Consumer complaint received 2016-06-03
Product: Consumer Loan — Vehicle loan
Issue: Managing the loan or lease — 
Company: QUALITY ACCEPTANCE LLC (NV)

went to XXXX where we bought the XXXX XXXX that we had with XXXX XXXX XXXX. XXXX was amazing. All our payments were on time in the two years we had the car. Our interest rate was 4 %. for the XXXX purchased in XXXX, then it was totaled in a car accident in XXXX XXXX. XXXX XXXX XXXX XXXX and XXXX XXXX go into XXXX to fiance a XXXX XXXX. I do believe the BLUE BOOK VALUE was around XXXX, but the modestly had it priced at XXXX. The first thing out the the car dealers mouth was asking XXXX XXXX " DO YOU KNOW A XXXX? '' In which XXXX XXXX replied NO. The dealer then said that XXXX WAS USING XXXX XXXX CREDIT without his authoriztion, inwhich we supplied DEALER with info on severe identity theft issues we had happen in the prior few years. We were told we would only have to put {$1000.00} down. During the paperwork process we were then notified that we would need to put an additional {$1000.00} down {$2000.00} down. So we did. We were then notified that we would be paying 13 % interest, then short time later we were told 15 %, and this went on for hour til we were finally told 19.95 interest. We found this to be highly irregular. I thought there as a cap on how much interest you could exploit someone for, knowing they been idenity theft and had a 100 % clean track record. So by the time the whole thing finished, we were told we be going with XXXX XXXX XXXX again, but no we later found out QUALITY ACCEPTANCE. During the next year we made good on all XXXX next payments of {$370.00}, however we were both getting an on slot of calls from QUALITY that were unneeded, I was told after a year we could get our finance charge lowered, but no even cared to help us. I contacted the FTC commission for THREE reasons in XXXX XXXX #! QUALITY ACCEPTANCE was off its rocker with unneeded harassing phone calls. # 2 We were promised lower interest, we were also told this interest rate was alot higher than it should have been. # 3 The sales slip is attached here. The over charged us about {$3000.00} in interest. As you see all way to left a column starts ANNUAL PERCENTAGE RATE 19.95 FINANCE CHARGE XXXX AMOUNT FINANCED XXXX TOTAL OF PAYMENTS XXXX If you look at it quickly you can see the mistake clear as day, if amount FIANCED is XXXX and interest is 19.95 ( though way higher than allowed ) you can see that fiance charge XXXX is almost at 43 % not XXXX. The correct price is XXXX plus XXXX ( XXXX ) that is {$14.00} NOT XXXX DIFFERENCE of XXXX As well I told FTC I was surrendering the car for these three reasons, on may way to do so, someone backed into me and caused damage to the rear end of the car. I called the insurance company and I left the info with the plates for XXXX, and then come a huge amount of phone calls and huge amount of threatening letters from QUAILTY ACCEPTANCE. The sold the car for {$4000.00} without even bothering getting it fixed with my info which is neither here nor there, cause like I said, we paid XXXX payments XXXX the XXXX payments we made XXXX how much QUALITY got for the car at auction XXXX the amount XXXX XXXX paid in XXXX XXXX Thats XXXX NOT INCLUDING BLUE BOOK which QUALITY nor RELAIBLE bothered to count in It is true we did not call QUALITY back right away, all the harrassing phone calls and letters started early XXXX XXXX and went on til XXXX XXXX with a very serious threatening letter from them. So, its our money, yet, look all that happened, look, this is not a joke, look at this. So finally things calmed down, XXXX overpaid hoping it would help get QUALITY off our credit, after think about it, how were we late with a payment, we are being charged 19.95 interest, a rate suppose go lower, we paid XXXX payments in a row, we turned the car in and they got {$4000.00} to put toward the balance, so no we were no late, so when XXXX overpaid be