ComplaintsforWise Finance & Insurance

• Initial Complaint

  08/29/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  short_text Complaint ID: ******** Complaint Information Complaint *********** Date Filed:8/28/2024 Complaint Type:Guarantee Or Warranty Issues Filed with:BBB ********************************************* Phone: ************* Fax: ************* Email: ******************************************************** URL: ********************************************* Consumer Information Name:*************************** Address:Po box ************************* Daytime Phone:************** Evening Phone:None Provided Fax:None Provided Email:******************** Business Information Business Name:V ******************* Inc.Address:**************************** Phone:************** Complaint Details I was mandated to purchase a power train warranty upon purchase of used car. Not a problem. The car has been in shop over 2 months and the 2 employees and manager are refusing to allow the claim to be processed even with all documents presented. They have been unwilling to uphold the warranty as an engine is a part of the power train. I have documents and photos which lead the mechic to replacement of engine which is covered. The manager of this company is willing to send a 3rd party out to walk with mechanic again but they are wanting more and more information when in the end it was provided more than once to each advisor I have talked to at the said company. If any documents are needed from dealership/ shop I can provide as far as the vsc company they have refused to give me a copy of anything or audio recording .

  

  Business response

  09/04/2024

  Weve received your complaint dated August 30th, 2024 regarding the *************** Contract (VSC) claim on the Wickhams vehicle.  We are sorry to hear ****************** is dissatisfied with the outcome of the claim. 
  
  To offer some clarity, we do show that the claim has been authorized, for the maximum allowed under the contract terms, at $7500. Our notes on the file indicate the authorization was provided to the repair facility on August 29th. In reviewing the claim, it appears the repair needed is replacement of the engine and the estimate for the repair was approximately $12,500.
  
  The contract coverage that the ********* purchased is a Regular plan, as noted on Exhibit A, a copy of their VSC. This coverage provides basic powertrain coverage as highlighted on page 3 of Exhibit A.
  
  Furthermore, the contract has contract provisions, including Limits of Liability, as noted on page 2 of Exhibit A. Under #2., Aggregate, the limits of liability states; If the coverage selected is Regular, the total of all claims and benefits paid or payable while this contract is in force shall not exceed the price You paid for Your Vehicle or $7,500, whichever is less. 
  
  As noted above, we have authorized the claim per the terms of the contact for the maximum allowed.
  
  Our intent is to administer fast and accurate claims processing in every instance.  If you have further questions please contact ***************************, our Sr. ****************** Claims, at ***************************************** or **********************.
  
  Thank you
  
  ***************************
  Sr. Manager
  Mechanical Claims  

  Customer response

  09/07/2024

  The vehicle was dropped off on July 2nd 2024 and  was just approved Aug 30th 2024

  Be advised all the appropriate information was given from the start and was denied each time approx 4 times that I know of.

  There were 12 calls 3 emails with photos and documents with the letter head from the dealership from my self directly . This was due to the company stating the dealership had not or denied to provide correct information. I spoke directly to *** aka **** who seemed to understand what was needed and it was provided 2 different times. There was ****** who refused to give me his manager name and or transfer me and threatened me with a lawyer if I wanted any information pertaining the case.  Then the manager also was combative in following threw untill I submitted this review.

  This company also stated to me that the dealership was refusing to give information which in fact was a lie as I have had direct contact with the dealership, service manager, service adviser and the certified mechanic. 

  Also the total was $9503.00 not $12500.00

  This means they delayed me having a vehicle for as approx time for repair 30 to 60 days. Which is not a problem if the company would have been diligent and followed threw with thier policy and procedures and worked better not only with my self and a paying customer but also not flasify statements from myself and or the shop where the vehicle was.

  I strongly belive that due to the unwillingless of the company that more should be compensated.

   

   

  

  Business response

  09/11/2024

  We received the additional complaint, date 9-11-24.
  

