Payday loan, title loan, personal loan, or advance loan -- Charged fees or interest you didn't expect -- Complaint #14361387
Complaint Overview
Complaint ID: 14361387
Company: Tesla, INC.
Product: Payday loan, title loan, personal loan, or advance loan
Sub-Product: Installment loan
Issue: Charged fees or interest you didn't expect
State: California
ZIP Code: 93720
Date Received: 2025-06-29T12:00:00-05:00
Date Sent to Company: 2025-06-29T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
A principal payment was made of {$12000.00} was made at the start of the loan, 1 year ago, XX/XX/XXXX. Tesla stated this would not be applied to the principal until 1 year of interest had passed as Tesla filed it under " partial principal payment '' for their recast payment. THIS IS VERY DECEPTIVE AND DESERVES INVESTIGATION. A {$28000.00} principal payment was then made XX/XX/XXXX, to get close to paying off loan. On XX/XX/XXXX the usual monthly payment of {$540.00} was taken. Only {$330.00} remain of the principal ( out of {$45000.00} ) Shortly after that automatic payment, " late payment '' notices occurred without any statements. XX/XX/XXXX - I sent an email XX/XX/XXXX to Payment Resolutions at XXXX XX/XX/XXXX - Payment Resolutions raised the inquiry with the Finance Department stating the The XXXX statement was released incorrectly stating XX/XX/XXXX payment was not paid, and billing " {$1600.00} '' for the month of XXXX. THIS IS ABSOLUTELY NOT WHAT WAS IN OUR CONTRACT. XX/XX/XXXX - XXXX sent another email asking for a reply and referencing the statement. XX/XX/XXXX - XXXX reply from Payment resolution stating they sent a notification to finance department, but gave me the option of contacting them myself. XX/XX/XXXX - still no response from finance department. I sent another email, to Payment Resolutions saying if they can't reach them, how do they expect me to reach them? I did cc the Tesla Finance email they gave me. XX/XX/XXXX - XXXXesla finance replies " please give us 2-4 business days to provide a follow up '' XX/XX/XXXX - no response. I send Tesla Finance an email requesting for an update and a payoff amount to end this silly loan. I ask if they can not provide an explanation, to pause the " due payments '' and late penalties that may accrue. XX/XX/XXXX - No actual updates from Tesla finance about the charges or payoff amount, just stating " we are unable to pause payments Collection efforts and notifications will continue. '' Violation of Early Pay Provision and TILA ( Truth In Lending Act )
Frequently Asked Questions
What is Complaint #14361387 about?
Complaint #14361387 was filed against Tesla, INC. regarding Payday loan, title loan, personal loan, or advance loan specifically about Charged fees or interest you didn't expect. It was received by the CFPB on 2025-06-29T12:00:00-05:00.
How did Tesla, INC. 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 (Payday loan, title loan, personal loan, or advance loan) and describe your issue in detail.
Can I see other complaints against Tesla, INC.?
Yes, visit the Tesla, INC. company profile at readthecomplaint.com/company/tesla-inc 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.