Consumer complaint received 2024-12-13 00:00:00
Product: Vehicle loan or lease — Lease
Issue: Getting a loan or lease — Credit denial
Company: Volvo Car Financial Services U.S., LLC
State: CA

Complaint narrative:
My current XXXX  month lease of a Volvo XXXX XXXX is due to expire at the end of XX/XX/XXXX ( in days ). I researched and decided I wanted to lease the same ; a new XXXX Volvo XXXX Hybrid in the current model year. I contacted the dealership in XXXX XXXX Volvo XXXX XXXX ) and negotiated the lease terms with a salesman over text. We set an appointment for XXXX  XX/XX/XXXX to meet at the dealership to both complete the lease on the new XXXX car and turn in my current XXXX lease. 

On the 9th, while completing the new car lease, the salesman entered errant information on the credit application. He stated that my income was {$5000.00} monthly and that my current mortgage was XXXX XXXX  monthly. However, I had clearly communicated that my household income is over {$25000.00} monthly. The salesman even went into the General Managers office to clarify what to enter and assured me -- " not going to be a problem. '' Volvo Financial denied my lease. 

I have a credit score of XXXX. I have been a loyal Volvo owner for over 25 years. I purchased my first Volvo in my mid 20 's. In my life I have worked inside and outside the home. My household income is healthy and we own 2 homes. We have a healthy bank statement and carry no debt.

I escalated the issue to the Volvo XXXX XXXX General Manager, who contacted Volvo Finance again. I was again denied. I was told my debt-to-income ratio was too low. I would need my husband to come on the deal as a co-signer. I have not ever needed a co-signer on a vehicle purchase or lease. Even the salesman stated Im so confused youre a gold brick with your history and that credit score!

Three hours had passed at Volvo XXXX XXXX and I was told I would need to coordinate a time to come in WITH MY HUSBAND. 

Since Volvo XXXX XXXX had mis-entered my information and couldnt finalize the deal I believed them to be untrustworthy. I began a new negotiation with a different Volvo dealership ; Volvo XXXX XXXX XXXX Volvo XXXX ), that afternoon. 

By XX/XX/XXXX, I negotiated an almost identical deal on an identical make/model/color with Volvo XXXX. I asked Volvo XXXX to begin the paperwork process before I arrived at the dealership. I sent my license, insurance, registration etcetera over to the salesman I was working with. The salesman sent me the credit application to fill out myself. 

On this application I put my correct household information. Income {$25000.00} per month. Mortgage on home {$6000.00} per month and at address for over 5 years. I listed my husbands advertising agency as the source of income and that weve owned the agency for 20 years plus 3 months. We both pull a salary from it, although mine is quite small. On the application I added income from our rental property of XXXX XXXX monthly. 

Volvo Financial told the Volvo XXXX dealership that I was playing some sort of game. They denied my lease again. The General Manager of Volvo XXXX escalated it to Volvo Financial again and they demanded I send in my XXXX W2s and tax returns. I did. It confirmed our household income of over {$300000.00} annually and all the other information I had provided. They again denied my lease application saying debt-to-income and that I was working some sort of game because I started at the other dealership. I would need my husband to fix it. The salesman and the General Manager of Volvo XXXX both assured me they would continue to escalate and try to get the negotiation complete. Again I was told youre a gold brick with your credit score and loyalty, Ive never seen this happen in 30 years. But Volvo Financial, whom Ive been loyal to for TWENTY FIVE YEARS denied me. They said, just have her husband come in! 

I am told that the only way I can get a lease into the exact same car Im driving now ( except XXXX instead of XXXX ), is to have my husband step in and fix this for me. They will only offer a co-sign deal with my husband 's name on the lease. After 25 years of my personal loyalty to Volvo. My husband never wanted a Volvo. My husband only co-owned a Volvo because I owned Volvos. I boast a personal credit score of XXXX! And a household income that makes it clear I have options. 

I beg plead and pray that if youre not a woman reviewing this, that you consider your sister/mother/wife/daughter/friend and ask if this is going to be ok when SHE gets denied on the deal SHE did the research & work & negotiations for on the car SHEs going to drive, gas up/charge, pay for and maintain. SHE was fully qualified to get it. SHE always has been. And SHE is the one thats loyal. You see this is shameful.

Volvo Financial already has my detailed documentation and most intimate information. I will not be resubmitting documents unless by direct request of the CFPB.

Company response to consumer: Closed with explanation