Consumer Portfolio ServicesConsumerAffairs Unaccredited Brand
Keep an eye on your inbox, the lastest consumer news is on it's way!
I strongly urge you to never use this company. They are going to rob you blind and then take your car when you have about five payments left without notifying you. We had less then perfect credit and were told that we had no other option but to go with them. The interest rates are sky high and they apply all your payments to it before the principal amount. We purchased a Nissan Sentra in 2012 for a little over 17,000. It's 2018 and we were to be finished with our payment in September roughly. Last month we woke up only to find our car gone with no notice and them saying we still owe over 11,000. Our monthly payments were that of a one bedroom apartment in a rural area. We have paid over 30,000. They are rude when you call and will not work with you for ANYTHING.
We tried moving our payment due date to mid month so that we would not be late only to find out that we had called back in and changed it back to the start of the month. Why would we have done that... We did not. They will call you nonstop. Even if you make your payment they will still call you the very next day along with everyone that you listed as a reference. It is so embarrassing. We are currently collecting all of our bank statements proving when we paid and how much.
WE know we won't get the car back and that's fine. We don't need it seeing that we bought a car outright and own it with no payments with only a fraction of the mileage but we will be seeking out the money that we have overpaid. Ride the bus, use Lyft or Uber, but don't go with these crooks. We did the math and in our area. You can rent a car for 3 weeks for less than what our payments were. Save your money and buy a used car outright. This company should not be allowed to operate.
I set up recurring payments to confirm there would be zero issues. I still have had issues since my first payment. My 1st payment was returned, but never taken out. I called twice (in worry of all reviews I've read), telling them the money hasn't been taken out. Was told, "No worries, everything's fine." A few days go by and a returned payment letter comes. What! 2nd payment was now declined. Money's there, account number is correct. If I pay with a person I get charged a 3rd party fee. Wth. Why? This isn't my mistake! I don't know what to do. Any ideas?
Their customer service is garbage! Nobody knows what the next person did, so you always have to repeat things. They either lose or never get the information you send them, of it's more than once. They harass people you know when they can't reach you, even if you give them the specific times you are available. They are simply not the easiest route or logical route to go through. When I left the car lot I was told they had everything they needed, days later I'm being harassed and highly annoyed. I have set up autopay since the day I drove off so they know they will get $ yet they still are tediously calling. Gave my bank/payroll statement already but they call for it like every day! This company is just not competent, AVOID AT ALL COST.
I have been dealing with this crazy car loan for about 3 years. Anytime I change payment, even if not late, they get mad. Also, I am behind so called to make arrangements to make current and 'Sheree' was super, super rude!! Asked more questions than my mortgage company does saying, "Well why can you pay the next 2 wks instead of 1 month," etc. I've had 1 person at this company treat me good. They shouldn't be in business! Next phone call I am recording!! I have several 'normal' loans and they do not treat me rude or with disrespect! No matter how bad you want a car, don't go with this crazy company!!!
I have had my car for over 2 and a half years already. Didn't have the best credit when I bought it and this was the only way I could get a vehicle. In the time I have had it I made a few late payments the first year. Harassing phone calls non stop. No late payments since and family and friends still get calls harassing them. I have also paid 36 payments of $384.99. That's $13859.64. For a $14275.34 loan. And yet after 36 payments I still owe over $9000.00!? I get there is interest to pay but even with the $5047.80 already paid in interest it should still be lower than over $9000.
- 1,139,912 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
For more information about reviews on ConsumerAffairs.com please visit our FAQ.
I purchased my 2016 Corolla in October 2015, I went to trade it in for a newer vehicle and they tell me I owe more than what I purchased this car for... How does this happen??? This company is a rip off and now I will never get out of this loan. Even when I tried to refinance it through a different company they told me I owe 230% over what my car is worth... Something needs to be done with this company. They are taking advantage of working class citizens who work hard for their money. I am officially going to find an attorney to check into this corrupt company.
I purchased a 2013 Nissan Cube from a Nissan dealership back in 2014 for a good price. CPS was my loan provider and, for a while it appeared as if they offered great service. However, recently my car was almost repossessed by them because they reported I was 5 months behind on my payments. I challenged them on these accusations by calling out my confirmation numbers on payments that cleared my bank account from September through December. They came and took my car and upon further review, they finally admitted they routed my account to the wrong department. I only had to reinstatement fee to get my car which I do currently have right now.
