Consumer complaint received 2021-10-02
Company: HYUNDAI CAPITAL AMERICA
State: NC
Product: Vehicle loan or lease
Sub-product: Lease
Issue: Struggling to pay your loan
Sub-issue: Denied request to lower payments

Complaint:
In XXXX XXXX, I leased a vehicle with Hyundai Financial . This is the exact time the world was stopping due to the Coronavirus Pandemic. The day after I provided a down payment of {$5000.00} and signed my lease papers, I was laid off from my job. This was due to government restrictions and the overall economic situation that government closures had on many businesses. After layoff, I was become no longer able to afford this vehicle. 



I immediately called for some help and/or relief. I offered to return the vehicle to the dealer since it was a only a day leased. I was unable to obtain any accommodations. The dealer would not take the vehicle back and I was unable to get in touch with Hyundai Financial to discuss hardship options.

After multiple months of trying to contact Hyundai Financial and being unable to speak with a representative due to phone capacity on their part, I was offered a three month deferral on payment as the ONLY option for my hardship. I accepted this offer, but this offer was subsequently reduced to two months which I dont understand why. Please note, this reduction of terms after being is a deceptive practice as it goes against the prohibition of unfair, deceptive, or abusive acts or practices. Specifically, Hyundai Financial promised one thing, then didnt honor the commitment on a material term of the financial agreement. 



I have been exploring options to try and sell my car and payoff the lease payment. I was thinking of selling my car to used car companies and payoff the lease. However, these companies will NOT buy a car off a Hyundai Financial Lease. They have indicated Hyundai Financial will not allow the car company to pay off the lease and buy the car off the lease. I looked at my lease contract and was able to find the provision that prohibits this type of sale to the third party. It was buried in the fine print of the contract that was not discussed with me upon signing. This type of provision is unfair as it restrict my rights to sell the car off the lease ( for the amount of the payoff ) whereas Hyundai Financial is paid the full amount for the car. This provision provides substantial harm to me, and was not reasonable avoidable by me as it wasnt discussed with me prior and was buried in the contract. Accordingly, not allowing the vehicle to be sold and tender the payoff amount to Hyundai is against public policy and is prohibited by the prohibition of engaging in an unfair act or practice. I have expended lots of effort into this and am tired of continuing this route because of Hyundais unwillingness to work with me. 



Now, Hyundai financial will not work with me due to my continued hardship on paying the vehicle. I am a XXXX year old woman, on a fixed income now and am unable to find employment. 



As a loyal customer of Hyundai Financial, I would like to believe that they are a honest and ethical company ; however, their unwillingness to work with me in my time of need seems to be discriminatory. Is it that they wont work with me because I am a woman? Because I am elderly? Because I am single? Because I am now on a fixed low income of only social security? I continue to think, would they be treating me the same way during my hardship if I were a man? If I were married and could get my husband to speak to them? Or, if I were younger and more sophisticated? 



In my multiple leases with Hyundai, I have never missed a payment. Never. However, in the current economic environment, I must make choice of putting a roof over my head and food in my mouth and make the car payment. Making the car payment is not sustainable. I simply can not afford it. 

I ask for your help, please.

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