Bridgecrest is a loan-servicing company that specializes in the management of car loans. The company provides services such as payment processing, customer support, and collections. If you are considering taking out a car loan through them, it is essential to know whether the company is a scam or legit. This blog post will explore Bridgecrest’s history, services, and customer reviews to help you decide whether the company is trustworthy.
What is Bridgecrest?
Bridgecrest is primarily known for its loan-servicing services, including payment processing, customer support, and collections.
Bridgecrest offers support for both new and used car loans, and it provides customers with a range of payment options, including online payments through its website.
Customer reviews of Bridgecrest are mixed. Some customers appreciate the company’s convenient payment options and helpful customer support, while others have complained about the company’s unresponsiveness and lack of transparency.
How does Bridgecrest work?
To get a car loan through Bridgecrest, you will first need to apply for a loan. Once you have been approved for a car loan, Bridgecrest will begin servicing your loan.
The terms of your loan will depend on your credit score, income, and the value of the car you are purchasing. Bridgecrest offers a range of loan terms, including variable interest rates and customizable payment schedules.
One of the benefits of using Bridgecrest for loan servicing is the company’s online payment system. Customers can make payments on their car loans through Bridgecrest’s website, which is available 24/7. Additionally, the company offers automatic payment options, which can help customers avoid late fees.
Pros and Cons of Bridgecrest
Like any loan-servicing company, Bridgecrest has both pros and cons. Some of the benefits of using Bridgecrest include:
- Convenient online payment options
- Customizable payment schedules
- Automatic payment options to avoid late fees
- Support for both new and used car loans
However, there are also some downsides to using Bridgecrest, including:
- Negative customer reviews and feedback
- Reports of unresponsiveness and lack of transparency
- Complaints of fraudulent activity
Bridgecrest BBB Reviews
Bridgecrest has received a mix of customer reviews on sites such as the Better Business Bureau (BBB) and Trustpilot. While some customers have praised the company for its convenient payment options and helpful customer support, others have complained about the company’s unresponsiveness and lack of transparency.
While Bridgecrest is accredited by the BBB and has an A+ rating from the Bureau, their average customer rating is 1.23 out of 5 stars. They have also closed 1,653 complaints in the last 3 years.
The following are some notable customer reviews left on the Bridgecrest BBB profile:
The worst company to deal with, after making on time payments for 5 years, I TRIED to request a payment be deferred to the end of my loan and was denied. They called EVERY single day for a promise payment. Why offer the deferred payment option if you won’t honor it. I absolutely hate this company.
This company is a joke I miss one payment and they repossessed my car and when I called to make the payment to get my car back I’m told I have to pay the full amount on the car in order to get it back. They’re crooks and liars and when you call to speak to someone to let them know what’s going on they lie. I wouldn’t send my dog through this finance company.
The one star is being generous to this company, they only care about the payment even if it is not due. I receive emails on a daily basis requesting payment, updates and confirmations but when asking for my transaction history not once, twice, or three times it still has not been sent to me. Everything you request from this company will be denied, and/or lied to. I asked about my warranty being refunded back to my balance, at first I was told I did not have a warranty (I purchased three at the lot), asked for a deferment of payment was told no because it was not suitable to their standards after I lost my job. I asked for a due date change to coincide with my current pay schedule was told no because I had one on my loan already (do they not anticipate life to come in?). The agents you will speak to are rude, do not listen, or try to tell you what to do with your money. Why not assist the customer ? That’s the purpose of the job working in CUSTOMER SERVICE. It takes an arm and a leg to get anything from this company but that payment reminder will come in. The last representative I talked for the third time about my payment history was the only one that provided decent service but the last two promised it to be sent and I still have not received anything. Bridgecrest will tell you to stay in contact, in contact with you for your money that’s it. Bridgecrest does not care about their customer’s needs.
Reasons why people might think Bridgecrest is a scam
Despite Bridgecrest’s years of experience and seemingly legitimate services, some people believe the company is a scam. Some of the reasons why people might think Bridgecrest is a scam include:
- Reports of fraudulent activity
There have been reports of fraudulent activity associated with Bridgecrest, including unauthorized charges and fraudulent loan approvals. While the company has denied any wrongdoing, these reports have raised concerns among some customers.
- Lack of transparency in the company’s practices
Some customers have criticized Bridgecrest for its lack of transparency in its loan-servicing practices. For example, the company has been accused of not providing customers with enough information about the terms of their loans, which can lead to confusion and frustration.
FAQs
What is Bridgecrest and what do they offer?
Bridgecrest is a loan-servicing company that offers financing for used cars. They work with dealerships to provide loans for customers who are looking to purchase a used car.
Does Bridgecrest have any customer complaints or negative reviews?