They also found out the five payments I made from September through December were indeed cleared and verified. I lost my job being out without my vehicle for 2 weeks because of their gaffe. These people have shown their true illegal, illicit, and incompetent business practices to be evident. And they're not accredited by the BBB either. Plus, they were already nailed for $5.5 million in fines by the FTC for these same malpractice deeds. If there's a way I can make these scumbags eat my loan and get my bill-of-sale please let me know. CPS is truly criminal, deviant, and should be put out of business for good. They are scavengers, and their customer service is the worst I've ever dealt with. DON'T GO TO A DEALERSHIP THAT DOES BUSINESS WITH CPS! YOU WILL BE SORRY!
I bought my car in April 2016, they didn't actually make me make a payment until August 2016. It was 10 percent interest rate. After a year I decided to trade it in and when I got the pay off balance it said I owed almost as much as I financed it for with no reduction of payments. I kept the car because no one would take it as a trade in because I owe to much money on it. I tried again this weekend and I again I got the pay off and it was 1400 more than it was last year. I called and they told me I missed a payment, I told them no way because it gets deducted out of my check, they argued with me, telling me that was not true and that I missed 3 consecutive payments. I have proof through my paycheck that I did not pay late. No one will give me even close to what I owe on it (Kia Soul). I will never ever get financed through them again.
At first while making always on time payments and paying more towards the monthly payment I noticed the interest going down and more going towards the principal but then I’ve noticed the last two payments out of nowhere the interest went up tremendously after 7 months of completely on time payments. I HAVE NEVER BEEN LATE NEVER! Everything was fine the first 5 months and then this! They have been sued for doing this to people and I am already looking for an attorney. Anyone that wants to join me can let me know. I’m done with this company. I will never get out of this at this rate.
I hate this ** company. Don't get a loan through them. They take more than half your loan payment every month and pocket it. Then apply to the balance of the car loan you truly own. It's hard to refinance your car (which they don't offer of course) loan. You're several thousand over what the car is worth (I tried) and you'd have to get gap insurance which increases for car insurance monthly...to cover your car trumped up worth. You can't pay online for a current month (on same day). It has to be set up a month ahead or suffer late charges which don't reflect the same on their automatic call in service which is another $12 charge which they claim from a third party which collects and the recording will tell you they get a portion of the fee as well. Greedy...these are "loan sharks".
If you look them up online their rating is 1 star. If you read other stories about people whom have loans with them their stories are nightmares. No one praises them or has a great experience with them. If you pay by automatic services their charge is one thing. You go online it's another charge. Either way is more than what the car is worth and they will get you. Do NOT DO BUSINESS WITH THESE FOLKS. I PRAY THEY BURN TO THE GROUND.
This is a looney tune operation here. They lose checks and even lost a check from my insurance adjuster. They don't return calls and love to ** you of your money. I would not know why anyone would even attempt to ask these crooks for money. They take their sweet time reporting to the credit bureaus. Please DO NOT USE THESE CRIMINALS!
I have been dealing with this company since 2014. I find them very flexible and easy to work with. I have had a situation where I changed jobs and had was able to get them to change my payment due date. When I was out of work for a whole month due to being sick they gave me a deferment. The things is if you even suspect you’re going to be late call them before the due date. If you’re having problems making a monthly payment they will accept bi-weekly.
This company is a fraud and will ultimately wind up hurting you. I was solicited by them and provided all necessary documents and was sent a finalization and approval letter. They had me pick out a car and insure it and told the dealer they were overnighting a check. Never happened! I also had sold my used car (after I was told I was approved). Out of nowhere I was told I was turned down for lack of proof of address! The home is on my credit report and I supplied a utility bill that they verified!!! I was left with no car and they refused to take my calls or call me back after numerous messages. STAY AWAY. YOU HAVE BEEN WARNED! Just look at all of the other reviews.
I just purchased a car from LAcarGuy one week ago. CPS called all my references yesterday which I don't have a problem. The issue I'm having is that I have drove off the lot with this car and now they're coming up with some ** saying they can't finance my car now. What kind of company is this running. I called the dealership with the information I'm getting from CPS and they are telling me the that CPS hasn't told them that and if so they have another finance company for a back up but it's all a **.
