Consumer complaint received 2019-11-18
Company: First Investors Servicing Corporation, Atlanta, GA Branch
State: TX
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Problems at the end of the loan or lease
Sub-issue: Problem related to refinancing

Complaint:
On XX/XX/XXXX I was asked to co-sign/borrow for a XXXX XXXX XXXX XXXXXXXX from XXXX XXXX. As this is a subprime loan the APR is 20.58 %, {$11000.00} finance charge, making the {$15000.00} financed, that amount includes {$290.00} for Gap Addendum Waiver into {$27000.00} total. We had signed a contract earlier in the week for a XXXX that was {$5000.00} less but XXXX XXXX XXXX turned down that loan but approved the higher loan. 
I told the sales manager that I did not want to get into a loan with over {$11000.00} in interest, that is a whole other car and I am on Social Security XXXX  and not comfortable with being responsible for it. The manager came in and assured me that the loan could be refinanced without me after a year of good payments, but what he did not say is no one will refinance a car that is over 10 years old and it turned 10 a  week after signing the contract. If I had known that fact I would have never put myself in this kind of debt. 
On XXXX XXXX a letter from XXXX XXXX XXXX  XXXX stated that the payment from the dealership on behalf of your addendum has not been received. And it is their understanding that the payment will not be sent. And the dealership would be responsible for the Gap waiver should there be a total loss. 
After paying for more than a year and a half on XX/XX/XXXX we went to XXXX XXXX XXXX XXXX and they gave us a XXXX that we did not see, showing an accident report that we were not told about and potential odometer rollback indicated and they would only give {$3000.00} in trade. 
I tried to call the dealership but they had closed down by then. On XX/XX/XXXX I filed a complaint with the OCCC and they closed it without sending me any of the proof, I asked for them and in the documents XXXX sent on XXXX XXXX was an inspection for the car dated XX/XX/XXXX with XXXX miles and on XX/XX/XXXX dealer inventory on my XXXX shows XXXX and I have an odometer disclosure with XXXX. From XXXX through XXXX there is a XXXX mile difference. 
Also they sent a document that says Gap Addendum Waiver that we have never seen. The information shows the car as NEW and msrp as {$60000.00}, and the signature of the borrower is a forge, you can clearly tell the signature looks like the sales manager who signed next to it. The name is spelled wrong and the numbers for the date is not how either of us right, I am not even on it but I drive the car. With it came a letter from XXXX XXXX XXXX XXXX, to whom it may concern there is an active policy, when I pulled the policy up it is just a typed document not signed and dated. 
I started calling XXXX XXXX in XX/XX/XXXX asking what the odometer reading is on the title because we have still have not received a receipt and she asked me, don't I know how many miles my car has, I said I want the miles OFF the title and she said they didn't have it there and to go to the DMV. 
By XX/XX/XXXX we were getting a letter from First Investors Financial Services saying we were to pay them now. On XX/XX/XXXX I did a title search and on titlecheck.us the NMVTIS vehicle history report shows the mileage as exempt, and the Power of Attorney we signed can not be used if the car is subject to federal odometer disclosure statement. The application for Texas title does not show exempt it has mileage and the county of title issuance the dealer filled out. I sent a complaint to DMV on XX/XX/XXXX and the investigator said the miles were just typos by the inspection stations and the business closed so they can't do anything. 
I contacted First Investors Financial Services in XX/XX/XXXX and asked the same question about mileage with no response. I finally sent emails to the higher ups and explained the situation and that the sale is void under Texas Transportation code chapter 501 sec.501.073. He asked me was I wanting to voluntarily surrender the car, no I do not, this is no fault of ours and my credit is excellent now and will not except it on my credit and our remedy is to have the contract cancelled and they take the car.

He said they disagree and the car is exempt because it is 10. As I told him, the car was 9 when we signed the contract and that they have a copy of the odometer statement and the title receipt they sent me shows miles as N/A. There has been no reply in 2 weeks. 
I am afraid they are about to do as XXXX and sell my contract and I have to go through more. 
I know there is a violation of the DTPA, Texas Transportation code, Texas Financial code, Federal Odometer Act, Business and Commerce code. Stallion lied to the OCCC. And they sent the OCCC a bill of sale from the auction and they paid a little over {$8000.00} but I am paying {$27000.00} for the same car! And it does not matter if I pay early they are charging more finance charge each time, which my contract says the finance charge would be less. 
We just want out of something we would have never gotten into if not for being led by the manager. We have already had to replace the transmission and the headlight twice in the first year and have paid 3 years on a car with no clean title.

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