Consumer complaint received 2019-03-19
Company: General Motors Financial Company, Inc.
State: CA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Fraudulent loan

Complaint:
On XX/XX/XXXX I was called by a friend who ask me to co/sign on the auto loan referenced with the attached purchase contract. loan amount was {$42000.00} When I arrived at XXXX XXXX and met with the finance manager, I was asked for my drivers license. The finance manager saw that my drivers license and the now co/borrower had DIFFERANT addresses. We did not live together and were NOT MARRIED. ( See credit application attached ) The finance manager typed the credit application and asked both of us to sign it. Looking at the credit application now I see that the finance manager typed my address and the co/borrowers address as the same and that we were MARRIED.  That was done along with XXXX ( GM FINANCIAL ) to fund the loan on the vehicle. 

Per GM Financials guidelines ( see attached GM financial funding conditions attached ) to fund this loan, XXXX would require the following to fund this loan : 1. ALL APPICATIONS MUST PASS STANDARD IDENTITY VERIFICATION CHECKS. PAGE # 4 ATTACHED. 

( GM FINANCIAL saw that the drivers licenses did not have the same address and the t guideline BELOW would apply ) 2.RESIDENCY : PREFER A MINIMUM OF ONE-YEAR VERIFIABLE RESIDENCE HISTORY. 

3. IF REQUIRED, PROVIDE POR DOCUMENTATION ( UTILITY BILL WITHIN 30 DAYS AND/OR PAY STUB WITHIN 30 DAYS ) TO SUPPORT RESIDENCE ADDRESS. 

# 3 Was required DUE TO DRIVERS LICENSES SHOWING DIFFERANT ADDRESSES. GM Financial did not ask for POR documentation and went against their funding guidelines knowing the Identity verification showed applicants did not reside together and addresses were different on drivers licenses. 

I contacted GM Financial on XX/XX/XXXX. I Explained that the co/borrower had taken the car out of the county and was not making the payments. I also explained that they did not go by GM FINANCIAL guidelines when the loan was approved and funded. they instructed me to send them a documentation package to their legal department. 

On XX/XX/XXXX I overnighted the package directly to GM Financial legal department. ( See attached receipt ) I was diligent and called GM Financial twice a week asking for status. Asking to speak to someone. Only being told it was in review and that the package was being transferred to the Fraud Department. 

On XX/XX/XXXX I received a letter from GM Financial stating they could do nothing for me and that I would need to contact the dealership. ( See attached letter from GM Financial ) GM Financial has guidelines ( Requirements ) set to fund loans. Not only did GM financial ignore the photos ID 'S, They did not ask for ANY POR documents Proof of residency. 

This loan was FUNDED by GM FINANCIAL and now the co/borrower has returned the car I have never been in possession of until now. I have been stuck with a fraudulent loan and car that I can not afford or want. 

GM Financial will not acknowledge they ignored their guidelines to fund this loan. They will not take responsibility for funding a loan they knew required Proof of residency documentation based on the photo ID 'S provided by myself and the co/borrower.

Company response to consumer: Closed with explanation