Consumer complaint received 2023-01-02
Company: Westlake Services, LLC
State: FL
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Problem with fees charged

Complaint:
On XX/XX/XXXX Westlake financial received my package containing information to rescind the contract Its been brought to my attention that my contract is in violation of federal laws, However I have became aware that I am a federally protected consumer under 15 usc 1601 ( TILA ) So furthermore the new knowledge I have applied when reading over my contract I have seen some inconspicuous things. Starting with '' 15 USC 1605- determination of finance charge, the dealership XXXX XXXX XXXX XXXX a down payment of { {$2000.00} } from me when it clearly states that any transaction that is an extension of consumer credit is suppose to be XXXX  percent In credit. it can not be a mix of credit and cash. This must be sent back to my address at your earliest convenience, via check, I will be filing a complaint with the attorney general pertaining to the fraud that has transpired with this transaction.. 
The US code tells consumers the finance charge '' The finance charge should be determined as the sum of all charges ''. And further states " The finance charge does not include charges type payable in a comparable cash transaction ''. XXXX XXXX XXXX failed to perform by making this clear and conspicuous to me. According to " FINANCE CHARGE '' in the TILA disclosures in the " MOTOR VEHICLES RETAIL INSTALLATION SALES CONTRACT. The finance charge is XXXX but on my credit it was noted I owed XXXX Also in 15 usc 1605 ( c ), charges or premiums for insurance, against loss of or damages to property or against liability arising out of ownership or use of property shall be included in a finance charge. Unless otherwise permitted. XXXX XXXX XXXX failed to make this disclosure to me as well as another violation I notice was 15 usc 1662 ( 2 ) regarding the advertisement of down-payments. I was told by XXXX XXXX XXXX Westlake financial would not accept my credit application unless I had a down-payment 15 U.S. Code 1635 ( b ) - Right of rescission as to certain transactions ( b ) Return of money or property following rescission When an obligor exercises his right to rescind under subsection ( a ), he is not liable for any finance or other charge, and any security interest given by the obligor, including any such interest arising by operation of law, becomes void upon such a rescission. Within 20 days after receipt of a notice of rescission, the creditor shall return to the obligor any money or property given as earnest money, downpayment, or otherwise, and shall take any action necessary or appropriate to reflect the termination of any security interest created under the transaction. If the creditor has delivered any property to the obligor, the obligor may retain possession of it. Upon the performance of the creditors obligations under this section, the obligor shall tender the property to the creditor, except that if return of the property in kind would be impracticable or inequitable, the obligor shall tender its reasonable value. Tender shall be made at the location of the property or at the residence of the obligor, at the option of the obligor. If the creditor does not take possession of the property within 20 days after tender by the obligor, ownership of the property vests in the obligor without obligation on his part to pay for it. The procedures prescribed by this subsection shall apply except when otherwise ordered by a court. 
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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