Consumer complaint received 2020-02-18
Company: PNC Bank N.A.
State: GA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Confusing or misleading advertising or marketing

Complaint:
To Whom It May Concern : My name is XXXX XXXX, and I am the owner of a XXXX XXXX  XXXX, VIN : XXXX ( the Vehicle ), purchased on XX/XX/XXXX ( the Purchase Date ). The Vehicle was purchased from XXXX XXXX XXXX located at XXXX XXXX XXXX, XXXX XXXX, GA XXXX ( XXXX ). This letter is written for the purpose of describing to you my negative experience with XXXX and the XXXX brand. 
To purchase the Vehicle, I worked with the XXXX XXXX XXXX department ( XXXX ). At the time I purchased the Vehicle, XXXX had an ongoing offer for UX XXXX models in which a purchaser, with approved credit, would receive a 0.00 % APR ( the Offer ) for new vehicles financed through XXXX XXXX XXXX ( XXXX ). The  Offer was set to expire on XX/XX/XXXX. Please note that I have an extremely high credit score and minimal outstanding debt. If any special offers based on credit exist, I am highly likely to qualify for them. 
The Extremely High APR Nonetheless, to my detriment, I was NEVER informed of the Offer. Instead, I received another offer involving a relatively unfavorable interest rate. XXXX offered me a 4.99 % APR with PNC Bank to cover the balance of my loan, and I purchased the Vehicle using the loan from PNC Bank. In addition, as a down payment, I traded in a completely unencumbered 3-year-old vehicle. 
At the time of financing, XXXX stated that the 4.99 % APR is the best that they can do for me. Immediately, I informed XXXX that I had a credit score of over 830, and  that I wanted to use another bank. To my dismay and disappointment, XXXXs reply was that XXXX  does business with ONLY PNC bank. 
To begin, this is not a sound business practice, as car dealers should never limit themselves and their customers to only one financing option. The customer is always at a disadvantage in these circumstances due to the lack of competition from other banks. Second, in this and similar circumstances, dealerships are promoting schemes which allow the subject bank to monopolize the dealerships customer market base. Third ( and most importantly ), I was previously familiar with XXXX XXXX, as several relatives have used their services. I was aware that XXXX does business with ALL XXXX dealers. Thus, I knew that XXXX was not fully disclosing to me all of my options. This immediately caused me to lose trust in XXXX, XXXX, and the all related entities promoting the XXXX brand. 
When XXXX informed me that they work with only PNC Bank, I requested to use my own bank. XXXX immediately replied that I WOULD LOSE the {$2000.00} rebate which had been allowed when I purchased the Vehicle. 
The story gets better. Since I trade cars every 3 years, and since my cars are paid off in 3 years, I had a fair amount of equity in the vehicle used as a down payment. Despite this, XXXX zealously attempted to convince me to take a lease on the Vehicle, a transaction which would leave me with no benefit at the end of the contract. I tried to explain this to XXXX, but the representative continued to attempt to convince me that it would be more beneficial for me ( ridiculous ).

2 of 12 Thus, XXXX continued to provide me with an increasing number of false statements and at that point, they were coupled with a completely self-serving attitude. 
The Coercion I made it clear to XXXX  that a lease was not an option for me, but XXXX still pushed the issue. In addition, by XXXX threatening to disallow the {$2000.00} rebate if I did not accept the 4.99 % rate, I was coerced to take the 4.99 % APR offer from PNC bank. 
AT NO TIME was the 0.00 % APR mentioned to me by XXXX. I discover the rate when I returned home. Again, the rate was never offered or mentioned to me at any time during the prior negotiations of the Vehicle purchase.