  In reviewing the claim it appears there were multiple discussions with the shop and customer regarding the failed components and potential coverage. While we understand the delay is frustrating and unfortunate, we do have to confirm the cause of the failure to validate the repair that is coverable by the terms of the contract.
  

  Weve authorized the maximum amount allowed per the terms of the contract and no further assistance can be provided. 

  Thank you 

• Initial Complaint

  03/13/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I total loss my vehicle on January 8, 2024. I have both full coverage as well as GAP insurance. My insurance paid the Cash value of the vehicle to my lien holder. My GAP insurance supposed to cover the remaining balance which totals about $5,000.00 but they are only trying to pay $2,000.00 which is not the contract states. The only item not covered are late charges which I did not have any outstanding late fees. They are trying to deduct refund amount received from my warranties which I paid for. My contract states coverage from the amount insurance do not pay and up to $1,000.00 for insurance deductible. If I pay for a product I expect when I need the service not to charge me the amount I paid for another service. That is my refund, I am not supposed to have a balance, when I have insurance, GAP, and warranty refunds.

  

  Business response

  03/14/2024

  I have received your request for assistance dated March 12, 2024.  Per your request, it appears Mrs. *** is dissatisfied with the outcome of the *** claim for Mr. ******* ****** ***. 

  The *** Addendum is an amendment to the vehicles financing contract executed between Mr. *** and Motor City, and its assigned lienholder, *********** Auto Finance. It is important to note that Financial ********************** (***) is not a party to the *** Addendum, but rather the third-party *** claims administrator on behalf of Motor City.  Ive attached a copy of Mr. **** contract,noted as Exhibit A.
  Generally speaking, the *** Addendum provides that in the event Mr. **** vehicle is totaled in an accident before the loan is paid off (i.e., a Constructive Total Loss), that the Dealer/Creditor (here, *********** Auto Finance) will, subject to certain conditions and exclusions, waive its rights against Mr. *** to collect the remaining amount due on the financing contract after the primary insurance company, selected by Mr. **** pays the property damage loss.  The conditions and exclusions are clearly stated in the *** Addendum. 
  

  Of particular relevance here, the *** Addendum states: DEFINITIONS Outstanding Balance means the amount in U.S. currency required to satisfy or payoff the Financial Agreement as of the Date of Loss. The Outstanding Balance shall be determined based only on the amount You originally borrowed to purchase the Vehicle. Amounts added subsequent to the purchase of the Vehicle,such as but not limited to collateral protection insurance, unearned finance charges, rental charges, taxes, Delinquent Payments, past due amounts, late charges, extensions of maturity, salvage, repo expenses, towing and storage are not included. The Outstanding Balance shall be reduced by any proceeds that could be recovered from the cancelling of any items, such as a service contract, credit insurance, or other similar items, that were included in the Financial Agreement. The Outstanding Balance, at of the Date of Loss,shall be determined by the lower of (1) the Financial Agreement original payment schedule or (2) the Equal Monthly Installment Method, if applicable under the terms of this Contract
  

  After review of Mr. **** payment history, there are numerous months where no payment was applied to Mr. **** account along with a number of late fee assessments that are not covered by the *** Addendum as stated above in the *** Addendum Definitions section. 
  Furthermore, the above Definition does explain that The Outstanding Balance shall be reduced by any proceeds that could be recovered from the cancelling of any items, such as a service contract, credit insurance,or other similar items that were in the Financial Agreement. Review of the Financial Agreement shows that Mr. *** financed a TheftWise Contract, a ******** contract, and an *********** Contract into the loan. Two of these contracts, the ******** and *********** Contract were cancelled for a refund of the contract amount that should be applied toward the loan. Therefore, these refunds, were deducted from the *** settlement amount.
  

