consumer reports auto
consumer reports auto
consumer reports auto
consumer reports auto
#insurance auto auctions
Last Updated On: August 27, 2015
Insurance Auto Auctions Corporate Contact
Business Name: Insurance Auto Auctions Inc
Two Westbrook Corporate Center #500
Latest Insurance Auto Auctions Complaint
Misadvertising and dishonesty
On: April 2, 2015
Reported Loss = $2,000.00
Management sucks at this location. They ripe people off. I bought a car from this auction, which they damaged after I won the bid. When I went to get the car, It didn t look like the way it was in the pictures during the auction. They damaged the car pretty bad after I won the bid. I was waiting for 3 hours for them to bring my car.
After I checked with the security guard about the status of my car, he said you car should be here already because they handed him back the paper. Over the radio, he asked the guys in charge of pulling cars why they didn t bring my car and one of them replied: We couldn t find it. I pay pull out fees. Why he didn t keep searching until finding it? I believe that s when my car was damaged. And before I pick it up. I went to talk to the manager, the front end lady went to tell him, he said he was busy. Well, we all are busy, he isn t any busier than anyone who buy from this auction. It is not professional to reply in such an answer.
So, another manager named Helen came. I showed her the pictures of the damaged that I took while the car still sitting on their lot the car, versus the pictures they posted on their website. After she saw them, she went to talk to the manager who said he is busy. After she came back, throw the paper on the counter and said we cant do anything for you, you are responsible for the car once you buy it while she is laughing like a five year old that she was able to ripe me off. They did not even walk to the lot the inspect the car or investigate who damaged the car.
How am I responsible for a car they damaged while it is still sitting on their lot? If i am responsible for it as they claim, then they vandalized my car because it wasn t like this when I bought it. Pictures are the proof. So basically, they can damage the car after you win the bid, and you are responsible for it. This ridiculous, they have no business ethics, they aren t honest about what they sell to make buyer place higher bid so they can make more money. I called the cops and willing to take my case to court.
This is a real review and I have documents to support my claim.
Insurance Auto Auctions 2535 W Mount Houston TX 77038 | 281-668-5283 | iaai.com
Top 20 Used Cars to Avoid: Consumer Reports
20. BMW 7-Series
In the market and shopping for a used car? Consumer Reports has released a list of 20 used vehicles to stay away from as they have a reputation for causing trouble. Listed is a top 20 list of used cars from 2003 to 2012 model year to avoid in alphabetical order. These vehicles had multiple years of much-worse-than-average overall reliability, according to Consumer Reports Annual Auto Survey.
The BMW 7-Series may be the German automaker s luxury flagship, but used models aren t without their issues. From 2001-2008, the 7-Series featured the good ol Bangle Butt and sported some highly controversial styling. Early production of that generation was overwhelmed with issues even causing BMW to purchase back some of the vehicles back in 2002-2003. BMW of North America even extended its warranty on all 2002-2003 model year 7-Series vehicles to six years/100,000 miles from the original four years/50,000 miles.
According to Consumer Reports. the BMW 7-Series ranked worse in the categories of Engine Major, Engine Minor, Transmission Major, Transmission Minor, Body Hardware, and Audio System.
#auto finance companies
CFPB to Oversee Nonbank Auto Finance Companies
Bureau Publishes Exam Procedures for Supervised Companies in $900 Billion Market
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) published a rule today that will allow the agency to supervise larger nonbank auto finance companies for the first time. The CFPB also released the examination procedures that examiners will use to ensure that auto finance companies are following the law.
“Auto loans and leases are among the most significant and complex financial transactions in a typical consumer’s life,” said CFPB Director Richard Cordray. “Today’s rule will help ensure that larger auto finance companies treat consumers fairly.”
Auto loans are the third largest category of household debt, behind mortgages and student loans. American consumers had about $900 billion in auto loans outstanding in the fourth quarter of 2014. The automobile leasing market also continues to grow as more than a quarter of new cars are acquired through leases.
Auto loans are financed by both banks and nonbanks. Consumers can either get a loan through direct financing, where they seek credit directly from a lender, or through indirect financing, where an auto dealer typically enters into a retail installment sales contract that it then sells to a third-party. Banks, credit unions, and nonbank auto finance companies provide credit to consumers both directly and indirectly. Some nonbank finance companies are “captive” nonbanks, meaning they are owned by auto manufacturers and generally do only indirect lending.
Currently, the Bureau supervises auto financing at the largest banks and credit unions. Today’s rule extends that supervision to any nonbank auto finance company that makes, acquires, or refinances 10,000 or more loans or leases in a year. Under the rule, those companies will be considered “larger participants,” and the Bureau may oversee their activity to ensure they are complying with federal consumer financial laws, including the Equal Credit Opportunity Act, the Truth in Lending Act, the Consumer Leasing Act, and the Dodd-Frank Wall Street Reform and Consumer Protection Act’s (Dodd-Frank Act) prohibition on unfair, deceptive, or abusive acts or practices.
