Consumer complaint received 2023-02-27
Company: TRUIST FINANCIAL CORPORATION
State: TX
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:
Regional acceptance Account # : XXXX On XX/XX/XXXX I went in XXXX XXXX XXXX at XXXX XXXX XXXX in XXXX, IL to purchase a used vehicle while on vacation/leave during XXXX XXXX service. The dealership is now named XXXX XXXX XXXX. I went in to purchase a new XXXX XXXX XXXX, but the salesman who assisted me told me that all of the XXXX XXXX I seen in the lot were being driven by employees that worked there. Although, they were in the sales lot with the rest of the cars. Instead, he showed me used XXXXXXXX XXXX and wanted me to test drive it. I drove the vehicle and told them it jumped forward when you press the brakes to come to a stop. They told me the vehicle had adaptive steering that adjusts as time goes on to the driver. There is no such thing. I believed them as I didnt have much time to look around because I was an XXXX XXXX service member at the time and was only home for a few days. Also, I called prior to coming and I was told they had new XXXXXXXX XXXX to sell. I provided my most recent XXXX  ( pay stub for XXXX XXXX XXXX ) and filled out a credit application. My credit was ran and it came back as mid XXXX, to be specific, XXXX. The salesman came back and told me that I wouldnt be approved unless I put some money down, and stated my credit wasnt great but it was a XXXX. I had nothing on my credit but student loans in Good standing. He came back and stated that the financial institution, Regional Acceptance, wanted a {$1500.00} down payment and wanted me to obtain a co-signer. I couldnt make sense of this because my credit was fair without negative marks. Also, according to my knowledge at the time I didnt think a dealership could charge a down payment of the vehicle was being financed because the down payment didnt count towards my finances amount at all. I asked my mother to co-sign and she agreed- her credit score was lower than mine but they did not care at all. This was also weird to me but I needed to get a vehicle before leaving to go back to the military base. I signed all documents as the primary applicant and my mother signed as the co applicant. Two months after receiving paperwork for the vehicle- the paperwork had been changed afterwards to reflect my mother as the primary and me as the co-signer. We called regional acceptance to change this, but they refused to do so. Stating that the dealership, XXXX XXXX XXXX XXXX XXXX had submitted her as the primary instead. The dealership refused to acknowledge theyd changed the applicant information, and ultimately stopped answering my calls. While on XXXX XXXX, I had a decrease in pay due to an overpayment from my employer. Regional acceptance refused to assist me with remedies, and repossessed my car. Due to dealership fraud, and the finance companys refusal to correct the fraudulent contract and error- I wasnt afforded any relief options that protected me under the SCRA . This was done intentionally due to me making my XXXX XXXX service status known upfront at the dealership. The finance company was also aware that having me as primary applicant meant theyd have to abide by the SCRA and Id be able to invoke my rights. I lost a vehicle and I lost out on money, and assistance that wouldve helped me to keep my vehicle.

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