Complaints

This profile includes complaints for Caterpillar Financial Services Corporation's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Caterpillar Financial Services Corporation

  2120 W End Ave Nashville, TN 37203-5251

• 

  Caterpillar Financial Services Corporation

  PO Box 340001 Nashville, TN 37203

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:11/07/2024

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I reached out to cat financial regarding a 320 excavator I had recently sold. I reached out to my account rep ***** L and told her I wanted to pay the machine off. She specifically told me she had to wait on her manager to get the paperwork together. That process went on for a number of months and in doing so I was making continued payments on this machine. By the time the so called manager had everything together I didnt have enough to pay off the machine. So I filed a complaint within caterpillar and some guy named Mr ********* texted me back claiming to be the Vice President of cat financial. He did absolutely nothing! By the way he wanted me to make 2 payments that was behind and 2 payments that the months had not even past yet. I explained to him I had $10,680 in which ***** asked for in the beginning and after those payments were made they still placed my machine in repo status.

  Business Response

  Date: 11/18/2024

  Hello, my name is ***** *****, I'm the Customer Relations Manager. Based on notes on ****** ******* account, here are the timelines. It looks like around September/October of 2023, the customer was having some ******************** difficulties. 

  September 2023 - ****** made payments on past due contracts (2 months past due), payments were reversed in October 2023 due to insufficient funds on account. 

  October 2033 - Due to contracts past due status, contracts were defaulted set to be sent out to repossessed. Once contact was made with ******, he again made payments towards past due status on contracts, a few weeks later asked for payments to be canceled/pushed back. Customer still past due. 

  November 2023 - Note from Account **** speaking with ****** about past due status on active contracts, including the 320 referenced. **** received payoff for another contract as customer had sold however the 320 excavator contract was still past due several months. ****** called and spoke to Account **** setting up payments to be drafted, they were returned for insufficient funds. Customer was 3 months past due. 

  December 2023 - Several calls emails between ****** and the Account **** contract modification offered however it wasn't accepted or declined by the customer as he was looking for a refinance. ****** was given past due amount of roughly $16K to pay current or remaining machines/assets will be repossed for breach of contractual agreement. Dwyane mentioned that he may have a buyer for the 320 although it was 3 months past due. 

  January 2024 - Due to contract past due status, accounts were sent out for repossession. There were talks again of a 3rd party purchase and wanting to a payoff. Due to contract being in repo. status.

  February 2024 - Payoff calculated for customer, ***** funds were sent in however yet again returned for insufficient funds. 

  April 2024 - Customer attempts to make additional payments, those payments were returned for insufficent funds (multiple times the month of April)

  May 2024 - Last round of payments made towards past due contract, funds were returned for *** funds

  August 2024 - Customer finally called back and made past due payments, those payments were returned ***. Account was frozen at this time. 

  September 2024 - Customer made additional payments, returned NSF. 

  Basically, Mr. ******* has dragged Caterpillar Financial along knowingly writing fraudulent checks and all this time, not voluntarily surrendering the machine due to breach of contract. Due to many efforts to work with Mr. ******* and all options exhausted, the customer will either need to pay-off the machine or voluntarily surrender or the machine/contract will be sent out to a 3rd party collection agency for repossession. 

  Customer Answer

  Date: 11/19/2024

   
  Complaint: 22524665
  
  I am rejecting this response because

  Mr ********* demanded me to pay a total of 4 months payments at one time. I specifically told him I had the amount for 2 months which was august and September and he wanted me to pay October and November and those months had not come yet! Also even though my payments were a little behind I always managed to pay them and catch them up! Also my account *** and her manager would not allow me to pay off the machine in which also my account *** made a racist blanket unprofessional comment in which I have everything on email and text! Ive seen numerous people on line complaining about this very issue with cat and cat financial. I believe you all did nothing to help me and when I called mr ********* to ask for help he specifically told me there was nothing he could do!! Ive spent a lot of money with cat and I was treated like a nobody!!!  Caterpillar had called me for a number of years trying to earn my business and when I give them the shot they treat me like dirt! Even when I had cat small equipment and it was under warranty they claimed they fixed the issues and when I went to pick up the machine the problems were still there! Now to be completely honest with you I was lied to about my contracts I had with cat! My account *** would tell me I had to make payments on both the 320 and the D1 dozer in order to stay in good standings! You guys ripped me off and lied to me and now your trying to make it seem as if I was a bad customer! Tally up all the money I spent on equipment and then come back and speak to me ! Ive never been treated like this by any other company! You dont care about your small customers or there accounts if you did you would actually help people because if you were in this situation you would want Real Help Too!!  Moving forward I will never and I mean never purchase anything through cat financial ever again!! 