Under today’s final rule, which was proposed in September 2014, the Bureau estimates that it will have authority to supervise about 34 of the largest nonbank auto finance companies and their affiliated companies that engage in auto financing. These companies together originate around 90 percent of nonbank auto loans and leases, and in 2013 provided financing to approximately 6.8 million consumers. The final rule also defines additional automobile leasing activities for coverage by certain consumer protections of the Dodd-Frank Act.
The Bureau is finalizing the rule largely as proposed, with minor changes. The final rule broadens the category of transactions involving asset-backed securities that are not counted toward the 10,000 transaction threshold. It also makes a minor modification to the definition of refinancing for the purpose of the threshold.
To coincide with this new authority, the Bureau has also updated its Supervisory and Examination Manual to provide guidance on how the Bureau will monitor the bank and nonbank auto finance companies that it supervises. Examiners will be assessing potential risks to consumers and whether auto finance companies are complying with requirements of federal consumer financial law. Among other things, examiners will be evaluating whether auto finance companies are:
- Fairly marketing and disclosing auto financing terms: The Bureau will be examining auto finance companies that market directly to consumers to ensure they are not using deceptive tactics to market loans or leases. The Bureau would be concerned if consumers are being misled about the benefits or terms of financial products. The Bureau is also looking to ensure that consumers understand the terms they are getting.
- Providing accurate information to credit bureaus: The Bureau will assess whether information auto finance companies provide to credit bureaus is accurate. The CFPB recently took an enforcement action against an auto finance company that distorted consumer credit records by inaccurately reporting information like the consumers’ payment history and delinquency status to credit bureaus. The CFPB is looking to prevent inaccurate information from being reported in the future.
- Treating consumers fairly when collecting debts: The Bureau will assess whether auto finance companies are using illegal debt collection tactics. The Bureau will be looking to ensure that collectors are relying on accurate information and using legal processes when they collect on debts. The Bureau also will review the repossession process, including the practices of third-party service providers that are employed to repossess autos.
- Lending fairly: The Bureau will assess whether auto finance companies’ practices comply with the Equal Credit Opportunity Act and other Bureau authorities protecting consumers.
Today’s rule will take effect 60 days after publication in the Federal Register.
The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives. For more information, visit consumerfinance.gov .
#bad credit auto financing
Bad Credit Auto Financing
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#husker auto group
Husker Auto Group
Advertising / Sales Issues Read Complaint Details
Company will not stop sales calls.
I purchased a vehicle about 4 years ago from Husker Auto. I have since moved out of state, but I continue to receive calls from different salespeople asking me to sell or trade my car with them. I have asked to be removed from the list a number of times, but have received additional calls even the same week. I contacted Husker Auto again on Tuesday, ******* and asked to speak to someone with some authority to remove me from the sales team call list and was directed to Mr. ********* who did not take my call. I was then directed to marketing where a woman took note of my problem and assured me she would pass the message along and have me removed. I received another sales call on Thursday of that week.
Please remove me from all contact lists, including phone calls, email and mailings. I DO NOT want any further contact with Husker Auto Group.
Husker Auto Group is sorry for confusion. We have removed Ms. ****** from all of our systems. We had removed her from our system on the **** but her name was still in a cue we had to send to corporate to have her name removed. I have been assured by our corporate office that ****** ****** has been removed from all of our data bases.
Advertising / Sales Issues Read Complaint Details
I went in with preapproval on the CUDL system, but they change financing to a lender out of state with no approval or documentation.
I confirmed that HAG uses the CUDL (credit union & dealer auto lending network) system. I emailed a copy of my approval certificate to the dealer AND brought a copy with me. The first deceptive practice was trying to get me to sign a form showing ****% rate. I showed them my certificate from ******* at ****% and they went back and changed the form. The second deceptive practice was not explaining that they had inexplicably changed the lender from my credit union (2 minutes from my office) to ******************************* in **********. A month later I get a statement from **** telling me my first payment is due. Two minutes later I am at the credit union, they call ****, make arrangements to pay them off in full, but it costs me lien and title fees. Another month goes by, another statement from ****, telling me a have a balance of $*****, but no balance due. This lender seems very shady. My assumption is that HAG secured the loan for a lower percentage, then pockets the difference.
Case is being handled by another organization: ******** AGO
I want a written apology from HAG for their deceptive practice.
I want HAG to immediately stop this deceptive practice. I am sure there are legal requirements for them to disclose the financier at time of contract.
I want some money back for wasted lien and title fees, as well as several hours taken off from work to chase all this mess down.
IF this has impacted my excellent credit rating even slightly, I will pursue legal action.
We have been in contact with Mr. ******* and have come to an understanding. We will be sending Mr. ******* a check for ****** per our agreement.
(The consumer indicated he/she DID NOT accept the response from the business.)
They did not address my concern about the impact to my credit rating.
Billing / Collection Issues Read Complaint Details
They are charging me $****** for a payment they supposedly made for me, but are just now billing me 4 months later.