Consumer complaint received 2018-02-26
Company: PRESTIGE FINANCIAL SERVICES INC
State: CA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Problem with additional products or services purchased with the loan

Complaint:
On XX/XX/XXXX, my car was involved in an accident and deemed totaled on XX/XX/XXXX. My auto insurance company is XXXX and the vehicle finance company is Prestige Financial. The GAP insurance company is XXXX XXXX XXXX. I don't feel that I am getting a fair and accurate accounting of my vehicle loan. To my dismay, I discovered that the owner of the car dealership is also the owner of the finance company, GAP company as well as the extended warranty company. Although these are " sister '' companies, I feel that it is a serious conflict of interest and that the consumer 's best interest is not a priority. 

Today, I was told by the GAP company that they are charging for " excessive '' mileage because my insurance company deducted for the mileage. The problem I have with this is that the car was purchased " used '' and already had XXXX miles on it. At the time of the accident, the car had an additional XXXX miles. I purchased the car in XX/XX/XXXX and only put XXXX miles on the car which is XXXX miles under the industries annual standard. 

XXXX had to deduct for mileage as they had to get an accurate estimate of what the car 's current value was, plus it was going to be their car. The GAP company, however, has no right to " charge '' me for mileage that was already placed on the vehicle. So I contacted the GAP company today and the agent stated that it was in the contract that I signed so I asked him to send it to me and highlight that specification. He complied and that is attached to this complaint. As you will read, the highlighted area is extremely vague and NEVER mentions mileage. Luckily for me, I kept an immaculate vehicle and didn't even have door dings as I rarely drove it. Pictures are available as well as sworn statements as to the condition of that vehicle, therefore, the rest of that paragraph which refers to damage does not apply. I should not be held responsible for a previous owner 's mileage, and besides GAP insurance is supposed to cover what the insurance company doesn't minus my deductible. 

The other issue I have is that I feel that numbers are being fudged when it comes to the payoff info and other fees. Today, I was sent a document showing that my payoff was in the amount of {$15000.00}, but that amount is inaccurate. As you will see inside of the attached documents, my insurance company called for a payoff the day that they informed that they would be preparing a check and that was on XX/XX/XXXX. The amount that they quoted to my insurance company was {$16000.00}. 

My issue with this is that on XX/XX/XXXX, I rented a vehicle and drove to the dealership where I purchased the vehicle in XXXX, CA, to cancel the extended warranty. I was told that I had to come in person and I did right away. Later that day, XXXX XXXX who processes the refunds for the dealership sent me an email with a copy of the check that would be going to Prestige Financial in the amount of {$1200.00} which was overnighted. This amount was supposed to be deducted from the amount owing of {$16000.00} which would have made the payoff for my insurance company {$14000.00}. 

This amount was not applied as you will see in my documents that they lost the check, so it was not applied. I didn't find this out until just last week! So I reached out to XXXX again and she stopped payment on the original check and reissued another overnight. It was issued on XX/XX/XXXX. The payoff check from my insurance company was received on XX/XX/XXXX and signed for by XXXX XXXX. 

I have asked for a copy of the breakdown from the finance company and still haven't received it. Instead, I receive a phone call today telling me that I still have a balance of {$1900.00} when I was told before that I would only owe {$1000.00}, which I was prepared to pay. However, once the GAP company told me that the extra was for mileage, I tried to work things out with them but they would not budge. 

I am asking for an investigation of their accounting in reference to my account as there are things that can not be accounted for. The mileage issue is one that I am prepared to take to court for their contract is extremely vague and non-specific. I also have my original contract at the time that I purchased vehicle just in case they try to add something that isn't there. This has been extremely frustrating and unneccessary. I most certainly hope that this can be resolved soon so that we can avoid court.

Company response to consumer: Closed with explanation