Consumer complaint received 2021-06-01
Company: HYUNDAI CAPITAL AMERICA
State: FL
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Problems at the end of the loan or lease
Sub-issue: Problem with paying off the loan

Complaint:
I purchased 2 new XXXX XXXX XXXX from XXXX  XXXX  in XXXX XXXX XXXX on XX/XX/XXXX. I traded in two XXXX kias for them. The contract stated that the pay off the old loans on the XXXX kias and the new loans and first payment was due in XXXX. I would have no payment from then until XXXX. I surrendered the titles to the XXXX cars and left with my XXXX kias. 
This was on XX/XX/XXXX, AS STATED BY THE CAR DEALER NO PAYMENT WOULD BE DUE UNTIL XXXX. I was also told to expect checks in the mail for the difference in warranties, gap etc.. Once the paperwork all went through. 
But on XX/XX/XXXX Kia Finance auto debited the payment for the XXXX car I no longer owned and had surrendered/signed over to the dealer 2 days prior for XXXX. This would have been the due date for the XXXX car, had I not traded it in as it was on auto pay. I contacted my bank who informed me since I did not own the car and the transaction was still processing, they would put a stop payment on it, and I authorized this. The XXXX was refunded. 

On XX/XX/XXXX I got a check from Friendly kia for XXXX and then one for XXXX stating difference on payoff for trade in. and I cashed this checks in what appeared to be overpayments. Without a letter of explanation or instructions, I took this to mean this was the money owed to me for overpayment that salesmen talked about on XX/XX/XXXX XXXX XXXX XXXX I received a letter stating this was paid in full. It stated your retail installment account was paid in full. In addition, the car dealer XXXX XXXX, got the title released from Kia Finance and re-sold the XXXX kia. 

Apparently on XX/XX/XXXX my bank reversed the payment of XXXX on XX/XX/XXXX. The letter clearly stated I was not responsible for the debt. ( You cant pay for something you no longer own that was re-sold and paid the person who bought it ( XXXX XXXX ). 
Now, Kia Finance has illegally re-opened this account and is charging 6 % interest daily stating they were paid right they claim they were owed XXXX but the dealer only paid XXXX yet they sent me the paid in full letter and released title to the kia dealer. This is a difference of {XXXX -- -so even if the stop payment for a car I no longer owned or owed on that I did on XX/XX/XXXX had anything to do with this that amount was only XXXX and would not have given this amount. 
XXXX XXXX states that the dealer was given this XXXX payoff amount on both XX/XX/XXXX, and XX/XX/XXXX. On the phone they stated that this payoff amount of XXXX already included the XXXX XXXX payment that was not yet made but this was clear to the dealer and it should have been sent to them as part of the payoff amount, but instead they got this lessor amount of XXXX. 
The dealer only paid them the XXXX yet they released the title and sent me the letter on XX/XX/XXXX saying the debt was paid in full. In addition the dealer says this is the only amount kia requested. 
Can they do this and open back up and hold me responsible for a debt they already cleared and said was paid in full. And claim they did not get enough money?

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