Vehicle loan or lease -- Managing the loan or lease -- Complaint #14297240
Complaint Overview
Complaint ID: 14297240
Company: Westlake Services, LLC
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Managing the loan or lease
Sub-Issue: Problem with the interest rate
State: California
ZIP Code: 95661
Date Received: 2025-06-25T12:00:00-05:00
Date Sent to Company: 2025-06-25T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Misapplication of Auto Loan Payment & Failure to Honor Principal-Only Terms XXXX. Summary of the Issue : My auto loan lender, Westlake Financial, verbally assured me that I could make principal-only payments at any time as long as my account was current. However, when I made an extra {$500.00} payment on [ Date ] with the intent to reduce the principal balance, the lender applied nearly XXXX XXXX to interest instead. When I called to dispute this, a representative stated that accrued interest must be paid firsta condition that was never disclosed in my loan agreement or original terms. XXXX. Problems with the Lenders Actions : Misleading Information : I was told I could make principal-only payments, but the lender retroactively imposed an undisclosed rule about paying accrued interest first. Lack of Transparency : The lender has not provided a clear breakdown of how my payments are applied ( principal vs. interest ) or a copy of my original loan terms. Potential Violations : This may breach the Truth in Lending Act ( TILA ), which requires clear disclosure of loan terms, and state consumer protection laws against deceptive practices. XXXX. What Ive Done to Resolve This : Contacted the lender multiple times, requesting : A full payment history ( principal/interest breakdown ). Correction of the {$500.00} payment to apply fully to principal. A copy of my original loan agreement. The lender has failed to resolve the issue satisfactorily. XXXX. What I Want the CFPB to Do : Investigate whether the lender violated federal lending laws ( TILA, UDAAP ). Require the lender to : Apply my {$500.00} payment fully to principal as originally promised. Provide a complete payment history and loan agreement. Refund any improperly charged interest.
Frequently Asked Questions
What is Complaint #14297240 about?
Complaint #14297240 was filed against Westlake Services, LLC regarding Vehicle loan or lease specifically about Managing the loan or lease. It was received by the CFPB on 2025-06-25T12:00:00-05:00.
How did Westlake Services, LLC 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 Westlake Services, LLC?
Yes, visit the Westlake Services, LLC company profile at readthecomplaint.com/company/westlake-services-llc 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.