Consumer complaint received 2021-10-10
Company: CAPITAL ONE FINANCIAL CORPORATION
State: CA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Changes in terms mid-deal or after closing

Complaint:
On XX/XX/XXXX I went to XXXX to purchase a used vehicle XXXX XXXX XXXX, Capital One came back with best interest rate however the sells rep advised me to check with my insurance for GAP Insurance before purchasing it through loan and that I had 7 days to do so. XXXX XXXX did not offer GAP on my vehicle because it was outside of the 3 year window. I was not informed by XXXX I would have to return an repurchase the car. On XX/XX/XXXX, I returned the vehicle and purchased it again now causing the problem that Capital One changed the interest rate without any changes to the loan ( nothing changed ). XXXX and lenders have an agreement to honor the original interest rate for 30 days. The manager contacted Capital One who stated they would not honor the interest rate and I had to accept the current offer. Management explained they would keep working on this and for me to accept the current rate so I could at least be in the vehicle. On XX/XX/XXXX, I was contacted to return and purchase the vehicle again with the correct interest rate from Capital One ; management had the approval in hand so yet again I returned and to purchased the car. After 30 days Capital One sent a letter stating they would not honor the loan and had choose not fund it resulting in me returning and purchasing the car again having to select another lender ( ( XXXX ) with a higher interest because now I have 7 inquires for each time my credit was ran on the same vehicle, same car lot, and same lender. My fico score has dropped almost 30 points in 2 months. 

XXXX attempted to problem solve the issue. Management worked with Capital One countless times, received the hard copy approval, comp future repairs, and etc. However XXXX system is who ran my credit each time I had to purchase the car creating my credit nightmare. 

Capital One breached it contract with XXXX by not honoring the original agreement and then after stating they would denied me anyway. 

I can't help by feel discriminated against as nothing to the loan term change. Each and every time Capital One contacted me I replied with any information requested, submitted documents and etc. At one point I was even accused of using a false address as I explained I current reside with a family member who travels and ask me to stay and watch her home during her absence therefore I had no bills in my name. I asked if she was to write a notarized letter or create a lease or even supply her bills would that help. Nothing I suggested met the qualifications and shortly after I was denied the loan. 

As of today my fico score dropped another 16 points. I am asking for a correction to my credit score, payment for hardship of having to return/purchase the car 3 times, compensation for my time and my pain/sufferings ( 2 times I had just had XXXX XXXX and had to sit in XXXX for over 4 hours to resolve these issues with no meds and no food ). 

Management and Staff of XXXX - XXXX, XXXX, XXXX ( XXXX ), XXXX, XXXX, and XXXX ( Sales )

Company response to consumer: Closed with explanation