AAR-Auto List Of Canada (1999) Reviews (%countItem)
AAR-Auto List Of Canada (1999) Rating
Address: 1590 St. Mary's Road, Winnipeg, Manitoba, Canada, R2M 3W4
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I am very disappointed in the way business is conducted here, *** and the advertisement was false leading. My partner came fully prepared with all documents that were advertised as quick approval even over the phone and pick up cheque as quickly as the next day. NO we applied Friday loan officer was inexperienced. Did not properly inform of the process kept giving us false hope leaving us waiting and waiting finally she emails Monday to say we were approved and to come in so we drove 40 minutes expecting to get our money no instead he was asked to sign loan papers without getting the funds and that he now needed to provide 9 references with full addresses of friends, emails and phone numbers. That is a lot to ask for an invasion of privacy for the references. So we send these in the early am was told all good yet told we have to wait another day for funds really after waiting 5 days already. We have no food for dinner so I wanted to cancel yet I read cancellation to make sure he understood correctly and no if we cancel or get denied before funds are given we have to pay a fee of $740. All because he signed this form before getting funds they *** him and did not explain any of it to him, took full advantage of the fact he is under stress and trusted them to be upfront, honest and transparency as well as treat him like a valued customer but no not at all they do not care. AS is he has to pay over 6628 for a 2000 loan and does not have the choice to pay off sooner to avoid the interest fees. So either we are stuck paying 740 to cancel before getting money or pay 6628.
We appreciate the opportunity to respond to the above noted review.
By way of background, there was no misleading or false advertising done in relation to this or any other loan that we do. We note that this review was not done by the actual customer but by their partner.
When the customer initially applied for the loan it was declined due to their particular financial circumstances. However, senior management became involved in the matter and ultimately approved the loan.
Obviously, this would lead to some delay in the final approval of the loan and the advancement of funds.
In addition, certain of the information provided by the customer was not complete and required follow up by them which also lead to some delay.
As indicated, the loan was ultimately approved and the funds advanced as quickly as was possible given the particular circumstances of the matter.
We also note the review indicates that the customer "does not have the choice to pay off sooner to avoid the interest fees." This is incorrect. All of our customers who are provided with unsecured loans may pay off part or all of the loan in advance without any penalty or cost associated with doing so.
If the customer is unclear about this aspect of the loan, or anything else in relation to the loan we would be pleased to arrange a time to discuss this with them.
They call and email me about topping up my loan, only to force a second loan, ***I had been contacted to "top up" my loan, as I have the best file in their branch and I am a top client, according to Asif. They refused to discuss anything over the phone, only informing me to bring in ALL documents to the branch. I did so and then was told they do NOT top up loans unless you already have 2 open loans with them and proceeded to want to open a second loan. Their interest rate when calculated is over 50%, and it is not clear when signing the papers. When you question it they laugh and just tell you to sign the next page. I have asked them why they are making me pay interest for 5 years on the loan fees, and they just told me the loans fees are part of the loan. I did not receive those funds and do not think I should be paying those back with 5 years of interest on those fees. I have no issue paying back the amount I borrowed, however based on advice from a financial lawyer, I should be asking to have this re-looked at, I asked and was refused and told to take out a second loan. *** rates that are not clearly stated in any papers or through ANY conversation.
Other (requires explanation) I am simply asking for the fees to be removed from accruing interest as they should be a one time fee. I also would like the interest rate of the loan looked into and brought down to something more reasonable, over 50% is ridiculous and is clearly not based on my credit rating. After having no issues with payments for a year or more and being told I am a top client in their branch, perhaps you can stand do something for those good clients.
Thank you for your recent email regarding the above noted matter and bringing this complaint to our attention.
We will respond to the substance of the complaint in the within letter.
By way of background, the complainant had applied for a loan at one of our branch offices in Edmonton Alberta in November 2018.
The terms of the proposed loan were clearly explained to the consumer prior to her entering into the loan.
The loan terms were clearly outlined in the various loan documentation, which were provided and ultimately signed by the consumer.
The interest rate provided for in the loan is 31.90%, not over 50% as referenced in the complaint.
This interest rate is set out in paragraph 10 of the Disclosure Statement which was signed by the consumer.
The loan agreement and Disclosure Statement set out that the loan is for a term of 5 years. These documents were signed by the consumer.
If the consumer is concerned about the length of the term of the loan, we would be more than happy to discuss with her increasing the amount of the payment and reducing the term of the loan to lower the amount of interest that would be paid by her.
