Consumer complaint received 2024-02-06
Product: Vehicle loan or lease — Lease
Issue: Managing the loan or lease — Problem with fees charged
Company: Mercedes Benz Financial Services (MD)

On XX/XX/2023, I solemnly entered into a consumer credit transaction with Mercedes-Benz Financial Services USA LLC , an engagement that has since unveiled significant non-compliance and oversight concerns with the stipulations outlined in USC 1506 . This transaction, meant to be governed by the principles of transparency and fairness as mandated by federal law, has unfortunately fallen short of these foundational standards. 

Most concerning is the glaring omission of my right to rescissiona fundamental protection guaranteed to consumers, which was conspicuously absent from the proceedings of our agreement. Within the initial 30-day period following the transaction, I duly secured an interest in the vehicle, a critical juncture at which Mercedes-Benz Financial Services USA LLC egregiously failed to recognize and honor this vested interest. This oversight not only undermines the trust placed in such financial agreements but also signals a stark deviation from the legal obligations that govern consumer credit transactions.

The implications of these actionsor lack thereofby Mercedes-Benz Financial Services USA LLC are not merely procedural errors but constitute a profound breach of trust and a clear violation of established consumer rights. It is with a grave sense of urgency and a call for justice that I implore the Consumer Financial Protection Bureau to undertake a thorough and immediate investigation into these matters. 

The integrity of consumer finance relies upon the unwavering enforcement of our laws and the swift correction of such grievous violations. It is my fervent hope that the CFPB will not only address this specific incident with the seriousness it warrants but also take decisive action to prevent such breaches from occurring in the future, thus upholding the rights and protections afforded to all consumers under the law. 

Fact, The Truth in Lending Act is intended to inform consumers about the cost of credit. 

Fact, The Truth in Lending Act is intended to protect consumers against abuse and deceit by creditors and I have been abused and deceived so be it. 

Fact, XXXX is aware and has proof in attachment labeled as Exhibit A ( Contract ) that Mercedes-Benz Financial Services USA LLC , also known as Mercedes-Benz USA , LLC , also known as Mercedes-Benz XXXX XXXX, is in violation of 15 USC 1605 ( a ). A finance charge is the sum of all charges in a consumer credit transaction, and it does not include cash. Benz Financial Services USA LLC, also known as Mercedes-Benz USA , LLC, also known as Mercedes-Benz Vehicle Trust , is in violation of 15 USC 1605 ( a ) demanded cash payment ( federal-reserve notes ) of {$3500.00} from me to complete the consumer credit transaction. Furthermore, I was told I must buy the maintenance package, and the tire warranty package, which should be included in the finance charge. In addition, the following fees are not included in the finance charge, each additional fee was added separately to the entire cost of the car : title fee - {$270.00}, acquisition fee - {$1000.00}, sales/tax fee - {$2000.00}, processing fee - {$790.00}, XXXX XXXX XXXX {$3400.00}XXXX XXXX XXXX  - {$1900.00}. The car cost {$54000.00}, after each fee listed above, the cars new total is : {$63000.00}. I was charged additional fees of {$9500.00}. Furthermore, the following are finance charges labeled as non-finance charges Rent Charge- {$21000.00} and Prior Lien/Lease balance - {$10000.00}. 

Fact, XXXX is aware and has proof in attachment labeled as Exhibit A ( Contract ) that Mercedes-Benz Financial Services USA LLC XXXX also known as Mercedes-Benz USA , LLC , also known as Mercedes-Benz XXXX XXXX, is in violation of 15 USC 1605 ( b ). This credit transaction did not include credit life and credit disability premium by the creditor. 

Fact, XXXX is aware and has proof in attachment labeled as Exhibit A ( Contract ) that Mercedes-Benz Financial Services USA LLC , also known as Mercedes-Benz USA , LLC , also known as Mercedes-Benz XXXX XXXX, is in violation of 15 USC 1605 ( c ). This credit transaction included a finance charge, and the finance charge includes insurance which protects the creditor against the obligors loss, and or property damage. Mercedes-Benz Financial Services USA LLC , also known as Mercedes-Benz USA , LLC , also known as Mercedes-Benz XXXX XXXX, did not include my insurance in my finance charge, my insurance will be purchased separately. 

Fact, XXXX is aware and has proof in the attachment labeled as Exhibit A ( Contract ) that Mercedes-Benz Financial Services USA LLC , also known as Mercedes-Benz USA , LLC , also known as Mercedes-Benz XXXX XXXX, is in violation of 15 USC 1640. Mercedes-Benz Financial Services USA LLC , also known as Mercedes-Benz USA , LLC , also known as Mercedes-Benz XXXX XXXX, willfully and knowingly failed to provide/disclose information required under the provisions 15 USC 1635. Pursuant to 15 USC 1640 ( 2 ) ( a ) ( i ) Mercedes-Benz Financial Services USA LLC , also known as Mercedes-Benz USA , LLC , also known as Mercedes-Benz XXXX XXXX, is liable in an equal amount to the sum of double the finance charge. 

Fact, XXXX is aware and has proof in attachment labelled as Exhibit A ( Contract ) Mercedes-Benz Financial Services USA LLC , also known as Mercedes-Benz USA , LLC , also known as Mercedes-Benz XXXX XXXX, is in violation of 15 u s 1611. Mercedes-Benz Financial Services USA LLC , also known as Mercedes-Benz USA , LLC , also known as Mercedes-Benz XXXX XXXX, willfully and knowingly failed to provide/disclose information required under the provisions of15 use 1601. They are now civilly and criminally liable.