Consumer complaint received 2016-03-09
Product: Consumer Loan — Vehicle loan
Issue: Taking out the loan or lease — 
Company: FORD MOTOR CREDIT CO. (FL)

XXXX/XXXX/XXXX XXXX XXXX XXXX sold me a used XXXX Ford Cmax. FordCredit & dealer ran XXXX hard inquiries on my credit, offered 5.55 % same as lender I had, so I went w/FordCredit. The car was being prepped so I returned the next day to sign. 

XXXX/XXXX/XXXX FordCredit ran another hard inquiry ; dealer said my Fico was lower today so interest is raised to 7.5 %. I protest it 's Ford 's XXXX hard inquiries pushing it down. We settled at 6.55 % with {$2000.00} down, monthly pymt of {$240.00} mo/60 mos. No negotiation on car price. 

A team member brought a warranty, saying the car needs one as if FordCredit required it, so I agreed to the lowest {$1900.00} service plan folded into the loan. 

They withheld the Ford bumper to bumper was to XX/XX/XXXX on the car, plus a 1yr RAV ( reacquired vehicle ) warranty. With XXXX warranties, it 's a lie to say the car needs another one. They did not disclose it was n't a XXXX service contract they sold - intentionally misleading. 

I 'd signed and was waiting for the car keys as dealership was closing. Instead, my salesman hurries out with a packet of documents for me -- ALL required to be given PRIOR TO THE PURCHASE. Both warranties, RAV and Ford 's, XXXX and service history record I 'd requested XXXX/XXXX/XXXX before coming in. 

He 'd said he just got XXXX and RAV Repair History but it shows he had XXXX XX/XX/XXXX and XXXX XX/XX/XXXX with the required repair history explaining it was reacquired for the defects " start, run/move, starting, no crank, intermittent ''. 

He lied about not having the documents, witheld required disclosures. He had presented only a XXXX pg Repair Order Detail ( not on XXXX letterhead ) in lieu of the XXXX page required RAV repair history. 

Fast forward, XX/XX/XXXX XXXX service plan is mailed and I figure out it 's not Ford 's because it requires pre-authorizations, a huge deductible on each item in a single visit. 

THE BATTLE TO CANCEL IT begins. XXXX says FordCredit cancels, Ford says dealer, dealer says XXXX XXXX XXXX XXXX is in charge. Their finance manager XXXX XXXX says it 's at his discretion, and wo n't cancel because I 'm misinformed ; he keeps insisting I buy another plan if I cancel that one. Finally I email his XXXX XXXX XXXX XXXX to move XXXX along, who now claims it takes 4-6 weeks so holding it up to XXXX/XXXX/XXXX is normal. The {$1900.00} is n't applied back on the loan, only {$1800.00}, though the only contact w/XXXX was the call to cancel. The {$160.00} " they '' took out was kept on the loan, with no invoice, statement of commission or penalty. 

XXXX/XXXX/XXXX FordCredit starts rewriting loan statements online. A new agreement dated XXXX/XXXX/XXXX states the schedule is now XXXX pymts of {$240.00} starting with XXXX/XXXX/XXXX pymt ( already made ). Though XXXX payments ( XX/XX/XXXX-XX/XX/XXXX ) were paid at {$270.00} it was n't changed to {$240.00} in online account. It was all prepayment. 

XXXX XXXX stmt showed next payment due XXXX XXXX, XXXX. 
XXXX XXXX, XXXX I check online and the acct is PAST DUE BY 2 MOS. Not one notice. Not one FordCredit rep understands how $ XXXX paid in 8 mos on {$13000.00} loan can be arrears. After 3 hour calls, XXXX page fax of of stmts to CustomerService, XXXX XXXX, Team XXXX finally confirms receipt of fax. He sees the changing acct numbers, but it 's automatic delinquent reporting to credit bureau on 30 days late. FordCredit ca n't stop it, flag acct until their fiddling w/acct numbers is done. 

XXXX/XXXX/XXXX make 11th pymt, still not credited. XX/XX/XXXX pymt was applied to XX/XX/XXXX as ALL INTEREST no principal. ( {$530.00} interest in XX/XX/XXXX, but already {$250.00} ytd in XX/XX/XXXX? ) No one at FordCredit can explain what 's going on yet. The principal balance is unchanged since XXXX/XXXX/XXXX. Another lender was shocked at acct 's changing status with only 1 notice from FordCredit of changes, and that XXXX/XXXX/XXXX agreement was never in the changes. 

I want to move to a credit union- but payoff keeps going up, and pymts left increased.