Consumer complaint received 08/14/2017 about Vehicle loan or lease (Loan) with NISSAN MOTOR ACCEPTANCE CORPORATION (CA).
Issue: Managing the loan or lease
Sub-issue: Problem with fees charged

Complaint: On XX/XX/2016 I was offered a low interest auto loan if I bought a new car from a dealership and that they were going to take in as trade my present less than 2 yrs. old car which I owed money on still ( more than the car was worth because of high interest rate on loan I had on it ). I was told that my loan for the new car would be around 9 % and that they were going to be able to erase most of the negative equity taking in my trade-in because of all the rebates and offers that applied to me buying the new car from them. ( Which I would have gotten on the new vehicle w/o using it up on the trade-in negative amount ). Anyways, they raised the interest rate higher saying that I could n't get the rate first mentioned, they told me that I had to buy GAP insurance, an extended warrenty, etc. On the contract # 6 : Total Down Payment A. Total Agreed Value = {$10000.00} B. Total less prior credit {$19000.00} C : Total Net Trade-in ( A-B ) : -XXXXX, E. Manufacturer 's Rebate : {$4200.00} G. Cash, Credit Card, Check = {$1000.00} ( from my checking acct. ) Total Downpayment ( C thru G ) : {$0.00}. 7 : Amount Financed = {$40000.00}. Besides the fact that I just ended up paying {$1000.00} cash to the dealer which they used towards the neg on my old vehicle and not towards the cost of the new car, I was also made to pay for an extended warranty which I did n't want ( the car came with a good warranty that covered the car for like 60 months/100,000 miles. But they told me I had to purchase the 72 month/75,000 ( Optional Service Contract ) which was {$3200.00} and the GAP ( Optional Debt Cancellation Agreement ) of {$990.00} = a total of {$4200.00} ). On the contract item J : Prior Credit or Lease Balance paid by Seller to Vehicle 1 ( XXXX XXXX ) {$3900.00}. Are you confused? Well I certainly was. I mentioned that I did n't know what I was signing and basically I was told do n't worry it 's all fine, we would n't trick you or anything. BUT ... ..the next day, I received a call from the Dealer and they were asking me to come back because the contract had a mistake on it and they needed me to come in to sign a corrected contract. It seems that they somehow had DOUBLED the TAXES charged on the new vehicle. Contract item G : {$4500.00}. Well I had noticed that, like I really had time to, no calculator with me, my head was swimming, and they assured me that everything was correct on the contract. SECOND CONTRACT : I was told that correcting the amount of tax on the contract would n't be changing the actual payment I was going to be paying every month. WHAT? I mean if I was getting a loan for a smaller amount why would n't the payment be lowered. Now I ca n't tell you what they said was the reason, because frankly, I did n't understand a thing they were throwing at me. However, as the finance guy was re-doing the contract while I was there he said to me, " Oh, yeah, cuz of this trouble I 'm going to give you a lifetime oil & tune-up warrenty, you just bring the car in every time that you need to get that service and we 'll do it here for free. '' Not until I got home and tried to go over this contract trying to figure out what the XXXX had just happened, did I notice that he gave me? He charged me for the Lifetime Oil ( only oil ) Contract in the amount of {$440.00}. He lowered the amount of tax charged on line G. from {$4500.00} to {$2300.00} ( when actually half of the taxes would have been {$2200.00} - go figure ). I believe that the difference of {$2200.00} or 1/2 of the doubled taxes charged on the original contract should have been subtracted off the balance owed and financed. But instead he added in the fee for the " Lifetime Oil '' of {$440.00} ( which I did not want, did not ask for, and was respresented to me as being a freebie ) and that leaves an amount of at least {$1800.00} that went to where??? I left my copy of the original contract at home so that I would n't have to give it to them thank gosh ... .they asked for it and I told them I had forgotten it and they told me to make sure and shred it up and throw it away when I got home so that I did n't accidentally mix it up with the one that was corrected. So please see attached copies of both contracts. On the first the Total Cash Price of the vehicle is {$27000.00} and on the " corrected one '' it goes up to a new total cash price of {$28000.00} for the very same exact vehicle. I do n't ' understand how they could just raise the price of the vehicle from the price that they had negotiated with me and that I agreed to purchase the car for after the original contract was signed, etc. I was n't told that they were going to do that and why should I be charged this extra money which of course is in the amount of the loan that I am going to have to pay for the vehicle. Another change was on XXXX XXXX. = Prior Credit or Lease Balance paid by Seller to Vehicle a XXXX XXXX from {$3900.00} on the first contract to {$4200.00} on the second contract. Since I do n't even understand what that is referring to, as in where they come in with that amount?? Under Downpayment on the contracts Item 6. Total Downpayment A. Agreed value of trade in = {$10000.00}. is the same on both, but on line B. Total Less Prior Credit vehicle 1 = {$19000.00} on the first contract and {$19000.00} on the second contract. = C. Total Net trade in ( A-B ) vehicle 1 = minus {$9200.00} on first contract and minus {$9500.00} on second contract. The amouonts that I paid in cash of {$1000.00} and the manufacturer 's Rebates of {$4200.00} for buying the new car which total {$5200.00} actually go to paying off my trade in and not towards the vehicle that I just purchased. The way I see this the new car should have cost me the amount that we had agreed on {$27000.00} plus tax & license, taxes & fees = {$30000.00} I really did n't need the optional warranty or the Gap Insurance = {$4200.00} and I especially did n't need, want, ask for and actually was told I was being given the " Lifetime Oil '' which I was actually charged for in the amount of {$440.00}. Sub-total of {$4600.00}. I could have received the rebates of {$4200.00} and should have gotten credit for the {$1000.00} I gave them cash. Leaving me with a {$24000.00} loan to pay on the car that I bought. However, I traded in a car that I still owed {$19000.00} for and so after we agreed the value of the trade in would be {$10000.00} and they were going to pay me that for the car. There was still {$9200.00} that needed to be paid to pay off my original car loan. That amount would be added to my new car loan. XXXX plus {$9200.00} = {$33000.00}. My loan was financed for {$40000.00} on the frirst contract and {$40000.00} on the second contract ( is n't that strange that the final amount financed on both contracts was for the same amount even though there had been that error of double taxes " accidentally computed incorrectly on the first contract ''?. I am paying a very large car payment every month and I 'm a retired XXXX yr. old woman on a small pension amount. I do n't know how they got this loan to go through. I wanted to lower my interest rate on my original car loan that was very high because my credit was n't all that great but I had been working on it. I was already at a {$520.00} a month payment and I was hoping to lower that because it was too high to pay each month. I walked out of there dizzy, spinning, enticed by the brand new fancy car and fast talking, salesmen who put me into a lower interest rate loan but not by very much percentage wise and into a new loan for a newer vehicle which included all the money I still owed on my other contract plus I gave them {$1000.00} which they used towards paying for the vehicle I traded in and warranties for the new car I did n't want and did n't need and charged me a lot for all of those warrenties that I did n't ask for or want. My new car payment is {$760.00} a month and every month I am barely able to pay my bills without using up credit on my credit cards to get by for foodl, etc.

Company response to consumer: Closed with explanation