Vehicle loan or lease -- Managing the loan or lease -- Complaint #4973636
Complaint Overview
Complaint ID: 4973636
Company: PNC Bank N.A.
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Managing the loan or lease
Sub-Issue: Billing problem
State: Pennsylvania
ZIP Code: 18015
Date Received: 2021-12-03T12:00:00-05:00
Date Sent to Company: 2021-12-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I prepaid at an auto-loan at a PNC branch for a vehicle purchased from XXXX XXXX XXXX XXXX XXXX XXXX XX/XX/XXXX I deposited {$3300.00} to the PNC branch in XXXX XXXX, XXXX PA and asked the bank teller if she could split the payment up and pay for an entire year. The teller told me yes and that it was absolutely something they do. ( I have loan history documentation. ) A monthly payment is around {$270.00} so I am covered until XX/XX/XXXX. Sometime in XXXX or XX/XX/XXXX I received a call from a PNC official regarding this transaction that there was a problem, but they would resolve it and split the payment among months for the entire year. Since then, no contact with PNC was constructively established. Today, XX/XX/XXXX as I was going to my car to go to work, I found that my car was repossessed. Immediately after this I went to a branch bank by my residence. The branch bank manager XXXX admitted that the branch bank employee notated that the {$3300.00} was supposed to go to a whole year of payments as opposed to the principal balance. Later, I spent hours on the phone trying to resolve this issue. Further investigation found that PNC had made three ( 3 ) payments and then put the rest of the amount towards the principal. I have talked to the PNC Repossession Manager XXXX XXXX, and she believes the PNC bank Branch banker at XXXX XXXX made a mistake and that I should request a refund of the principal balance. The car was released from repossession, but I still have to find a way to go and pick it up at my expense. No one I have talked to has any idea why PNC did not split the lump sum into separate deposits for each month. The retail and loan side of the organization has not, as of yet, addressed that they made a mistake. What the banker told me regarding the deposit on XX/XX/XXXX should be honored. This is a predatory lending practice and constitutes misrepresentation which I believe is currently under a strict liability standard in Pennsylvania. Because my car has been repossessed, I can not do my duties as a landlord, nor can I go to work. This has caused XXXX XXXX and real liability.
Frequently Asked Questions
What is Complaint #4973636 about?
Complaint #4973636 was filed against PNC Bank N.A. regarding Vehicle loan or lease specifically about Managing the loan or lease. It was received by the CFPB on 2021-12-03T12:00:00-05:00.
How did PNC Bank N.A. 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 PNC Bank N.A.?
Yes, visit the PNC Bank N.A. company profile at readthecomplaint.com/company/pnc-bank-n-a 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.