Vehicle loan or lease -- Problems at the end of the loan or lease -- Complaint #6427224
Complaint Overview
Complaint ID: 6427224
Company: Jpmorgan Chase & Co.
Product: Vehicle loan or lease
Sub-Product: Lease
Issue: Problems at the end of the loan or lease
Sub-Issue: Problem when attempting to purchase vehicle at the end of the lease
State: Ohio
ZIP Code: 43221
Date Received: 2023-01-11T12:00:00-05:00
Date Sent to Company: 2023-01-11T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
At lease origination, my contractually-documented residual value was determined to be {$19000.00} for my 2020 XXXX XXXX XXXX At the end of my lease, my account was debited for an extra lease payment because Chase XXXX does not stop charging automatically at the end of the lease term and it is the responsibility of the customer to manually stop payment set up in their system. When I called to report the overpayment, I was told by Chase customer support that this amount would be used to reduce the payoff amount on my vehicle. I was charged {$420.00}, which should have reduced my payoff to {$18000.00}. I was told to pay {$18000.00} to purchase my vehicle after this extra payment. This is a difference of {$90.00} that was taken by Chase with no explanation.
Frequently Asked Questions
What is Complaint #6427224 about?
Complaint #6427224 was filed against Jpmorgan Chase & Co. regarding Vehicle loan or lease specifically about Problems at the end of the loan or lease. It was received by the CFPB on 2023-01-11T12:00:00-05:00.
How did Jpmorgan Chase & Co. 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 Jpmorgan Chase & Co.?
Yes, visit the Jpmorgan Chase & Co. company profile at readthecomplaint.com/company/jpmorgan-chase-co 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.