Ayone ever get a car loan threw wells fargo?

How whas it? did they charge you high interest rates? and where you satisfied with everything?

Can also be capital one bank too.

Ayone ever get a car loan threw wells fargo?

I used to work for Wells Fargo in the call center in El Monte.

Every single call I got regarding an auto loan was a complaint. The majority of the calls were people trying to refinance to go to another company, or pay the car off early so they would be rid of Wells Fargo.

Ayone ever get a car loan threw wells fargo?

I have a well fargo leased car. They're ok. They make sure and call you the last day of your payment if you're late. They're pretty nice about not charging you late fees if you ask them to take them off. The 10 day grace period they give you to pay your loan, whihc most all banks have, is nice.

Ayone ever get a car loan threw wells fargo?

Wells Fargo is one of the major auto lenders in the country. The interest rate you were charged is not necessarily due to Wells. The dealer you went through is allowed to add to the interest rate Wells approved you at. This is the way the fianance person at the dealership gets paid. If he bumps you 2% on rate, he can put $300 or more in his pocket (depending on the term of the loan and the loan balance).

Your interest rate should track your credit worthiness. The prime lending rate is 8.25%, which means a person with good credit should be able to get 8.25% interest rate on a loan. An auto loan is backed by an asset, so there is less risk and the interest rate is typically lower. Your credit worthiness is typically based off of your credit score (rated by a credit bureau - Experian, Equifax or Transunion). Experian is the old TRW which created the FICO score. Good credit is over 680. Excellent credit is over 720. Fair credit is 650. 600 is not very good. Anything in the 400's to 500's is considered subprime (some banks stop at 625). Your interest rate may be high, due to your credit worthiness, but I believe you were still bumped on interest rate by the dealer.

Here is the good news! You can go to a credit union (choose one in your area), open and account and apply for an auto loan. Tell them that you would like to refinance your existing loan. If your credit score is good, you should have no problem refinancing at a lower rate - as long as the dealer didn't overcharge you for the car - if you paid too much and the loan balance is too high, nobody will want to assume the risk.

Good luck and be careful next time you purchase a car.

Greg