  Calculating a *** Addendum benefit waiver amount is rather straightforward.  Pursuant to the terms and conditions of the *** Addendum, it starts with the customers Outstanding Balance on the date of loss.  An amortization of Mr. **** loan gives us $22,004.95 as the remaining balance on the loss date. From that, Progressives payment of $17,025.72 is deducted as well as $1,694.35 for the *********** Contract refund and the $428.48 WiseCare refund. Finally, a deduction due to prior damages in the amount of $843.12 which was taken by Progressive. Please note, this deduction was taken by Progressive and if the customer feels this was in error, they should contact Progressive to discuss that further.  All of this resulted in a *** payment of $2,013.28 which was issued to Capitol One Auto Finance on 3/5/2024.
  

  We've included a copy of the Gap contract with highlighted of the key areas mentioned above.  Our intent is to administer fast, fair claim service in every instance.  After careful review of the *** claim, there are no errors in the calculations.  If there are further questions, wed ask him to please contact our ************* Claims Manager, ****** ********* at *************or ****************************************************************************.
  
  Respectfully,
  ****** ********
  ************* Claims Manager

  Customer response

  03/14/2024

  Complaint: 21424536
  
  I am rejecting this response because:

   

  I spoke with *** on 3/14/2024 at 10:00am who provided me with two separate documents with different totals regarding GAP coverage. This is proof they intentionally deceived their customers and provide false documents. They work with the dealership to deceive customers out of their money. The dealership charge 3 warranties under the same company. ********, *********, and *******. the cost of each were $1,231.00, ******, and ******. Totaling about the amount I receive for my GAP claim 9$2,013). Basically I paid the same as their supposed settlement. I have never heard of any GAP insurance deducting the warranty refunds from your settlement!! I experience a total loss with a different *********** so I know from experience. The page signed was a detail of Cash value and loan balance, no other pages in the contract about offsetting the amount of the settlement by your refunds (Which are the same company, so basically they paid themselves). THEY ARE FRAUDS!!!! the Dealership ********* is a fraud too. I still haven't receive the refund totaling $428.48 but they made sure to deduct from the total settlement.  
  
  
  
  Sincerely,
  
  ******* ***

  Customer response

  03/14/2024

  This is an email from the Dealership we purchase the contract from. The also agree that it does not seem right for *** coverage to deduct your refund amount while you still have a balance on the loan. You shouldn't leave a customer with a balance when by definition its called the *** between your insurance payout and the loan balance.

  

  Business response

  03/15/2024

  We received your additional response along with the dealers email. We are sorry that you and the dealer dont agree with the **************** our previous response we provided the details and specific contract language related to all deductions that were taken. We recommend you review those and if you have any further questions wed ask you to contact ****** ********, our ************ Claims Manager, at ************,or ******************************************************** you 

  Customer response

  03/18/2024

  Complaint: 21424536
  
  I am rejecting this response because:
  

  The contract they provided was not the contract that was given to me. The amount and paper work attach are incorrect and do not have a signature on it. The one provided to the BBB has the signature on it with the correct amount and the document that was receive. This further proves our argument. 
  
  
  Sincerely,
  
  ******* ***

  Customer response

  03/18/2024

  This comes directly from their website. Loan balance minus insurance payout covers what they SUPPOSED to pay. No mention of reducing by your refund you paid with your money. 

  Customer response

  07/23/2024

  7/23/2024 PE Reached out to the consumer via email to determine whether a resolution has been reached or if she is still seeking a refund of $4979.23.  Requested a response either via email or by phone.

  8/20/2024 PE:  Left vm for consumer.  Provided reason for the call, noted an email had been sent to her.  Asked for a call back and provided my name, direct dial number.

  8/22/2024 PE  Left vm for consumer.  Provided my name, direct dial number and reason for the call.  Requested call back.

  8/27/2024 PE Received an email from the consumer but it did not contain any pertinent information.  Emailed her back and asked for her to confirm her desired compensation.  So far, as of today 8/30, no response from the consumer.  Text of email from 8/27:  Good morning, I'm just noticing the message. Okay thank you

  9/4/2024 PE  Left vm for consumer.  Told her that we would be closing the case if we didn't receive a word from her on what she was seeking, by end of day on 9/6/2024.  Provided my name, direct dial number and request for call back.

