Not Paying Car Payments

ComplaintsFinancesUS Equity Advantage aka 866 half pay

Complaint

0
Ms. V
Country: United States
I canceled my contract on November 4, 2009 after contacting my auto finance company and finding out that my November car payment hadn't been made even though the money had been taken from my account.  I was told by Brenda that I would receive my money by November 18, 2009.  On November 19, 2009 I called back to inquire to where my money was since my car payment was due on November 21, 2009.  I was told by Brenda that she would try to have the money expedited.  When she called me back she said it was being sent out that day by US mail.  They were paid to perform a service and they only make the payments once a month instead of every 2 weeks like their website says.  They are making money off my money and now my car payment will be late because of them not doing what they say they do.

This is from their website "The Equity Advantage Program is a bi-weekly program that has helped thousands of consumers pay off their auto loan faster.

By just paying half of your auto loan payment every two weeks, you end up making 26 half payments a year.  That adds up to a full extra payment each year.   This extra payment is totally applied towards reducing your principal balance.  The amount of interest this saves you, over the life of your loan, is simply staggering."  

BEWARE THEY HAVE CAR DEALERS SIGN YOU UP AND YOUR ARE UNDER THE IMPRESSION THEY ARE DOING WHAT THEY SAY UNTIL YOU CONTACT YOUR LENDER.  ALSO THE DEALERS MAKE A COMMISSION OFF YOU USING US EQUITY ADVANTAGE ALSO.

Comments

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  • 0
    Rhode Island
    Well it just so happened, that I bought a car last week. As usual I declined everything from gap insurance to paint protection etc. But then the slick finance lady showed me my payment options of which was bi-weekly payments. So I agreed, today I received the "welcome call" and the guy seemed nice enough as he was verifying my information. So I decided to visit there website, that it is when I found out for their service of making my loan payments there is $399.00 fee plus the recurring debit fee of $1.45 , In my case this would be a $487.45 additional cost to my loan. This would truly be an additional cost as I never keep cars for more than (2) years. I have purchased (9) brand new cars in the last (10) years so the chance of me keeping the car for the full term would be doubtful. I have contacted the Dealership and they told me that I can call to cancel it.  
    US Equity Advantage phone number 800-894-5000 or 407-897-8688. I'll post my results after contacting them tomorrow.
  • 0
    paul
    they took my payment and $27.60 more each mo. and paid every mo. not bymo.=$1400 in 4 years so far just found this out today
  • 0
    Blanca D
    This is a complete lie. Equaty advantage deduct every two weeks from my account and pay once a month on my loan for two years. But never paid any extra money to the principal, they take the money is a feed $399 dollars. I will report them to the BBB, news and any social media they I know.
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