ComplaintsforSnap Finance

• Initial Complaint

  07/08/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I didnt authorize the charges. Someone used my debit card to start taking $38.81 out of my account every week for 5 weeks. It says Snap finance on my bank statement. When I tried calling the # on the internet I couldnt speak to a human. They just wanted to give me medical devices. I went to the bank and stopped payments. Dont know if there is a way to get my money back?

  Business response

  07/10/2024

  We are sorry to hear about the experience ***************************** has had with Snap Finance.?  
   
  We would like to inform you that we take complaints like this with the utmost seriousness. Therefore, we started an internal investigation as soon as we learned about it.?  
   
  Snaps **************** is investigating the claim and is attempting to communicate with the claimant.   
   
  We encourage ****** to contact Snaps **************** for further assistance. ****** can respond to the email they sent them or call us at the number that is provided in the said email.

• Initial Complaint

  06/20/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  Snap Finance is a predatory loan company. Yesterday 6/19/24 I selected the pay in full option and my account was still debited today 6/20/24 for the normal bi-weekly payment. This is a deceptive business practice and they should be ashamed. If you can avoid them then you should do it 100%.

  Business response

  06/27/2024

  We are sorry to hear about the experience *********************** has had with Snap Finance. 
  
  We tried to contact ***** over the phone to provide the resolution. Since there was no answer, an email was sent with said resolution.
  
  If ***** has additional questions about the status of this resolution, they could reply to the said email or contact us at ************.

• Initial Complaint

  06/08/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I was approved ***** from Snap Fiance. I chose the 100 day payout option that way my payout amount would be ***** instead of ********. Every two weeks Snap Finance collected ****** from my bank account towards my one hundred day payout. I worked very hard to meet the deadline in which I called Snaped Finance several times and made large payments to get my balance down. My deadline was 6/5/2024 with three extra extended days at no charge so I aimed for 6/8/2024 to make my last and final payment. On 6/8/2024 I only owed ****** and my funiture would then be totally paid off! I excitedly called Snap Finance on 6/8/4024 to my that last payment of ****** and they made every excuse not to receive the 100 dollars. One excuse was that the system wouldn't take the money because I had a pending payment of ******, which was my regular payment amount but I didn't owe them anymore payments so there should not be anything pending. I had to cancel my card so they would not receive that payment that I didn't owe. My deadline date is now gone and I still owe an ****** final payment. On 6/10/2024 I will attempt to make that ****** payment again and hopefully Snap Finance will not try and make me pay the full term in which at that point I will owe then over five thousand more dollars. I am so stressed about this issue and my anxiety is on level 10.

  Business response

  06/11/2024

  We are sorry to hear about the experience ************************* has had with Snap Finance.??? ?   
  
  We understand that ******* has questions regarding paying off the account with the ******* payment option. We are happy to inform you that we have spoken to ******* over the phone and have found a resolution.  
  
  If ************************* has additional questions about their resolution, they can contact us at **************.? 

• Initial Complaint

  05/24/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I took my car in for an oil change and was told that I needed quite a bit of work done from AAA who really messed my car up a couple months before. ****** Monkey had told me the cost was a little over $1600 dollars for repairs and I dont have that kind of money laying around. The mechanic told me about SNAP and I went head just did the financing, this was back in September of last year. My payments were deducted out of my account every 2 weeks so to make sure I wouldnt miss a payment or be late. The cost of the repairs are paid off and yet SNAP is telling me I have 21 more payments to make and still taking money out of my account!! How on earth I still owe close to $3k is ludicrous to me! How is this company continuing to s**** over so many people especially in this economy where so many of us are hurting financially? Me being one of the many!

  Business response

  05/30/2024

  We are sorry to hear about the experience *************************** has had with Snap Finance. ?
  
  We would like to start by explaining how Snaps application and consummation process works. 
  
  On August 19, 2023, ***** applied to use Snap Finance via our main website snapfinance.com.  After the application was approved and the merchant entered the invoice information, a link was sent to the email address and mobile phone number entered by ***** on the application. The link took ***** to a summary of the Rental-Purchase Agreement. Said summary disclosed the cost of rental, number of payments, amount of each payment, etc. The summary also showed that ***** had until December 4, 2023, to take advantage of the 100-Day Option.  
  
  After reviewing and acknowledging the summary, ***** was asked to review and sign a full copy of the Rental-Purchase Agreement. The Rental-Purchase Agreement also contains the information shown in the summary, and inside a bolded box on top of the first page of the agreement. According to the digital signature of the agreement, the latter was signed with an Apple iPhone device.
  
  We understand that ***** was concerned about the cost of the agreement, and we are happy to inform you we have found a resolution. Our attempts to reach out to ***** over the phone have been unsuccessful. Therefore, we proceeded to send them an email informing them about the resolution.
  
  If ***** has additional questions, they could reply to the said email or contact us at **************.

