Vehicle loan or lease -- Managing the loan or lease -- Complaint #18042248
Complaint Overview
Complaint ID: 18042248
Company: Cresco Capital INC.
Product: Vehicle loan or lease
Sub-Product: Lease
Issue: Managing the loan or lease
Sub-Issue: Problem with additional products or services purchased with the loan
State: Illinois
ZIP Code: 60446
Date Received: 2025-11-30T12:00:00-05:00
Date Sent to Company: 2025-11-30T12:00:00-05:00
Company Response: Untimely response
Timely Response: No
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
I am filing a complaint regarding a XXXX XXXX I purchased from XXXX XXXX XXXX that had a transmission defect from the very first day, which the company repeatedly dismissed. Their actions and lack of proper inspection have caused significant financial harm to my business. On the first day I purchased the truck and drove it home from Iowa, I received a low transmission air warning. I immediately called XXXX XXXX, and I was told this was normal, even though the warning persisted. I brought the truck to XXXX XXXX XXXX multiple times for this same issue, but they never properly inspected the transmission. They performed unrelated repairs and charged me for services that did not fix the problem. The transmission warning never went away from day one. This shows that the truck had a pre-existing transmission defect at the time of sale. XXXX XXXX failed to properly address my concerns, and XXXX XXXX XXXX failed to diagnose the issue despite multiple visits. I acted in good faith and maintained the truck, while the companies responsible ignored the root problem. During a previous XXXX complaint, XXXX XXXX offered to take the truck back only if I forfeited my deposit, all payments I had made, and the repair money I had already invested. I had already spent XXXX trying to keep the truck operational and could not afford to lose that amount, so I continued making payments and attempting repairs. The truck has now been diagnosed as needing a full transmission replacement costing approximately {$18000.00}. This confirms that the issue existed from the beginning and was repeatedly ignored. I have paid over {$1300.00} per month for this truck and invested XXXX in repairs. The truck has been down since XXXX, causing me to lose income, work opportunities, and a business contract. This has placed me under significant financial strain. XXXX XXXX is now offering only three options : ( 1 ) pay off the truck in full, ( 2 ) voluntary surrender with negative credit reporting and potential remaining balance, or ( 3 ) finding someone to assume the lease. None of these options are fair considering that I reported the defect immediately, the issue was never properly investigated, and the truck is now requiring an extremely costly repair. I also have the health reports for the truck also all receipts from taking the truck to the shop for low transmission error!
Frequently Asked Questions
What is Complaint #18042248 about?
Complaint #18042248 was filed against Cresco Capital INC. regarding Vehicle loan or lease specifically about Managing the loan or lease. It was received by the CFPB on 2025-11-30T12:00:00-05:00.
How did Cresco Capital INC. respond to this complaint?
The company responded with: "Untimely response". The response was not 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 Cresco Capital INC.?
Yes, visit the Cresco Capital INC. company profile at readthecomplaint.com/company/cresco-capital-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.