The loan agreement also provided for a loan origination fee of $1,100.00. These fees are permissible to be charged and are in accordance with all applicable laws.
These types of fees are generally charged by all subprime lenders, or those who do not typically charge a higher interest rate.
The customer appears to be concerned about being required to take out an additional loan with us. Whether she chooses to do so is her decision. Any communications with her in that regard were simply advice from our staff that if she was interested in another loan, we would consider providing her with one.
*** the APR with respect to this loan is 45.89%. *** Accordingly, the rate being charges under this loan is well below that.
With respect to the desired settlement requested by the consumer we can advise as follow:
1. We are not prepared to simply remove the fees from the loan. The complaint indicates that they are "a one-time fee". If the consumer had been in a position to make a payment to us of $1,100.00 the fee would have in fact had been a "one-time fee". As she did not have the funds available to pay that fee they were financed as part of the transaction. This was clearly set forth in the agreement and agreed to and signed off on by the consumer.
2. Regarding reducing the interest rate, as indicated herein, the interest rate is 31.90% and the APR is 45.89%. All of these rates are in accordance with applicable laws. The consumer agreed to replay the loan with such applicable rates an signed an agreement in that regard.
3. As indicated earlier herein, if the consumer wishes to reduce the total amount of interest she is paying we would be pleased to discuss with her increasing the payments to reduce the interest costs, and there by reduce the terms of the loan.
If you have any further questions, please feel free to communicate with us further.
Yours truly,
Claudia ***
Administrative Assistance
I have received numerous emails and texts to my personal cell phone from AAR and I have asked them kindly to remove me from their emailing and texting lists, instead they have gotten worse.
Filling my email with loan advertisements and even texts.
No further contact by the business I just want them to stop sending their advertisements to my phone and stop with the emails. Thank you
Further to the concerns raised by Ms., I can advise the following:
Through the inadvertence, it appears this individual had been contacted by a number of different staff on a number of different occasions. We have recently acquired a new software system which will assist us monitoring these contacts with potential customers, and help avoid multiple contacts of the same individual.
We have removed Ms. from all of our contact lists, and she will not be contacted again. We apologize for any inconvenience that may have been caused.
If you have any further questions feel free to contact me.
Yours truly,
Claudia ***
Administrative Assistant
(The consumer indicated he/she ACCEPTED the response from the business.)
That is all I kept asking that they remove me from their email/Mail and phone lists that I am not interested - They would not listen, I am satisfied that they will now remove me. Thank you
stalkers.....I decided not to pursue a loan with this company.....they kept calling me....and after I asked them to stop....they won't stop emailing me.....I guess they figure if several different users send me email, that's ok in their eyes......I even went as far as to ask them to delete my information. Obviously they didn't cause I am still being bothered......Guess they are really hard up for business.
Further to the concerns raised by Ms., I can advise the following:
Through the inadvertence, it appears this individual had been contacted by a number of different staff on a number of different occasions. We have recently acquired a new software system which will assist us monitoring these contacts with potential customers, and help avoid multiple contacts of the same individual.
We have removed Ms. from all of our contact lists, and she will not be contacted again. We apologize for any inconvenience that may have been caused.
If you have any further questions feel free to contact me.
Yours truly,
Claudia ***
Administrative Assistant
On May 13 I signed up for a loan with this company. The loan amount was to be $1000. On May 16 I was called to come in to re-sign the papers as I was told there were problems. On May 17 I went to sign the papers but the person I was dealing with was late, so someone else had me sign the papers. The loan amount had been changed to $2500 and I didn't think anything of it at the time. I signed all the papers that she told me to sign and she never went any over anything with me so I thought everything was fine. When I received copies of the papers through email I noticed some things on there that were not explained to me and that I never expected. One was the loan initiation fee of over $400 the other was insurance over $800. When I was emailing back-and-forth with the gentleman I originally dealt with, and then with head office I was told I had several chances to cancel the loan and that I was hesitant and finally decided to take the loan. This is true. But I was unaware of the above mentioned items I would never of taken the loan if I was aware of them. They are included as part of the loan and I am paying interest on them. I sent the papers to my lawyer and had him look into them. To make a long story short it appears that I am paying 61% in total on this loan. The company here in Edmonton now refuses to deal with me they have blocked my email. I have emailed the legal papers to Head office they are just information on what I can do and asked for a reply and have received nothing. I never received paper copies of either long papers and the format of the email seems suspicious to me.
