Consumer complaint received 2022-07-23
Company: WELLS FARGO & COMPANY
State: GA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Billing problem

Complaint:
On Friday XX/XX/XXXX I agreed to purchase a XXXX Certified Pre owned XXXX XXXX from XXXX XXXX in XXXX, XXXX XXXX XXXX our salesman, informed us that dealership advised that the best deal they could give us was to finance the vehicle at 7.9 % APR with Wells Fargo XXXX This was a pre-approval. As a result, we informed him, on that day, Friday, XX/XX/XXXX, that we would get XXXX XXXX XXXX XXXX ( NFCU ), our credit union, to do the financing. At approximately XXXX, XXXX introduced us to a representative in the financial services department named, XXXX XXXX XXXX was responsible for the contracts and paperwork. We advised XXXX that we would finance through XXXX XXXX XXXX XXXX ( XXXX ). He, stated, OK, but in order for you to drive off the lot with the car, I will need you to fill out a series of forms until you get XXXX XXXX to agree to financing. I filled out the paperwork and they gave us the keys. We got home at around XXXX AM on XX/XX/XXXX. In less than 12 hours ( i.e., XXXX, XX/XX/XXXX ), I went into XXXX and the representative at our credit union told us to call, XXXX XXXXXXXX XXXX and find out if I needed to refinance or just get a regular auto loan. It was confirmed with XXXX that we could just do regular auto loan financing because, it was late, it is the weekend, and no paperwork will be sent off, we can just void everything. Just give us a check for {$25.00}, XXXX. By noon give or take an hour, on XX/XX/XXXX, I secured a Finance agreement with XXXX for the XXXX XXXX XXXX at 6.9 % APR financing on a car loan for {$25.00}, XXXX. The XXXX representatives handed me a check for {$25.00}, XXXX made out to XXXX XXXX XXXX for the XXXX XXXX XXXX. I went back into XXXX XXXX with the check for {$25.00}, XXXX. I handed the check to XXXX, he had me endorse it on the front and the back and signed it off to XXXX XXXX XXXX. Knowing, I had purchased GAP coverage for {$1200.00} the night before ( i.e., XX/XX/XXXX ), I requested a refund for the {$1200.00}. XXXX refused and said that, if I give you {$1200.00}, I will have to request that you add {$1200.00} back to the balance of the vehicle because that cost was rolled into the price of the loan. This was invalid because I paid for that separately. Needless to say, by Tuesday, XX/XX/XXXX, I received a letter dated XX/XX/XXXX from Wells Fargo that I entered into a retail installment sale contract dated XX/XX/XXXX in the amount of {$26000.00} for 72 months at a rate of 7.04 %. 
XXXX XXXX  XXXX took my {$1200.00} for Gap coverage that I did not need, {$25.00}, XXXX from XXXX XXXX XXXX XXXX and then, sent paperwork to Wells Fargo for {$26000.00} on a vehicle that was already purchased and paid for by me for {$25.00}, XXXX. Please remove XXXX XXXX invalid agreement from my credit record and have XXXX XXXX XXXX send me a check for {$1200.00}. I do not owe XXXX XXXX XXXX or Wells Fargo anything.

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