Vehicle loan or lease -- Problems at the end of the loan or lease -- Complaint #4568954
Complaint Overview
Complaint ID: 4568954
Company: Capital One Financial Corporation
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Problems at the end of the loan or lease
Sub-Issue: Problem while selling or giving up the vehicle
State: Virginia
ZIP Code: 22207
Date Received: 2021-07-23T12:00:00-05:00
Date Sent to Company: 2021-07-23T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
New car purchased at XXXX XXXX of XXXX ( Maryland ) on XX/XX/2021 with a combination of trade-in and new auto loan. Loan was granted ( also by Capital One ) on XX/XX/2021 but dealer or bank will not process payoff of loan linked to trade-in. Trade-in value for the car was over {$14000.00} while balance of loan for this trade-in was less then {$2000.00}. XXXX has caused additional interest charges and also need to make an extra car payment, and unnecessary and customer-unfriendly confusion to keep track of refunding of this excess payment ( I am not sure whether from Capital One or the dealer, or if dealer will keep the excess. ) Only after repeated calls did I get a call back from the finance manager, who then gave me condescending answers without answering why they would have received a 10-day payoff yet the loan was not paid off in 10 days. ( Today is XX/XX/2021 - 14 days after trade-in ). Dealer prominently advertises they offer auto loan through your bank. Please engage with dealer directly.
Frequently Asked Questions
What is Complaint #4568954 about?
Complaint #4568954 was filed against Capital One Financial Corporation regarding Vehicle loan or lease specifically about Problems at the end of the loan or lease. It was received by the CFPB on 2021-07-23T12:00:00-05:00.
How did Capital One Financial Corporation 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 Capital One Financial Corporation?
Yes, visit the Capital One Financial Corporation company profile at readthecomplaint.com/company/capital-one-financial-corporation 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.