Product_Or_Service: Loan
Account_Number: Loan number
Other (requires explanation) I would like the loan initiation fee significantly reduced as I was never informed of it and if I was told of it on the first loan that I signed for it would have been much smaller. I never received loan papers for the first loan. I also want to know if the insurance is optional so if I had the chance to go somewhere else I can cancel the insurance there so I'm not paying interest on it and also paying what I believe is an outrageous amount. I want to pay off the loan immediately. It is obvious they never went over the second set of loan papers with me as all places where I should have printed my name and the date have been typed in and all that is on there is my signature. I believe this has been mis-handled and I would like this dealt with as soon as possible.
I am in receipt of your letter to Ayehsa *** in our office, dated June 6, 2019, regarding the above noted complaint. I can confirm we have spoken with Ms. and resolved the matter on mutually agreeable terms. I trust this is satisfactory.Your truly,Christine ***
Administrative Assistant
6/20/2019 Complaint: *** I am rejecting this response because: The following is information I was given by the company. I would like to know if it is true. Hello,Thank you for your email. We are not a high cost credit lender as defined by Alberta legislation.If you are not a high cost credit lender, the terms of any credit agreement must be over 2 years in length. The shortest length of time is 25 months. I would like to take the loan out over 12 months to pay it off faster and obviously less interest and they will not let me. Sandra*** 6/24/2019 It took me a couple days because it was the weekend to find the correct information that I needed. This company has misinformed me. There is no law with regards to the length of time for a loan. So I therefore do not accept their terms or whatever and I am not closing my complaint against this company 6/25/2019 Revdex.com: I have reviewed the response made by the business in reference to complaint ID, and find that this resolution is satisfactory to me. Sincerely,Sandra*** I will give them a chance to submit to me a pay schedule as I requested being a 12 month term including the payment I've already made.
6/19/2019 Please see attached 6/25/2019 Hello, Thank you for the response. I can indicate we are pleased to discuss with Ms. any length of term and I will be in touch with her today to do so. Yours truly, Christine *** Administrative Assistant
I had cleared up my loan with a ARR financial on January 19, 2019 in which they told me I would get my insurance money back within two weeks which was almost $3000. And it is now April 2, 2019 and still have received nothing. I have called them weekly and I keep getting a different answer every time I call. Now this is affecting My budgeting
Other (requires explanation) I would just like to have my money back yesterday. I don't know if it's possible but since they collect interest on charging me money monthly I should be able to get interest on the money they Owe me back since they told me two weeks
This letter is to confirm that the above noted complaint was resolved with the customer, Danny ***, in a mutually satisfactory manner. Should you have any questions, please feel free to contact me at your convenience.Yours truly, Christine *** Administrative Assistant Supervisor
This loaner has to explain the interest rates more thoroughly and educate how to lower the payback to save the client money.
Otherwise customer service was okay.
very fast and friendly
Great Service,Friendly girls,fast and easy process. thank you AAR Financial and Davinder
Great Company, They work hard & put effort just to help our concerns and needs.Staff is very nice and Approachable. Dealing with Bad credit is very difficult but with AAR Company,they make sure to help you ease your mind.Their Insurances were very reasonable too. thank you!!
Kulwinder was awesome. She made this experience very easy and enjoyable.thank you for the awesome help!!!
Have a good day today, I understand and clearly to me about my financial status that I had today. Davi is very pleasant and understandable. thank you for making my day wonderful.
its really nice to meet up with Kulwinder and Davi. they really explained every thing and details of the documents that I signed. thanks ladies great job.
Very Friendly and helpful.They helped me when other companies couldn't. I am very helpful with the outcome and cannot wait to have a continuing and positive relationship with AAR.I highly recommend to all.
Great Service and explanation of my loan. Very well explained in details. I was thinking that taking a loan is very complicated and will increase my problems but must say experience is very good and the environment is very friendly & comfortable. Thank you AAR Financial, Ammy and other staff for helping me and make me comfortable.
Quick and Excellent service. I highly recommend to all.
Thanks for the help.
I hope you continue helping others, good luck and god bless.
As last time, it was fast and very kind and friendly service by AAR Loan officers, all staff is smiley and friendly.
I recommend others for quicker loans, I felt its very easy to apply and staff helps for easy documentations.
Thanks to all AAR Marion Staff.
Rei explained about my previous loan and new loan detail clearly and she was really helpful. Thank you very much!
Services provided by the staff are very professional & good . They explain about the loan in details and in a very easy way. I would like to do the business with AAR Financial again. Thanks, Ammy & Rei for helping me.It is really good experience.
Jalpa was great. Called me and emailed me back in a timely fashion and was quick. My forms were ready when I arrived. Exceptional worker.