I financed a used vehicle with Capital One in 2006. Now, about half way through the finance period I am trying to pay off the vehicle. I have never been late with a payment as they auto draft my checking account each month on the 22nd. I tried to make the final payment online... the website is not set up to take any payment over $2,000. I am attempting to pay around $5,500. Toll free call to them as suggested at the website and they tell me there that the website is only set up to take my payment x 3 (total around $606) so even they do not know their own policy. Ok, what are my options at this point? 1. pay them right now on the phone and they will charge me a phone pay fee of $14.95. or 2. they give me a higher payoff that reflects accruing interest over the next ten days and I mail them a check. Funny thing.... it works out (in my case) to almost the same .... accrued interest vs phone pay fee.
I request a supervisor. She is about 19 but, at least she does speak english.... so fluently that she interrupts, talks over.... generally allows me no time to talk. She acts like I am an ***, "well, there is nothing we can do.... interest will continue to accrue.... this is a fact of life that we cannot change for you. But, we will as a COURTESY to you, CHARGE YOU a phone pay fee and save you accruing further interest." I explain that they set the website up to not accept larger payments.... which interestingly enough their regular credit card website will take any payment of any size.... and has for me just last evening...... so they require me to speak with them to pay off my auto loan... it is not something I have chosen to do this way. And it is certainly NOT a COURTESY to charge me to pay off my loan. I also mention that the reason I am paying it off is so that I can finance a new auto in January..... and that if they do charge me this $14.95 fee there will be absolutely no way I will even consider Cap 1 to finance that vehicle. That in effect, Cap 1 will lose $$$$$ interest on my new vehicle over a $14.95 fee now.
She's sorry.... not about the fee.... she tells me that she is sorry that I chose to feel angry about a courtesy she is trying to provide to me. All the while talking with her little squeeky Prozac calm voice. I asked for her supervisor.... and she refused to put them on the phone.
At this point, I am furious. This is a company that to date has treated me fairly. I have both a credit card.... and auto loan with them. Never late on either. Always pay 3x what they ask each month as minimum payment on the credit card.
I have no choice. I will call them back, make the final payment, including their freaking COURTESY FEE.