Vehicle loan or lease -- Repossession -- Complaint #11509111
Complaint Overview
Complaint ID: 11509111
Company: Mercedes Benz Financial Services
Product: Vehicle loan or lease
Sub-Product: Lease
Issue: Repossession
Sub-Issue: Voluntary repossession
State: Texas
ZIP Code: 78665
Date Received: 2025-01-13T12:00:00-05:00
Date Sent to Company: 2025-01-13T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
In XXXX I leased to own a XXXX Mercedes Benz after getting into the lease I later found out that I was soon to be having a child and wasnt going to be able to afford the payments and properly financially provide for my family expenses monthly childcare, rent, insurance, food, clothing unexpected expenses etc. I went to the dealership and voluntarily surrendered the vehicle at that time the sales representative made attempts to put me in another vehicle but unfortunately there wasnt anything they could do considering the budget that I had and income I was earning at the current time. The vehicle was later sold by XXXX in XXXX and was and still is showing on my credit report hindering me from purchasing a home and several other things. In XXXX I reached out to XXXX and made an attempt to rectify the matter and have it removed from my credit report. They told me that I owed XXXX and would have to pay that amount in order to resolve the matter. I offered paying them $ XXXX {$3000.00} to resolve the matter and have it removed from my credit report they then told me the amount I owed was non negotiable that the least they do for me is put me on a 17 month payment plan to payout XXXX with payments of {$680.00} I feel like the process is very unfair and unrealistic. I voluntarily surrendered the vehicle in immaculate condition as Id only had the car about 6-8 months with no missed payments low mileage and was honest about my situation. When I entered the lease I was so excited about the purchase and was confident I could afford the vehicle note I honestly didnt look into any of the fine print as to terms and agreements as I was certain it was within my budget and I would finish the lease but with a newborn child coming I knew that would absorb a huge bulk of my income so I did what I felt was the only responsible thing to do.
Frequently Asked Questions
What is Complaint #11509111 about?
Complaint #11509111 was filed against Mercedes Benz Financial Services regarding Vehicle loan or lease specifically about Repossession. It was received by the CFPB on 2025-01-13T12:00:00-05:00.
How did Mercedes Benz Financial Services respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Vehicle loan or lease) and describe your issue in detail.
Can I see other complaints against Mercedes Benz Financial Services?
Yes, visit the Mercedes Benz Financial Services company profile at readthecomplaint.com/company/mercedes-benz-financial-services to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.