My wife Heejin travels to our Texas branches every week and rents a car.
She normally rents from Hertz Gold b/c it is so easy and frictionless – you literally just walk up, hop in the car of your choice and drive away.
But, recently Hertz Gold was ridiculously overpriced b/c of a major event in Austin, so Heejin decided to give Hotwire a try – b/c “a car’s a car after all; what could go wrong?”
Well, first of all she had to wait in line for 30 minutes.
Then they gave her a dirty car with 57,000 miles on it, and it was not even close to the car she was promised.
When she complained, they were shockingly rude and they pretty much told her to go pound sand.Even worse, it was extremely hot that week and the air conditioner didn’t work.
But this is the best part – the car didn’t come with “toll tags” that allow her to drive on toll roads without charge like the Hertz cars do, so her great deal ended up costing as much as the Hertz Gold car.
I would conclude here by saying “you get what you pay for,” but Heejin actually ended up paying the same for her “cheap car” and got much less – b/c she was trying to get a bargain.
I share this story b/c I hear similar stories every week, and it really is a great lesson.
Where do I hear stories like the above the most?
From borrowers who left us for what they thought was a better deal… but there were hidden fees, the interest rate changed, the appraisal didn’t come in, communication was non-existent, turn-times were missed by a mile, service was awful, there were multiple surprises, nothing was explained properly, etc., etc., etc.
“A loan’s a loan after all; what could go wrong?”
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