In addition, I researched the PNC Bank APR for new car loans ( see PNC attached. file table caption ) for XX/XX/XXXX. Nowhere on the table is there a 4.99 % APR. The closest is a 4.64 % APR for XX/XX/XXXX-XX/XX/XXXX used car models. For newer vehicles, the highest rate was 3.84 % for XX/XX/XXXX-XX/XX/XXXX models. The 4.99 % offer I received was 1.15 % ( 4.99 % -3.84 % =1.15 % ) greater than the rates PNC bank was actually offering on the Purchase Date. How much higher of an APR does the FTC allow a dealer to go over the rate provided by the lender? I might be wrong, but I believe the allowed overage is only 1 %. 
The Deceptive Trade Practices XXXXs conduct in which it failed to disclose to me my options falls under Ga Code 10-1-372 of the Uniform Deceptive Trade Practices Act.1 This rule applies in the following situations : ( a ) A person engages in a deceptive trade practice when, in the course of his business, vocation or occupation, he : ( 3 ) Causes likelihood of confusion or of misunderstandings as to affiliation, connection, or association with or certification by another ; ( 9 ) Advertises goods or services with intent not to sell them as advertised ; ( 10 ) Advertises goods or services with intent not to supply reasonably expectable public demand ; ( 12 ) Engages in any other conduct which similarly creates a likelihood of confusion or of misunderstanding.2 It is clear to me that XXXXs trade practices were deceptive. They created confusion concerning the option to use the services of XXXX when they failed to disclose to me my ability to use XXXX services, and receive the benefit of the 0.00 % rate. Further, the XXXX advertised rate not offered to me indicates that XXXX did not intend to sell the services as advertised, and did not intend to supply the offer to a reasonably expected public demand. Lastly, XXXXs sole 4.99 % offer and statement that they only worked with PNC bank and that the 4.99 % is the best they can do, when they clearly had the ability to offer me the deal with XXXX, created a misunderstanding concerning all options available to me. 
Thus, XXXXs behavior clearly falls well in line with the rules describing deceptive trade practices in Georgia.

1 GA Code 10-1-372 When trade practices are deceptive, Uniform Deceptive Trade Practices Act.

2 I.d .

3 of 12 The Loan Transfer As a result, TWO days subsequent to the Purchase Date, I transferred the PNC bank loan to my bank, immediately receiving an offer of a much more favorable 2.58 % APR. To be honest, I felt as if I had been robbed by XXXX and disrespected. 
Communications with XXXX Customer Service Due to my increasing level of discontentment and dissatisfaction with XXXX, XXXX, and XXXX, on XX/XX/XXXX, I emailed XXXX XXXX ( XXXX ), the General Manager of XXXX. I described my experience with XXXX, but I did not receive an immediate response from him. 
Subsequently, I twice contacted " XXXX XXXX XXXX  '' ( XXXX ) ( reference number XXXX. ), informing them of the unfair financial practices of XXXX. 
The first time that I notified XXXX, I received a response from XXXX XXXX, Customer Relations Manager at XXXX, XXXX. However, she did not contact me directly. Instead, she responded to my review of XXXX on XXXX. 
This is not a professional way of contacting an unsatisfied customer, who recently spent tens of thousands of dollars on a product and due to the negative treatment received, provided the company with a negative public review. I believe that an answer to the review is warranted only after the matter has been settled. This behavior indicated a lack of concern on the matter from XXXX and XXXX, and a lack of respect for the client. The attitude was that of we do not care ; we already have your money. Below is the link to my review, together with Ms. XXXX reply. 
https : XXXX, XXXX! XXXX! XXXX! XXXX! XXXX! XXXX! XXXX After I initiated first email contact, her reply is also included in this letter. Observe the dismissive tone with which her response begins. This exemplifies the attitude of an individual who has not given any importance to a subject as delicate as the one at hand. The worst part of it is that her very job is to promote positive customer relationships. 
Further, Ms. XXXX email response simply focused on the view that I had elected the {$2000.00} rebate over the 0.00 % APR. This is false. When you elect, it is because you were given the opportunity to choose. How is it possible that I elected something if I was never given the opportunity to choose, or even informed of the 0.00 % rate? More lies, more lack of respect. The email mocks my situation when she states that : We would have been happy to switch you over to the promotional APR percentage, add the {$2000.00}. To me this sounds like the attitude of a dishonest, shady business. This also indicates an ongoing lack of respect concerning my case. I was never given the choice ; I was told at XXXX  : sign here to get your {$2000.00} promotional rebate. I was never informed about the 0.00 % APR. 
An hour later, after the second time XXXX followed up ( reference number XXXX ), Mr. XXXX contacted me. The response from him came only 11 days ago, while he was at the airport headed out for business travel. He called simply to inform me that he was going to contact me upon his return. Since I am still awaiting his call, he must still be on his business trip. More lack of respect, more lies. 
This was my first experience with the XXXX brand. The treatment I received consisted of the following : constant lack of respect, deceptive business practices, and lack of fair credit practices. I am fairly certain this business practices will not score well with the FTC. 

