Consumer complaint received 2021-02-14
Company: HYUNDAI CAPITAL AMERICA
State: NJ
Product: Vehicle loan or lease
Sub-product: Lease
Issue: Problems at the end of the loan or lease
Sub-issue: Excess mileage, damage, or wear fees, or other problem after the lease is finished

Complaint:
On XX/XX/XXXX I leased a brand new XXXX XXXX XXXX for 48 months, 10,000 miles per year at a monthly payment of {$350.00}. At the time, I also purchased a {$490.00} excess wear and tear warranty on the lease from the dealer that would help refurbish the vehicle at the end of the lease to make it saleable. In XX/XX/XXXX, the same dealer ( XXXX XXXX ) contacted me and told me I could get into a new lease. At this time, I just put new tires, new brakes and a brand new windshield on the XXXX. It had 46,134 miles on it as well and was about 3.5 years old. At the time, the same dealer had older models with more miles on the lot for over {$12000.00} asking price. They offered to sell me the vehicle at {$11000.00} but I declined and leased a XXXX instead. The dealer sent a final check to XXXX  of {$2700.00} after doing their financial due diligence and quoting me a new monthly payment of {$350.00}. In the 4 years I owned the vehicle, I was NEVER late or missed one single payment. Months later, I get a bill from Hyundai about disposition fees and dirtier than normal seats and dirty carpets. I asked to see proof that the excess wear and tear warranty up to {$7500.00} was utilized an they refused to show any proof or pictures. They then turn around and sell a less than 4 year old car, with 46k miles, new tires, new brakes and a new windshield at auction for {$6500.00} and want me to pay the balance. This is fraudulent, unethical and immoral & seems punitive since I leased with someone other than Hyundai. They never offered to sell me the car at a lower cost, even the {$8600.00}, which clearly would have made us even. They have no proof they utilized and applied the warranty I paid for which would have certainly increased the value above wholesale/auction cost. The XXXX value in average condition for this vehicle was between {$8000.00} and {$9300.00} for a trade-in or private party. Clearly the {$6500.00} was just giving the vehicle away without any concern for my finances ( as they were just going to charge me any difference they claim ) and there is NO PROOF they utilized the excess wear and tear warranty which would have unquestionably increased the value. What they did should be illegal. I have never missed or been late on any payment in my life and now this situation is affecting my credit negatively. I would have bought the vehicle at a discount, but that wasn't offered and I think it is disgusting that they can just do whatever they want and just attempt to extort my money from me without any regard or input from me about it. They never contacted me after I requested the proof the warranty was applied and the vehicle could be sold for an increased price. I am requesting this be removed from my credit report entirely unless they can prove they applied the warranty and did ANYTHING to try and sell a newer vehicle with lower miles and new items mentioned above at something greater than the lowest selling market ( auction ).

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