallback later and the NEGATIVE inmpact on my credit.
In September of 2010 I went in and told the sales person I had about 2000 down. We went to look at a nissan Sentra. Test drove it and like it. So we sat down did the paperwork and then they said, well instead of a personal check can you bring a certified check while we work finance. I said sure why not. So I signed paperwork but never took delivery of the car, we were waiting on a certified check. Because of the nature of work I do I was not abe to get to the bank until two days later. I figured car will still be there, So i go back and fiance manager says you need more down like 1600 more. I said I couldnt do it. Mind you I never took possession of the car. I brought a used truck that did me well for quite a few years and then I moved to a city with a great commute transit system. So fast foward five years and I am looking to purchase a vehicle. Imagine my surprised that I have a loan through RED MOUNTAIN FUNDING for a vehicle purchased September 2010 a loan for 2 years at 850 a MONTH!! and it was deliquent. They somehow pushed this bogus loan through on a car I never took possesion of and now Im fighting it tooth and nail. Buyer be ware if you run your credit here make sure you check it again if you dont purchase from them because you may be in my situation. A 850 deliquent loan and no car to ever show for it. I drove it once for a test drive. These people are scam artists
I purchased a used car from a dealership and Red Mountain Funding was their own "lender". I paid my account on time every month and always carried current insurance on the vehichle. The dealership provided me with an insurance company the day I bought the vehicle and I maintained that policy with that same company throughout the life of the loan.
Six months prior to pay off, a repo truck showed up at my door to take the vehicle away. The driver was very rude and insulting as he demanded the vehicle. I was not home at the time and he insisted that my husband open the garage door so he could verify that the car wasnt in there. He stated that it was "out for repo" due to lack of insurance. My husband immediately called the lender and advised them of the issue to which, the "finance manager" demanded that my husband give him a debit card to make a $100.00 payment for the repo attempt right then and there. Not knowing what to do, my hubby gave him the money that he wanted, was told he would be back the next day and that he had till then to resolve it or else it would again cost another $100.00!!!! If I knew the name of the repo company, I'd report them as well.
When I spoke to the "finance manager" He was extremely rude and treated me as though I was a real deadbeat even though I'd never given them cause for concern about the payments. He also made a false claim that he had already reported the delinquency to my CBR (credit burea report) becuase they had to apply my payments toward force placed insurance and that caused me to fall behind almost three payments. Dont get me wrong, lenders can absolutely do this if they dont have proof of insurance but they had not done this, so the claim that he did was merely a threat!
I did not relocate to a new address nor did I change my phone number. I never got a phone call or a letter warning me of their concnerns about a lack of insurance...what I got was a shock at my door and a rude jerk as my lifeline to correct the mistake. I understand that lenders need to see prove that their investment is protected but I did that and was never late on payments. Needless to say, the issue was resolved but we were never refunded the "repo attempt fee" that should never have been attempted. The finance manager lied again when he claimed that he could correct my CBR as soon as I gave him the funds he wanted for the past due amount????? The loan was not past due. I've worked in the finance industry for decades and have never ever been able to correct a CBR immediately as he suggested would be done which led me to believe he lied to me just to get me to give him money that was not yet due.
Some extremely abrasive conversations later, they corrected their mistake (except for the refund) and never called me again but wow... was that ever unprofessional and has made me not want funding from them ever again. The dealership they work with was fantastic and they treated me EXTREMELY fairly. I would go to them again but cant risk them using Red Mountain Funding for my financial needs.
Red Mountain Funding Inc Reviews
My experience was from 5 years back but I am dealing with the fallback later and the NEGATIVE inmpact on my credit.
In September of 2010 I went in and told the sales person I had about 2000 down. We went to look at a nissan Sentra. Test drove it and like it. So we sat down did the paperwork and then they said, well instead of a personal check can you bring a certified check while we work finance. I said sure why not. So I signed paperwork but never took delivery of the car, we were waiting on a certified check. Because of the nature of work I do I was not abe to get to the bank until two days later. I figured car will still be there, So i go back and fiance manager says you need more down like 1600 more. I said I couldnt do it. Mind you I never took possession of the car. I brought a used truck that did me well for quite a few years and then I moved to a city with a great commute transit system. So fast foward five years and I am looking to purchase a vehicle. Imagine my surprised that I have a loan through RED MOUNTAIN FUNDING for a vehicle purchased September 2010 a loan for 2 years at 850 a MONTH!! and it was deliquent. They somehow pushed this bogus loan through on a car I never took possesion of and now Im fighting it tooth and nail. Buyer be ware if you run your credit here make sure you check it again if you dont purchase from them because you may be in my situation. A 850 deliquent loan and no car to ever show for it. I drove it once for a test drive. These people are scam artists
I purchased a used car from a dealership and Red Mountain Funding was their own "lender". I paid my account on time every month and always carried current insurance on the vehichle. The dealership provided me with an insurance company the day I bought the vehicle and I maintained that policy with that same company throughout the life of the loan.
Six months prior to pay off, a repo truck showed up at my door to take the vehicle away. The driver was very rude and insulting as he demanded the vehicle. I was not home at the time and he insisted that my husband open the garage door so he could verify that the car wasnt in there. He stated that it was "out for repo" due to lack of insurance. My husband immediately called the lender and advised them of the issue to which, the "finance manager" demanded that my husband give him a debit card to make a $100.00 payment for the repo attempt right then and there. Not knowing what to do, my hubby gave him the money that he wanted, was told he would be back the next day and that he had till then to resolve it or else it would again cost another $100.00!!!! If I knew the name of the repo company, I'd report them as well.
When I spoke to the "finance manager" He was extremely rude and treated me as though I was a real deadbeat even though I'd never given them cause for concern about the payments. He also made a false claim that he had already reported the delinquency to my CBR (credit burea report) becuase they had to apply my payments toward force placed insurance and that caused me to fall behind almost three payments. Dont get me wrong, lenders can absolutely do this if they dont have proof of insurance but they had not done this, so the claim that he did was merely a threat!
I did not relocate to a new address nor did I change my phone number. I never got a phone call or a letter warning me of their concnerns about a lack of insurance...what I got was a shock at my door and a rude jerk as my lifeline to correct the mistake. I understand that lenders need to see prove that their investment is protected but I did that and was never late on payments. Needless to say, the issue was resolved but we were never refunded the "repo attempt fee" that should never have been attempted. The finance manager lied again when he claimed that he could correct my CBR as soon as I gave him the funds he wanted for the past due amount????? The loan was not past due. I've worked in the finance industry for decades and have never ever been able to correct a CBR immediately as he suggested would be done which led me to believe he lied to me just to get me to give him money that was not yet due.
Some extremely abrasive conversations later, they corrected their mistake (except for the refund) and never called me again but wow... was that ever unprofessional and has made me not want funding from them ever again. The dealership they work with was fantastic and they treated me EXTREMELY fairly. I would go to them again but cant risk them using Red Mountain Funding for my financial needs.