Consumer complaint received 2024-04-16
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Problem with additional products or services purchased with the loan
Company: Exeter Finance, LLC. (GA)

on XX/XX/XXXX2023, I purchased a car and Exeter Finance LLC. was the lender. 

on XX/XX/XXXX/2023 the car was totaled. 

my insurance paid their assessment and gap insurance covered the rest. 

during this time, exeter finance advised me that the {$2500.00} service contract purchased with the car and included in my finance amount had been canceled and refund issued. 

two things here : 1.After the loan was paid off, exeter finance did not close my loan and reported late payments to the credit bureaus until i was able to notice this happening in XX/XX/XXXX2023 when i called them and they told me i still owed {$230.00} but couldnt tell me why. I did pay it because I wanted the late payment reporting to stop because it was and still is affecting my ability to purchase another car. I later found out this amount was interest leftover which they told me gap insurace doesn't cover. 

2. Exeter finance did not refund me the amount for the {$2500.00} canceled service contract and insists my dealer owes me this amount. and that the {$2500.00} service contract was not a part of my financing despite my loan contract stating it is financed. 

Here are the facts : 1. per my loan contract, the price of the car including taxes was {$170000.00}. It lists the {$3000.00} downpayment I paid leaving a balance of {$140000.00} to be financed on the price of the car. 
then lists all of hte additional charges : {$990.00} for cap insurance {$20.00} registration fee {$18.00} title fee {$690.00} documentation fee {$190.00} state electronic registration fee {$2500.00} service contract for a total additional amount of {$4400.00} and the amount financed line on the contract says {$18000.00}. 
The contract terms state that if the lender obtains a refund of insurance, maintenance, service, or other contract charges, i agree that they can subtract the amount to what I owe, however, this did not happen they cancelled the service contract and received the refund from the dealership which they claimed they didn't receive but provided me proof that they did. 

Again, the amount financed was {$18000.00}. My payments were to begin in XXXX, however the car was totaled before the first payment was ever made. 

According to documents supplied by exeter finance they received : 1. {$16000.00} on XX/XX/XXXX23 from my insurance 2. XXXX on XX/XX/XXXX2023 from gap insurance 3. Another payment on XXXX/XXXX/2023 from gap insurance of {$2000.00} 4. {$2500.00} refund for the service contract cancellation from the dealer on XX/XX/XXXX2023 Check number XXXX which was deposited into their bank. 

These amounts total {$21000.00}. When subtracting my loan amount of {$18000.00} and accrued interest of {$230.00}, this leaves a balance of {$2700.00} which i am owed and Exeter denies. their service associates state they refunded this amount to the dealership however, they will not show me proof and the documentation they sent to me says otherwise. In addition, they reported late payments to the credit bureaus when no amount was due to them. I paid the {$230.00} to them and this amount needed to be refunded to me as well.