  
  Sincerely,
  
  ****** *******

  Business Response

  Date: 12/12/2024

  Hello *******, I can not opine on what was said or promised between you and Mr. ********** however, due to the status of your contracts/assets, making payments isn't an option. At this point, you do have the option to pay the contract/assets off in full, plus any additional fees. You can contact Caterpillar Financial or your Account **** however at this point mainly attributed to status of contracts/assets, payments for less than full payoff amount plus any accrued fees won't be accepted. 

• Initial Complaint

  Date:08/22/2024

  Type:Product Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am filing a complaint against Cat Financial due to ]a check I was promised for the sale of equipment.On May 13, 2024, I received a call/text from a Cat Financial representative, *******************, informing me that a piece of equipment I owned had been sold and I was owed a $13,000+ check. ************** confirmed my information and assured me the check would be mailed out.Upon returning from a two-month trip abroad, I discovered I had not received the check. Despite multiple attempts to contact **************, I have been unable to reach him.I have attached a copy of ****************** LinkedIn profile for your reference: ***************************************** contract number with Cat Financial is 001-70038113.I am requesting the BBB's assistance in resolving this matter and ensuring that I receive the check I am owed.Thank you for your time and attention to this matter.

  Customer Answer

  Date: 08/21/2024

  Dear Better Business Bureau,
  Thank you for your continued assistance with my complaint.

  
  As requested, I have provided copies of the text messages I exchanged with ******************* from Cat Financial on May 13, 2024 to present. There is no promise of $13,000 via text as this was had over the phone call that happened May 13, 2024. These messages confirm the sale of my equipment and that I am owed a refund. 

  My check never arrived and **** has went from friendly to hostile with me. Also he claims he doesnt know where I got the number $13,000 from. He then retracts and says thats what i owed on my equipment when it went to sale. After asking for documentation he refuses to provide me with it. I then login to get my original contract data which they have pulled. Please watch this video to see.  

  Also another hole in his argument is the sale price. These machines were less then two years old. one was bought for around $70,000 and the other about $140,000. There is no way either of these machines sold for around $15,000. Any expert will agree these machines hold their value very well.

  Additionally, I have attached a copy of my contract with Cat Financial, along with my payment history. This documentation clearly demonstrates that I did not owe $13000 on either of these pieces as **** states. 

  This suggests that he was attempting to mislead me and withhold the funds. To further support my claim, I have included a Loom video recording of me logging into my Cat Financial account. This video shows that they have pulled all of my contract details, indicating that they have access to the information necessary to determine the amount owed.
  It is evident that Cat Financial is intentionally withholding my money. I urge the Better Business Bureau to intervene and ensure that I receive the payment I am rightfully entitled to.

  ****************************************************************************************************

  
  Thank you for your prompt attention to this matter.

  Customer Answer

  Date: 09/02/2024

  To Whom It May Concern,

  I am writing to the Better Business Bureau to formally request the removal of my complaint against Caterpillar. I recently spoke with **** from Caterpillar, and he was able to fully address and resolve all of my concerns.

  Due to ****'s prompt attention and the positive outcome, I am no longer dissatisfied and wish to withdraw my complaint.

  Thank you for your time and assistance.

  Sincerely,

  *****

   

  Business Response

  Date: 09/04/2024

  Hello - we have been in contact with ************** and have been able to clear up any confusion on the account.  He has advised that he will withdraw the complaint. Thanks!