Consumer complaint received 2023-01-06
Company: Exeter Finance Corp.
State: CA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Fraudulent loan

Complaint:
Affidavit of truth This rescission notice is made Pursuant to 15 U.S. CODE 1635 ( a ) ( 3 ) ( D ) and 12 CFR 1026.15 ( B ) ( 1 ) ( 2 ) ( 3 ) ( 4 ) ( 5 ), as I was never told I had 3 days to rescind the contract agreement which is required by federal law. Neither was I given the notice that comes along with all consumer credit transactions. Furthermore, you EXETER FINANCE LLC failed to clearly & conspicuously disclose all my rights of rescission. Creditor shall deliver XXXX copies of the notice of the right to rescind to each consumer entitled to rescind. Instead, I was provided with a Contact cancellation agreement by dealer XXXX XXXX which is required by state law but does not affect the ability of a buyer to rescind the contract or revoke acceptance under any other law. In Addition, the contact cancellation agreement is void due to the violation of Vehicle State Code 11713.21 ( b ) ( 3 ) ( g ). The dealer shall not specify a time that is earlier than the dealer 's close of business on the second day following the day on which the vehicle was originally delivered to the buyer by the dealer. The Contact cancellation agreement indicated the latest time as XXXX on the contract agreement but should reflect XXXX which is indicated on their website for place of business at XXXX XXXX  XXXX XXXX XXXX XXXX, CA XXXX Dear EXETER FINANCE LLC , Pursuant of 15 U.S CODE 1602 ( I ), I XXXX XXXX , original creditor and Natural Man herby rescind my consent to be liable or compelled to perform on to the contract and agreement I entered with EXETER FINANCE LLC .

I entered into this contract agreement with EXETER FINANCE LLC without, 1. Full Disclosure of my right of rescission in Pursuant to 12 CFR 1026.15 ( B ) ( 1 ) ( 2 ) ( 3 ) ( 4 ) ( 5 ) and 15 U.S. CODE 1635 ( a ) ( 3 ) 2. Transparency regarding the process of the consumer credit application being the financial asset 12CFR 360.6 ( 2 ) ( D ) 3. Proper information in Pursuant of Vehicle State Code 11713.21 ( b ) ( 3 ) ( g ) 4. As well as self liquidating paper ( 17 CFR 260.11b ( 6 ) In Pursuant of 15 U.S CODE 1611, I have reasons to believe that dealership Seller XXXX XXXX & creditor EXETER FINANCE LLC willingly and knowingly took advantage of me and my consumer credit. In accordance with Truth In Lending ( TILA ), and Pursuant of 15 U.S. CODE 1605 ( a ) with connection to consumer credit transaction the word Finance Charge, does NOT include charges of a type payable in a comparable cash transaction. I was required to pay {$3700.00} as a down payment which is a violation of 15 U.S Code 1605. In addition, pursuant of 15 U.S. CODE 1605 ( a ) ( 5 ) insurance should have been included in the finance charge. Instead, it was disclosed to me I would have to provide my own insurance before leaving the dealership.

I am NOT terminating or canceling this contract, I am deducting my liability to pay on behalf of the obligor, as I found serval violations and fraud. Notice that Pursuant to 15 U.S. CODE 1635 ( b ) : upon receipt of this rescission, I am NOT liable for any finance charge or other charge. Any security interest given by the obligor including any such interest arising by operation of law becomes void upon such a rescission. In addition, I was given false and deceptive information as I was informed that a down payment of {$3700.00} was needed for me to drive off the lot.

Pursuant to 15 U.S. CODE 1635 within ( 20 ) twenty days after recipe of this notice of rescission, the creditor shall return to the obligor any money or property given as earnest money, down payment, or otherwise, and shall take any action necessary or appropriate to reflect termination of any security interest created under the transaction and placed on the property which in this case is a CAR XXXX  XXXX XXXX XXXX XXXX # - XXXX In Pursuant of 15 U.S CODE 1611 ( 1 ) ( 3 ) ; One can be fined up to {$5000.00} or imprisoned not more than one year, or both for giving false or inaccurate information or fails to provide information which is required to disclose to me.

Take future notice that Pursuant to 15 U.S. CODE 1605 in connection with any consumer credit transaction shall be determined as the sum of all charges, the down payment and any other reimbursement should be issued by check or money order payable to XXXX XXXX XXXX, and sent to XXXX XXXX XXXX, XXXX CA, XXXX XXXX XXXX XXXX Please feel free to send all communications by mail to XXXX XXXX XXXX, XXXX CA, XXXX XXXX XXXX XXXX Thank you, XXXX XXXX

Company response to consumer: Closed with explanation