Be careful of LS "Financing"

[Tinhack]

Common knowledge. Wells Fargo has the worst rep in the banking industry and possibly in the entire american economy.

Amen to that! I wouldn't deal with WF, period. No way no how. They are a walk-away deal breaker for me.

 

[PCABE5]

Surprised that state attorney general's still allow those practices to still happen.

 

[LS Tractor Owner]

Surprised that state attorney general's still allow those practices to still happen.

Well the 'legal scammers' have their cohort of attorneys to word their contracts in such a way that an unsuspecting individual or small business will feel confident in signing the agreement. They 'cover their butt' , using the excuse "the contract clearly states....."
I truly wonder how many people even read the fine print let alone fully understand it.

 

[oosik]

When I bought my new Kubota in 2009 - I went thru Kubota financing. I had to make a quick deal because the "special" on the tractor was ending in less than a week. By the time I made my first monthly payment I had rearranged my finances. The first payment paid off the entire loan. I was only charged one months interest. The remainder of the interest was dropped. Call it a loan or a contract - makes no difference to me. That's how it worked for me. Kubota finance made no bones about doing it this way.

 

[fried1765]

When I bought my new Kubota in 2009 - I went thru Kubota financing. I had to make a quick deal because the "special" on the tractor was ending in less than a week. By the time I made my first monthly payment I had rearranged my finances. The first payment paid off the entire loan. I was only charged one months interest. The remainder of the interest was dropped. Call it a loan or a contract - makes no difference to me. That's how it worked for me. Kubota finance made no bones about doing it this way.

Seems like they (Kubota/Wells Fargo) may have learned a unique financing trick or two in the past 12 years.

 

[MoKelly]

No question you need to be careful when dealing with banks. Here, banks are all over the place with respect to “early termination” of CD’s.

Some make you forfeit past interest. Some make you forfeit past interest plus some principal. The amounts seem to be different per bank.

The documents you sign are not written to help you understand - but they do spell out the penalties if you find the right section.

MoKelly

 

[spruce Deere]

Common knowledge. Wells Fargo has the worst rep in the banking industry and possibly in the entire american economy.

I'll second that motion.

 

[bridge4]

Common knowledge. Wells Fargo has the worst rep in the banking industry and possibly in the entire american economy.

Yup, wells and BOA are two of the biggest pieces of rat **** on the planet. They were bigger players in the subprime loan. Huge ATM and over-draw fees...

They dont give two poo's about banking, they are FEE oriented companies.

 

[fried1765]

Yup, wells and BOA are two of the biggest pieces of rat **** on the planet. They were bigger players in the subprime loan. Huge ATM and over-draw fees...

They dont give two poo's about banking, they are FEE oriented companies.

SO TRUE !!!!

 

[grsthegreat]

ive had a business and personal accounts thru Wells Fargo for over 20 years. i have NEVER paid a single monthly fee. Never. the paperwork clearly states a balance necessary to avoids monthly fees. i meet that .

I have never had a loan thru WF. i did get a loan thru Toyota back in 2017 for my new Tundra for 36K. i wanted to buy it with my credit card, but they would not do that due to CC charges. i wanted the truck so they suggested i purchase thru credit. Got truck with 0 down, paid it off in 2 payments (they did not have loan docs completed when first payment was due). after 2nd payment, there were no early termination fees. i did not have to pay any fees at all. Toyota didnt even charge me the 1st months interest.

id be pissed if i had to pay all interest fees off to pay early. defeats the purpose. the only other truck loan i ever had was on my 2004 chevy work van, they offered 0% financing. plus, if i financed they offered a FREE interior contractors shelf system and roof rack. win win. i paid that rig off in 60 months. no use paying off a 0% loan faster.