• Initial Complaint

  05/22/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  December 21,2022 I bought a refrigerator from Appliance Senergy in *******, ********** for $1573.25. I financed it from Snap Finance, ********************. It was a 12 month contract, I paid $200 a month for 1 year. Price for refrigerator. $1573.25 $200.00X12 mon. $2400.00 They continued to take payments I had it on recurring payments. I called them, told them the issue, they said it was a 18 month contract , I said no it was 12 months. I asked them to send me a copy of that contract , they said no problem, I never got it. Then I emailed them, telling them they needed to refund me $200 and stamp my contract paid in full. I call again, the guy told me as we were talking his sending a copy right then, I never got it.They took another $200 this past month. I called my bank to tell them no more recurring payments with Snap, they told me I can pay $35 for that but alls Snap had to do was change the amount by 1.00 and that the payment would go through again. So total for appliance $1573.25 - $200X12 mon-$2400 2X$200-$2800 is what Ive paid They want total to be $3600 NO!!!They arent sending me that contract because I didnt sign one! They are 100% ripping me off, Im so upset that my hands are tied. I would never purchase something for $1500 and agree to pay $3600 NEVER. They continue taking $200 from my bank account

  Business response

  06/06/2024

  We are sorry to hear about the experience ******************* has had with Snap Finance.     
  
  We understand that *** is concerned about the agreement being 18 months instead of 12 months. We would like to start by explaining that *** entered into a Rental-Purchase Agreement on December 21, 2022. Under the rental-purchase agreement, Snap purchases the merchandise from the merchant and leases it to the lessee in exchange for a periodic rental payment.   
  
  December 15, 2022, Rod applied for a rental-purchase agreement at snapfinance.com and the application was approved. During the application process, the nature of the transaction is disclosed to ***. Snap specifies that the customer is applying for a rental-purchase agreement. In order to finalize the rental purchase agreement, The customer had to manually enter the details for the desired merchandise and the transactions total amount. Snap took the values Rod provided and placed them on the rental-purchase agreement.
  In their complaint, the customer alleged that they were told the agreement for 12 months and not 18 months; however, before viewing a full copy of the agreement, They acknowledged the lease summary page, which contained all the key terms of the agreement. On the lease summary page, the customer had the opportunity to again see the nature of the transaction (i.e., that it is a rental-purchase agreement), the length of the 18-month acquisition period, the number of payments to acquire ownership (18 monthly rental payments), the amount of each rental payment, the Cost of Lease, and the 100-Day Option information. The 100-Day Option is one of Snaps early ownership options and it allows the lessee to obtain ownership of the leased merchandise if you pay the cash price of the merchandise plus any applicable processing fee on or before the one hundredth day following the start of the rental purchase agreement. The lessee is required to take the necessary steps to take advantage of it by either setting up automatic payments or making additional payments at their own pace.
  After acknowledging the summary page, *** signed the agreement and obtained access to the virtual card where Snap had deposited to pay the merchant for the merchandise. Without the signature on the agreement, they would not have obtained access to the virtual card.
  On December 22, 2022, Snap sent Rod an updated payment schedule email. This email contained a summary of the terms that were already provided to them.
  We understand that their complaint includes not receiving a copy of the agreement upon request via phone. We apologize for this oversight; however, our records indicate that the request was processed, and the agreement was emailed. Additionally, please note that this agreement has always been accessible through the Snap customer portal and our mobile application, where it can be downloaded at any time by the customer.
  
  We have not been able to reach Rod over the phone or via text. We have sent an email to Rod regarding their complaint and provided information about our ownership options.
  
  If Rod would like to discuss alternative ownership options, please respond to this email with a good time to reach you or call us at **************.

  Customer response

  06/09/2024

   
  Complaint: 21748785
  
  I am rejecting this response because:
  
  Sincerely,
  
  *******************

• Initial Complaint

  05/07/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Automated would not accept my payment for my payoff balance. I think it is a setup on their part.

  Business response

  05/17/2024

  We are sorry to hear about the experience ***************************** has had with Snap Finance. 

  We are happy to inform you that we found a resolution for Normas complaint. Said resolution was provided to ***** when they returned our phone calls.

   If ***** has additional questions about the status of this resolution, they contact us again at ************.

• Initial Complaint

  05/07/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Snap Finance should be responsible for carrying insurance on products you're financing through them. I bought a washer and dryer and the washing machine broke while I'm still paying them for it. I called asking them to tell them them motor went in the machine and basically they it's my responsibility to fix it but it should be theirs because I'm still paying them and I contractually don't own it. I will never Finance anything with them ever again and I will bring media attention to this company for their unconcerned, greedy tactics.

  Business response

  05/10/2024

  We are sorry about the experience ***************************** has had with Snap Finance. 
  
  We understand that Shawneek is concerned about their broken washer and making payments on the account.  
  
  We have informed Shawneek that this dispute has been escalated to Snap's **************************** They will be in touch with Shawneek within the next 2 to 3 business days. 
  
