Consumer complaint received 2015-12-17
Company: FIFTH THIRD FINANCIAL CORPORATION
State: AL
Product: Consumer Loan
Sub-product: Vehicle loan
Issue: Managing the loan or lease

Complaint:
I live in the state of XXXX and on XX/XX/XXXX, I purchased a used XXXX Toyota Scion for my XXXX year old son who lives in the state of XXXX. I purchased this vehicle from XXXX XXXX XXXX located in XXXX XXXX. I advised the salesperson that I was purchasing this car for my son who lives in XXXX. Prior to signing the paperwork, I inquired what was the most efficient way to add my son to the title so he would be able to register the car in XXXX when I delivered the car to him. The salesperson advised me that I would just need to call the bank that financed the loan to have him added to the title. This sounded logical to me as that is exactly what I did while living in XXXX when I purchased a car for my daughter who also resides in XXXX. I just called the XXXX XXXX who financed that loan and for a small fee they added her to the title and she was able to register the car in her name in XXXX. With that said, I purchased the car. 
On XX/XX/XXXX I received a call from Fifth Third Bank located in XXXX XXXX advising me that they were financing my car loan and they just needed to verify the information on my application. After verifying my information, I advised the 5th 3rd representative that I had purchased the car for my son who lives in XXXX and inquired what I needed to do to add him to the title. He advised me that once I got the car to XXXX that I just needed to call back and let them know the location of the vehicle and give them my sons information and they would be able to add him to the title. So now I have both the car dealership and the Bank advising me that there would be no issue with adding my son to the title. Equipped with this information, on XX/XX/XXXX, I drove the car I purchased for my son from XXXX to XXXX and presented the car to my son so he would have transportation to his part time job and for college when he starts in XX/XX/XXXX. 
On XXXX, I called Fifth Third Bank to start the process of adding my son to the title. At this time, the agent advised me that is against XXXX XXXX policy to add anyone to the title. I was told that the only way Fifth Third Bank would add anyone is if they were a signor on the loan. I advised this person that I needed to speak to a supervisor. The supervisor advised me the same thing. I then requested to speak to a Manager and was told the same thing. On XX/XX/XXXX, I filed a formal complaint with 5th 3rd claiming that I was deceived into obtaining this loan and now they were not willing to follow through on what they told me before finalizing the loan. If they told me on XXXX XXXX, that it was against their policy to add a non signor to the title, I would have told them to NOT process the loan and I would 've drove the car back to the dealership and had them find a financial institution that would allow me to add my son to the title without being a signor. I have a XXXX FICO score so I was NOT dependent on 5th 3rd Bank financing this loan. I was in a position where I could have shopped around for a loan that fitted my needs. 
On XXXX I called 5th 3rd back as no one called me back about the complaint. I was advised that my complaint had not been assigned to anyone at that point. I finally received a call back on XX/XX/XXXX advising me that there was nothing I could do as 5th 3rd was enforcing their policy. So now I am stuck with an {$11000.00} loan and a car that my son can drive. 
I feel that this is a blatant UDAP violation!

Company response to consumer: Closed with explanation