Equity 4 U, Inc. Reviews (12)
Oct 22, 2019
This company is the worse ever, do not do any business with them. When I bought my car 6yrs ago the car dealership recommend that I have my payments with drawled from my checking account, at the time I thought that would be ok. 6 yrs later my car was paid off in June and they are still taking money out, causing over draft fees which they say they will not reimburse because I should have called them to tell them that my car was paid for. In today technical society they don't have a program that knows when a loan is paid. I should have read the huge agreement more carefully, and remembered to call. When I finally did call they were so rude and nasty about everything. If there is a -5 rating that is what I would give them.
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Took out a loan from a local car dealer they set this up and said I would save money by doing bi monthly payments. I done this be fore no big deal. Except this is a third party company. They were screwing up everything from the beginning. I lost confidence in them almost immediately. They were taking money out of my account before it was due. And not applying it to my loan. I went to my regular credit union to ask about it. Come to find out they hold your money until it's due and were charging me $10 extra on each of my payments or $20 a month more. This was not disclosed. Where I was told making extra payments a month would save me money it was actually costing me more. I'm still waiting for them to return the payment they took out. And I hope they don't take any other payments out they said they would cancel my account. I just hope they send back my payment now.
Your reply Did you get this resolved? I just purchased a car last month and found out this third company is involved. Which I don't understand, the bank my loan is through said they never heard of them and are confused as to why I'm paying Equity 4 U to make my payment plus fees to them? Any advice would be great if you have it? I need out of this third party contract.
Do not ever let this company into your bank account. My auto lender wrote the wrong bank on the application, and even though I submitted the COMPLETE lender information to a rep via email, she never did anything about it, and supposedly sent the money to the wrong place.
I just purchased a used vehicle through a dealership and it was brought up during financial processing that we could "save money" by paying bi-weekly on our loan. This sounded great. It wasn't made clear that this would be through a third party though, or how any of it actually got back to our lender. (fault of the dealer). Today my husband got a call from our lender setting up the account and everything so we can monitor what's going on. She said that our first payment would be in May (next month). UMMM, but a payment already pulled. This was NOT posted to our lender obviously, so where did the money go? I look up Equity 4 U online and try to find out more about what this is, and the website doesn't really give much detail. It says that consumer's have 24/7 access to their account, but nowhere does it give you the option to register. I tried to call the company but have yet to reach anyone in regards to my questions. I see on the website also that they are paid by the "extra" payments that you "save" by using their company. That was NOT disclosed, nor did I get a "welcome" anything that was supposed to come to me and potentially help me with some of my questions. Based on reading customer complaints I'm feeling that this is a waste of time and I will be fighting tooth and nail to get out of this. The website should definititely be updated to actually help your customers out, not just give some vague information and a phone number that doesn't seem to reach anybody.