HSBC Watch News Release :: HSBC Auto Finance - Never Use Them

Tue Jul 26, 2005 9:47 pm

After months of continuous, daily (8 times per day) phone calls from this company where the people were unable to comprehend the English language, I finally have my title in hand and feel free enough to post this complaint to anyone and everyone that will listen! This company needs not only a lawsuit brought against them, where they could pay consumers for the hours upon hours of mental anguish they have put them through, but also to be completely shut down...never to be able to do business again in the United States. (After all, almost all of the service reps I spoke to over the years where not here in the US, but in India!)

These people would be told at 8:45 am exactly when they would be receiving the payment and by 10:10 am I would be receiving the second call. the calls would continue until the last at 9:00 pm, when number 8 would be received. This was everyday!!! (I have this documented for months on end) I finally had to get another loan in order to pay off this "POS" company in order to get them off my back. Even after I had sent them the EXACT amount for the payoff they reqested, and they had cashed the check, they still wanted to tell me (in the continuous phone calls) that I owed them some sort of fee now.

I informed that I would be having my attorney contact them, if there were any further calls or attempts to tack on any fees. I then had to call them daily for 4 days in order to get someone who could tell me where my title was. I think I was fortunate that I received my title about three weeks after paying off my loan. I would NEVER do business with this company and would do anything necessary to help prevent them from harassing others. They are the absolute worse company I have ever had any dealings with.

Wed Jul 27, 2005 8:35 am

To Whom It May Concern:

Please find a check in the amount of for payout for MY 2000 Gran-Am.

Please do not EVER try to solicit my business again; I am on THE NATIONAL DO NOT CALL LIST. I found your service to be less than satisfactory.
Firstly, I do not tolerate liars. The person who sold me this loan promised me an interest rate lower than the one I was stuck with.
Secondly, when I discovered you wanted to hold my title, I promptly cancelled my application for this vehicle loan. The person who sold me this loan then contacted me and she promised me you only wanted to photocopy my title and would send it back to me. As you know this was deliberate deception to secure this deal.
With respect to the contact I signed, I cannot be sure and this is only speculation on my part, HOWEVER, I now believe the difference in the interest rate promised to me and the one charged to my contact is because this field was not filled in when I signed the contact, I trusted in the integrity of your company not to deceive me. Once signed of course you would have be able to fill in this field with any interest rate you desired.
HSBC Auto Finance, I discovered is a sub-prime lender with no ethics and of course is a company I will never again consider doing business with in the future.
Let me put it in perspective for you. If in the future I should consider financing a new car and HSBC is the only lender willing to finance it, I would rather walk or use public transit.
You have so soured my new car buying experience that I suspect I will never finance another car. If I cannot buy from the curb with cash, then I simply will not buy. The car I now OWN should last for 10 years or more with proper care. I have to keep it this long in order to get my monies worth with the expensive interest I WAS paying you and your demand for full coverage insurance on this vehicle, almost broke me.
I will be writing to the major car companies explaining why I will never think about buying new again and it is because of SUB-PRIME, PREDATORY, LENDERS LIKE HSBC. I will also post my experience on http://www.householdwatch.com. Hopefully I will be able to discourage others from ever borrowing from such a despicable company like yours.
If I had done my homework and checked HSBC out thoroughly, I would never have given you my business. Live and learn I suppose.
Just a note, the best advertisement is word of mouth, and if I can save just one person the grief and dissatisfaction I experienced with HSBC then I will feel vindicated.
Of course, the ball is in your court now, I was promised a 9.9% interest rate by Joynce (the person who solicited my business), write me a check for the difference, Approximately $300, made payable to me and I may not bad mouth HSBC as I have been doing on the web and in conversations with people who are thinking about financing a new vehicle. This is just a thought of course and one I am sure will fall on deaf ears because of HSBC’s predatory nature.

Wed Jul 27, 2005 8:56 am

And remember last year's quote of the year, made directly by a Household International HSBC employee who was dumb enough to write this in our forums:

—— “The consumers with their complaints are the pieces of s**t that do not know how to manage money. Get an education and use it. Stop buying things and using credit cards. Invest in some real estate and drive a crappy car through your pitiful lives. At least you will retire thinking you accomplished something.” ——

The statement was made in the forums under the category ”Why Not Just Pay Your Bill On Time” which in itself is amazing since Household and HSBC intentionally credited payments late for almost 10 years.

Household - HSBC Watch thanks Bob for the input. Go for it buddy! You make a wonderful point. (Other references to this ignorant employee's quote of the year can be seen using our site search.)

