G. O.

Review of Mid Atlantic Finance Co

I process loans and deal with a lot of subprime le...

I process loans and deal with a lot of subprime lenders. Mid Atlantic has been one of the worst I have ever dealt with. They re very unprofessional. I submitted a deal with them and they approved our customer but wanted a GPS installed in the vehicle. After the gps was installed, the car started to have electrical problems. I don t know why. Maybe it was the GPS itself or the way it was wired( which I doubt. This isn t our first time installing a gps in a vehicle) Our customer was from out of state so we had to make sure we had everything we needed before they drove off the lot with their car. We reviewed the buyers order multiple times, along with the rest of the paper work, signed everything as they instructed and overnighted the packet. Joshua Steiner, our assigned rep, said everything was ok and funding takes a few days to process. A week goes by and we didn t get funded. I contacted our rep and he told us we were missing a signature. Our fault, I understand but you d think we would get notified right away. I send the document signed and they told us to wait to get funded. Another week goes by and nothing. I contacted the rep and they said they need another signature and an interview with the customer. Also they told us the gps didn t have a signal. We had the customer come back to our lot to fix the gps and had her sign a few docs in case they would need more signatures. Our customer drives off and we re told we have to wait to get funded. Another week goes by and still nothing. I contacted the rep and he tells us the signatures are a copy and they rejected the document we sent. We went back and forth and they pretty much tells us that we re lying and we have to have our customer come back to sign everything again. How EMBARRASSING and UNPROFESSIONAL it is for us to call our customer back into our lot again. Our rep sends back the whole packet back and asks us to sign it. Then we have to wait for funding. Another week goes by and we re told that we now need to get another paystub from our customer and they need to conduct another interview because the application and paystubs are now more than 30 days old and the paystubs. Extremely unprofessional. The application and paystubs expired because of their lack of communication and they rejected an original Document. It s ok if we re missing signatures and so on, but we wouldn t have known unless I contacted them.
After conducting another interview with the customer, we re told that the customer doesn t want to move forward with the deal because the car had cut wires and it was vandalized. We weren t funded.
I contacted our customer to understand what was going on. Turns out the gps they wanted installed in the car was interfering with all signals and the car had stopped working. Everything was fine mechanically. But electrically, it wasn t.
The customer decided to return the car. We took the car back.
I feel like we lost money and our customer lost money as well. We signed the title over and had listed them as lien holder so we had to order a new title, our customer wasn t happy at all. We understand. I almost think if they didn t require a gps to be installed, the car would ve been fine.
We let her drive away with the car because THEY APPROVED her. She did everything we asked her to and was so patient with everything. I feel really bad that ultimately, she s the one that lost the most and it s not her fault.
This lender made us look SO unprofessional. We won t be doing business with them. They re Terrible!!
I hope other dealers read this!!