Vehicle loan or lease -- Managing the loan or lease -- Complaint #8289919
Complaint Overview
Complaint ID: 8289919
Company: American Finance LLC
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Managing the loan or lease
Sub-Issue: Problem with the interest rate
State: Delaware
ZIP Code: 19713
Date Received: 2024-02-05T12:00:00-05:00
Date Sent to Company: 2024-02-05T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
In XXXX of 2023, I agreed to a financing loan through American Finance Llc for a used vehicle purchased through XXXX XXXX in XXXX, DE. I was told that I would be signing a 4.5 year loan for {$14000.00}, and my payment would be {$200.00} every two weeks. I have made payments of {$210.00} every two weeks for approximately 10 months, bringing my total payments to roughly around {$4000.00}. To date, American Finance Llc has only reported less than {$1000.00} as paid on the loan, indicating approximately 70 % of my payments have gone into interest or have not been applied to the loan. Additionally, my credit report was displaying a loan term of six years, which was verbally confirmed when I called and spoke to someone named XXXX. When I initially requested my contract be emailed, I was sent the wrong person 's contract, which is a breach of that person 's information. I was then sent my own after another request, and used that to prove what terms I had agreed to. I have called and emailed several times to resolve these issues. The loan term was adjusted and now shows a five year loan for credit reporting, which is still not what I signed on the contract. Additionally, the payments have not been reflected, and my car is now indicating over {$6000.00} in negative equity because the payments have not been corrected, and this amount should only be approximately {$3000.00}.
Frequently Asked Questions
What is Complaint #8289919 about?
Complaint #8289919 was filed against American Finance LLC regarding Vehicle loan or lease specifically about Managing the loan or lease. It was received by the CFPB on 2024-02-05T12:00:00-05:00.
How did American Finance 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 American Finance LLC?
Yes, visit the American Finance LLC company profile at readthecomplaint.com/company/american-finance-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.