Vehicle loan or lease -- Getting a loan or lease -- Complaint #4950478
Complaint Overview
Complaint ID: 4950478
Company: Fleet Financial, INC.
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Getting a loan or lease
Sub-Issue: Confusing or misleading advertising or marketing
State: Arizona
ZIP Code: 85233
Date Received: 2021-11-27T12:00:00-05:00
Date Sent to Company: 2021-11-27T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/2021, I applied for an auto refinance with XXXX XXXX. After providing my information, I was provided quotes from various lenders. I chose to work with iLending because they provided the lowest rate of all lenders ( 3.60 % APR ). I got a call from XXXX XXXX, and as we started talking about my goal for refinancing, I was told that because of my credit score range, the rate I would get was around ~ XXXX, which is higher than the rate advertised on XXXX XXXX. I proceed to tell XXXX XXXX that advertisement of rates that arent available its a deceptive practice and a UDAAP violation. XXXX XXXX then said that none of the quotes provided by XXXX XXXX is accurate and that iLending does not have a marketing agreement with XXXX XXXX, despite XXXX XXXX clearly doing advertising work on iLendings behalf. Upon closely examining the disclosures provided on XXXX XXXX site, the following stood out : - XXXX XXXX site states you are approved, and proceeds to provide the terms of the loan approval. A reasonable consumer will have the net impression that the terms provided is for the actual loan approval, not just a quote. Yet, upon contacting the lender, the consumer is told that information on XXXX XXXX is not accurate and a different, higher rate is quoted- Under Lender Notes, XXXX XXXX site states the interest rate quoted may be dependent on the model and year of your vehicle. If you did not enter a model year, or if you finance a different vehicle, then your interest rate may change. It clearly does not state that the rate could change because of the credit score, given that XXXX XXXX already obtained the score and shared that information with iLending. Given that XXXX ) iLending knew what my credit score was XXXX ) The vehicle year and model did not change after the application, its hard to believe that XXXX could not provide an accurate quote and prevent consumers to be misled about pricing of their loans XXXX XXXX stated that the call was recorded and therefore the information provided here can be verified by listening to the phone records.
Frequently Asked Questions
What is Complaint #4950478 about?
Complaint #4950478 was filed against Fleet Financial, INC. regarding Vehicle loan or lease specifically about Getting a loan or lease. It was received by the CFPB on 2021-11-27T12:00:00-05:00.
How did Fleet Financial, 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 (Vehicle loan or lease) and describe your issue in detail.
Can I see other complaints against Fleet Financial, INC.?
Yes, visit the Fleet Financial, INC. company profile at readthecomplaint.com/company/fleet-financial-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.