Consumer complaint received 2020-10-22
Company: HYUNDAI CAPITAL AMERICA
State: NV
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Billing problem

Complaint:
I have a car loan with Kia Motors Finance for a XXXX XXXX XXXX. I have been faithfully and responsibly paying my monthly obligation of {$480.00} since XX/XX/XXXX. In XXXX of XXXX, I began making additional payments to speed up my loan repayment with the goal of paying it off this year ( XXXX ). I paid approximately {$14000.00} extra. All was going well until I saw my XX/XX/XXXX billing statement. Considering that my XX/XX/XXXX statement had a payoff amount of {$7500.00}, I was shocked to see that the payoff amount on the XX/XX/XXXX statement was {$8700.00}! According to my calculations and the Principle Balance listed on the Account Details section of my online account, my balance should've been {$2500.00} after make a {$3000.00} additional payment. It appeared they had not subtracted the amount that was applied to principal from the previous balance. Even with that, the payoff amount was way off base and made no mathematical sense. 

I called Kia Finance Customer Service on XX/XX/XXXX to try and resolve the issue to no avail. I was transferred to a supervisor but then I was cut off and had to call back and go through the whole things again. The supervisor I spoke with told me it was an error and that there something wrong with the system and that it would get fixed. Well ... it did not get fixed so I called again a couple of week later on XX/XX/XXXX and spent quite some time on the phone explaining this problem. The representative agreed it looked like an error so she sent an email to " payment processing '' and said to check back in a week or so. I did that and still there was no updated status. I spoke with another supervisor who also agreed there was an error and re-sent an email to " payment processing ''. I called yet again a couple of weeks later, still no response from " payment processing ''. I began to wonder if payment processing even existed. 

I decided to wait until I got my next statement. Still the same error. I called again. Then I decided to wait a few weeks. Well, now it's been a few months and still no resolution. I just called today XX/XX/XXXX and, unbelievably, I had to go through the whole story AGAIN and they told me the same thing that all they can do is email " payment processing, '' which seems to be some sort of black hole from where no one returns, since they don't response to even customer service. That certainly doesn't give me, a customer, much confidence! 

I asked whether there was some sort of escalation process in these situations since it had been XX/XX/XXXX when the first email was sent to payment processing and they still haven't gotten to it and it's now XXXX? Kia Motors Finance Customer Service told me that that's all they could do and there was no one else to contact. I asked who " payment processing '' was and if there was a manager for that group and I was told that there are " people in the group '' ( well, I HOPE so! ), but they don't know their names? Wow. I even told them as a last resort I was going to have to write to their executives or seek assistance elsewhere. Apparently, they don't care.

At this point, I really need to resolve this as I'd like to pay off the loan and the remaining amount is so little ) {$280.00}, but the payoff quote comes back as {$5000.00}. I feel as if they are keeping my car hostage. I will never do business with Kia again.

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