• Initial Complaint

  10/16/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I purchased gap insurance from them and they are refusing to pay the balance of my loan after my insurance paid out.

  

  Business response

  10/17/2023

  We have received your request for assistance dated October 16, 2023.  Per your request, Mr. ****** is dissatisfied with the outcome of his GAP claim. 

  The GAP Addendum is an amendment to the vehicles financing contract executed between Mr. ****** and **** **** **** of Huntington, and its assigned lienholder, Capital One Auto Finance. It is important to note that Financial Gap Administrator, LLC (“FGA”) is not a party to the GAP Addendum, but rather the third-party GAP claims administrator on behalf of **** **** **** of Huntington.  I’ve attached a copy of Mr. ****** contract, noted as Exhibit A.
  

  Generally speaking, the GAP Addendum provides that in the event Mr. ****** vehicle is totaled in an accident or stolen before the loan is paid off (i.e., a “Constructive Total Loss”), that the Dealer/Creditor (here, Capital One Auto Finance) will, subject to certain conditions and exclusions, waive its rights against Mr. ****** to collect the remaining amount due on the financing contract after the primary insurance company, selected by Mr. ******, pays the property damage loss.  The conditions and exclusions are clearly stated in the GAP Addendum. 

  Of particular relevance here, the GAP Addendum states: ““DEFINITIONS – Outstanding Balance means the amount in U.S. currency required to satisfy or payoff the Financial Agreement as of the Date of Loss. The Outstanding Balance shall be determined based only on the amount You originally borrowed to purchase the Vehicle. Amounts added subsequent to the purchase of the Vehicle, such as but not limited to collateral protection insurance, unearned finance charges, rental charges, taxes, Delinquent Payments, past due amounts, late charges, extensions of maturity, salvage, repo expenses, towing and storage are not included….. The Outstanding Balance, as of the Date of Loss, shall be determined by the lower of (1) the Financial Agreement original payment schedule or (2) the Equal Monthly Installment Method, if applicable under the terms of this Contract…” After review of Mr. ****** payment history, there are numerous months where no payment was applied to Mr. ****** account along with a number of late fee assessment’s that are not covered by the GAP Addendum as stated above in the GAP Addendum Definitions section. 
  

  Furthermore, on page two of the GAP Addendum under “DEFINITIONS – Actual Cash Value at the Date of Loss means, (1) the Actual Cash Value established by the Primary Insurance company… Adjustments will be made for prior unrepaired damage, mileage, usage, condition, applicable taxes or fees and documented Vehicle options and accessories purchased at the time the Financial Agreement was executed.  If it is determined that Your Primary Insurance company did not pay a fair Actual Cash Value and we provide You with evidence obtained in our research, You may be required to contact Your Primary Insurance carrier and request a higher payment.”
  Mr. ****** vehicle had an odometer reading of 184,040 miles when the vehicle was deemed a total loss. Based on this information, Progressive, the Primary Insurance Company, obtained the Actual Cash Value of the vehicle using like kind vehicles that were for sale in Mr. ****** the area of residence. Progressive then took a High Mileage Deduction of $3,731.94.  The GAP Addendum doesn’t cover this deduction, however if Mr. ****** feels Progressive was incorrect in this deduction, he should contact them to discuss that issue further. 

  Calculating a GAP Addendum benefit waiver amount is rather straightforward.  Pursuant to the terms and conditions of the GAP Addendum, it starts with the customer’s Outstanding Balance on the date of loss.  An amortization of Mr. ****** loan gives us $10,110.47 as the remaining balance on the loss date. From that, Progressive’s payment of $14,066.26 is deducted as well as $3,731.94 for the High Mileage Deduction, which was taken by Progressive. This resulted in a No GAP situation based on the data and information we’ve been provided by the customer, lender, and the express terms and conditions of the GAP Addendum.

