Consumer complaint received 2020-07-24
Company: WELLS FARGO & COMPANY
State: IA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Problems at the end of the loan or lease
Sub-issue: Problem with paying off the loan

Complaint:
Dear customer service or complaint office : To whom it may concern : Today is Friday, XX/XX/XXXX This last XXXX, almost XXXX I entered into a deal with XXXX XXXX in being led to buy a XXXX convertible  through a man that I met in my home town that hired me to help him at his house with various jobs concerning his business XXXX XXXX in XXXX  XXXX. I did not know at the time that he had filed bankruptcy with the business or was a known liar and a XXXX. I have had my XXXX XXXX   for over 28 years in this XXXX Iowa area in XXXX  and he contacted me to help him with fixing his credit and wanted to hire me to do XXXX work at his home in XXXX XXXX near XXXX XXXX. I agreed to work with him on a temporary basis for a couple of weeks during which time he wanted to get a very expensive car thru a XXXX XXXX at XXXX XXXX. The car was the said XXXX and he introduced me to his bank : XXXX XXXX  @ XXXX XXXX  XXXX XXXX. in the XXXX XXXX area. The managers name there was XXXX and XXXX XXXX told me in front of XXXX that he had a {$30000.00} CD to cover the expense of the car if he got it.

We went to XXXX XXXX to test drive the car and the bottom line is he talked me into signing the paper work for the car because he planned on paying me back completely or paying off the car with the CD within a week but we had to originate the loan and the only bank that offered us the loan was Wells Fargo and the dealership was very excited and pushy and tried to get us to get it DONE on the spot and XXXX XXXX was very intense and said to all of us " Oh no problem we will get it done, get it done asap and i'll pay you out of my CD!!! He bragged about everyone he knew in town that was in business and he promoted XXXX   XXXX  to other businesses that he knew in town, he was grooming me to get his trust and his confidence and friendship and he was a wolf in sheeps clothing to me! 
The bottom line is he presented himself to me as an honorable guy and took advantage of my innocence and generosity. I trusted him to pay me back and during the time I was working for him from XXXX XXXX until the second week in XXXX right before everything started shutting down because of Covid he was promising me he would re write the loan thru his bank against his {$30000.00} CD. 
Well I went with him to his bank then they said they were going to close his account and when I got to the dealership and told them about it they said they did not want to deal with XXXX XXXX and I had already signed the paperwork ... .and when I told and explained it all to the bank they agreed with me that it WAS INDEED A STRAW purchase and fraud on his account. 
I will try to send you the supporting documents from E MAILS that we have done back and forth.. ..that is Wells Fargo executive offices ... they said that they were going to rewind the loan for sure with the dealership for sure in supporting e mails. thanks. 




FROM : XXXX Case # XXXX MonXXXX XXXX  XXXX, XXXX XXXX  to me, AND XXXX Note to you AT CFPB This is one of the first letter the executive offices sent to me! 

XXXX, I have submitted this up to an escalated management team for review as I agree with you and want to continue to advocate for the outcome we are hoping for. As of right now, they are still currently reviewing the case and will give me an update when there is one available. As soon as I get one, I will give you a call. I appreciate your continued patience. I will do my best to continue to assist you. Thank you. 

XXXX XXXX XXXX offices Wells Fargo next e mail :!!! 




XXXX Tue, XXXX XXXX, XXXX XXXX to me XXXX, I have great news. The escalation team has agreed to yours and Is request for the unwind. I am going to reach out to the dealership to get that process started. Please be ready for a call from me and or possibly the dealership in regards to setting up the return of the vehicle. I will reach out once I have gotten the process started. 



