Consumer complaint received 2018-01-04
Company: Exeter Finance Corp.
State: MD
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Struggling to pay your loan
Sub-issue: Loan balance remaining after the vehicle is repossessed and sold

Complaint:
I purchased a car from XXXX XXXX XXXX in XXXX DE, a XXXX XXXX XXXX. It was financed through Exeter Finance which was fine and on the up and up until I had to put some payments at the end of the loan. My Mom had gotten into a car accident so I had to take up some of the slack but I was keeping up with my payments. I 've had several car loans in the past and have never had this type of situation where the finance company added extra interest on interest and late fees. With Exeter even when I was past due I would still make a payment. I at one point was making up for the past due amounts by paying {$250.00} 2x a month. For as much as I was past due, my past due amounts being up and down I made 50 payments at {$390.00}. I purchased the car XX/XX/XXXX. When things were getting to where I was trying to tell the car I would ask the reps what I amount owed in XX/XX/XXXX because I was hoping to refinance the amount or sell the vehicle and get a new car loan. It was at this point I was told that for everyday I was past due I was being charged additional interest of about $ 10- {$12.00} a day which amounts to {$300.00} to {$360.00} a month in addition to my regular late fee and car payment. They claimed it was listed in my finance contract and it is not. I do see where it did state I had a 66 month payment plan but each time I called someone would tell me something different. At one point I thought it was a small amount of about {$4500.00} because that amount was close to the would be the amount completing the contract. I had paid them {$390.00} x 50 = {$19000.00}, and the total price due was {$26000.00}. That was an amount that a couple do dealerships I called about getting a new vehicle could work with, not the {$10000.00} and counting. That was the amount they said I owed since I was still past due and counting as long as I as late. I moved because the company that bought the place was raising the rent to get people out. During this time and the time they took my vehicle XX/XX/XXXX, I had paid {$19000.00}. Now the question is when they told me they had taken the vehicle and when I could get my things and them sending it off to auction house is in question. I spoke to a XXXX, I asked when could I come get my things, I said I was able to get them around the end of the week. I went to get my things and the low and behold the car is gone and my possessions were thrown into two garbage bags and they did n't put everything from my car in the bags because I have several things missing, a XXXX CD,  matching Pink vases, clothing and my Winter boots, I have two pairs of boots missing. I asked the guy at the place where I was told my car was which can only be described as a junkyard for a receipt that I got my things he said they do n't do that. I called Exeter to ask why was the car gone, the guy said he told me they had taken it to the Auction place when I asked about my items, he did n't. So then I have to wonder about the letter they sent on XX/XX/XXXX stating to get my car back I would have to pay {$3200.00} ( {$1900.00} past due payments, Unpaid late fees {$410.00}, {$850.00} Repossession Expenses = {$3200.00} ). 

My question is this, if you are telling me this is all I needed to get my car back why would you had taken it to the Auction Yard pretty much the minute they took it before the end of the week. The letter is dated XX/XX/XXXX but the car was already at the Auction Yard XX/XX/XXXX which means they were never going to allow me to get my car back. The Auction date was XX/XX/XXXX, if they were being fair they would not have taken the car to the Auction Yard as soon as they took the car. They sold the car for {$3500.00} but if I were to have paid that amount of {$3200.00} I would still have to pay an additional {$7000.00}. which totaled {$10000.00}. But paying that past due amount would only get me car back and additional late fees. 

What do I want, I want all of my money back, when you read the letters they sent me along with the contract I signed when I first purchased you can see they used predatory actions. With the additional late fees, why would you take the vehicle to the Auction Yard which is in XXXX if you were to going to allow me to pay my past due amounts. This meant I would have to pay storeage fees and everything else that went along with it just to put more fees onto the amount I would owed. I feel this was a predatory loan and they had no plans to sell me the car.

Company response to consumer: Closed with explanation