In Oc 2017 I refinanced a vehicle with Nationwide Bank. I was sent a package to have notarized and sent it back UPS 2nd day air. Got proof of delivery. Nationwide continued to call me and say they did not receive it. They sent a second one and I sent it back. Got confirmation on it. Nationwide kept contacting me saying they need the documents. When I would call them they would inform me that someone signed and got them, but they could not find them. They finally told me they had them but had not been updated in the system. Then on Nov. 20 on or about, I start getting calls and letters that they had not received the title from previous bank. I called previous bank and talked to them and the title was sent to them on Nov. 2,2017. I called Nationwide back to tell them and was told by Nationwide they did have the title but it needed to be put in the system. I kept calling after receiving numerous letters threatening to raise my interest rate from 3.5% to 24.99% if they don't get the title. I received a letter dated Nov. 30,2017 stating they had raised my interest rate to the 24.99% since no title was ever sent. Old payment with Nationwide was $477.00, new payment is $906.19!! I called them Dec. 6, 2017 and asked again why they did that and was told they did have the title but it had not been updated and a supervisor would have to do it but as previous discussed that is why the interest rate went up because they still show no title. As of this date I will no longer have anything to do with Nationwide or it's affiliates. This has been the most miserable experience I have ever went thru. I have contacted another bank and am working on getting my vehicle refinanced ASAP. Shame on Nationwide for the customer service. How legal is it to raise and interest rate to 24.99% on a auto loan anyway. This is bad business. I could have bought a car on my credit card if I wanted to pay that kind of interest!!
Customer Questions & Answers
Did You Find This Page Useful?
Business owners: What’s your side of the story?
Manage your business