Consumer complaint received 2020-09-14
Company: TD BANK US HOLDING COMPANY
State: MT
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Fraudulent loan

Complaint:
On or about XX/XX/XXXX I went to XXXX XXXX XXXX of XXXX  to purchase a XXXX XXXX XXXX XXXX for approximately {$43000.00}. I was approved be several banks and based on what the Finance Manager told me I decided to go with XXXX XXXX XXXX because they were offering me a lower interest rate. After approximately 2-3 hours I was finally called into the Finance Manager office to sign all the documents pertaining to the sail of the XXXX XXXX XXXX XXXX. When I completed the signing of the documents and exited the Finance Manager office, the salesman told me, 'Mr. XXXX we can get you into a new XXXX XXXX XXXX. Since TD Auto Finance approved you for the XXXX  we ( XXXX XXXX XXXX of XXXX  ) will tell TD Auto Finance that you changed your mind and DIDN'T PURCHASE THE XXXX but rather decided to purchase the XXXX XXXX XXXX so they would finance the XXXX  and you can take the car home ''. Between both vehicles I purchased on that day, the total was approximately {$95000.00}. After I returned home from the purchase of both vehicles I called TD Auto Finance and made them aware of the misrepresentation that XXXX XXXX XXXX provided to them regarding my purchase of the vehicle they financed, XXXX XXXX XXXX for approximately {$53000.00}. The TD Auto Finance Representative that I spoke to didn't seem in anyway regarding the fraud that XXXX XXXX XXXX of XXXX  presented to the by lying and stating that I decided to purchase the XXXX  rather than the XXXX. I asked the TD Auto Finance if I would've been approved for the purchase of the XXXX if they knew that earlier in the day I purchased the XXXX & the Representative stated " NO '' and that I was taking on to much debt. I was paying $ XXXX  monthly for the XXXX & by purchasing the XXXX  I would incur another monthly expenditure of {$850.00}. I asked the TD Auto Finance if there is anything they can do to help me since this loan was obtained by fraud because of the un factual information XXXX XXXX XXXX of XXXX, Montana provided TD Auto Finance & the TD Auto Finance Representative answer was " return the vehicle ''. I stated to the Representative that by doing that I will ruin my credit & her reply was simply that's your problem that you would have to deal with. I asked her " Don't you think this transaction should be of concern to TD Auto Finance ''. Her reply again was I can take the vehicle back. 

Since the purchase of both vehicles approximately 2 weeks ago I returned the XXXX XXXX XXXX XXXX TO THE DEALERSHIP because they sold me that car unlawfully & unethically. They didn't disclose to me that it was previously used as a rental and after I found out it was I threatened to take them to court and the General Manager, XXXX XXXX told me to take back the vehicle to the dealership & he will comply with my command of reimbursing me approximately {$3000.00} and paying off my loan with XXXX XXXX XXXX. In closing, I recently found out that XXXX XXXX XXXX knowingly & willingly failed to provide me an additional {$1000.00} manufacture rebate which I'm currently addressing with the XXXX XXXX XXXX.

Company response to consumer: Closed with explanation