Consumer complaint received 2024-05-29
Product: Vehicle loan or lease — Loan
Issue: Problems at the end of the loan or lease — Problem with paying off the loan
Company: Bridgecrest Acceptance Corporation (NJ)

I am reaching out to express concerns and reasons that I have to believe that XXXX, XXXX, Bridgecrest, and all of its affiliates are committing a plethora of financial crimes and nefarious business practices that are in direct violation/ breach of but not limited to their prospectus, trust indenture agreement, codes of federal regulation, United States codes, New Jersey Administrative Codes , Truth in Lending Act, Fair Credit Reporting Act, Privacy Act of 1974 and various Securities Exchange Commission violations.

Pursuant to 15 U.S. code 1602 ( i ), Ientered into a consumer credit transaction with CARVANA and NOT BRIDGECREST, to purchase a XXXX XXXX XXXX XXXX XXXX via XXXX online platform/ website on XX/XX/XXXX. I rendered a downpayment of {$500.00} which is a direct violation of 15 U.S. Code 1605 which clearly states that the finance charge does not include charges of a type payable in a comparable cash transaction.

Upon receiving the car via CARVANAs delivery methods, I received a blue folder which only contained one ( the first ) page of the contract. As a result of my curiosity over the last couple of weeks, I actually went through the folder and noticed I only had the first page of the contract after all this time. This folder was never opened, added to or subtracted from as it sat in a home safe from the time I got the car until now. 
Shortly after realizing this, I began to contact BRIDGECREST for a copy of the contract being that they were the ones I was making payments to. They told me that I had to reach out to XXXX XXXX because they were the dealer. 

I then contacted XXXX XXXX for a full contract for me to review and I was questioned about what I needed it for on all recorded calls. I was finally able to get them to tell me that they will email a copy in a few days. Expecting to get an email from XXXX XXXX, I received an email from BRIDGECREST customer care containing the contract. I never signed any contracts or agreements with BRIDGECREST to make payments to them. I also had them send me an arbitration agreement that I never received or even signed from XXXX, XXXX. 

Shortly before receiving a copy view of the full contract from BRIDGECREST, I was told by XXXX via email on XX/XX/XXXX that they had NO RECORDS of my contract due to the age of the information in the system. I was also informed on a recorded line that I was not able to receive a physical billing statement via postal mail because they were a paperless company and I was unable to opt out of paperless billing that I never opted into. 
In the contract, it also says that this transaction took place at the dealers licensed location and that is not true. I had to wait weeks after XX/XX/XXXX to receive my contract from BRIDGECREST, not XXXX, XXXX. 

After being told that I could not receive a paper bill in the mail, I was sent a XXXX page physical printed document of all the payments made throughout the life of the loan/ contract thus far via certified mail. That doesnt sound like something a paperless company would do for no reason. Interestingly enough, I was also sent a very different contract titled : XXXX XXXX XXXX XXXX that looks like it was signed with my electronic signature that I had never seen before. It is a lot shorter and very different from the one that I had in my possession ( XXXX pages ) since XXXX. It stated at the top right hand corners of each page that it was the Authoritative copy. Why was this never given to me to be signed? This new document looks as if I was physically in Georgia buying the vehicle. There is no evidence of any active or inactive UCC filings/ perfected liens on the vehicle to date in the state of Georgia on the XXXX website, or New Jersey XXXX my residence state ). How is there a security interest without a perfected lien? 

Furthermore, If I saw in this new contract that I received around XX/XX/XXXX, and it clearly stated verbatim : We agree to transfer to you and you agree to accept title and ownership of the vehicle in the state of the dealership address listed above. When we transfer title and the ownership of the vehicle to you, you may take delivery of the vehicle from us at our licensed dealership location shown above or you may make arrangements with us to have the vehicle transported to another usually agreed- upon location for your pickup. 
I would have immediately asked for my title and other ownership documents. 
I made sure to highlight this for your further viewing ( enclosed ). 


Where are titles and ownership documents that should have been transferred to me over 5 years ago? 

Why do I have two different purchase agreements in two different states for one vehicle? 

Is there some kind of fraudulent activity going on here? 

This is a direct violation of N.J.A.C. 13:21-15.6, which, in pertinent part, prohibits a licensee that is, " any natural person or entity that is licensed to buy, sell, or deal in, or lease motor vehicles pursuant to N.J.S.A. 39:10 -19 & N.J.A.C. 13:21-15.1, from selling " any motor vehicle unaccompanied by, or in the absence of, a valid title at the time of the transaction. '' This is a notice of rescission of this retail installment contract and security agreement and arbitration provision as XXXX XXXX failed to : clearly & conspicuously disclose my right to rescind within 3 days provide me with a full copy of the contract as it clearly stated that I would receive. I was also provided with a non authoritative copy of the contract that was missing information and also contained inconsistent information with the contract I had in my possession. I also never received my title or ownership documents for the vehicle as it states in the authoritative copy deliver two copies of the notice of the right to rescind which are direct VIOLATIONS of 12 CFR 1026.15 ( b ), 15 USC 1635 ( a ), Regulation Z, 12 CFR 226.15 ( b ), 226.17 and 226. 23.

Attach arbitration agreement to contract. It was singed with my electronic signature It is a FACT that Pursuant to 15 U.S. Code 1611 ( 1 ) ( 3 ) CARVANA can be fined up to {$5000.00} for giving false, inaccurate information and failing to provide information which is required to disclose and in this case, XXXX XXXX knowingly and willfully did when they failed to disclose and clearly provide all information to me as a consumer. 

Pursuant to 15 U.S Code 1602 ( v ) you, XXXX XXXX did not provide Material Disclosures as to how XXXX XXXX came up with the method of determining the finance charge. 
Pursuant to TILA, FCRA, & U.S Code 1681 ( a ) you, XXXX XXXX and affiliates are continuing to willfully and knowingly report this consumer credit transaction to the credit agencies which is a direct violation of the abovementioned United States codes, the privacy act of 1974 and codes of federal regulation. 

Ensuring compliance with regulatory requirements, respecting the equitable principles of our agreement, and fulfilling your fiduciary duties are imperative steps to maintain the integrity of our relationship and to rectify the current situation. 
In advance, I appreciate your prompt attention to these matters and look forward to a resolution that honors your commitment to fairness, transparency, and regulatory compliance.