Vehicle loan or lease -- Managing the loan or lease -- Complaint #12197685
Complaint Overview
Complaint ID: 12197685
Company: Southern Auto Finance Co
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Managing the loan or lease
Sub-Issue: Problem with the interest rate
State: Florida
ZIP Code: 33142
Date Received: 2025-02-18T12:00:00-05:00
Date Sent to Company: 2025-02-24T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/XXXX I purchased a XXXX XXXX from XXXX XXXX XXXX XXXX XXXX XXXX XXXX and financed through SOUTHERN AUTO ( SAFCO ). It has come to my attention that in my case, I was not adequate informed about the true cost of barrowing. The terms of the loan provided were not only unfavorable but also potentially predatory in nature. Specifically, the disclosures were inaccurate, and misleading ; e.g., " ANNUAL PERCENTAGE RATE, FINANCE CHARGE, AMOUNT FINANCED, TOTAL OF PAYMENTS, AND TOTAL SALE PRICE. '' This failure to disclose material terms of the transaction constitutes a violation of my consumer rights. However, during our transaction, I did not receive full disclosure regarding various fees associated with the loan, specifically, GAP CONTRACT, LOAN PROCESSING FEE, DEALERS PREPARATION FEES AND DOCUMENT FEES, that inflated my overall financial obligation without proper justification or explanation.
Frequently Asked Questions
What is Complaint #12197685 about?
Complaint #12197685 was filed against Southern Auto Finance Co regarding Vehicle loan or lease specifically about Managing the loan or lease. It was received by the CFPB on 2025-02-18T12:00:00-05:00.
How did Southern Auto Finance Co 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 Southern Auto Finance Co?
Yes, visit the Southern Auto Finance Co company profile at readthecomplaint.com/company/southern-auto-finance-co 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.