Wells fargo financial leasing says my new Branson can't be paid off early?? Who does?

[buckeyefarmer]

From 2017, wonder how the op made out?

 

[riptides]

From 2017, wonder how the op made out?

Yeah...his lease is up. LOL.

 

[workinonit]

LOL. I paid zero attention. I won't go back and dig up an old post and I guess I depend too much on others to not do the same thing.

 

[ptsg]

And all of this caused by a spammer that resurrected the thread with some non sense and dodgy links. That post has since been deleted though.

 

[Williy]

When you check out the 0% loans you will find that
the finance charges are listed with all the equipment
that you have purchased and if you pay if off early you
will get a discount on the $2 or $3 thousand dollar finance
charges that's the reason you want to pay it off early!
Any company that says you can't pay the loan off early
is really shafting you and if you try you don't want to
even try its not cost effective just read your contract
then get the pail of vaseline out!

willy

 

[Torvy]

Sorry, but with zero percent on a vehicle purchase, there are no other finance charges that would apply. The only things you would be refunded for early payoff would be related to real estate loans. Even then, it would be things like PMI. You could get refunded on overpaying mortgage insurance (PMI). But, that is not something you see on non-RE loans. The video is a mortgage guy.

 

[Williy]

Torvy, on my loan it has the charges listed for the
6 years for financing but it says 0% finance, my dealer
said if I pay it off sooner I will get some of it back.
And your saying no other charges????

willy

 

[Torvy]

I would have to read the contract. It may be the 'rate' is zero percent but the APR is something greater. APR includes the other costs of a loan that you are charged. This is a form of bait and switch, but must legally be disclosed. Either that or you are paying for some other insurance, taxes or similar fees in your loan. If, for example, you have tractor insurance built into your loan, any overage you have paid would be refunded as the insurance would stop. Usually better to have independent insurance, but there are a lot of variables. So, many people just get it through financing.

 

[workinonit]

There were no "finance" charges on my JD loan. The loan is 0% and if the "finance" charges get added to the cost of the equipment...well that's on the purchaser for not making a cash deal before discussing financing. I don't get why it's so difficult for people to understand what 0% loans are all about. I've had 4 JD 0% loans and never paid an extra penny on my equipment purchase because of the loan. The main reasons I finance any money at all is because of the 0% and the free insurance for the life of the loan.

 

[Frankenkubota]

Wells Fargo are dicks when I talk to them about my mortgage.

They kinda make up things as they go then don't like it when you call them on it. Maybe they are mad that my rate is 2.75% ? I called a couple years ago to ask if they were taking the PMI off soon because we had paid enough on the house- lady said no it doesn't work with this mortgage that way. After arguing I said ok whatever lady. Next month no PMI.

When I first got on a rotating shift I missed my house payment (couldn't tell what day it was ever) so I called to ask nicely if they would take off late fee because I just paid it sorry I forgot. Dude was a jerk said no way. I asked for his boss he said no way it's against policy the computer will not let us do that. I said fine what if I pay next month now too on the phone- dude says uh hold on 5 seconds later, ok we removed it how do you want to pay?

wells fargo is on the list of the worst companies.....on the planet.