Vehicle loan or lease -- Managing the loan or lease -- Complaint #5387564
Complaint Overview
Complaint ID: 5387564
Company: Nissan Motor Acceptance Company LLC
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Managing the loan or lease
Sub-Issue: Problem with the interest rate
State: Georgia
ZIP Code: 30052
Date Received: 2022-03-30T12:00:00-05:00
Date Sent to Company: 2022-04-27T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I purchased a XXXX Nissan XXXX XX/XX/XXXX from XXXX XXXX Nissan. The purchase price was a little over XXXX. As of today Ive paid XXXX in interest and XXXX in principle with a maturity date of XX/XX/XXXX for a monthly payment of XXXX. This should be an illegal practice to charge this much interest up front for any loan. I purchased the car under the impression I could trade it in after 9 months of I paid on time and my 18 % interest rate would be lowered drastically. When the time came I found out that wasnt true. NMAC then lowered my payment from XXXX to XXXX but extended my loan which I now see was another ploy to collect more interest. Now Ive paid XXXX k for a XXXX car that I can either return and take a XXXX loss or pay another XXXX to own. NMAC preys on people who may not know any better and at the time I didnt.
Frequently Asked Questions
What is Complaint #5387564 about?
Complaint #5387564 was filed against Nissan Motor Acceptance Company LLC regarding Vehicle loan or lease specifically about Managing the loan or lease. It was received by the CFPB on 2022-03-30T12:00:00-05:00.
How did Nissan Motor Acceptance Company LLC 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 Nissan Motor Acceptance Company LLC?
Yes, visit the Nissan Motor Acceptance Company LLC company profile at readthecomplaint.com/company/nissan-motor-acceptance-company-llc 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.