Consumer complaint received 2025-06-13 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — High-pressure sales tactics
Company: RANDOLPH-BROOKS FEDERAL CREDIT UNION
State: TX

Complaint narrative:
I am submitting this complaint against XXXX XXXX and the financing company that funded my auto loan for engaging in deceptive and predatory auto sales and financing practices, which I believe violate consumer protection laws, including the Truth in Lending Act ( TILA ) and Texas Deceptive Trade Practices Act ( DTPA ). 

On XX/XX/XXXX, I purchased a used XXXX XXXX XXXX XXXX Classic from XXXX XXXX in XXXX XXXX, Texas. The advertised and expected fair market value for this vehicle is approximately {$35000.00}, yet the dealership financed the vehicle for {$56000.00} at 7.65 % interest, with no down payment and no trade-in to justify such a significant markup. At the time, I felt pressured into the deal and was not given time to independently review or negotiate fair terms. 

After realizing the XXXX XXXX XXXX XXXX I returned to the dealership within a short time seeking help. The dealership presented a supposed solution they would sell me another vehicle, a used XXXX, and claimed that by taking on a new loan for that vehicle, it would somehow absorb or cancel out the XXXX equity of the XXXX XXXX over time. I was desperate and confused, and under continued pressure, I agreed. 

This second vehicle was financed for around {$70000.00} at an interest rate of 11.25 %, despite the cars actual value being close to {$30000.00}. At no time did the dealership clearly explain the financial logic behind this move or show me how this would benefit me. I later realized I had now taken on XXXX severely inflated loans on vehicles that were worth less than half of the total debt. 

Eventually, the dealership agreed to take the XXXX back, but refused to unwind or cancel the XXXX XXXX loan, which I believe was the root of the problem and structured unfairly to begin with. 

To make matters worse, the dealership allowed me to take possession XXXX XXXX off the lot with both vehicles without verifying that I had full coverage insurance in place a standard requirement for any financed vehicle. Full coverage was neither confirmed nor requested before either deal was finalized. This is a violation of most lender policies and, I believe, contributes to the argument that the transaction was improperly handled and should be subject to review or cancellation. 

My concerns are as follows : The dealership and/or lender approved a loan grossly exceeding the vehicles value, potentially creating a situation of unconscionable lending. 

The dealership misled me into taking on additional debt by offering a second vehicle as a way to solve the first loans imbalance an action that only compounded the financial harm. 

No full coverage insurance was in place when I was allowed to take possession, which XXXX violate financing guidelines. 

The sales tactics used were misleading, high-pressure, and lacked transparency. 

The dealership and finance company failed to protect me as a consumer, leading to serious XXXX XXXX XXXX XXXX 


I am requesting that the CFPB investigate this matter for : Violations of the Truth in Lending Act ( lack of full disclosure of loan terms ) Violations of fair lending practices Deceptive sales tactics under the Texas XXXX Potential contract cancellation or restitution due to unconscionable and unfair terms I am prepared to provide all relevant documentation, including : Purchase contracts Vehicle valuations ( XXXX ) XXXX with the dealership Thank you for your time and consideration. I respectfully request a full review and investigation into this matter.

Company response to consumer: Closed with explanation