Vehicle loan or lease -- Getting a loan or lease -- Complaint #4905580
Complaint Overview
Complaint ID: 4905580
Company: Wells Fargo & Company
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Getting a loan or lease
Sub-Issue: Confusing or misleading advertising or marketing
State: Tennessee
ZIP Code: 37075
Date Received: 2021-11-12T12:00:00-05:00
Date Sent to Company: 2021-11-12T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Per my request to Wells Fargo I advised them in writing that I was mislead and mistreated on the day I purchased a car. I notified Wells Fargo verbally on multiple occasions expressing my concerns with their company. The contract was very Confusing and misleading per the fraud services that were added without my knowledge which was GAP insurance and extended service. This was in fact removed off of my contract by my complaint but it was already included in my price of my car leaving the dealership. I have been struggling with this complaint since the beginning of the contract speaking with those at Wells Fargo! I spoke with a representative due to a returned VM early 2021. I was advised that she was going to escalate my complaint to the executive office and someone will be in touch with me. I received a call back in XXXX by a person in the executive office which he asked me to restate my concerns that were in the letter. As I was already frustrated by speaking with the rep before him and already voicing my concerns and demands I went ahead and repeatedly advised him of the laws, violations and issues that I had with the company. The laws that Wells Fargo is in violation of is :15 USC 1605-1692 Fair Debt Practices, 15 USC 1681 FCRA, 15 USC 1601-1667f Truth in Lending Act, 15 USC 1691 The Equal Credit Opportunity ACT, 15 USC 6801*6809 The Gramm leach BALILEY ACT USC 1605 states and 12 CFR226.3 : Transaction should be the sum of all charges, payable directly or indirectly by the person to whom the credit is extended, and imposed. The amount can be arranged, unless the creditor usually and customarily arranges credit payments or installments for that period and in that amount. I am paying cash for my car loan monthly which this was already paid by my Estate per my bonded birth certificate. Also no cash transaction are legal on this loan per this law. The rep advised me this was NOT against the law which is incorrect! 15 USC 1605 states that at the time of purchase a client 's liability insurance must be added in with the car price and finance charges, this did NOT take place either because I pay monthly for my car insurance which includes liability coverage and collision coverage which was required before I left the dealership with the vehicle I was purchasing. At this point I am escalating this to CFPB due to illegal practices with this company and since a right to rescind which by law I was also NOT provided in writing or verbally I am demanding this contract to be null and void per 12 CFR226.3 I know by law that I am not liable for any finance or other charges!
Frequently Asked Questions
What is Complaint #4905580 about?
Complaint #4905580 was filed against Wells Fargo & Company regarding Vehicle loan or lease specifically about Getting a loan or lease. It was received by the CFPB on 2021-11-12T12:00:00-05:00.
How did Wells Fargo & Company 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 Wells Fargo & Company?
Yes, visit the Wells Fargo & Company company profile at readthecomplaint.com/company/wells-fargo-company 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.