Consumer complaint received 2023-06-12
Company: HYUNDAI CAPITAL AMERICA
State: CA
Product: Vehicle loan or lease
Sub-product: Lease
Issue: Managing the loan or lease
Sub-issue: Billing problem

Complaint:
My name is XXXX XXXX XXXX XXXX ( my phone number is XXXX ). My car 's VIN number is XXXX. My Hyundai Motor Finance account is XXXX My lease account is with Hyundai Motor Finance. On XXXX XX/XX/2023, there was a cheque payment of {$2900.00} received by Hyundai Motor Finance towards my account, this came from the refund cheque of the extended warranty which I cancelled. I was told by many customer representatives that this amount will be applied towards the principal ( aka capitalized cost for a leased vehicle ). However, a few days later, I checked my online account and was surprised that an amount of {$750.00} was deducted from the {$2900.00} for the XXXX payment ( which is not even due, it is only due on XXXX ). On XXXX XX/XX/2023, I called the Hyundai Motor Finance hotline again, speaking to a lady ( let 's call her the 1st lady ) & asking her why {$2900.00} was not applied to my principal/capitalized cost but deducted towards my XXXX payment though it was not due date. She told me she submitted the request to reverse the payment of {$750.00} and apply the full amount of {$2900.00} towards my principal. However, after she submitted that request, she realized my account is a lease account and she told me for a lease account, there is no principal (??? ) and no interest (??? ), while I tried to ask more questions, the call was cut off. I had no choice but to call again and spoke to another lady ( her name is XXXX ), XXXX told me the amount of {$2900.00} will not be applied to the principal ( because mine is a lease account ) and the amount will stay as a credit to offset monthly payment when it is due. I told XXXX that I am about to pay off, the only thing that holds me back is because those representatives who spoke to me previously told me to wait till the amount of {$2900.00} was cleared and applied to the principal. I waited and waited and now you told me there is no such thing as applying for a payment towards principal for a lease account ( how frustrating it was! ). XXXX finally offered a solution that she would submit a request to refund the balance of {$2200.00} ( which is the result of {$2900.00} minus XXXX payment {$750.00} ). It was still not fair to me because I should have received the full refund of {$2900.00} if I do the payoff before XX/XX/XXXX. But I was so exhausted and I did not want to complicate things further, so I agreed to XXXX 's solution. 

After the call with XXXX, I realized the 1st lady whom I spoke to before XXXX also submitted a request ( to apply {$2900.00} towards principal though she realized it was wrong after submission ), so which request will be effective? I called back but it was after working hours so I have to wait till next Monday. 

Today ( Monday, XXXX XX/XX/2023 ), I woke up early and called the Hyundai Motor Finance hotline multiple times and spoke to multiple people because every call connected was cut off halfway through the conversation. I just want to know which request will be processed by the Payment team. The request to apply {$2900.00} towards the principal submitted by the 1st lady should be invalid and cancelled. Only the request for refund of {$2200.00} put up by XXXX should be processed. None of the almost 10 people I spoke to today can give me a clear and helpful solution. Either the line was cut off or they told different things with each call, which was so exhausting and frustrating. 

XXXX I put up a humble request that a capable, understanding staff who actually works in the XXXX office with a direct phone line help me resolve this please? I was a happy customer and now I am a very desperate & helpless customer.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation