Consumer complaint received 2023-12-15
Company: Buffalo Auto Acceptance Corp.
State: NY
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Confusing or misleading advertising or marketing

Complaint:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX 
XXXX XXXX, NY XXXX RE : DEMAND LETTER FOR SETTLEMENT PURPOSES ONLY. 

To Whom It May Concern, On XX/XX/XXXX, I visited your dealership with the intention of purchase a XXXX XXXX XXXX and we agreed to make this commercial transaction for an amount of XXXX XXXX, XXXX XXXX XXXX XXXX ( {$15000.00} ) plus taxes and a sum of XXXX XXXX, XXXX XXXXXXXX XXXX ( {$1300.00} ) as a down payment which was to be applied towards the purchase price of the above-referenced vehicle. 

Shortly after purchasing the vehicle from your dealership, the vehicle began to fire misfire. Reason why I had to take the vehicle inspected to an independent repair shop, XXXX XXXX, to get it fixed. 

Likewise, when reviewing the retail installment contract signed with the dealership and the VIN report it can be noted that there are many inconsistencies and fraudulent handling from the dealership that I will proceed to detail below : - According to the VIN report the vehicle cost on XX/XX/XXXX, was XXXX XXXX, XXXX XXXX XXXX XXXX  ( {$12000.00} ) but the Dealership sold it to me in XXXX XXXX, XXXX XXXX XXXX XXXX  ( {$15000.00} ) two years later, so that the price for which I bought the vehicle was not even close to the real price based on what the VIN report says, being a clear example of bait and switch. 

- There are unauthorized add-ons items included in the retail installment contract such as Dealers Optional fee ( {$170.00} ) that maliciously inflated the purchased price of the vehicle. 

- The retail installment contract presents illegal finance charges, where the APR is 24.95 % and the dealership is making me pay 2 weekly payments of {$370.00} each, 82 weekly payments of {$270.00} each and a final payment for {$170.00}, which means a total of XXXX XXXXXXXX, XXXX XXXX XXXX XXXX  ( {$23000.00} ), where XXXX XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX {$7500.00} ) is going only towards the interest. That is irrational, illegal, and unjustified and the terms of the loan extended to me, including the high-interest rate and down payment requirement, seem to be predatory in nature.

I have suffered substantial financial loss, aggravation, and loss of time at work by having to pay additional interest and finance charges because of the dealership misappropriating the down payment. In the same way, I have lost the benefit of a lower interest rate, resulting in a significantly higher finance charge. Furthermore, the dealership has improperly passed on its lender fees to me, which are solely the Dealer 's responsibility and are the cost of doing business with the lender, even though doing so is against the TILA Act and prohibited by your lenders, the dealership nonetheless passed the fees along to me. 
Below is a list of consumer laws, Department of Motor Vehicle violations, and fraudulent activities that were found in the above-referenced purchase transaction and what your dealership might face : I. Illegal finance charges ( the passing through of lender fees, aka ; seller processing fee or lien fee to the customer ).

II. Financing fraud ( Issuing a high-interest rate to a customer that is not reflective of the customers true credit score ).

III. Misappropriation of a customers down payment ( Using a customers down payment to purchase unauthorized add-ons such as service contracts, GAP insurance, etc. ) IV. Predatory lending.

V. Selling an unsafe vehicle.

VI. Bait and switch advertising. 
VII. Altered, or Failure to provide a vehicle history report ( XXXX, XXXX, etc ). 
VIII. Consumer fraud.

IX. Lemon law violation.

X. Tort law violation.

It is important to highlight that in this type of transactions I am, as a retail purchaser, legally defined as a consumer and in consumer sales the Dealership is legally accountable as an " expert '' in its trade and as an " expert '' is held to a duty of " knowing or should have known '' as to the condition of its inventory offered for sale and also have a duty to conduct business in the spirit of " good faith and fair dealing ''. Likewise, the dealership has a general common law duty to exercise reasonable care in inspecting vehicles offered for sale for the purpose of detecting defects that would make the vehicles dangerous, thats why this is a clear situation when the vehicle can be classify as a lemon and also the entire case as a violation of the tort and consumer law that has resulted in monetary loss, aggravation, and loss of time at work.

Considering these egregious actions, I am here to demand the following : - Replace the vehicle for another vehicle that meets the standards of merchantability with new, legal, and fair financing terms. 

- A compensation of XXXX XXXX XXXX XXXX XXXX XXXX XXXX {$12000.00} ) in consideration of the unethical, predatory, and fraudulent actions from the dealership, damages, and financial loss. 
If your dealership does not respond within 15 days of this letters receipt and adequately to these demands, I am prepared to pursue all legal and equitable remedies, in addition to filing a claim against your surety bond for damages and correspondingly filing a complaint with the appropriate state agencies such as the Department of Motor Vehicles, the Attorney General Office, FTC, and the Consumer Financial Protection Bureau. Moreover, I shall file a formal complaint with the lender whom your dealership used to finance my purchase, advising the lender of your unscrupulous business practices. These are relationships that your dealership can not afford to lose over one unhappy customer because losing them will be detrimental to your business. It is my desire to not seek to hurt your dealership or the professional relationships your dealership has established, nor escalate to arbitration or litigation, but rather reach an amicable resolution.

However, I am prepared to take these necessary measures to reach a resolution that makes me whole. I am giving you the opportunity to make this right, or your surety bond will do so on your behalf, but not without detrimental consequences. Govern yourselves accordingly and do the right thing.

I look forward to your response within the specified time frame. 

Sincerely, XXXX XXXX XXXX

Company response to consumer: Closed with explanation