When we was going over the phone interview with CPS all the information and some phone numbers was disconnected. Nothing I gave them was disconnected like my mom's number, work number. I'm very upset I haven't gotten out of bed cause I'm so upset and disgusted with the matter. I understand my credit wasn't great but I explain that to the sales guy who was doing the paperwork. Someone definitely needs to get this company out of business cause the way they do business is wrong and misleading.
Only $21.20 was applied to the principal of my loan for this month. I paid the balance of $125.64 for the month of April 2017 - but then CPS demanded another $100 stating the payment was not complete and late. I had paid an additional $100 in March. I want this matter to be reviewed by someone who has the authority to make decisions. I am being misused and this practice is unfair. My money should not be going only to interest. What kind of company/business/organization is CPS? I needed a loan to purchase my vehicle and I agreed to this high interest and I have made my payments. But this practice of claiming almost all my payment to interest is an outrage.
My husband lost his job in Dec 2016. We could no longer afford our vehicle thru CPS so I ask them to come and get it. Today is 4-15-17 and this vehicle still sits in my driveway with no payments made since Dec. 2016. CPS continues to send me letters offering to defer payments which I decline. I can't afford the vehicle and deferred payments are only going to increase what I owe in the end. CPS sends me a letter telling me they have given me a due date change as requested. Problem is I never made such a request.
They moved my payment due Dec 15th to Jan 15th. Sounds like a deferment to me, which I clearly rejected time and time again. Given CPS's shady past, I reported them to the FTC. FTC followed up with them and CPS agree to waive all late fees (were none). I'm wondering if this is why this vehicle continues to sit here after multiple requests to pick it up. The response I receive from CPS is these things take time? My intentions are after they repo to go to court and fight the balance owed and reference what I believe are less than legal business practices. Can anyone provide any insight or information on this?
I purchased a 2013 Dodge Challenger through a dealership where they had got me approved through this company. I put down a great amount of cash and drove off the lot with my brand new car. A month later I receive a call from the dealership stating that they will have to find another bank to finance my car because CPS decided not to go through with the loan because one of my jobs wouldn't be considered a real job... you talking about highly pissed. I'm like first off why a whole month later. But after reading these complaints I'm glad that it didn't work out, this company is a piece of **, and not only did they do me like that, the dealership stated that they have done tons of their other customers like that. This shouldn't be legal at all. I recommend nobody to use this company for financing. I know sometimes we get happy just to be approved and often take what we can get, but this company is not the one.
Was trying to buy a good used vehicle from Erwin Chrysler, Dodge and Jeep for my wife and these guys ended up being the finance company that came through with the best APR, term and monthly payment considering our credit isn't the best after hitting a hard patch a few years ago. We put down a pretty decent cash down payment, everything was good, or so we thought, and we drove her 2010 Jeep Grand Cherokee off the lot. A week later, CPS calls and wants my past 2 years W-2's, cancelled payroll checks for the pay stubs I gave the finance guy at the dealership and a signed 4506-T so they can view my tax returns.
I told them W-2's no problem, the tax returns ok but don't understand why, the cancelled payroll checks I don't have access to and there's no way my boss is going to give a copy of those out considering they have account and routing numbers on them. So I email the W-2's the same night as they requested them, because I have them handy and the 4506-T I was still considering. Next day I get a call from the dealership saying that CPS killed the deal because my W-2's were fraudulent and they were ordered or printed from a website that is known to provide fraudulent financial documents and furthermore my paystubs look like they were printed on a word processor.
Now let me say this, I work for a small family owned company that only has about 6 employees including myself, yes my paystubs are originated and printed using MS Excel and my W-2's are your "run of the mill" looking W-2's not printed on perforated paper with fancy logos or anything like that. I have financed 2 other loans in the past 9 years including a $22, 000 truck loan with Ally Bank using the same documents I provided CPS. I may be several things but a liar and a fraud I am not. CPS you can kiss my ** and next time you decide someone is providing you fraudulent information why don't you pick up the phone and call the employer or even better, look up the employer identification number on the documents and see if they're real or not. Buyers beware, seek financing elsewhere!!
