Consumer complaint received 2018-07-18
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Credit denial
Company: Exeter Finance, LLC. (SC)

On XX/XX/2017, I purchased a brand new XXXX  XXXX XXXX from XXXX XXXX XXXX XXXX. The total amount financed was {$23000.00}, after putting {$500.00} down with a {$4000.00} rebate. I went through the normal process ; getting approved for financing which required my mother and I to provide proof of employment ( a months worth of paystubs ), signing a million documents, and eventually driving home in my brand new car. My mother lives in another state so the dealership had to send the documents in the mail for her to sign but I was still allowed to take my car home that day. They just told me that they would contact me once received, so I could come back to the dealership to get my temporary tag and pick up a copy of my executed contract. On XXXX.17, I received a call from Exeter Finance Corp, the finance company, stating that they had to contact both of our employers to verify employment and needed numbers. This clearly didnt make any sense to me since we both had already provided our pay stubs and were approved for financing on XX/XX/XXXX. Then on XXXX.17, I received a call from the finance guy, at the dealership, saying that Exeter called and said that they weren't going to finance me anymore because the income provided for my mother was incorrect. She provided her pay stubs for a whole month which were obviously accurate. I told the finance guy that this made no sense and that I would be contacting Exeter after I got off the phone. I then called Exeter and spoke to XXXX, in the buying center, in reference to my account. I explained what had happened and she argued that my mother wasnt an employee because she was receiving severance pay and wouldnt accept the documents. How was this legal since they approved my loan 2.5 weeks ago but now werent going to finance me based on ACCURATE information. After speaking with Exeter, I called the dealership back to let the finance guy know what was discussed. He wasn't available so I left him a message. The following day, I had to swing by the dealership to pick up my executed contract because they forgot to give it to me when I picked up my temporary tag. They didn't mention anything about the financing issue and I never heard back from either of them so I assumed that it was resolved. That was anything but true. On XX/XX/17, I received a notice in the mail, from Exeter Finance dated XX/XX/17, stating that they received my application for automobile financing and were unable to approve my request. This made ABSOLUTELY no sense. I was already approved for financing, through Exeter Finance, on XX/XX/XXXX. How was I allowed to drive off the lot if they didn't approve my request? Mind you, this notice was sent almost a month after purchasing my vehicle and my first payment was to be made on XX/XX/2017. I also never received a contract from Exeter Finance outlining the terms of my loan. The only documents I signed were those at the dealership. With that being said, I would like a copy of my loan agreement with Exeter Finance for my records and for review and an explanation for the denied financing.