Consumer complaint received 2020-01-04
Company: Bridgecrest Acceptance Corporation
State: PA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Struggling to pay your loan
Sub-issue: Lender trying to repossess or disable the vehicle

Complaint:
XX/XX/XXXX - I called XXXX XXXX about getting a vehicle at the XXXX, PA dealership. They ran my credit and told me I was approved only needed {$600.00} down XX/XX/XXXX- I arrived at XXXX XXXX sales rep told me things changed the vehicle was no longer available that I chose ( cheaper model ) and they only had higher priced vehicles available. He also told me that if I really wanted the vehicle I would have to put {$1000.00} down instead of {$600.00}. I explained that I really needed a vehicle and was counting on the lower price car for my budget. They told me the only vehicle they had was a XXXX XXXX XXXX selling for $ XXXX with over XXXX  miles.

XX/XX/XXXX- Came back up to XXXX XXXX my grandparents helped me with my down payment and I took possession of the vehicle. They told me they were going to allow me to make a payment every XXXX weeks of {$210.00}. My total monthly payment was {$420.00}. I told them I could not afford that. They said do not worry we will work with you if you run into any problems.

XX/XX/XXXX- My job laid me off XX/XX/XXXX- I was offered a new job starting on XX/XX/XXXX XX/XX/XXXX- Called Bridgecrest ( Finance Company that XXXX XXXX owns ) who is financing the vehicle and informed them of my situation and that my payment was going to be late. They were rude, called me a liar and demanded I pay my payment.

XX/XX/XXXX- Paid XXXX XXXX my first payment {$210.00} My family assisted me XX/XX/XXXX- Second payment of {$210.00} is due told them I was not due to get my first check until after XXXX  again they were very rude threatened to repo the vehicle XX/XX/XXXX- Received my first paycheck- Called Bridgecrest to pay my bill and they refused to take the payment told me my vehicle was out for repo-later that evening my vehicle was picked up.

XX/XX/XXXX- Spoke to manager who explained that I could not get the vehicle back they made a business decision to resell the vehicle at the same XXXX XXXX dealership. They explained that they would not hold me accountable for the loan and they would return the {$1000.00} down payment. And nothing would be reported to my credit report. I asked for this in writing and they told me they needed to inspect the vehicle and see what mileage was on the car. When I asked why they took the vehicle if it was not 30 days past due she informed me that they do business differently than all of the other finance companies. I told her they do illegal predatory lending practices and they need to be investigated. They put people in vehicles that they can not afford. I picked out a cheaper vehicle and they gave me a higher priced vehicle with a higher monthly payment knowing that I may struggle to pay it but my back was up against the wall since I really needed a vehicle for my job. This company needs to be investigated for their practices. They are doing illegal things to the consumers. I have been trying to get the letter showing that they will not hold me accountable for the loan and that I owe them nothing and that they will not place any derogatory ratings on my credit report and they will return my down payment of {$1000.00}. I want them to be removed completely from my credit report. I asked for a copy of my contract since the repo guy would not let me get a copy out of the car and I still have not received a copy of the contract. They claim part 3 of the contract states that they can repo the vehicle if the payment is not 30 days late. If you look at all of the reviews there are millions of complaints against XXXX XXXX/Bridgecrest they need to be investigated for predatory lending.

Company response to consumer: Closed with explanation