Consumer complaint received 2018-01-30
Company: Coastal Credit, LLC
State: SC
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Fraudulent loan

Complaint:
Purchased a car from a dealer. Dealer did not pay the floor plan company for the car which made it difficult to get a tag for the car. Before the paper tag expired, the dealership closed down. While speaking with the finance company about the issue with the tag, I contacted the finance company to inquire about having to make payments on the car that I could not drive due to no legal tag. During this conversation, I asked the Director of the company ( XXXX XXXX ) if they could void the contract since there seemed to be some fraudulent activity going on. He told me that was not possible. After 5 months of not being able to drive the car due to no tag, the DMV was finally able to provide me with a tag. The 5 months that the car was parked, my wife & I still made our payments faithfully & on time. XX/XX/2018 we began the process to purchase a home & hired a certified credit consultant. Once our credit was pulled & the car showed up on the credit, our credit consultant asked to see the contract for the car. Due to the dealership advising us that the finance company would send the paperwork ( contract )  in the mail once they received the package & we never received it, we made contact with the finance company to request a copy of the contract. Once receipt of the contract, I noticed there was information that was not true & information that I did not have knowledge of. There was indications that I traded a car for this car ( but I did not ). As well as indication that the finance company of my first car would be paid off ( but it was not ). The down payment amount was not correct. The contract showed a down payment of {$1000.00} when in fact we put {$1200.00} down. There was nothing in the contract about GAP insurance but the dealer told us that part of the down payment would be used to purchase GAP coverage. After looking over the contract we then reached out to the finance company again to inform them of our findings. The rep we spoke with ( XXXX XXXX ) stated that he needed to pass the information along to someone above him and he would have someone from the finance or funding department to contact us. We did not hear from them on the day he promised so we initiated contacted again. At this time we were placed on hold & were told the department we needed to speak with was on another call & would be with us shortly. After holding for 5 mins, XXXX came to the line asking if anyone had contacted us and once told no he stated he would go to the person that was to contact us & make them aware that we were waiting to hear from them. After speaking with XXXX, we then decided to email him. This email informed the company that they seemed unsure about how to handle such a issue therefore, we thought it may help if we told them what we wanted to happen due to this fraudulent contract. We let it be known that we wanted out of the contract with no negative remarks on our credit, we wanted all payments made returned and we wanted them to retrieve their car. 2 hours later we received a email from XXXX XXXX with her direct phone # and asking that I contact her at our convenience. Shortly after receiving the email I called XXXX with my wife there with me and listening to the entire cal. XXXX asked that we start from the beginning with the issue of the loan. I told her about the issue with not having a tag and not being able to drive the car for the first 5 months. She was informed that I tried to see if the dealer had reopened before contacting them. I confirmed there was no car traded in, I informed her the down payment amount on the contract was incorrect and she was also informed that the car that the dealer said was traded is not a car that we own. She asked if the dealer told us to lie to them during the welcome call about the down payment amount and we told her no. We explained that the dealer advised us that the down payment amount that would be stated in the welcome call was because of the way the dealer was going to split the down payment up among the GAP coverage and warranty. XXXX stated 3-4 different times during the call that the contract was definitely fraud. Her exact words each time was " oh, yes maam, this is definitely fraud on their end ''. The call ended by XXXX saying she needed to speak with her manager, let them know what we wanted and she promised to get back with us the nest day. As XXXX did contact me back the next day, she then changed from what she said the previous day and said there was no fraud. When asked why she was no changing what she said from the previous call, she denied ever saying that she admitted the contract was fraudulent and then asked why I kept bringing up yesterdays conversation. Once I realized she seemed to be doing just as dirty as the dealership, I then let her know that the company could keep the money that had been paid on the car but I wanted out of the contract because doing business with their company has been nothing but a headache. We ended the call by XXXX saying she would pass the information of me wanting out of the contract with no negative remarks on my credit even if there was no refund of payments to her manager and " if he would like '', he would contact me. 
XXXX was representing the finance company and stated herself the contract was fraudulent but then after she spoke with other people in the company, she denied ever saying that. Then stated that I was asked about having another car during a welcome call but no we were not.

Company response to consumer: Closed with explanation