Vehicle loan or lease -- Managing the loan or lease -- Complaint #5066303
Complaint Overview
Complaint ID: 5066303
Company: Yamaha Motor Finance Corporation USA
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Managing the loan or lease
Sub-Issue: Billing problem
State: District of Columbia
ZIP Code: 20001
Date Received: 2022-01-03T12:00:00-05:00
Date Sent to Company: 2022-01-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have experienced several ongoing problems with my Yamaha Motor Finance loan : - The company makes it extremely difficult to make payments above the minimum monthly payment amount in an effort to pay off the loan early. Payments above the minimum are applied to the next payments instead of principle - moving the payment due date far into the future instead. This is not clear anywhere on the website. I later found the only way to make such a payment is to pay by phone through a very lengthy process. Even then I am not able to actually make a payment purely toward principle- it will first apply part of the payment toward the next payment due first. In my case for example, my next payment due isn't for many months due to the problems noted above. This only compounds the problem noted above and keeps shifting the due date into the future and making it impossible to make a payment toward principle. - Amortization tables are not available and it is entirely unclear how interest is being accrued. For example, by paying down the principle earlier than the minimum payment schedule it is not clear if the interest being paid is being adjusted accordingly. - The loan information including loan balance on the website does not match up with the statements and payments made are not accurately reflected. It is entirely unclear if and how payments are being applied
Frequently Asked Questions
What is Complaint #5066303 about?
Complaint #5066303 was filed against Yamaha Motor Finance Corporation USA regarding Vehicle loan or lease specifically about Managing the loan or lease. It was received by the CFPB on 2022-01-03T12:00:00-05:00.
How did Yamaha Motor Finance Corporation USA 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 Yamaha Motor Finance Corporation USA?
Yes, visit the Yamaha Motor Finance Corporation USA company profile at readthecomplaint.com/company/yamaha-motor-finance-corporation-usa 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.