Vehicle loan or lease -- Managing the loan or lease -- Complaint #7326129
Complaint Overview
Complaint ID: 7326129
Company: New City Funding CORP.
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Managing the loan or lease
Sub-Issue: Problem with fees charged
State: Florida
ZIP Code: XXXXX
Date Received: 2023-07-30T12:00:00-05:00
Date Sent to Company: 2023-07-30T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/2019 I went to XXXX XXXX auto dealership, to find a vehicle, I applied on their application, they referred me to New City Funding for a loan, for the purchase of the vehicle, I was instructed to give. a {$3000.00} down payment for the vehicle, so I did, as we were going through the retail installment contract, I was instructed to initial certain areas not understanding what they mean all I knew was Im getting my car, after finally paying off the loan, I started to study new material, thus me learning that any dealership asking for a down payment in a consumer transaction is illegal along with a list of violations according to the truth and lending act. I was never given full disclosure that I had the right to rescind the contract which I have done, certified mail, with a copy of the contract, which is marked up with the USC violations and fines I have given them 20 days to respond and havent received any knowledge on the matter
Frequently Asked Questions
What is Complaint #7326129 about?
Complaint #7326129 was filed against New City Funding CORP. regarding Vehicle loan or lease specifically about Managing the loan or lease. It was received by the CFPB on 2023-07-30T12:00:00-05:00.
How did New City Funding CORP. 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 New City Funding CORP.?
Yes, visit the New City Funding CORP. company profile at readthecomplaint.com/company/new-city-funding-corp 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.