The Discrimination Perhaps I received this treatment because I am a 63-year-old XXXX. Perhaps XXXX tries to take advantage of minorities and seniors, or perhaps XXXX  is simply a shady place to do financial businesses, business which is tied to the XXXX name. 
To say the least, my first experience with XXXX has not been very satisfying. I researched past reviews of XXXX and discovered that in the XXXX area, the dealership at the time had only 2 stars. Most of the reviews are negative because others have also felt that the XXXX business is conducted in a deceptive manner. ( XXXX XXXX XXXX ). This is a bad sign for XXXX. 
I am sure that this is not the case with all XXXX dealers, but this was my first XXXX experience, and I have never been treated like this in a dealership. It definitely gave me a detrimentally negative perception of XXXX and its services, and it made me apprehensive to go to any other XXXX dealer, even for the required maintenance on the Vehicle. 
Summary of the Facts When I signed the finance papers, I was told by XXXX " sign here to get the {$2000.00} rebate on the Vehicle ''. There was NO MENTION OF THE 0.00 % APR. NO CHOICE. Also, the high 4.99 % APR with PNC bank was obtained through deceptive business practices and untruthful statements, THE BEST APR XXXX  CAN GIVE ME, in spite of my credit score being over 830 at the time of purchase. Further, XXXX used the {$2000.00} rebate with the Vehicle as LEVERAGE to coerce me into taking the unfair 4.99 % APR, when PNC bank was not offering an APR anywhere near that rate on the Purchase Date ( again see last page ). Lastly, XXXX knew that I was going to transfer the loan, so I was told do not transfer the loan for 2 weeks, a request which I disregarded, as they had already lost my trust.

MY REQUESTS OFFERED 1. AT THE TIME OF NEGOTIATING THE PRICE OF THE VEHICLE, SINCE I WAS NEVER ALLOWED THE OPPORTUNITY TO SELECT THE 0.00 % APR, I AM REQUESTING THAT XXXX  TRANSFER THE BALANCE OF MY NEW LOAN FROM MY CREDIT UNION TO XXXX XXXX XXXX, USING THE 0.00 % APR WHICH WAS APPLICABLE TO THE VEHICLE AT THE TIME OF PURSHASE UNTIL XX/XX/XXXX ; 2. IN ADDITION,, SINCE MS XXXX AND MR XXXX BROUGHT IT UP AND IT IS THEIR MAIN CONCERN IN THE CASE, I WANT, THE {$2000.00} REBATE TO REMAIN APPLICABLE. 
3. It is worth mentioning, as I told Mr. XXXX over the phone, ( before he interrupted me to ask me if I was pretending to get the 0 % APR AND THE {$2000.00}? ), all I originally wanted from XXXX was a SINCERE APOLOGY. But Mr. XXXX and Ms. XXXX kept asking if it was my intention was to receive both the 0.00 % APR and the {$2000.00} rebate. To be honest, it never cross my mind until it they started asking me. As I told Mr. XXXX over the phone, I simply wanted an apology. I have since changed my mind, due to the fact that it appears as if a minimal amount of money is more important to XXXX  than high customer relationship standards. Therefore, the answer is YES. I want both the 0.00 % APR, as well as the {$2000.00} rebate. 
Also, I would like to bring to your attention the unfair treatment I received when they coerced me into taking a high interest new loan, and treated me like an ignorant XXXX either due to I am XXXX and senior. I am a XXXX veteran, and I retired from the XXXX  XXXX XXXX after 30 years experience as a XXXX XXXX. I testified over XXXX times in XXXX, XXXX, and XXXX  courts in the United States and throughout the world. I have never been impeached for being untruthful in a court of law, OR FOR ANY REASON. Your integrity is all that you have in the XXXX Business. 
I believe that the 0.00 % APR, together with the {$2000.00} incentive, are a small price to pay for the unfair credit treatment received from XXXX XXXX. XXXX and XXXX might attempt to say that they did not do anything wrong, as Mr. XXXX told me over the phone while defending XXXX practices, but I am a person who believes in actions, not words. Their actions ( and overwhelming financial evidence ) shows otherwise. 
PNC bank and XXXX were notified of this event, and provided with copies of this event. PNC bank also had my explanation of why I dropped their 4.99 % APR for a 2.58 % APR loan two days later after my loan was approved with PNC bank. Also PNC bank was made aware that XXXX knew about the fact that their loan was going to be transferred and XXXX tried to make me wait two weeks before attempting to transfer the loan, which for distrust, I did not do. 
Thank you for your time. My personal information is below. Hoping to hear from you in the near future. I wonder how many minorities and seniors have been treated this way by this dealer? I think it will be in XXXX best interest to find this out.

Company response to consumer: Closed with explanation