We have been with this loan company for 2 years. The moment you are an hour late with your payment the interest rate goes up. Whatever payment you make all goes towards interest, hardly any payment goes towards your loan. We set up automatic payments that never went through on their end. Don't know why this system doesn't work but don't bother trying. Trying to talk to their people is a dead end. Nothing but rude, arrogant individuals. You have a better chance of committing murder and getting away with it than having them work with you towards your payments. If you have another loan option take it. Do not go with this company. You end up and triple of what your car is worth or what your loan was originally written for. BUYERS BEWARE!!!
I bought a vehicle while in a ch. 13 (reorganization) and so I felt like I was lucky to get what I could get. I've been paying more each month - like $100-$200 more than the $263 payment. Instead of applying the excess to the loan principle, they apply it to the next payment. So here in February of 2017 I don't have a payment due until November, theoretically. But the idea of paying more each month is to pay down the principle. CPS says the fine print in their loan document does not allow for "early payoff". In addition, when I get my payment coupon each month - they don't give you a book, they send you a bill each month, which is MUCH less cost effective - in large bold letters at the top it says ACCOUNT OVERDUE and in the column next to "Past due amount" is what they tell me the amount I've paid into the next payment. None of this makes any kind of sense and blasphemes the very nature of corporate ethics.
Ok to start off I've had nothing but problem after problem with these so called people. I called to pay off my loan today. Before I called I requested a pay off amount online. When I call the price was totally different. She said they charged me 215 in interest from Feb 19 to the 21. Wow that's a lot. Then she told me I needed to pay all of it and only on the phone which I would of has to pay 12.50 twice. That's ridiculous. They have always been very rude and unprofessional with me. They say one thing and do another. Back in July the lady processed my payment 50 cents short. They called and yelled at me like it was my fault and like I never made a payment at all. I'm so glad to be done with this pathetic company. I would not send a cockroach them. Thanks for the rip off. Also do not use Hollywood Motor Company. They are the ones who got me in with CPS and sold me the car that had nothing but problems from the start...
Ashley and Eileen in customer service - We recently used this company for an auto loan and it was complete chaos. Firstly, their customer service reps are extremely unprofessional. The supervisor "Eileen" is the most passive person I've spoken to there out of FOUR reps. She had the highest title. The company is unorganized and claims they could not confirm my employment. However I answered the monitored and recorded phone call in which my employment was verified. The company also stated I had no proof of insurance when I use AAA and had to use the insurance on the new car I have just last week from a blowout. I have been a gold card member with AAA for 8 years. Not that hard to verify. Not at all. Anyway, if you can avoid using this company I highly suggest it. They're extremely unorganized and unprofessional.
Hi. I was wondering if you can help me. I have a 2012 Nissan Sentra S. I did not pick this car. The deal told me I had to come up with more money. After putting over fourteen hundred down they said to get something else. I would have to come up with another grand so it's two and half years later and I can't trade it in. No one wants it because I owe so much. I have kept the payments up. Now I'm forced to a repo because they won't lower the payments.
I missed a month because of some personal reasons and before I realized it, I was already 30 days past due. The second bill came in and I was like oh crap. Anyhow, I said, okay, next paycheck I will play catch up. Nope, I get the infamous 1-800 call. Actually, I think their number was 1-888. Anyhow, the guy over the phone explained that I was 2 months past due, and I said "I know. Can I pay next week on this day?" He said sure. He then said he will extend my payment date out so I won't be late on this second month. He took my debit card info and it was as simple as that. He did inform me to make sure the funds were there, if not the file would have to leave his desk and there was nothing he could do at that point.
I was pretty surprised. Being a subprime auto loan company, I thought I was going to be yelled at and lectured over the phone. Nope. They kept it professional. Better yet, it seems as if the 1st month I was late did not appear on my credit report. =) Fast forward today, and I am back on track and a month ahead in my payments.
Everyone at one point has had or will have to get a subprime auto loan. For those who say the payments are too high, perhaps you should go somewhere else if you have better credit. (Your payment is high because of the interest rate, if you cannot understand how interest rates works, you should wait to buy a car and attend a free financial education course at your local community college or somewhere, never pay for that.) I would recommend this company to anybody since I have had a pretty good time with them.
