Consumer complaint received 2022-09-26
Company: Exeter Finance Corp.
State: FL
Product: Vehicle loan or lease
Sub-product: Lease
Issue: Getting a loan or lease
Sub-issue: Problem with additional add-on products or services purchased with the loan

Complaint:
Pursuant to Florida laws, which is the the state where laws apply to this contract according to the contract, Courtesy of XXXXExeter Finance took full advantage of my consumer report. According to Florida Statutes 687.02 ; Usurious contracts defined All contracts for the payment of interest upon any loan, advance of money, line of credit, or forbearance to enforce the collection of any debt, or upon any obligation whatever, at a higher rate of interest than the equivalent of 18 percent per annum are hereby declared usurious. XXXX XXXX XXXX Exeter Finance did charged me an XXXX of 21.7 %. Also XXXX of XXXX Exeter Finance violated my consumers rights by U.S. code 1635 ( A ) as I was never told I had 3 days to rescind the agreement nor was given the notices that come along with all consumer credit transactions. According to 12 CFR 1026.23 - Right of rescission ( b ) a creditor shall deliver two copies of the notice of the right to rescind to each consumer entitled to rescind ( one copy to each of the notice is delivered in electronic form in accordance with the consumer consent and other applicable provisions of the E-Sign Act ). The notice shall be on a separate document that identifies the transaction and shall clearly and conspicuously disclose the following, ( ii ) The consumer 's right to rescind the transaction. iii ) How to exercise the right to rescind, with a form for that purpose, designating the address of the creditor 's place of business. ( iv ) The effects of rescission and lastly ( v ) The date the rescission period expires. Which Courtesy XXXX of XXXX or Exeter Finance failed to do. Take further notice that Pursuant to 15 U.S. Code 1605 the finance charge in connection with any consumer credit transaction shall be determined as the sum of all charges which were never disclosed to me by your organization in direct violation of this law. XXXX XXXX XXXX XXXX/Exeter Finance also accepted a CASH down payment of {$1000.00} violating 15 U.S. code 1605 which clearly says that the finance charge does not include charges of a type payable in a comparable cash transaction. I have also recently come across information from the Federal Trade Commission more specifically the Gramm-Leach Bliley Act. 
15 USC 6802 obligations with respect to disclosures of personal information Notice Requirements ; Except as otherwise provided in this subchapter, a financial institution may not, directly or through any affiliate, disclose to a nonaffiliated third party any nonpublic personal information unless such financial institution provides or has provided to the consumer a notice that complies with section 6803 of this title. ( XXXX XXXX XXXX XXXXExeter ) did not disclose this information to me, the consumer that is required by Federal Law. Pertinent information was withheld about the disclosure of my information to affiliate and unaffiliated third parties. The information that explained how I, the consumer, could exercise that non-disclosure option was also withhel

Company response to consumer: Closed with explanation