Magnum Finance, Inc.

Magnum finance is unresponsive to questions about payoff and interest rate I asked them for a pay off weeks ago and still have not received it I did a second request while talking to a rep and still nothingWhat are they waiting for?

I would not trust anything this company says. When I got my suv I was told more then once that at any point I could refinance or trade in my vehicle which was very important for me because I needed a truck for our farm but I supposedly couldn't "afford" it even though I could afford a $750/month payment according to the salesman. So that is what I thought and I got an suv as an interim vehicle and assured I could trade in for a truck in 6 months...after making every single payment on time in full bi-weekly for 18 payments with a 24.99% interest rate, I talked to one of the customer service reps who assured me I qualified to be able to trade in my suv for a truck. She seemed very helpful and nice, she even found a truck that would work for us. We looked at the truck online as the closest dealer to us is 2hrs away.....we decided to go to see the truck in person 3 days later, I talked to the same customer service rep who said the vehicle was at the location, I then checked the website again when we were about an hour away from the dealer, the website said it had moved to another location so I verified with the customer service rep who said she would call and check for us, she did and said it was there so we went to the other location. When we got there we found out she never called, the truck was at yet another location that was an hour away and had been sold already. We also talked to a salesman there who said there is no way magnum ever refinances/trades in anyone before they have paid off 1/3 of their loan amount at least if not half of their loan or more. So basically we wasted almost 6 hrs of our time, gas money to drive there and found out the truth about trading in our suv and getting farm truck which we badly need. I talked to the customer service rep and told her everything we had found out and asked what she was going to do to make things right and she tried to say she never said it was at the first dealer, didn't suggest we get the car, or tell me that we could trade our suv in, etc....and that she would get back to me but I haven't heard from her since and that was a 6 weeks ago. I also called magnum and asked if it was possible to get our interest rate lowered since we had not missed a single payment and 24.99% is pretty ridiculous and they said no they dont do that. From the beginning we should have just walked away, after the papers were signed which the salesman rushed us thru and wouldnt let us read, we found out we didnt have a loan we had a lease which requires us to pay almost $2,000 after 3yrs of payments to keep the suv. The total blue book price of our suv is $8,000 at the absolute highest fair market price and by the end of the loan with the $2,000 lump sum to keep it the suv will have cost us $16,820 in total. We are looking into refinancing with a local credit union. Their website is also a joke, there is no way to view how much you still own, total amount owed, pay off amount, payment history, etc...the only way to get that info is to call them and request it which takes about 2 weeks to get and by then you have already made another payment so the information is no longer current.

This company is ridiculousness.. They treat customers like deadbeats and ies. Their customer service is deplorable and anyone looking to do business with them will find themselves out large sums of money. I honestly do not have anything positive to say about this company and it is a shame that I am forced to deal with them for the next two years.