Consumer complaint received 2018-03-20
Company: General Motors Financial Company, Inc.
State: OH
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Credit denial

Complaint:
On XX/XX/XXXX I applied for an automobile loan through XXXX XXXX for the purchase of a XXXX XXXX XXXX XXXX. On XX/XX/XXXX, Finance Manager XXXX XXXX informed me she had a lender approved. She gave me terms on the loan and I asked if she could look into adding an extended warranty. She told me it would be difficult because i was already close to max payment bank allowed. I understood that i had a higher interest rate and payment because I was coming out of a newly discharged bankruptcy. I took a couple of days to consider the loan and look into obtaining an extended warranty on my own. 

On Monday, XX/XX/XXXX, I called XXXX XXXX and told her Id like to test drive the car one last time and make a decision. After test driving that evening, I learned XXXX XXXX was the lender and I gave a partial downpayment in the form of {$650.00} signed paperwork to purchase the vehicle. There were some minor repairs being made to the car, so I was told I could pick up the vehicle and finish paperwork and pay remaining downpayment on Wednesday, XX/XX/XXXX. The vehicle was not ready until the evening of Thursday, XX/XX/XXXX ( there were still repairs that were not completed but that is another story ). On XX/XX/XXXX, I paid the remaining {$1300.00} down payment and took possession of the vehicle. 

Over the next two weeks XXXX XXXX and I communicated on several issues related to the vehicle. She did on at least two occasions inform me XXXX  was trying to verify my employment. I told her the owner stated he did have any messages from XXXX but if I could get a contact number he would be happy to call them. I requested contact number from XXXX XXXX, no response. On XX/XX/XXXX, I received what was called a " welcome '' a call from XXXX. The call consisted of my answering questions related to my employment, residence and information on the vehicle. I thought this call would suffice for my employment verification. Obviously, it did not. On Wednesday, XX/XX/XXXX, I received a call from XXXX XXXX regarding verification. Via text asked could she provide a number my supervisor could call. No response. On Thursday, XX/XX/XXXX, I looked up XXXX 's contact and i sat in my supervisor 's office while the company owner confirmed my employment to XXXX 's funding department representative. 

On Monday, XX/XX/XXXX, I received notice from XXXX XXXX that the bank denied the loan and the vehicle needed to be returned. Per XXXX, the bank alleged fraud because they claimed their confirmation process yielded me as the company owner ( per Ohio Secretary of State public records the company is actually owned by XXXX XXXX and XXXX XXXX ) and an issue with the type of pay stubs submitted from my employer. I called XXXX to ask for clarity and fraud was never mentioned I but was told the loan was denied due to " income ''. I continued to ask exactly what does that vague statement " denied due to income '' mean. What about income, not enough, too much, what exactly??? .Fair credit reporting laws would dictate a clear and concise reason for credit denial. I was told all questions had to be directed to dealer. When back to the dealer the dealer say lender alleges some type of fraud because they had difficulty or used incorrect information from a third party in verifying employment ( even though employer contacted them directly on XXXX ) and denying credit. 

I contend if they truly thought I was the owner ( which would have rightfully put my loan into the self employed category ) it could have been easily resolved by looking at public records to confirm the actual owners. 

This denial of credit based on incorrect information that could have been easily verified has created a hardship for me as I am just coming out of a discharged bankruptcy and I'm in the credit rebuilding process. I also passed on other opportunities to purchase a vehicle through another dealership which may not have been this frustration. Furthermore, I have several new inquires form XX/XX/XXXX-XX/XX/XXXX based on XXXX XXXX attempting unauthorized financing attempts from other lenders. 

I think all of this has been highly unethical and I feel as the consumer I have been dealt with in an illegal manner.

Company response to consumer: Closed with explanation