Consumer complaint received 2023-03-30
Company: NISSAN MOTOR ACCEPTANCE COMPANY LLC
State: NY
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:
Im a victim of predatory lending and bank fraud by XXXX Nissan of XXXX, NY who embellished my auto loan application. In XX/XX/2022 I received a flyer in the mail, under my name, focusing solely on people like me who were right out of bankruptcy and who may want to get into a car at a great rate. Clearly the dealership had my bankruptcy info via public data and knew I was an easy target with past credit related issues. Anyway, I called the dealershipXXXX XXXX Nissan of XXXX, NY ( XXXX XXXX XXXX, XXXX, NY XXXX ), and spoke to a sales rep by the name of XXXX XXXX to find out a bit more about the program as I was in no rush to get into a new car immediately. I owned a beautiful XXXX XXXX electric car that was a bit of a challenge in the snow in XXXX New York and was simply looking at possible alternatives down the road, if the math made sense. I have proof of text to the sales rep that I was not in a hurry to make a bad deal. 

The sales rep above at XXXX Nissan indicated that he has a great point person at XXXXXXXX XXXX an underwriter, who gets anyone approved and will find a great opportunity for me. I did indicate to the sales rep that I had just come out of bankruptcy, thus Im sure the flyer from XXXX Nissan was directed to me as they have knowledge of those of us people out of bankruptcy, and didnt want to find myself in a whole new set of financial mess. He understood that, took in my income information over the phone of {$1200.00} XXXX XXXX XXXX XXXX XXXX XXXX per month and {$2700.00} at Social Security per month as I'm on XXXX XXXX. I followed it via email ( have the copy of the email and attachments as proof ) by providing my last 2 pay stubs from XXXX and my award letter from Social Security showing my monthly income. The e-mail was sent to the car dealer on XX/XX/2022 at XXXX ( I have a copy of it ) to support my application over the phone of how much I made. Total monthly income about {$3900.00}. 

Well, lets fast forward to just about a month after I purchased the car. I immediately fell under financial stress as the new car sold to me is {$150.00} more per month than my XXXX that I traded in. My accountant reviewed my books and stated that in no way should I have been approved for a {$32000.00} loan making about {$40000.00} per year, with all the other debts that I have. The debt-to-income ratio was nowhere in the ballpark of approval by any ethical bank and lending standard to approve. 

Lets fast forward again, as you can see enclosed, as the Office of the Comptroller of the Currency received a correspondence from XXXX XXXXXXXX XXXX stating that Im making a salary of {$1800.00} at Target per month and {$3300.00} from Social Security? Seriously? Thats a XXXX XXXX discrepancy per year. Who came up with these inflated numbers as I provided my proof of income ( last 2 pay stubs and SS Award Letter ) and these are NOT numbers I had provided. I actually have the dated e-mail to the car salesman on XX/XX/2022 containing my pay stubs that verified my income at or around {$4000.00} per month as proof ( please see attached ). I called XXXX XXXXXXXX XXXX on Friday, XX/XX/2022, and several times thereafter, and asked them where they got the inflated income numbers from, as I want to know who manipulated my income to get me approved when I clearly wasnt qualified due to my debt-to-income ratio. The bank stated XXXX Nissan is the one that did your application, we never saw your supporting employment statements, so ask them. Seriously? 

So, here we are today. I have a car I cant afford and I no longer have my XXXX XXXX that was extremely affordable, no gas to worry about, that worked perfectly with my finances. Now Im stuck with a {$490.00} a month car payment that in no way, shape or form I can afford. All due to the dealership and the bank working in concert in inflating my income to justify getting me approved for a vehicle they knew well I had no business in getting into as my debt-to-income ratio was nowhere near approval numbers. This was clearly a predatory lending scheme with fraud and deception to ruse me into a BAD LOAN that they fabricated my income to get me approved knowing very well that I would not be able to sustain the monthly payment. As Im sending you this complaint today, Im yet to receive a copy of the supposed loan application that Ive never seen for the car I purchased back in XXXX. Somehow no one has my loan application? Something very disturbing has happened here as Im a victim of predatory lending. 


NOTE XXXX XXXX Nissan of XXXX ( above ) never responded to the XXXX asking for a copy of my car loan application that I never filled out by the dealership did electronically on my behalf. Then, the NYS Attorney General 's office tried on numerous occasions to get the information for me so they could review it TO NO AVAIL! Please find an e-mail from the NY Attorney General 's Office with regards to this matter. What is XXXX Nissan hiding? Why aren't they responding to the Attorney General 's office? You and I both know very well why. It's because they embellished my income behind my back to make the math work ( debt to income ratio ) for the car loan and now it's to my detriment as I can't afford the monthly payments due to their bank fraud, which is a felony. 


Regards, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, NY XXXX XXXX -- -- -- -- -- Forwarded message -- -- -- -- - From : XXXX XXXX XXXX Date : Wed, XX/XX/2022 at XXXX Subject : XXXX XXXX of the Attorney General File # : XXXX re Vision XXXX of XXXX To XXXX XXXX XXXX Dear XXXX XXXX : We have presented your complaint to the company. Despite our repeated efforts, they have failed to respond. Unfortunately, we can not assist you further. 

We can take formal law enforcement action only when we have evidence of a business 's pattern of repeated or persistent fraud or illegality. In the case of individual complaints, our role is limited to that of mediator. Mediation is a voluntary procedure, and we can not force either side in a dispute to settle a complaint. 

When the company refuses to cooperate, your only recourse is in court. Small Claims Courts are the most convenient forums in which to file suit. In New York State, you may sue in Small Claims Court for up to {$5000.00}, except in Town and Village Courts where the limit is {$3000.00}, exclusive of interest and court costs. Furthermore, in New York State you must file a small claims suit in the county where the defendant resides, is employed or has an office. An attorney may represent you but is not required. 

Contact your local Small Claims Court for further information and, in New York State, for a booklet explaining how to use the Court. In addition, the XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  ) provides guidance on how to use the Small Claims Courts throughout New York State. For information, visit their website at XXXX XXXX XXXX 

If you have not already done so, you may wish to discuss this matter with a private attorney. In the event you need a referral, I suggest you contact your XXXX XXXX XXXX or, in the alternative, the New York XXXX XXXX XXXX XXXX XXXX XXXX at XXXX. Typically, initial consultations are relatively inexpensive and do not commit you to further representation. This office can not represent individual consumers in court or give individual legal advice. 

I regret that our efforts have not led to a resolution of your complaint. We will keep it on file in the event a pattern of complaints concerning this business develops. 

Very truly yours, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Attorney General XXXX XXXX XXXX XXXX and XXXX XXXX XXXX XXXX, XXXX, NY XXXX Tel : ( XXXX ) XXXX | Fax : ( XXXX ) XXXX | XXXX PLEASE INCLUDE THE ABOVE FILE NUMBER ON ALL CORRESPONDENCE IMPORTANT NOTICE : This e-mail, including any attachments, may be confidential, privileged or otherwise legally protected. It is intended only for the addressee. If you received this e-mail in error or from someone who was not authorized to send it to you, do not disseminate, copy or otherwise use this e-mail or its attachments. Please notify the sender immediately by reply e-mail and delete the e-mail from your system.

Company response to consumer: Closed with explanation