  Our intent is to administer fast, fair claim service in every instance.  After careful review of the GAP claim, there are no errors in the calculations.  However, if Mr. ******** has documentation that the conditioning deduction has changed, or has further questions we’d ask him to please contact our Sr. Financial Claims Manager, ****** ********, at ************, or ******.**********************.
  
  Respectfully,
  ****** ********
  Sr. Financial Claims Manager

• Initial Complaint

  06/10/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  Pending GAP Claim on Contract: ***************  / ******* ******  / ***************** Hello, Thank you for the emailed/faxed documents for the above GAP Claim. Your claim has been sent to processing! Please allow 9-14 business days for your claim to be processed. Once processed, you will be mailed a full settlement breakdown explaining the outcome of your claim. Regards, The Claims Team Phone: ***** ******** **** ***** ******** ****** **************************  The company Wise F&I is the GAP company insurance we have paid each month on time. When I called Wise F&I on 06/05/2023 I was informed they have 10 to 20 days to process our claim. However, as noted above the email states 9 to 14 days. This will be our claim passed the time frame of 9 to 14 days on 06/13/2023. Even thought USAA, and the contract warranty company has covered the cost of what they were required to cover. The loan is still open with Vystar credit Union. So we were charged a late that will effect our credit scores. Wise F&I please honor this email and your business contract and process our claim for ****** ****** *******

  

  Business response

  06/12/2023

   We have received the customer comments and understand they are dissatisfied with the GAP claim process and timing at this point. When processing GAP claims it requires a significant amount of paperwork to complete the process. To note, we added the last document needed to process Ms. ******’s GAP Claim in 5/23/2023. On that date, we emailed Ms. ****** and advised of the 9-14 business day time frame needed to complete the process. On Friday 6/9/2023 we processed and completed Ms. ******’s claim.  The check will be placed in the mail on 6/12/2023 and mailed to ****** ****** *****. As you can see, Ms. ******’s GAP claim was processed within 12 business days of the 5/23/2023 processing set date. It is important to note that even with the GAP coverage, it is the customers responsibility to continue to make monthly loan payments until the loan is paid in full. We hope this explanation and follow up satisfies the response needed for the customer complaint. Should you require anything further information or have further questions please contact ****** ********, Sr. Manager, Financial Claims at ************* **** **** ** *****************************.  Thank you

• Initial Complaint

  02/09/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  My vehicle was involved in an accident and declared a total loss. My loan balance was $33,092.36 at the time of the accident. Withing a couple of weeks my insurance paid the ACV of $25,457.86. After making me go through hoops Financial Gap Administrator paid most of the balance except $936.39... becuase it was prior damages, I went back and forth with Hill asking why they are not paying that if the GAP insurance covers the loan not the damages to the vehicle. I was told it was in the contract which I didn't see, he would highlight teh "defenition of Actual Cash Value" I am now left with a balance because the Gap Insurance did not pay it all. I really think the dealerships are misleading when it comes to offering Gap insurance. The dealer that sold me the Gap policy said it would cover the remaining balance of THE LOAN, when what is owed is more than the value and that was not the case in my claim.

  

