Sierra Auto Finance Lyndon B Johnson Fwy, Dallas, Texas

Sierra Auto Finance Reviews

1.8 stars based on 104 reviews

Featured Comments:

• K

  Kayla Meier

  4.0

  I have been with Sierra since April 2014. I had just gotten my first rental home with my fiance and son and new born daughter. My last vehicle had been totaled and I needed transportation to/from work. I had little credit, I was just secured a loan with our local credit union with my grandfather as a cosigner to help establish credit. I purchased my Jeep from a local dealer and Sierra offered to finance my loan. *** Keep in mind people, this is a vehicle that a financial institution has bought for you from this place of sale and is offering it to you for a price (interest) and that price (APR%) depends on YOUR credit. Therefore if you've screwed up your payment history in the past on another LOAN then chances are the price you are offered will not be pleasant*** With no established credit I was offered an APR% of 14.5. Not great, I know but I was modest about the monthly payment and I READ THE DAMN CONTRACT. I didnt just listen to the salesperson, I sat there for 2 hours reading over and asking questions and clarifying the terms set in front of me. Maybe because I work as collections representative at another financial institute, and have knowledge of these SIMPLE INTREST loans, I wanted to make sure I understood, completely, what I was signing before I signed a contract. As I read some of the other reviews for this company, I can't help but to think most of people financed thru Sierra just needed a car and didn't do their due diligence and read or ask and understand their terms. That fact that most are illiterate to what they were signing. It's sad, its lazy, and guess what...its YOUR fault. For those who still do not understand why you're paying on a vehicle and the principal is not as low as you think it should be, let me tell you why. ** Simple interst means your interest starts from the day you sign your contract. So, if you have 30 days until your first due date then your are accumulating 30 days of interest until you make your payment. Late charges are paid first(if added), interested accrued is paid second (or first if no late charge) then the remainder of your payment you pay will apply to the principal. EXAMPLE: Contract date is 2/12 first payment paid on 4/1. Per diem (depends on your loan amount vs your APR) 10.018 well times that by 48 days and you're paying 480.63 towards interest. If the payment was due 3/19 and paid on it's due date 350.63 would've paid toward interest and the customer would've saved 130.23 in interest. So basically if you want to avoid interest, just go ahead and make your 1st payment when you bought it, don't wait until that first due date and keep paying every 30 days. You will continuously be a month ahead and screwing the finance company out of their "price" Now that I've said all that, Sierra may not be perfect, but they are complying with their end of the agreement with me just fine. In the past 2 years here in NC I have been impacted by 2 major hurricanes and experienced tremendous hardships. Sierra extended payments to the end of my loan so that I would not get hit with a 30 day late payment, because I couldn't pay it! I remember this is a simple internet loan, it accrues daily! Even while I'm on an extension interest is accruing and when I make my next payment it will apply to interest first. So I paid more than my payment to credit my principal what was being lacked by the interest payment. I put myself a month ahead and avoiding that interest once again. I'm now 2000 away from paying off my Jeep. It will be paid off early, and my credit score is at a whopping 757, I was able to purchase a HOUSE with 4 acres of land, a pond, fenced in backyard, barn, garage basically my dream home! Your credit is your word! If you do not pay YOUR debts then these people will call you, they will charge you what you agreed to pay, they will take THEIR vehicle back if you do not hold up your obligations! COSIGNERS, you are just as responsible for the payment as the person you signed for, there is no buyer, cobuyer set obligations they are EQUAL. Thank you Sierra for giving me my chance!

• Q

  Queen P

  1.0

  Did you guys shut down your number is out of service? And I need to pay my car note.????? NEED ANSWERS TODAY PLEASE.!!!

• L

  Letha Jackson

  1.0

  they sold most of their accounts to another company and didnt bother to tell anyone, so when I attempted to make my payment as I do every month, (on line) I got the pop up that said it couldnt find my account. took 2 month to finally be able to connect with the company, because the phone # I had was taking me to the new company, whom told me they have no record of my account. Now my account is in collections and only a balance of $600 out of $22,000... What kind of a company operates like that? I would advise NO ONE to finance through Sierra Auto Finance. My credit suffers their lack of professionalism and responsibility.

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