Back in 2006 I bought a trailblazer through cps financial. I bought one car but I paid for 2. I had down payment and trade in. My payment was 560 a month. Was never late with a payment. I was so ripped off. I found out they are a 2nd financed company. You can't be late with one payment with this. I want some of my money back. That's horrible and they treat you like crap.
My bankruptcy was discharged last month and some money is owed on my 2009 Volkswagen Jetta. I was planning to pay off the car in full using money from a legal settlement I received and then pay cash for a new car. Since the discharge, I have not received a statement or any mail from CPS or any calls from them with the total amount owed. (FDCPA violation?) I made sure that my contact information was up to date so that we could get in touch with each other. Today, they repossessed the vehicle at 4am. I was not even given the opportunity to pay them since they wouldn't tell me what is owed. They just took the car with no conversation at all. I have the funds to pay off this car but now there's a repossession on my credit report so I'm really not motivated to give them anything. The car needs about $5000 worth of work and the check engine light is on. I believe that there's about $3200 owed.
One page on the website says that my payoff amount is $3200 but another says that $8000 is due in October, 2019? Seriously, they couldn't even send me a bill or call me?? So, today I called the Reinstatement Department 3 times and after holding for a few seconds, the system hung up on me EACH time. So, I called back and pushed 1 to get a voicemail box. That was a few hours ago and I have not yet heard back from them. I really can't spend all day on the phone with these people. What a horrible way to treat customers.
Like everyone else. Making payments on time and my balance still does not seem to go down. I was 50 short on one payment and made arrangements to pay it and they still called me like I hadn't paid them anything. They should be sued and hung out to dry. Terrible way to do business. Might as well file bankruptcy because that may be the only way out. Smh. Please don't do business with this company.
My husband and I financed a vehicle through Consumer Portfolio Services post bankruptcy. The interest rate for the auto loan was absurdly high, but what other choice did we have at that time? A few months later (and not one single late payment made), we decided to trade in our vehicle for a cheaper one with a bank that offered lower interest rates. We informed CPS that the vehicle was traded in and that the dealership would be paying off our loan within twenty days. We maintained proper communication with them to avoid any damaging late payments on our credit report. My husband then misses a call from CPS. When he returned the call, after being transferred multiple times, he ended up speaking to a woman who demanded that he give her his social security number. He told her that he did not want to give his social security number, and she continued to insist that he do so.
He told her that he did not have to give it to her, and that he would verify account information another way. She repeatedly said, "Wow" and "This call is being recorded. You know this call is being recorded," in a rude and condescending manner that was extremely unprofessional. After arguing with her for several minutes, she finally verified the account information via phone number, name, address, and last 4 digits of his social security number. My husband then informed her that we had traded in the vehicle and had notified them of that, and asked if the payoff had been made. She said there was no note in the account that the vehicle had been traded. Then she told him he "better contact the dealership and tell them to get them their money soon," in a very threatening tone, that reminded me of some sort of ghetto gangster altercation over drug money.
As soon as my husband got off the phone with her, we called our dealership where we learned that the vehicle had already been paid off that same day. My husband then called back to Consumer Portfolio Services and asked to speak to a manager, which led him to a voicemail box where he left a message. The call has yet to be returned. Had I read the reviews for this company, we would never have used them for our auto loans. They have obviously learned nothing from the lawsuit against them a few years back. Please do not make the same mistake we did out of desperation, and be taken advantage of and disrespected by such an atrocious company.
I have been around the world and back with this company and I am so tired of them! Never once have I heard of a company charging a $300 late fee on an account that is only a few days late or harassing customers every day after a payment arrangement has been set up on their website! This is ridiculous! Please do not do business with this company. They are a rip-off! The interest is awful which has sent the payoff to the roof and now I can't get the vehicle financed through another lender. No one will touch it! I've had my car 2 years and it seems like an eternity already! Please exhaust every opportunity before going into business with them! They are not worth your time and energy! I only regret not reading the reviews before I decided to go into business with them!
This place is horrible... PLEASE DONT DO BUSINESS with them!!! They are trying to charge me 30K for a 14K car that I've paid 18k to. They were sued for doing this before and I think they should be sued again.
Consumer Portfolio Services Company Information
- Company Name:
- Consumer Portfolio Services