Complaints

This profile includes complaints for Auto Money Title Loans's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Auto Money Title Loans

  3475 Highway 21 Fort Mill, SC 29715-7245

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  Auto Money Title Loans

  128 Anderson Rd N Rock Hill, SC 29730-3335

The complaint text that is displayed might not represent all complaints filed with BBB. 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.

• Initial Complaint

  Date:11/13/2023

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

   
  I am rejecting this response because: Auto Money has no authority to over ride ************** Code that requires that the first contractual agreement that can be made for only 120 days. They illegally write 1(one ) year contracts. The law does not authorize Auto Money to initially write a one year contract. The law requires that a 120 day contract be written initially. Extensions are not automatic under that law. I have signed no contract extension at all, and the contract has been in effect since April of 2023. Auto Money illegally outside of the ************** Statute write as a first contract, a one year contract. This is a void contract under South ************. Auto Money cannot cite to any law that allows them to override the 120 day initial contract that can be made under South ************. This is done to gain more interest than the law allows. Auto Money knows that no one could possibly pay the extreme amount of interest in 120 days. So they write contracts for one year, so that they don't have to sign and renew and extend the contract after 120 days. They don't tell a customer any of this. And Auto **********************'s employees are not authorized appraisers as required by South ************. And they omit the vehicle value from their title loan contracts, and never tell them customer the value of their vehicle, which is what the loan is based upon.
  
  le because they know that under ** Code 37-3-413 the average poor person cannot pay back the high interest loan in 120 days. Automoney files records will show that their title loan contracts aren't written out for the initial 120 days in accordance with ************** Law. And you will find no renewed contracts in their files at 120 days, in which there would be new paperwork for the renewal. I currently have paid Automoney for seven months, and there was no renewal at the 120 day renewal period by Automoney North(***************************). That means that I am under no contract as required by ** law. They are still collecting payments from me. So with no valid contract currently, I have paid $555 over the 120 day period. I borrowed $800 from Auto Money North. However, at the 120 day ***** I would have paid Automoney $740 due to the payments being around $185.00 a month. But that's *************************** and ***** fault, because of their greed to not go by ** 37-3-413 to try to get more money from a year long contract. Return title and $555

  Business Response

  Date: 12/01/2023

  Auto Money North regret the customer's negative experience with its company. Auto Money North is a Supervised Lender licensed and regulated by the laws and agencies of **************. While the customer is correct that "Short-Term Vehicle Loans" are regulated by SC law 37-3-413, the customer's loan is not and does not purport to be a "Short-term Vehicle Loan". The customer's contract clearly states the loan has a 12 month term. ************** law does not require all vehicle loans to be short term loans. In fact loans issued by ************** Supervised lenders, like Auto Money North are explicitly excluded from "Short-Term Vehicle Loans" by statute. The customers loan is not a "Short-Term Vehicle Loan" and is not limited to 120 days. Auto Money North is happy to have a representative talk with the customer to come to an agreement on closing his account, however, Auto Money North has acted in accordance with South ************ and company policy. Auto Money North will have a representative manager reach out to the customer  regarding their account.