HSBC auto finance

hsbc auto finance

HSBC is one of the leading providers of all kinds of financial products and services. Headquartered in New York, this bank has spread its wings across the globe and is the most trusted lending organization. Some of its banking services include savings account, checking account, credit cards and loans.

 
 

Being the third largest bank in the world, it has offered its services to more than 125 million customers. In the United States, it operates under the names of HFC and Beneficial. However, on 2nd March 2009 it was officially announced that the bank would no longer work with HFC and Beneficial. It not only eliminated 6,100 jobs but also created a tense scenario for loan seekers.

In the year 2012, HSBC Bank Canada announced that it would wind up its consumer finance business. This was because, the bank’s consumer finance department did not support its core business growth. However, it was stated that the bank will continue to serve its existing loan customers and will later provide call center support and private label credit card programs.

The same further spread to major states in America such as Florida and California. Due to the major closure of its consumer finance department, HSBC auto loans were processed by HSBC Auto Credit Inc.

HSBC Auto Finance and its Reviews

Customers can apply for an auto loan for used as well as new cars. Refinancing your existing loan is also a good option as the bank guarantees lower interest rates, thus decreasing your monthly payments.

A loan officer gets associated with each loan application, and guides you throughout the entire process. With HSBC auto finance, you are sure to receive more than just financing. You can receive your loan documents via email or ask the loan officer to courier the same. The bank does not charge for shipping.

The first monthly payment, which is due on your auto loan will be applicable only after 30 to 45 days after the closing date. Also, this closing date is only between 0 and 30 days after your recent monthly due date of your present loan. This makes you skip your first monthly payment without any penalty.

However, there are customers who have pointed our several loopholes in the bank’s functioning. Some customers claim that even after paying off auto loan in full, they were unable to find its title. HSBC asks such customers to send a copy of their insurance card and make them wait endlessly.

The customer care department is not efficient in handling customer queries and keeps transferring calls from one department to the other. Borrowers are made to wait in long queues after the loans are processed and are never given a pay-off letter even after several requests.

HSBC Auto Finance Contact Details

You can logon to their website and find a branch nearest to your location. The official customer care team can be contacted Mon-Fri 6 AM – 10:30 PM and Sat-Sun 8 AM – 8 PM ET. You can also call them on 800.975.4722 for HSBC customer service. If you are a premier customer, you can call them on 888.662.4722.

For services in Mandarin or Cantonese call 800.711.8001. The bank’s contact form is available on online where you can send your queries and expect a reply within 2 business days. Their Postal mail is as follows.

HSBC Bank USA, N.A.
P.O. Box 2013, Buffalo, NY 14240

Despite facing a crisis and turbulence in business, the bank is still one of the best financing institutions in the country. It assures you a pleasant banking experience and is sure to win your hearts, too.

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