Respectfully, XXXX XXXX XXXX Executive Office Case Specialist II Executive Office Auto Wells Fargo Auto | XXXX XXXX XXXX XXXX XXXX  XXXX | XXXX, MN XXXX XXXX : XXXX XXXX From : XXXX XXXX XXXX Sent : Tuesday, XX/XX/XXXX XXXX XXXX  -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- - **** note : Clearly the Bank has agreed to RE WIND THE LOAN with the dealership here!! Then I got this e mail from them a few weeks later.. .. 
I have supporting documentation also that they would for SURE do it becasue XXXX gave me paperwork on it that he was going to pay me on it at the attorney XXXX XXXX office in XXXX XXXX for the car. 
HERE is the next e mails :!!! thank you. 





XXXX Tue, XXXX XXXX, XXXX XXXX  to me XXXX, At this time, please just continue to be patient. I am working diligently with my management team and the dealership to get this process done correctly. I will follow up as soon as I have some direction. Thank you. 



ello XXXX, I cant speak for everyone up here in Minnesota, but I do know that for the most part we are all trying to abide by the governors stay at home requests to try to limit this epidemics effect. 



In terms of how long this may take, I unfortunately do not have a timeline. Your case has been escalated up to 2 levels above myself as an outlying case I felt needed additional review. I can only provide you updates as I get them. I assure you, as soon as I get one, you will be my next immediate call. 



If Mr. XXXX is willing to take over the vehicle, he would need to apply for a loan to purchase it from you. It does not need to be through Wells Fargo, as it can be through any financial institution. Alternatively he can purchase it outright from you via cash or check that you can use to pay the loan off and then sign the title over to him. Based off our previous conversations, it does not seem that he has that kind of capital in order to purchase it outright. Additionally, it sounded like he wasnt able to get approved for a loan prior to this whole fiasco as well. In the interim while your case is being reviewed, if you two come to an agreement for him to make the payments for you that would be something you two would need to discuss as I can not advise on a personal agreement. That may be an option worth  discovering if you so wish. 



A last resort option is to sell the car outright to the dealership or attempt to sell it privately to a private buyer. If there is as remaining balance, you would still be responsible for that amount. You could work something out with Mr. XXXX regarding that amount since he was the one who put you into this in the first place. 



I again, appreciate your patience and am checking for updates daily for you regarding the case. 



Respectfully, XXXX XXXX XXXX Executive Office Case Specialist II Executive Office Auto Wells Fargo Auto | XXXX XXXX XXXX XXXX XXXX  XXXX | XXXX, MN XXXX XXXX : XXXX XXXX To XXXX... .Thank you for your response ( this has not been sent back to XXXX ) draft only. ANY suggestions? 

I do not know financially what XXXX can or can not do with this loan. 
He needs to apply for something. He does not know which end is up or down. He will NEVER GET A LOAN at all from WF. or from any bank at this moment for that matter. If he could've gotten the loan in the first place he would have. 
He was wanting to PROVE TO YOU GUYS that he wanted the loan in the first place. 

Now am I have fought for good credit for TWO years now.. ..and I would hope as a customer of WElls Fargo that you can represent me in this. ) I ' am looking to get out of this because as XXXX admitted he wanted it in the first place then he pushed me into signing for it and yes i was excited about getting the car of course!! only because HE SAID HE WOULD GET IT WITH HIS CD right away afterwards which he did not have and LIED about!!!! 

I am NOT on the best of friendly terms with him at all but on a very angry level. YES I WAS purposely misled for not having him just buy the car himself and walk away, I made a mistake trusting him. I am only talking to him to see if he will get the loan away from me and I'm beside myself. I hear your suggestions to me and will take them as a last resort. 


Thanks SO MUCH for your help in this. 





XXXX  " XXXX '' OFFERED now on XXXX and XXXX XXXX and XXXX XXXX XXXX, XXXX XXXX XXXX XXXXXXXX XXXX  XXXX, published in XXXX and XXXX  XXXX  XXXX XXXX. 
XXXX XXXX XXXX XXXXXXXX. Above Photo : XXXX XXXX  XXXX XXXX XXXX XXXX XXXX missions on going now! 
We appreciate your support!!! 

for now this is it with all the supporting documents!!

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