  If Shawneek would like to discuss this complaint or the proposed resolutions, they can call us at **************. 

• Initial Complaint

  05/01/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I bought a sofa from *********. I thought I had 6 months to pay it off. Sofa city does not take Snap Finance. I am paying *****.

  Business response

  05/07/2024

  We are sorry to hear about the experience ************************* has had with Snap Finance. 
  
  We would like to inform you that we take complaints like this with the utmost seriousness. 
  
  We are pleased to announce that we have successfully addressed *******'s complaint and have reached out to them via phone. ******* has acquired ownership of the merchandise after paying the 100-Day Amount and the account is closed. 
  
  If ******* has additional questions about the status of their resolution, they could reply to the said email or contact us at ************.

• Initial Complaint

  04/23/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Car finance for my ******* had no other options and need a car. I Paid ***** on a remaining ***** to be paid off by end of May. If not its a total of *****. I pay 528 a month. I simply cant afford this and to make matters worse the car broke down month 1/2 after a ***** charge and they said it would cost over ***** to get car back on the road safe. I cant even get another car because Im stuck in this payment thats 530 a month. How do I cancel this out so I can afford to live and get a car. There has to be other options.. please help

  Business response

  05/03/2024

  We are sorry to hear about the experience ********************* has had with Snap Finance.
  
  We are happy to inform you that we have spoken with ***** over the phone and have found a resolution.
  
  If ***** has additional questions about their resolution, they can contact us at **************.

• Initial Complaint

  04/23/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  September 7,2023 was the day of purchase of a ******* refrigerator for $******. The sales rep atElite Liquidation didn't explained that I have a certain time to pay off in total. I paid $39.00 and he told me I will be paying ***** each week. There was no limitation of payments information given to me. I signed the sales paper work. But before I signed I clarified what I'm signing and he said all that he just told me. I will be paying ***** each week until I'm paid in full the $******. The finance company was the one who told me what I signed. I sign to pay the total amount by December 15, 2023 at $***** weekly. After realizing that each week my checking account would be off set. I spoke with Snap Finance and requested to pay monthly what I can, when I can. I got approval to do so. My first 2 payments was for $250.00 followed by 3 payments of ******. Yet each time I spoke with someone or call and enquire my balance. It was Never told to me that I am now in leasing mode and the agreement to pay what I can was Never really an option although one of the many reps said I can pay what I can. Each time I received a reminder phone call for payment I would asked what's my balance and I was told the balance remains for the initial price of ******. Even in January 2023. I was told the balance based on what I have already paid from the $******. In March when I made the last payment and thanking the representative for Snap Finance that's when I was hit with a big surprise that I still owe over a $1000.00 but they will settle for a fee to close my account. I was truly misled by the sales person at Elite Liquidation and many reps for Snap Finance. Today ***** a Supervisor for **** said she can close/ settle for $500.00. I am not seeking monetary reward for the distress this is causing. I already paid for the cosmetic flawed and refurbished refrigerator. ***** told me I can send back the refrigerator pay $500 or pay a total of $1855.88.I was misled by both parties.

  Business response

  04/30/2024

  We are sorry to hear about the experience ******************************* has had with Snap Finance.      
  
  We understand that Faith is concerned about the cost of the agreement and the loss of the 100-day Payoff Option.  We would like to start by explaining that Faith entered into a Rental-Purchase Agreement on September 7, 2023. Under the rental-purchase agreement, Snap purchases the merchandise from the merchant and leases it to the lessee in exchange for a periodic rental payment.     
  
  Once Faiths application was approved, a link to a rental-purchase agreement was sent to the email address and mobile number entered on the application. Said link routes the applicant to a lease summary where all the main terms of the agreement are disclosed. It was on the lease summary page that Faith had the opportunity to see the nature of the transaction, the length of the agreement, the number of payments, the Cost of Rental, the total they would pay for the 18-month lease, and information about the cost for the 100-Day Option.       
  
  The 100-Day Option is one of Snaps early ownership options and it allows the lessee to obtain ownership of the leased merchandise if they pay the cash price of the merchandise plus any applicable fees on or before the one hundredth day following the start of the rental purchase agreement. The lessee is required to take the necessary steps to take advantage of it by either setting up automatic payments or making additional payments at their own pace.    
  
  After acknowledging the lease summary, Snap provided a full copy of the rental-purchase agreement, at which point Faith had the opportunity again to review all the terms and required disclosures.   
  
  It is our belief that Snap complies with applicable laws and regulations, and it is our opinion that Faith was provided with timely information that allowed them to make the informed decision of consummating a rental-purchase agreement.   
  
  During our research, we discovered that ***** was aware of the 100-Day Option, and they did not make enough payments on time to cover it. Because of this we could not honor *****'s request. 
  
  If Faith has additional questions about their complaint, they can contact us at **************.  

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