Yes, Bridgecrest has received some negative reviews and complaints from customers.
What types of loans does Bridgecrest offer?
Bridgecrest offers financing for used cars, including both traditional loans and lease agreements. They work with a network of dealerships to provide financing options to customers.
What is the interest rate for Bridgecrest loans?
The interest rate for Bridgecrest loans varies depending on a number of factors, including the customer’s credit score, the amount of the loan, and the length of the loan term. Customers should contact Bridgecrest directly to get more information about their specific interest rate.
What is the repayment period for Bridgecrest loans?
The repayment period for Bridgecrest loans varies depending on the length of the loan term. Typically, customers can choose loan terms ranging from 24 months to 72 months.
How can customers make payments on their Bridgecrest loans?
Customers can make payments on their Bridgecrest loans through a variety of methods, including online payments, phone payments, and mail-in payments. Customers can also set up automatic payments to ensure that their payments are always made on time.
What happens if a customer is late on a payment?
If a customer is late on a payment, Bridgecrest may charge a late fee and may also report the late payment history to the credit bureaus. Customers should contact Bridgecrest as soon as possible if they are unable to pay on time.
Can customers refinance their Bridgecrest loans?
Yes, customers may be able to refinance their Bridgecrest auto loans to get a lower interest rate or to change the length of their loan term. Customers should contact Bridgecrest directly to discuss their refinancing options.
How can customers contact Bridgecrest customer service?
Customers can contact Bridgecrest customer service by phone, email, or live chat. They can also visit the Bridgecrest website to find answers to frequently asked questions and to access their account information.
Conclusion
In conclusion, it is difficult to say Bridgecrest is a legitimate loan-servicing company that provides valuable services to customers due to their bad reputation online. The company has received mostly negative reviews from customers on their BBB profile, with many of them accusing the company of being a scam.
If you are considering using Bridgecrest for your loan servicing needs, it is essential to do your research and read customer reviews carefully. There have been reports of fraudulent activity associated with the company.
Overall, Bridgecrest can be a useful tool for managing your car loan payments and avoiding late fees. However, it is important to stay vigilant and report any suspicious activity to the company’s customer support team.
Glossary
- Bridgecrest: A loan-servicing company that specializes in providing financing solutions for individuals looking to purchase a new or used vehicle.
- Loan-servicing: The management and administration of loans, including collecting payments, managing delinquencies, and communicating with borrowers.
- Scam: A fraudulent scheme or dishonest activity designed to deceive or defraud individuals out of money or property.
- Legit: Short for legitimate, meaning genuine, real, or lawful.
- Credit Score: A three-digit number that represents an individual’s creditworthiness, based on factors such as payment history, outstanding debts, and length of credit history.
- Interest Rate: The percentage of the loan amount that must be paid back in addition to the principal, usually expressed as an annual percentage rate (APR).
- Loan Term: The length of time over which a loan must be repaid, typically ranging from a few months to several years.
- Principal: The amount of money borrowed, not including interest or fees.
- Monthly Payment: The amount of money owed each month to repay the loan, including principal, interest, and any fees.
- Late Payment Fee: A penalty assessed for failing to make a loan payment on time.
- Prepayment Penalty: A fee charged for paying off a loan early.
- Refinancing: The process of replacing an existing loan with a new loan, typically with better terms or a lower interest rate.
- Collateral: Property or assets pledged as security for a loan.
- Repossession: The legal process by which a lender takes possession of collateral used to secure a loan, such as a vehicle, when the borrower defaults on the loan.
- Default: Failure to make loan payments according to the agreed-upon terms.
- Foreclosure: The legal process by which a lender takes possession of a property, such as a home, when the borrower defaults on a mortgage loan.
- Customer Service: The assistance provided by a company to its customers, including answering questions, resolving issues, and providing support.
- Transparency: The quality of being open and honest about business practices, policies, and fees.
- Online Account Management: The ability to manage loan accounts online, including making payments, viewing statements, and accessing account information.
- Mobile App: A software application designed to be used on a mobile device, such as a smartphone or tablet, to manage loan accounts and access customer service.
- Personal Loans: Personal loans are financial products that allow individuals to borrow money from a lender for a specific purpose, such as paying for medical bills, home renovations, or consolidating debt. These loans typically have fixed interest rates and repayment terms, and may require collateral or a good credit score to qualify.
Bridgecrest Review
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Bridgecrest Summary
In conclusion, it is difficult to say Bridgecrest is a legitimate loan-servicing company that provides valuable services to customers due to their bad reputation online. The company has received mostly negative reviews from customers, with many of them accusing the company of being a scam. If you are considering using Bridgecrest for your loan servicing needs, it is essential to do your research and read customer reviews carefully. There have been reports of fraudulent activity associated with the company.
