Consumer complaint received 2022-11-08
Company: Lendmark Financial Services
State: TX
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Problem with fees charged

Complaint:
On XX/XX/XXXX I purchased a used vehicle XXXX XXXX XXXXXXXX XXXX in XXXX XXXX, Tx. At the time I was looking at the vehicle I requested a Vehicle history report and or Car Fax on the vehicle which I was told XXXX XXXX XXXXXXXX XXXX that they do not provide those but they assured me that there were no accidents or major problems with the vehicle. XXXX XXXX XXXXXXXX referred the loan on the vehicle to Lenmark Financial which they said that was the only lender that they personally deal with. Vehicle was priced at {$17000.00} with a final finance of {$19000.00}, with a {$500.00} hold fee that XXXX XXXXXXXX XXXX required along with {$2000.00} down that was paid directly to XXXX XXXXXXXX XXXX as well as a Referral Fee that Lenmark paid to XXXX  XXXX XXXX for their business. The problem that I am having is that the vehicle was sold to me as a sound used vehicle when in fact two days after taking possession of the vehicle we started having major mechanical issues with the car, spoke with XXXX XXXX XXXXXXXX about the issues and they said ( verbally ) that they could look in to fixing them but it would be two or three weeks before they could get to it. By that time the time limit for a return/dissolvement of the contract would be over. I spoke with Lenmark about dissolvement of the contract and return of the vehicle and they said that I was unable to do that and my only options were to trade the vehicle for a different vehicle on the XXXX XXXX XXXX Lot or to Fix the vehicle myself out of pocket. I did have some of the issues repaired only for new bigger problems continue to pop up the longer the vehicle was driven. I decided to trade the vehicle in at a XXXX XXXX on XX/XX/XXXX and their appraisal found major mechanical and structural damage along with the Title being marked Lemon/Manufacture Buy Back ; all of which I was unaware of at the time of purchase and was not disclosed to me when I asked about the vehicle 's history/accident reports. XXXX XXXX valued the vehicle at {$3500.00} and provided me with a complete vehicle history report stating that the vehicle was a lemon and the original title was marked as a Lemon on XX/XX/XXXX in California by the Motor Vehicle Department, then again on XX/XX/XXXX in Texas marked as Lemon by the Motor Vehicle Department as well as XX/XX/XXXX and XX/XX/XXXX in XXXX Texas. On XX/XX/XXXX in Texas at an Auto Auction it was marked as having structural damage, then again on XX/XX/XXXX at an Auto Auction in Texas was marked as being a known Lemon as well as having structural damage and then I purchased it on XX/XX/XXXX. I spoke with the owner of XXXX XXXX XXXXXXXX as well as Lenmark Financial about the issues and not being told up front about the Lemon Marked Title or the Structural Damage, I simply wanted to return the vehicle and receive a full refund of payments, deposit and downpayment. Neither XXXX XXXX XXXX nor Lenmark Financial was willing to accept responsibility for selling or financing a worthless unsound vehicle for {$19000.00}. I have spoken to several attorneys and I have been told that knowingly selling/financing a vehicle without disclosing the title and or major mechanical issues is considered fraud. I would just like my money back and they can gladly have their {$3500.00} vehicle back.

Company response to consumer: Closed with explanation