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I have bank with Bank Star One for years and have been happy up until now. I have had several automobile loans and a commerrcial property loan, all paid in full as agreed. I own a small family owned auto dealership that sells classic cars, I have been in business since 1996. I was recently turned down for a automobile loan and the reason was, the Vice president Dave Bear stated simply because the the owner of the bank " thinks corvettes are for playboy's, and the bank will not do a loan for any reason on a corvette! Not because of my credit, nor was it for any other reason. A corvette is GM's Flagship, also it's the only car that holds it's value better than any other vehicle on the market. This was the biggest line of BS that I have ever heard.
I am basically giving this five stars due to their internet services. If you use your ATM card you can view the transaction right away. I mean as soon as you get home you can see your transaction. This is very handy in this day of fraud. Some folks have problems tracking their account (I do not) and if they use only their ATM card this should eliminate that problem. It is also handy to use if you want to transfer funds as it shows up automatically. No waiting. No hassle.
This may be a good bank in some ways but women watch out! If you have a joint account at this bank and your husband wants the account shut down...they will let him take every cent and close things down without letting you know. This is almost cave man days!!
Comments (2)
banks response : I received a copy of your E-mail regarding the the loan on Corvette we discussed. This E-mail appears to be sent out of frustration as You failed to disclosed That I offered to make you a loan either using other collateral or suggested you increase your floor plan with Central. I do not appreciate people not telling the whole story Which will make it difficult to get future loans with us. I hope your business continues to do well Regard, Dave Bear Bank Star One
my response: David, the excuse that you don't loan on Corvette's was a slap in the face. Explain to me how you can loan on a 2000 dodge Viper, but not on a 2006 corvette. It doesn't make any since, I ask to borrow $35k on a $45k car, there was no reason for other collateral. Corvette's are one of the most popular vehicles and they hold their value better than almost any other make/model. It is absolutely rediculous to say you would not loan on such a vehicle. Then you said if you want it at 14% with credit life I would do the loan. If you didn't want to do business with me because I'm a car dealer, you should just have said so. I know your previous banking experience with Woods Auto Gallery was bad and you got blamed for it, that's why your not the president of the bank anymore, but you can't be prejudice against me, I have been an excellent customer, always pay on time and have never been out of trust with your bank. It is widely known that your bank is not doing so well, so most would expect you would jump at the opportunity to loan money to good customers. Instead you suggested I go to your competitor down the street, Central Bank, who takes good care of their customers. I will post your response and mine on the internet, and I have forwarded a copy to the local area Corvette Club that has over 100 active members, I hope this helps your banking.