Vehicle loan or lease -- Problems at the end of the loan or lease -- Complaint #4546432
Complaint Overview
Complaint ID: 4546432
Company: Vw Credit
Product: Vehicle loan or lease
Sub-Product: Lease
Issue: Problems at the end of the loan or lease
Sub-Issue: Termination fees or other problem when ending the lease early
State: Georgia
ZIP Code: 30316
Date Received: 2021-07-15T12:00:00-05:00
Date Sent to Company: 2021-07-15T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/2021, I requested and received a payoff amount from Volkswagen Credit for a a XXXX XXXX I was leasing at the time. I then proceeded to trade in the XXXX and lease another vehicle at a XXXX dealership. According to the XXXX dealership, they confirmed the same payoff amount with Volkswagen Credit and sent the quoted payoff amount which was received but not applied to my account. Volkswagen Credit now claims, almost a month later, that the payoff amount received was short approximately {$6500.00} because there is a different payoff amount for consumers versus third-party buyers, in this case the XXXX dealership. However, there is not any notification or indication on the consumer website that there are different payoff quotes for a VW Credit customer and third-party buyer. The XXXX dealership and I have both made attempts over the last 2-3 weeks to contact and discuss the situation with Volkswagen Credit but have been able to reach someone who would discuss or resolve the situation. Neither the XXXX dealership or me are interested in paying the difference in payoff amounts and are working to undo the deal made over a month ago -- where I've already made payments to XXXX. Now, I am in the position to have to make multiple payments to VW Credit to avoid any negative reporting on my credit report. In addition, this third-party buyer payoff policy essentially prevents consumers from turning in a leased vehicle to anyone but a XXXX dealer -- which seems like it is an unfair practice.
Frequently Asked Questions
What is Complaint #4546432 about?
Complaint #4546432 was filed against Vw Credit regarding Vehicle loan or lease specifically about Problems at the end of the loan or lease. It was received by the CFPB on 2021-07-15T12:00:00-05:00.
How did Vw Credit 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 Vw Credit?
Yes, visit the Vw Credit company profile at readthecomplaint.com/company/vw-credit 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.