Consumer complaint received 2022-12-29
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Fraudulent loan
Company: LOBEL FINANCIAL CORPORATION (FL)

I am filing this complaint for my son and myself On XX/XX/XXXX, my son and I went to XXXX XXXX to purchase a used car. I was asked to pay a {$4000.00} down payment for a XXXX XXXX XXXX ; cost of car XXXX. I informed the car salesperson ( XXXX ) at the dealership that I only had XXXX to put down. She told me they would accept the XXXX and put me on a payment plan for the remaining XXXX. I was scheduled to pay a total of XXXX payments of {$660.00} on XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. After the payments were successfully made in cash. i contacted XXXX to find out how I would make my new monthly payments of {$580.00} to Lobel Finance company. The first payment to Lobel was successful on XX/XX/XXXX ( I asked for proof of payment but to no avail. I contacted XXXX at XXXX XXXX on XX/XX/XXXX to make a payment towards my car. XXXX told me my card was declined. I did not have a declined notice on my end. I told XXXX we would arrange a way to make a payment. The car was repossessed from XXXX XXXX XXXX XXXX on XX/XX/XXXX. I was devastated. 

The agreement was to put the car in my name. I later noticed the car was in my son 's name. We have XXXX vehicle registrations : with XXXX different names. Both registrations have the same VIN numbers but different tag numbers. I also noticed that I received a letter from Lobel ( after the car was taken ) that states the loan was denied. 

I spoke with XXXX and XXXX at dealership after the car was taken ; they both stated they did not know why the car was take and they refused to refund the down payment of {$4000.00}. 

I spoke with XXXX at Lobel after calling XXXX and XXXX after the car was wrongfully taken ; He informed me : the finance company sent me a letter dated XX/XX/XXXX that the loan was denied ( which is the letter I found ). However, the car is not in XXXX XXXX 's name and Lobel took a payment of {$580.00} in XXXX. XXXX also stated the car dealership has committed this type of fraud to XXXX different customers, which is why my loan was denied by Lobel. However, Also, on the letter from Lobel financial, I noticed another auto sales company named XXXX 's XXXX XXXX. In addition, XXXX at Lobel stated that the car dealership made a payment to them ( Lobel ) for the total amount of the car before the car was wrongfully repossessed. Lobel refused to refund {$580.00} that was paid to them for the car that was wrongfully taken from me. They stopped answering the phone for me. 

After the car was wrongfully repossessed, I was forced to pay {$150.00} in cash to remove personal items from car. I was denied a receipt for this transaction. 

I went to the dealership to retrieve the car contract and other paperwork. I went home to do a little research and realized that the down payment of {$4000.00} was added to total price of the car when it should've been deducted. I also realized that pursuant to 15 USC 1662 ( b ) - it was illegal to make a down payment. I also noticed that I was never given the right to rescission. 

Dealership : XXXX XXXX XXXX XXXX XXXX XXXX XXXX, FL XXXX XXXX XXXX XXXX LOBEL Financial XXXX XXXX XXXX XXXX XXXX, CA. XXXX XXXX