Consumer complaint received 2022-12-31
Company: Mid-Atlantic Finance Co., Inc.
State: VA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Fraudulent loan

Complaint:
XX/XX/XXXX I signed paperwork at XXXX XXXX of XXXX for the purchase of a vehicle, the Sale Price of the vehicle was {$9000.00} financed through XXXX XXXX XXXX. I gave a {$1500.00} down payment to be applied to the Sale Price of {$9000.00} to bring the Sale Price to {$7500.00} for the purpose of lowering the amount financed. 

I was not notified that I could opt out of a credit check and was told it was necessary to get the vehicle. 

Around XX/XX/XXXX I received a call saying the financing wasn't approved and I should come back to sign new paperwork. 

On XX/XX/XXXX I signed the new paperwork with a new finance company XXXX XXXX. At this time the Sale Price of the vehicle changed from {$9000.00} to {$9700.00} Around XXXX of XXXX I was behind in payments, I received a call from collections asking where the car was and that they would call the cops  for grand theft if I didn't pay. I asked them to please provide me with a billing statement and they refused. 
XX/XX/XXXX I came across some information which raised some questions. I called XXXX to ask a few questions about fees and finance charges. The representative told me that XXXX doesn't come up with any numbers on the Retail Installment Contract and I should call XXXX XXXX of XXXX, the dealership I purchased the car from. 

I called XXXX XXXX who then told me that the XXXX, XXXX XXXX comes up with all the numbers on the contract. So, I called XXXX back who redirected me back to XXXX XXXX, who then redirected me back to XXXX. I still have no answer. 

I asked for a copy of my full contract from XXXX, they only sent me XXXX page and that was the Retail Installment Sale Contract. 

XX/XX/XXXX I called XXXX to get the full copy of the contract. The XXXX  XXXX told me it was sent. I informed her I only received XXXX page and I need the full contract. She then complained that it was a lot of paper and asked " what do you need it for anyway ''. I told her it was not her business, I just needed a copy, she then proceeded to get rude and said " call the dealership and get it from them ''. I then asked her if she was refusing to give me a copy of my contract and if she was I may have to get a lawyer involved. She then got really upset and yelled at me that she was " ending the call '' and to " call back when you have your lawyer ''. 

As I'm reviewing the XXXX page XXXX sent to me via email. I noticed there was a stamp on it that read " The within instrument or agreement is pledged as collateral to XXXX XXXX Bank, XXXX. '' I called XXXX XXXX to see if they have done any business with XXXX XXXX, I was told no and that they don't have any Title in my name nor is the VIN number in their system. I call XXXX XXXX back to ask what the stamp was and what does it mean. The same XXXX  XXXX mentioned earlier said " The owner of the company took out the loan and paid the dealership so I can get the vehicle '' and that XXXX XXXX was their lender. I then emailed them for further clarification and they emailed me that same statement and added that there shouldn't be any questions about anything. 

To sum it up. I never got any questions answered or any problem resolved.

Company public response: Company believes the complaint is the result of a misunderstanding
Company response to consumer: Closed with explanation