Sat Jul 30, 2005 12:52 am

I FINALLY GOT MY PAYOFF POSTED TO MY DODGE RAM. IT REALLY SUCKS TAT IT TOOK MORE THAN 14 DAYS JUST FOR THE PYMNT TO BE POSTED. I OVERNIGHTED MY PYMNT TO POMONA CALIFORNIA. AND I HAD TO CALL AND CALL TO CHECK IF PYMNT IS POSTED.
CHRIST... DONT THEY KNW THE MEANING OF OVERNIGHT PYMNT???!!!!!
AND BEING HARRASED BY COLLECTION DEPT. HAD TO TELL THEM REPEATLY THAT PYMNT WAS SENT OUT. TO MY SURPRISE, HSBC OUTSOURCE THE CALL CENTER AND COLLECTION DEPT. THOSE *beep* FROM INDIA.. MAN, THEY WERE UNABLE TO COMPREHEND THE ENGLISH LANGUAGE. US CALL CENTER IS NO DIFFERENT. THEY ARE TOTALLY *beep* UP. FINALLY, A CUSTOMER SERVICE FROM MALAYSIA WAS ABLE TO ASSIST ME, EVEN THOUGH THEY HAVE HEAVY ACCENT, THEY WERE HELPFUL AND COURTEOUS. AND ATLEAST HERE I GOT TO SPEAK TO A MANAGER WHO TOOK THE EXTRA MILE TO CALL ME BACK TO INFORM ME ON MY PYMNT.

Sat Jul 30, 2005 1:07 am

BOB, YOU WASTED YOUR TIME MAILING THE LETTER WITH YOUR STATEMENT. IT IS NOT GOING TO BE READ.CUSTOMER SERVICE FROM MALAYSIA, GAVE ME THIS ADDRESS AND FAX NUM. PO BOX 17904, SAN DIEGO, CALIFORNIA, 92177-7904 OR FAX TO 1-866-313-7349 AND ATTENTION TO CUSTOMER SERVICE MANAGER. HE SAID PLACE LETTER HEAD, COMPLAINT.

Bob wrote:

To Whom It May Concern:

Please find a check in the amount of for payout for MY 2000 Gran-Am.

Please do not EVER try to solicit my business again; I am on THE NATIONAL DO NOT CALL LIST. I found your service to be less than satisfactory.
Firstly, I do not tolerate liars. The person who sold me this loan promised me an interest rate lower than the one I was stuck with.
Secondly, when I discovered you wanted to hold my title, I promptly cancelled my application for this vehicle loan. The person who sold me this loan then contacted me and she promised me you only wanted to photocopy my title and would send it back to me. As you know this was deliberate deception to secure this deal.
With respect to the contact I signed, I cannot be sure and this is only speculation on my part, HOWEVER, I now believe the difference in the interest rate promised to me and the one charged to my contact is because this field was not filled in when I signed the contact, I trusted in the integrity of your company not to deceive me. Once signed of course you would have be able to fill in this field with any interest rate you desired.
HSBC Auto Finance, I discovered is a sub-prime lender with no ethics and of course is a company I will never again consider doing business with in the future.
Let me put it in perspective for you. If in the future I should consider financing a new car and HSBC is the only lender willing to finance it, I would rather walk or use public transit.
You have so soured my new car buying experience that I suspect I will never finance another car. If I cannot buy from the curb with cash, then I simply will not buy. The car I now OWN should last for 10 years or more with proper care. I have to keep it this long in order to get my monies worth with the expensive interest I WAS paying you and your demand for full coverage insurance on this vehicle, almost broke me.
I will be writing to the major car companies explaining why I will never think about buying new again and it is because of SUB-PRIME, PREDATORY, LENDERS LIKE HSBC. I will also post my experience on http://www.householdwatch.com. Hopefully I will be able to discourage others from ever borrowing from such a despicable company like yours.
If I had done my homework and checked HSBC out thoroughly, I would never have given you my business. Live and learn I suppose.
Just a note, the best advertisement is word of mouth, and if I can save just one person the grief and dissatisfaction I experienced with HSBC then I will feel vindicated.
Of course, the ball is in your court now, I was promised a 9.9% interest rate by Joynce (the person who solicited my business), write me a check for the difference, Approximately $300, made payable to me and I may not bad mouth HSBC as I have been doing on the web and in conversations with people who are thinking about financing a new vehicle. This is just a thought of course and one I am sure will fall on deaf ears because of HSBC’s predatory nature.

Household HSBC Watch

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