Wells Fargo(Vent)

**Goat Blower** · 11-08-2007

Never get a loan from WF. Just to name an example, I sold an Escalade to a young guy that worked for WF Financial, he got his car loan from a credit union. I asked him why and he even said they suck for loans. If an employee goes elsewhere, that really tells you something. He also said he makes about $100K/year working in their loan department, at 27 years old. You do the math.

x-pride · 11-09-2007

Quote:

Originally Posted by Goat Blower

He also said he makes about $100K/year working in their loan department, at 27 years old. You do the math.

He is short about 60 K on how much he makes a year. Unless he is upper management at WFS.

Gravy · 11-09-2007

I've gone though school for all my loans... i would be irrate with them for doing that... i wonder what their reasoning would be for that high of a cost on a $5,000 loan.I make with Anoka County Federal, soon to be Anoka Henepin. Good deals on loans, at 19 years old, with a decent credit score, i took a loan out with no co-payer on a 99 s-10 and got 4.5% interest rate. :-D Now i've got 10% on the truck, but what can i say.

Andrew7dg · 11-09-2007

This is why I am working though college and paying as much of it off as I can. Loans can suck out a lot of money. Credit cards are the worst!!!

My girlfriend started taking out loans for her school and just thought it was kind of like free money she could barrow. I started number crunching for her to show her how much it is going to cost to pay them back. She had to go though private banks for the loans and I couldn't believe how much interest was!

Bottom line, you have to look at how much they are charging you for these loans. If thats what you agreed to, thats how much you are going to pay. The only cheap solution is to pay them off early!

Make sure that you are getting the student loan rate. If you are in school you should have a lower interest rate. If you graduated you will have a higher rate. My loan company thought I graduated and started charging me like I was out of school. However I had to prove to them that I was still in school.

I have been told, if you have money, you can make money off of that saved money. If you are borrowing money, you have to pay for that money.
It is how a lot of people become rich and stay rich...