Tuesday 24th of October 2017 09:00:56 PM
I generally do not leave reviews, but this has been a bad enough experience that I am borderline ready to submit a Better Business complaint. I also work for an online lending company, and I know how frustrating it can be to try to satisfy everyone. We very much live in a "need to know now" environment, and I try to be mindful of that when I am on the other side of the transaction (borrower instead of lender). It started out with a slow pre-approval (fair enough, there was a title question on the trailer I was looking at). Then, my rate was much higher than anticipated, and when I questioned it, it took a couple emails and phone call before I got a response.. and even then I was only able to get the information in a voicemail (could never get to talk about my actual credit report). The particular trailer that I bought had a deal where I agreed to let the seller keep it for 3 weeks so she could use it for her last horse show and not be trailerless. So I started this loan process with a 3 week period thinking we would have so much time to get everything finalized well in advance of me picking the trailer up. We had decided (after very spotty communication) that I would finalize the loan paperwork a week prior to pick-up (a Wednesday), but that the papers could be sent to me as late as Friday to still ensure there was time to overnight documents and the proceeds for me to have for that following Wednesday. I messaged several times the week before pick-up and could not get a response. Finally, on Friday, I got an email apologizing for the delay due to power outages (on that day only). I did not get my loan paperwork until 6:30 or 7:30 on Tuesday night the week I was supposed to get the trailer. I had to go in to work to use a computer to print out the paperwork on the day of pick up (was scheduled to take the day off). I then had to pick up the trailer without proceeds, leave title with the dealership, etc. The dealer was phenomenal, so that was no issue.. and I'm sure this happens regularly with people who are buying at the dealership in person all the time. The reason it is so frustrating is that I tried to be proactive and have this all in place well in advance, and likely, because my file had a 3 week window, it was put on a back burner and forgotten. I REALLY want to rate this a 1* review with how the loan funding has now turned out. I was asked to send an email confirmation that I did in fact pick up the trailer, was happy with the condition, and to please send loan proceeds directly to the dealer instead of me. I sent the email as soon as I hung up the phone with SE Financial requesting it. I received confirmation of the email being received. I then received phone calls from both SE Financial and the servicer, First Bank of Indiana. 3 or 4 phone calls total, confirming the funding details (different people from both companies each time). Each time, I said that I already had the trailer and that the dealer was holding the title and funds were to be sent to the dealer. Each time, they said they would verify with the loan officer and get it updated. I got a final call on the day the check was cut, confirming that the check was coming to me that day. I again said, I'm sure it's too late and you've already created the check, but it was supposed to go to the dealer and I had already talked to both companies about it when they called previously. That person then followed up with me later to let me know they caught it in time and the check was going to be sent to dealer as planned. I received a shipping confirmation this was the case. Came home tonight, and I have the check in my mailbox. The shipping label to dealer was never used - now when I click on it, it says "label ready". So it was not caught in time. Now I have to go to the post office tomorrow and pay to have it sent to the dealer and continue to delay funding/titling/etc. Again, I work in a very high volume online lending company, so I know how it can be and how customer perceptions can be a little *off* because they don't always understand how the process works. I can 100% say, this was not the case in my scenario. I am hoping (and sure this is the case) that my file was not the norm, and I did only end up using the company in the first place because of the generous loan terms (longer terms, not better rates), so I was willing to take the headache to be able to have a longer term loan for a cheaper monthly payment. I will not do this again. If I can find another company with comparable terms in the near future, I will be refinancing.