Consumer complaint received 2017-06-23
Company: CAPITAL ONE FINANCIAL CORPORATION
State: FL
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Fraudulent loan

Complaint:
Good Afternoon, We purchased a car from XXXX XXXX back in XXXX, during that time we were told that they stand by their 125 point inspection on their vehicle. The vehicle had XXXX miles on it at the time of purchase. A few years later the car failed and became in operative ; when I took it to the mechanic, he informed me that this was a common issue with XXXX and that there was a lawsuit regarding this issue where there is a defective radiator in these models and it leaks into the transmission ultimately destroying the transmission and this was the exact diagnose of the vehicle. When I began to do research, it was discovered that this was a trendy issue with over XXXX complaints and that there was a lawsuit whereas the manufacture ( XXXX ) extended the warranty up to XXXX miles on the vehicle, however XXXX XXXX did not disclose this information to us when we purchased the vehicle. It they had done so we probably would not have purchased this type of vehicle. In speaking to a representative for XXXX XXXX. I was told they did not have a system that would inform them of the issue with XXXX cars. I then spoke to an individual at XXXX XXXX corporate office who informed me that because it was over XXXX the warranty was over. When we purchased the vehicle it only had XXXX miles so if we were informed of the manufacture problem with that model at that time of purchase we could have gotten this resolved. And not be faced with the issue of a car that we can not make use of. The fact that we were not informed of a lemon car has cost us over {$4000.00} in repairs and a rental for 2 months because my job requires transportation while trying to resolve this issue. The car is deemed worthless by every mechanic I have asked to look at the car. So now I feel helpless with a worthless car with a high interest that I can not refinance for a lower rate, I could not trade in. We have spent over XXXX in interest and we still owe XXXX on a XXXX XXXX XXXX. XXXX will send us to XXXX XXXX, XXXX XXXX will send us to XXXX. I feel that this car was a lemon from the beginning, because XXXX was aware of the defects of the vehicle. And as the manufacturer of this vehicle they hold the responsibility to be ethical to their customers. Capital One agreed to finance the loan using the car as collateral. So we have three levels of irresponsibility a manufacturer who is aware of the defect and did not recall the cars from the lot to repair it before it gets to a buyer, XXXX XXXX whos responsibility it is to know what they are selling to customers and Capital one who does not do a thorough appraisal on their collateral. I do not feel I should be the one to suffer this great financial loss due to the negligence of the manufacturer, dealership and the lender. Where does the consumer protection in all this? I want to return this vehicle to the responsible party as I was forced to purchase a new vehicle because the XXXX is inoperable. I am asking that I be released from the debt burden balance of XXXX. And not adversely affect my credit, because we can not afford two car payments. I am requesting that this vehicle be returned and that this is totally removed from my credit report due to the deceptive practices of XXXX of North America

Company response to consumer: Closed with explanation