Consumer complaint received 2020-08-10
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Confusing or misleading advertising or marketing
Company: TD BANK US HOLDING COMPANY (GA)

XX/XX/XXXX To Whom It May Concern : I would like to share my experience on XX/XX/XXXX at XXXX XXXX in XXXX, Georgia. I purchased a new XXXX XXXX XXXXXXXX XXXX. I was assured that the price that I was paying was actually a good price for what the car was worth. I requested a drive out  price of {$43000.00}. I let the dealership know that my credit bureaus were locked due to previous identity theft. Unfortunately, I was not able to complete the transaction that day due to a power outage. I spoke to XXXX XXXX and instructed him not to shop my credit until the bureaus were unlocked then he could proceed. I returned to the dealership on XX/XX/XXXX, to complete the paperwork and take delivery of the car. I was surprised that the finance department added several warranties that I never asked for. I had previously purchased a warranty through another company so therefore, I knew that these charges were not previously authorized. I expressed my concerns and was assured that these fees could be removed within 30 days if I choose not to keep them. It was with this assurance that I closed the deal. I also asked who was the bank that they financed my loan through because I was not aware of the lender. I was again reassured that it was just one of their other lenders because XXXX XXXX  denied my credit due to the locked credit. I took delivery of the car. Over the next few weeks, I received several letters from banks that denied my credit due to the credit bureaus being locked. This annoyed me since I asked them to wait for my permission, but at this point there was nothing that could be done. About a week and a half later, I received a letter from a lender that stated my loan could not be approved due to negative equity in the car. I called the dealership and spoke to Mr. XXXX who listened to my concerns. I stated that I was told I couldnt refinance my car for four months by XXXX in the finance department. This was odd because I have never been told this before. XXXX stated that the dealership would not get paid for the car and I would lose my rebates. The irony is in spite of these rebates, I was informed by several banks that the car was overpriced. Mr. XXXX stated that he would investigate my concerns and return my call. Rather than Mr. XXXX returning my call, a man named XXXX called. I explained my concerns about my credit, and the questions regarding the value of the car. I was assured that the car was valued at the price that I paid. I was offered a free car wash for the credit issue, I told XXXX that this gesture would not suffice if this car was overpriced. Additionally, I told him I would be able to verify his claim of value once I refinanced the car. It was a couple of days later once I tried to refinance the car that my worst fears were realized. My credit union stated the car was priced {$10000.00} over book value. I was mortified. I again reached out to the dealership and actually spoke with the owner Mr. XXXX, who stated that I got a beautiful car and a fair price. He offered to speak to my credit union representative to assist in refinancing my car. However, this never happened. Their finance department spoke to their representative from my credit union who refused to discuss my loan as they didnt have my permission. I asked XXXX XXXX to call my loan officer and he refused. He only provided the sales paperwork. Needless to say, that deal never came to fruition. I sought out the assistance of a local bank and I gave them Mr. XXXX information and the bank stated he never returned their call. I'm very disappointed in the treatment that I have received. I'm a single mother that is possibly responsible for {$10000.00} that should have never been charged to me. The finance department knew this fact because they chose a lender unbeknownst to me that I recently discovered financed my loan without verifying the value of the car. This car is below XXXX XXXX value and this value was verified with an appraisal with an independent company. I have excellent credit and I didnt have to have a questionable lender to finance my car. This dealership did this in order to defraud me. This practice is totally unethical. It is my hope that someone can provide any assistance to resolve this matter.Thanking you in advance for your consideration in this matter.