Consumer complaint received 2022-12-08
Product: Vehicle loan or lease — Lease
Issue: Problems at the end of the loan or lease — Problem extending the lease
Company: FORD MOTOR CREDIT CO. (MI)

I have an auto lease with Ford Motor Credit Company ( FMCC ). In late XXXX of XXXX, I called the customer service number and asked to enter into a lease extension. At the time, FMCC was providing 6-month lease extensions. I was told that I needed to make my next few payments and to call back after all payments are made and FMCC would process a 6-month extension. Based, on the information provided in the call, I did not shop for a car and relied on the instructions and policy provided by the FMCC representative. FMCC has a record of the call, and I believe the call was recorded. 
Today, XX/XX/XXXX, I called to enter into a lease extension, and I was told that they would no longer honor the statements provided to me by the FMCC representative in XX/XX/XXXX. XXXX changed its policy and would no longer provide a 6-month extension. Further, FMCC would only provide a 1-month extension unless I order a car ( it was implied that the car needed to be a Ford model car ), and only then would FMCC provide an extension longer than 1 month with an order number. 
I explained to the FMCC representative and a FMCC supervisor, that the policy was unfair to consumers who relied on FMCC verbal instructions on obtaining a lease extension, especially instructions provided to consumers, such as me. Based on the advice FMCC gave me in XXXX, I did not shop for a vehicle, because I believed that I would have until XX/XX/XXXX ( based on a 6-month extension-my lease expires XX/XX/XXXX ). FMCC changed its program, however, FMCC failed to alert consumers to the change in program, especially consumers such as myself who had contacted them for an extension and were told they would get one as soon as all payments we received. I relied on the instructions provided by the FMCC representative to my detriment. As a result of the XX/XX/XXXX FMCC 's instructions, I did not shop for a car, because I planned on extending my lease.

However, FMCC has refused to honor the 6-month extension, and now I am unable to extend my lease, and there is a shortage of vehicle inventory. Due to the timing, I am not sure that there are new vehicles available for purchase, and even if I am lucky to find one, I will have to pay an extraordinary premium. Everyone is aware of the chip shortage, which has impacted vehicle inventory levels.

This behavior and unreasonableness on FMCC 's part is not something one would expect from a reputable company, nor should it be tolerated. If XXXX decided to change its program, FMCC had a duty to inform its customers that it would no longer provide the 6-month lease extensions going forward so that consumers could prepare, especially for consumers who did the right thing and contacted them, and relied on advice/instructions from FMCC regarding the process .

FMCC is a large corporation and should be held to a higher standard. Consumers should not be penalized because FMCC is not willing to act ethically or reasonably. FMCC policy deviates from the industry. My husband just entered into a six-month lease extension with XXXX XXXX XXXX so the FMCC policy is not even the standard policy in the industry and hurts consumers. 
If this could happen to me, a person who is highly educated ( I called FMCC to obtain the facts from them and did what they told me to do ), how would an ordinary consumer handle a similar situation? Would an ordinary consumer know to contact the CFPB for assistance? 

Without a vehicle, I am unable to get to work. This could affect my livelihood. I humbly request that FMCC reconsider my request for a 6-month extension, especially since that is what FMCC communicated to me in XXXX of XXXX. I relied on their communications and have very few options. 

Thank you for your consideration.