Consumer complaint received 2023-04-25
Company: Bridgecrest Acceptance Corporation
State: IL
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Changes in terms mid-deal or after closing

Complaint:
On XX/XX/XXXXXXXX  I purchased a XXXX XXXX XXXX XXXX XXXX XXXX in XXXX, Illinois and was approved for a loan through Bridgecrest financial institution of about XXXX and I made a down payment of {$2000.00}. I submitted to them my work check stubs, insurance and all other documents they asked for and was approved on the spot for the vehicle. 

On XX/XX/XXXXXXXX  I received an email from Bridgecrest stating that they needed additional documents for the post sales verification process to continue to honor the loan and these documents requested were my Bank Statements for the month of XXXX and my check stubs from XX/XX/XXXX and XX/XX/XXXX. 

On XX/XX/XXXXXXXX  I received a phone call from XXXX ( the person who sold me the vehicle at XXXX XXXX  ) stating they needed the Bank Statements by XX/XX/XXXXXXXX  to confirm my direct deposits matched my check stubs because there was a discrepancy with my check stubs and if they were not received by this date then the bank would request that I return the vehicle back to the dealership. He later sent me a link via text message to submit the bank statements through XXXX XXXX XXXXXXXX XXXX 

On XX/XX/XXXXXXXX  I attempted to upload the documents to XXXX XXXX XXXX  XXXX  but XXXX sent me a link to submit the XXXX statements instead of the XXXX statements so the system would not allow me to upload them into the system. I called XXXX to inform him of this mishap and per his request, I emailed the XXXX XXXX  Bank Statements to his work email address ( XXXX ) with my direct deposits that matched my check stubs on XX/XX/XXXX. 

On XX/XX/XXXXXXXX  I received a text message from XXXX stating that he had not received my bank statements and he asked if I could send them to him again so that he could get them uploaded into the system for Bridgecrest. I then sent another email to XXXX with the requested documents and I sent him a text message to confirm that he had received them this time via email. He confirmed that he had received and submitted the bank statements to Bridgecrest and that he would let me know when he received an update. 

On Monday XX/XX/XXXXXXXX  I reached out to XXXX before going to work letting him know that he could leave me a voice message or a text message when he received an update from the bank and that I would give him a call back when I get off work. He texted me back that he hadn't heard anything back rom the bank and that he would let me know as soon as he did and that was the last time I heard from him. 

A week later on XX/XX/XXXXXXXX  I visited XXXX XXXX  to receive to tire air pressure caps for my two back wheels because I hadn't noticed that they were not there upon purchase of the vehicle. No one in the dealership told me that I needed to return the car or that the bank denied my documents. I never received any type of notification XXXX XXXX XXXX or Bridgecrest stating that my documents were not approved for post-verification so I continued to pay on my car note in advance. 

I made payments on my car note on XX/XX/XXXXXXXX  ( {$97.00} ), XX/XX/XXXXXXXX  ( {$65.00} ) and XX/XX/XXXX ( {$130.00} ) ( the due date ). Upon making these payments I still never received notice from the bank XXXX XXXX XXXX that my documents were not approved and that they needed me to return the vehicle so I thought that everything was in the clear. 

On XX/XX/XXXXXXXX  at XXXX XXXX  I called the local police department because my car was not outside and I thought it had been stolen. They informed me that my car was reposed the previous night around XXXX XXXX. 

I immediately called XXXX XXXX to ask them what was the reason for the repossession and they could not give me an answer and suggested I call Bridgecrest since they were the lenders. I called Bridgecrest to inquire about the repossession and the only thing they could tell me was that I did not meet the post verification process due to the discrepancy in my pay ( the initial reason they requested my bank statements ) and when I asked them about receiving my bank statements they told me I had to reach back out to XXXX XXXX. Additionally, the agent told me that it would take about 4-6 weeks for them to reverse the charges and issue me a refund because XXXX XXXX has to inspect the vehicle and confirm that it is in the same condition in which I received it. 

I called XXXX XXXX once again and asked them if my bank statements were submitted and the manager told me they were submitted and the only thing he can see in the system was that the documents were waiting to be reviewed but it did not say whether they were approved or denied. He also repeated to me that they did the post verification process and had a discrepancy in my pay which is why they needed the bank statements in the first place but that the submission of the bank statements typically clears up that discrepancy with the bank. 

I then asked the manager if he could reach out to Bridgecrest in order to find out if they approved or denied my documents on their end since they XXXX XXXX XXXX ) did not have a definite answer and he told me that it was unlikely that he would receive an answer from the bank, especially as a third party. The manager told me he would reach back out to me with any updates whether he received an answer or not from Bridgecrest. 

This phone call prompted me to call Bridgecrest once more to confirm if my bank statements had been approved and looked at by them and they did not have a clear answer for me. They told me that XXXX XXXX handles the contracts and they would have any answers regarding whether or not my documents were looked at and I told them XXXX XXXX did not have any answers for me and told me to call them ( the bank ). During both calls to Bridgecrest I asked to speak to a manager that may be able to give me more answers but they were only able to redirect me to customer relations and said they would not be able to answer the questions I had and only XXXX XXXX could do that. 

Both of these companies have not been able to give me a clear cut explanation as to why my car has been repossessed and they are giving me the run arounds between both of them when I try to get answers. This entire ordeal has been very stressful and tiresome and I would like to request a FULL refund of my {$2000.00} and the {$290.00} I paid towards my car note if Bridgecrest is not going to honor the original loan agreement and they knew full and well that they ( XXXX XXXX XXXX  ) had plans to repossess my car. 

I would also like a full explanation in WRITING as to why my car was repossessed and why I did not receive a phone call, voicemail or email stating to return the vehicle before it was repossessed with my personal belongings. Additionally, I would like to be reimbursed for the cost of going to collect my belongings from XXXX XXXX XXXX the repossession company ) because I was not given the choice to return the vehicle to the dealership on my own accord, which I would have done with no problem had I received notice of the loan being reversed.

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