Consumer complaint received 2018-11-07
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Problem with additional add-on products or services purchased with the loan
Company: General Motors Financial Company, Inc. (MI)

The morning of XX/XX/XXXX I took a financing offer from XXXX XXXX to XXXX XXXX. Terms were 5.69 % and specific to the XXXX XXXX XXXX I was purchasing - XXXX XXXX had researched the vehicle with VIN. Spoke with salesman. He said he would submit the offer to the finance officer and she would call me. I had put only {$200.00} down in my loan details with XXXX XXXX, however I told the salesman when he asked if I could put more down. I said if required yes, and I was open to ideas regarding better terms from the loan officer. He said she would call by early afternoon. At XXXX I had not heard from the loan officer, so I called the dealership. Salesman went to speak with loan officer and said she had found a loan that was 1 percent better than XXXX XXXX was offering. I thought that was great and said I would be in the next morning when I had a short time window to finalize the deal. When I returned the next day the loan officer showed me the paperwork and the rate was 8 %. She said that XXXX XXXX doesnt always have all the details and thus terms could change. I shouldve walked out right then - knowing I had supplied XXXX   XXXX with all the details - however I had shopped for a vehicle exactly like this for about 18 months ( they seem pretty rare especially in this good condition ) and wanted to get the purchase completed. Furthermore I did not have much time that day and was heading out of town that weekend. So I figured I would complete the deal and simply refinance. The loan officer then proceeded to try to sell me a few products she had worked into the deal. I declined two of them however accepted the Tire Care that she said costs about XXXX or XXXX dollars a month. When the paperwork came out, at which time I was pressing to make a work appointment, the cost was {$990.00} plus financing over a 60 month period. I told her her math of {$7.00} or XXXX was wrong - and asked if I could cancel this after the fact. She said yes. I finished the paperwork and purchased the vehicle - although not at all happy with the terms. 

When I got back in town I called XXXX XXXX on XX/XX/XXXX to cancel the Tire Care. They instructed me to take a copy of the agreement to the dealer. I took a copy to the dealer on XX/XX/XXXX, spoke with the loan officer and asked if there was anything else needed from me. She said no, and that the refund would be sent to my finance company ( GM Financial ),  which could take about a month to reflect on my account. 

At this time I also called XXXX XXXX to ask why the terms they had given me were not honored. It turned out that because of the add on products the loan officer had thrown into the deal the loan to value ratio was changed and thus higher rates were generated. This was done without my knowledge! Furthermore, four additional inquiries were registered on my credit, which had a lowering effect on my score. This is unscrupulous and should be illegal ( yes, I know I signed an permission slip for this. ) I been involved in a lot of financial dealings - this by far is the biggest scoundrel thing I have ever encountered. Ive learned my lesson though - never go to the dealer for financing. 

Back to the issue of getting a refund on the tire care. On XX/XX/XXXX I called XXXX XXXX to inquire about the cancellation.They said they had not received anything from the dealer so they would email me a form and take care of it. The emailed it to me, I returned it that same day. On XX/XX/XXXX I called XXXX XXXX to inquire if everything was in order and was told because I had bought this from XXXX I had to contact them for cancellation and transferred me to the XXXX Extended Service Plan department. They instructed me to send an email to them with instructions to cancel. I did that immediately. On XX/XX/XXXX I received a call from a different finance officer at XXXX XXXX asking me about the cancellation. After trying to re-sell me on the policy I declined and asked him to proceed with the cancellation. He said he would do so and I should have the amount - minus almost {$100.00} in cancellation fee and proration - credited to my account within a few weeks. 

That was a month ago. I called XXXX Extended Service again this week to ask the status and this time was told they dont handle this, had no record of it and I would have to visit the dealer for the refund. Ive been trying to deal with this for over three months. I feel it was an all around scam all along. I would appreciate getting a refund - preferably in full. I also think a reform on the way auto buyers are handled in cases like this is in order to save others from this abuse, which includes being switched into higher rate loans based on having products that were not asked for or discussed being added to the loan amount. 

Thank you.