  Business response

  02/10/2022

  I have received your request for assistance dated February 10, 2022.  It appears our customer, ***** *******, is dissatisfied with the outcome of his GAP claim. 
  Please bear in mind, the GAP Addendum is an amendment to the vehicle financing contract executed between ***** ******* and *** ****** **** ******** ***.  (And its assignee lienholder, ********** ****) It is important to note that Financial Gap Administrator, LLC (“FGA”) is not a party to the GAP Addendum, but rather the third-party GAP claims administrator on behalf of ********** ****.
  Generally speaking, the GAP Addendum provides that in the event of a Constructive Total Loss to the Covered Vehicle, that the Dealer/Creditor (Here, ********** ****) will, subject to certain conditions and exclusions, waive its rights against the contract holder to collect the remaining amount due under a Payable Loss. (Exhibit A)
  Calculating a GAP Addendum benefit waiver amount is rather straightforward.  Pursuant to the terms and conditions of the GAP Addendum, it starts with the customer’s Outstanding Balance on the date of loss. From that, adjustments are made using information collected from the loan contract, selling dealership and primary insurance company.
  Noteworthy to this claim was a settlement deduction taken by Mr. *******’s primary insurance carrier. (Farmer’s Insurance) Farmer’s subtracted $936.39 from their settlement due to “Unrepaired Prior Damage” to the vehicle.  (Exhibit B) This is a deduction made wholly by Farmer’s Insurance, not GAP.  This deduction is not covered by GAP as explained in the definition of Actual Cash Value: “Actual Cash Value at the Date of Loss means, (1) the Actual Cash Value established by the Primary Insurance company.  Adjustments will be made for prior unrepaired damage, mileage, usage, condition, applicable taxes or fees and documented Vehicle options and accessories purchased at the time the Financial Agreement was executed”.  (Exhibit A) However, if Mr. ******* feels the prior damage deduction taken by Farmer’s Insurance was unfair or excessive, he should reach out to his total loss adjuster for further explanation or negotiation.  He could also reach out to myself for further clarification of his GAP benefits at claim time.
  Our intent is to administer fast, fair claim service in every instance.  After careful review of the GAP claim, there are no errors in the calculations and nothing further is owed.  If you have any questions, I am here to review or discuss any of the findings.   Please feel free to contact me at ************ * **** ** ****************************

  Customer response

  02/10/2022

  Complaint: ********
  
  I am rejecting this response because: I purchase GAP insurance to cover the remaining loan balance in case we owe more than what is worth, at least that’s what I was told it would do.. what I don’t understand is why does the GAP insurance care about any unrepaired or wear and tear damages as GAP is not covering Comprehensive or Collision coverage. It is covering the unpaid loan balance. And now because of that unpaid loan balance my credit is being affected. In your response you are referencing the Actual Cash Value and how it is calculated, however, nowhere on the contract or on the conditions say it will not cover the unpaid LOAN balance due to wear and tear or minor dents. I believe I met all your terms and conditions and don’t believe this balance is my responsibility.
  
  Sincerely,
  
  ***** *******

  

  Business response

  02/11/2022

  At claim time, GAP does not pay a remaining loan balance no matter what it is.  The GAP addendum has terms, conditions and exclusions for this exact reason.  In the case of Mr. *******, his vehicle had prior damage which reduced the settlement made by his primary insurance company.  GAP is not a substitute for primary insurance and expressly excludes prior damage as stated in the definition Actual Cash Value.  Prior damage is an issue to be resolved between Mr. ******* and his primary insurance company because the GAP benefit does not include paying for prior damage.      

  Customer response

  02/15/2022

  Complaint: ********
  
  I am rejecting this response because:
  I am not going to go back and forth, you keep directing me to my primary insurance company. I have no complaint about them! As they paid the actual cash value of my truck.. what I don’t understand is that, at the time of purchase I agreed to purchase GAP insurance to cover the balance in the event of a total loss at least that’s what the salesman said. Unfortunately it happened, farmers evaluated my vehicle deducting $936.39 due to prior damages… but that shouldn’t affect the GAP insurance I purchased to cover the loan balance. The GAP insurance is not covering any damages to the vehicle. I read all your exclusions and nowhere on there it says GAP dies not cover any prior damages, can you please show me where it specifically says prior damage is excluded. You keep saying the definition of Actual Cash Value, I understand what actual cash value… but you should pay the GAP between that value and the loan. I feel I was mislead and misinformed when purchasing this GAP insurance. I truly don’t believe I should be responsible for a balance when I had purchased insurance to cover that balance.
  
  
  Sincerely,
  
  ***** *******

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