Bad financing company...

Discussion in 'Lawn Mowing' started by mowingtowing, Dec 17, 2004.

  1. mowingtowing

    mowingtowing LawnSite Member
    Posts: 226

    Im prety new here but hope to become a regular. I want to tell my story about my leaf vacuum being stolen and dealing with the loan company; Shefield Financial. Well, my brand new 16 hp giant vac was stolen and I hadnt made a payment on it yet. A couple days later (after trying to get renters insurance to cover it and filing a police report) I was reading my loan agrement and see a line that says "buyer protection plan cost is $0 I do___ Do not ___ want it" It covers incase of death or theft; I wouldnt be responsiable for remaining balence and I would not need to carry insurance on the equipment. Well that line was left unchecked by the people that i bought the vac from. Shefield asumes that since it wasnt checked, that I did not want the plan. WHO WOULD DENY A $0 PROTECTION PLAN??? Needless to say I will never do business with Shefield Financial ever again and I hope that people will think twice before they get a loan through Shefield.
     
  2. out4now

    out4now LawnSite Bronze Member
    from AZ
    Posts: 1,796

    How is it their fault that the guy that sold it to you didn't tell you about it? It's more the salesmans fault.
     
  3. mowingtowing

    mowingtowing LawnSite Member
    Posts: 226

    Technicly i guess its my fault, it says at the bottom of the page "do not sign if there are any blank spaces" Ive tried many times to talk and reason with shefield to no avail. All they cared about was getting their money and not securing a good reference or future customer. They assumed that since it wasnt checked that I didnt want it, but I say I assume that since the cost of the protection plan was $0, that I automatically get it.
     
  4. Kelly's Landscaping

    Kelly's Landscaping LawnSite Platinum Member
    Posts: 4,312

    I think it would be their fault and not the guy that sold it for one reason. What the hell was the line doing in the contract in the first place if the insurance was free why make it optional that’s why its their fault.

    I am not to fond of that company either I was buying 25 k worth of equipment in march 2003 and the guy said why not fiancé part of it so I said fine we could use another 5 k in start up so get us a loan for that. Needless to say I got denied for a lousy 5 k talk about embarrassing. Since then I have bought everything in cash more then 100k in trucks in equipment all paid in full I will not ever give them my business after that over a pitiful 5k their lose not mine.
     
  5. out4now

    out4now LawnSite Bronze Member
    from AZ
    Posts: 1,796

    Crummy techinicality they are playing but if it wasn't checked and they tried to cover it anyway the insurance would see it as fraud. They need to better train the salesman. That $0 insurance cost would be a prime selling point.
     
  6. mowingtowing

    mowingtowing LawnSite Member
    Posts: 226

    When I was talking with shefield I asked them, "so if the line was checked "i do want it" would you cover the cost of the item" and the rep seemed to be very reluctant to anwser. Im just so frustrated that 1; someone stole from me and 2; that I was denied something that cost $0!!
    My main goal with this thread is to make people aware of this crapy thing that has happened to me and to spread the word to think twice about shefield.
    When I sent in my one and only, full payment I included a letter expressing my feelings in a very professional way and hope to get a response sometime soon; wether it be a call, a letter, whatever. I porbably have about as much of a chance of that happening as I do the people who stole the vac bringing it back...
     
  7. Kelly's Landscaping

    Kelly's Landscaping LawnSite Platinum Member
    Posts: 4,312

    Now how did you get your new toy stolen so quickly was it at work or they get you at home?
     
  8. mowingtowing

    mowingtowing LawnSite Member
    Posts: 226

    I had it bolted and cabled with 5/8" cable (master lock cable lock) to the tounge of my dump trailer and was parking it at my friends property where he keeps his trailers, 300' from his house. Guess some low life sob's thought they could either make a good profit by selling my stuff or thought that they could use it more then i could.
     
  9. KINGjosh

    KINGjosh LawnSite Senior Member
    Posts: 531

    I hate that f-ing co. they offered me 17.9% financing on a 3 year loan!
    F-THEM
     
  10. out4now

    out4now LawnSite Bronze Member
    from AZ
    Posts: 1,796

    Check ebay over the next couple of weeks and any pawn shops. A guy here had all of his tree spurs stolen from his truck and found them at a pawn shop, his company name was engraved on everything they took.
     

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