Consumer complaint received 2025-03-14 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Problem with additional products or services purchased with the loan
Company: JPMORGAN CHASE & CO.
State: FL

Complaint narrative:
I am writing to formally file a complaint regarding JPMorgan Chases discriminatory buyback offer for XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX Specifically, Chase is offering significantly lower buyback amounts to XXXX XXXX XXXX owners compared to XXXX XXXX XXXX owners, despite both trims being identical and having the same original MSRP. 

Background Information I purchased a XXXX XXXX XXXX XXXX through XXXX XXXX, which was operated by JPMorgan Chase. 
My loan agreement was signed with Chase on XX/XX/XXXX, and I took delivery of the vehicle in XX/XX/XXXX. 
The MSRP of both the XXXX XXXX XXXX and XXXX XXXX XXXX was {$68000.00}, and both vehicles were manufactured and delivered at the same time. 
However, some XXXX XXXX XXXX owners purchased their vehicles for less than MSRP, as low as {$55000.00}, yet they are receiving much higher trade-in offers from Chase than One owners. 

Chases Unfair Buyback Offer On XX/XX/XXXX, I received an official buyback offer from Chase, stating they would purchase my XXXX XXXX XXXX for approximately {$36000.00}. 
Meanwhile, XXXX XXXX XXXX owners are being offered buyback amounts exceeding {$54000.00} to {$59000.00}. 
Both trims are identical in features, performance, and original MSRP, yet Chase is consistently offering XXXX XXXX owners over {$20000.00} less than Extreme owners. 
Given that some XXXX XXXX XXXX buyers paid significantly less than MSRP ( around {$55000.00} ) and are receiving $ XXXX buyback offers, Chases valuation method appears to be inconsistent and unfairly prejudiced against XXXX XXXX XXXX owners. 

Why This Is a Problem XXXX. Identical Vehicles, Unjustified Pricing Discrepancy : XXXX XXXX XXXX and XXXX XXXX XXXX have no mechanical, feature, or pricing differences other than name and sequence of production. 
Chases buyback pricing should reflect fair market value, not selectively devalue a particular trim. 
XXXX. Unfair Financial Impact on XXXX XXXX XXXX Owners : Many One owners financed their vehicles through Chase at full MSRP, yet Chase is lowballing their buyback offers. 
Chase is offering significantly higher payouts to buyers of a nearly identical vehicle who paid less originally, resulting in financial harm to XXXX XXXX owners. 
XXXX. Possible Unfair Lending or Trade Practices : Chase originated the loans for both trims and now appears to be disproportionately undervaluing XXXX XXXX vehicles. 
This raises concerns about potential unfair trade practices, as it financially punishes one group of customers over another for no legitimate reason. 

Requested Action I urge the CFPB to investigate Chases buyback valuation process and require them to : XXXX. Provide transparency on how they arrived at these inconsistent valuation figures. 
XXXX. Adjust their buyback offers for XXXX XXXX XXXX owners to be fair and consistent with XXXX owners. 
XXXX. Ensure no unfair trade practices were applied to XXXX XXXX XXXX buyers who financed through Chase. 

I appreciate your prompt attention to this matter, as Chases buyback process is actively disadvantaging a group of consumers without justification. Please feel free to reach out for any further details or documentation.

Company response to consumer: Closed with explanation