Consumer complaint received 2017-01-23
Product: Consumer Loan — Vehicle loan
Issue: Taking out the loan or lease — 
Company: COOLEY ENTERPRISES INC (TX)

On XXXX/XXXX/XXXX I began the car buying process with Clay Cooley Motor Co. On XXXX/XXXX/XXXX, the process was stagnated after the finance manager told me that I MUST purchase an extended warranty in order to complete the vehicle purchase. The document that I was told that was mandatory that I sign, had a clause in it that indicated that the " purchase of the extended warranty was not necessary in order to obtain vehicle financing ''. I declined to sign the document and left the dealership and immediately filed a complaint with CFPB that was later resolved at the corporate level on XXXX/XXXX/XXXX. I took ownership of the vehicle on XXXX/XXXX/XXXX. On the same day my original complaint was resolved, XXXX/XXXX/XXXX, I received an additional " welcome call '' confirming my auto purchase and the terms of my contract. During this conversation, it was discovered that the paperwork submitted to underwriting by Clay Cooley XXXX XXXX XXXX was not the same paperwork that I had signed with the dealer representative. I was asked by the underwriting manager XXXX to send her a copy of the contract that I signed at the dealership on XXXX/XXXX/XXXX. Once she saw the contract that I had in my possession, she indicated that all of my numbers were wrong and that I needed to sign a new contract at an interest rate 4 % higher than what I originally contracted for. Keep in mind, I was approved for financing one full calendar week before taking possession of any vehicle in their inventory. I was later advised by XXXX that the terms of the contract that I signed would be honored. I conferred with an attorney and based on the law in the state of Texas, I was in possession of a valid contract under the law, and it appeared as though the dealer did not want to honor the terms of the contract due to the fact that I had already filed a complaint against them because of the extended warranty. The warranty cost was taken off of my account, and it appears as though a higher interest rated was entered to make up the loss by the dealership. After my conversation with XXXX, I was assured that the information they have in the system would be corrected. I made my first car payment on XXXX/XXXX/XXXX ( one week early ) and to my surprise, learned that my interest rate was 20.93 %, although my contract states 17.10 %. I called customer service on XXXX/XXXX/XXXX and was deferred back to the dealership to resolve my concerns. I contacted the dealership and was told I needed to resign another contract. I asserted that I was in possession of a legal and binding contract and any mistakes made by the dealership are not the consumers responsibility to resolve. On XXXX/XXXX/XXXX, I inquired about the registration plates for my vehicle and was told " they had not come in yet ''. By XXXX/XXXX/XXXX, I still did not have tags for the vehicle as my paper tag was set to expire XXXX/XXXX/XXXX ( a Saturday ). I was directed to leave a voicemail for XXXX XXXX. I did not receive a call back. After not hearing back from the Clay Cooley representative, on XXXX/XXXX/XXXX I went to the local Tag Office in XXXX XXXX, TX with my sales contract and was advised nothing was showing filed with the state to register the vehicle I purchased on XXXX/XXXX/XXXX. I phoned XXXX XXXX again and she stated that she had not received any paperwork to forward to the state to register my car. At this point, Clay Cooley has reported the purchase of a vehicle to all three credit bureaus with a contract that I did not sign, they have willfully held title paperwork back and refuse to register the vehicle that I have been financially responsible for since XXXX/XXXX/XXXX. I lost two days of wages being unable to drive an unregistered car, and I have been charged and additional 4 % in interest since XXXX/XXXX/XXXX, unbeknownst to me without my signature. After repeated requests their representatives have refused to produce the sales contract showing my signature for the rate of 20.93 %.