1 /5 Lloyd Johnston: I applied for an auto loan and Lendmark was the lender used. I received a call from an agent of Lendmark informing me I had been approved for $42,00.00 a lesser amount than the auto dealer was asking for the used car at $55,00.00. The agent went on to tell me they were charging a 33.8% interest rate. I was like, no!!! I have close too a 700 credit score have an annual income of over 68,000.00 a year, have been with the same employer for the past few years, have financed a home along with a nice Dodge Ram.
This lender must be working with folks who are struggling with credit or other hardships and are in much need and are forced to buy a auto at inflated and outrageous rates. My suggestion for Lendmark would be, when you have a lagitmate potential buyer, work with them and not bother calling with insulting rates and fees!!!