Consumer complaint received 2025-09-05 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Repossession — Notice to repossess
Company: TD BANK US HOLDING COMPANY
State: TN

Complaint narrative:
Predatory Auto Loan & Repossession Dispute Letter Date : XX/XX/XXXXXXXX  XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX, TN XXXX XXXX Account ending in XXXX TO : Tennessee Attorney General Consumer Affairs Division XXXX XXXX XXXX XXXXXXXX, TN XXXX XXXX AND : Consumer Financial Protection Bureau ( CFPB ) Submitted online at : https : //www.consumerfinance.govXXXXXXXX Re : Complaint and Dispute Regarding Predatory Auto Loan and Unlawful Repossession Dear Sir or Madam : I am filing this complaint against TD Auto Finance and XXXX XXXX XXXX XXXX XXXXXXXX, TN regarding what I believe are predatory lending practices, unfair loan terms, and a potentially unlawful vehicle repossession. 

In XX/XX/XXXX, I purchased a XXXXXXXX XXXX XXXX XXXX XXXXXXXX XXXX. I was quoted a {$64000.00} vehicle price, which I now understand included a costly aftermarket warranty that was never disclosed to me during the sales process. A TD Bank escalations manager recently confirmed this. The contract was signed electronically in about 3 minutes using an outdated digital signature system, and I was never shown or provided with a physical copy to review beforehand. I was being rushed out the door as the dealers... 

Furthermore, I was given conflicting information about the repossession. A TD Bank representative initially told me I had 34 weeks before the vehicle would be sold. However, I was later told by an escalations manager that the sale would occur within 15 days. She also deflected responsibility for the disturbing and damaging repossession process to a third-party tow yard ( XXXX  in XXXX, TN ), even though TD Bank authorized the repossession. 

Additionally, the manner in which the repossession was conducted raises serious legal concerns. On the night of the repossession ( approximately XXXX XXXX  ), the tow truck operator : - Backed over my neighbors lawn to access my vehicle and had no right or authorization to enter their property line. 
- Damaged my neighbors lawn, tree and the XXXX XXXX while extracting the vehicle. 
- Broke into my car to confirm the VIN number, triggering the car alarm, which disturbed multiple families in our neighborhood, including children. 
The actions taken caused substantial property damage, public disturbance, and distress, and were witnessed by myself, my wife and others. The repossession agent also appeared uncertain about whether the vehicle was the correct target, raising questions about the competence and legality of their actions. The agent also appeared and smelled intoxicated, which would explain the carelessness of trespassing on and damaging my neighbors property. This conduct constitutes a " breach of the peace, '' which invalidates the right to repossess without judicial process. 

Here are the troubling loan and financial terms : - Financed amount : {$67000.00} - Downpayment : {$1100.00} - APR : 9.69 % - Daily interest : $ XXXX - Loan payoff : {$63000.00} - Total repayment with interest : approx. {$90000.00} - Repo recovery fee : {$4400.00} - Trade-in vehicle : XXXX XXXX XXXX XXXX XXXXXXXX ( low mileage ) The vehicles fair market auction value is currently {$38000.00} {$45000.00}, meaning our family would owe an estimated {$26000.00} deficiency if I allow the auction to proceed. However, reclaiming the vehicle would cost {$4400.00} now, and I would then owe approximately {$48000.00} over the next 3 years in payments. I have identified a more affordable vehicle that better suits my familys needs, and opting for that would save me {$29000.00} over 3 years and help rebuild my credit. 

Given the rushed contract signing, inflated sale price, hidden add-ons, conflicting repossession timelines, and overall treatment, I respectfully request the following : 1. An investigation into the loan and dealership ( XXXX XXXX XXXX in XXXX, TN ) practices for potential TILA and Tennessee Consumer Protection Act violations. 
2. Oversight of TD Banks repossession and communication procedures. 
3. Review of the third-party repo vendor 's conduct and damage caused during the recovery. 

I am seeking relief and transparency. I would welcome the opportunity to provide further information or supporting documentation. 

Sincerely, XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX, TN XXXX XXXX Account ending in XXXX Update as of XX/XX/XXXX : I have emailed and mailed the enclosed letter to the TD Auto Finance Customer Resolution Department, which serves as a formal debt dispute under applicable federal and Tennessee law. I am seeking a fair resolution and request that all collection and sale activity be paused until this matter is fully reviewed. Our vehicle was repossessed on XX/XX/XXXX. As of XX/XX/XXXX, I have yet to receive any formal notice regarding the sale of our XXXX XXXX, confirmation of its location, a copy of the loan contract or the exact amount of money required to reinstate the loan to get access to use the vehicle and where such payment needs to be mailed. 
ENCLOSED : LETTER MAILED TO TD AUTO FINANCE CUSTOMER RESOLUTION DEPARTMENT LOCATED AT THE ADDRESSES LISTED BELOW. 

Formal Dispute and Request for Documentation Date : XX/XX/XXXXXXXX  XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX, TN XXXX XXXX Account ending in XXXX TO : TD Auto Finance ATTN : Customer Resolution Department XXXX XXXX XXXX XXXXXXXX XXXX, MI XXXX XXXX, XXXX, XXXX Re : Formal Dispute of Loan Terms and Request to Halt Sale of Repossessed Vehicle Dear Sir or Madam : I am writing to formally dispute the loan terms and balance related to my XXXX XXXX XXXX XXXX XXXX XXXX XXXX which was recently repossessed. I request that you immediately halt any sale or auction of the vehicle while this dispute is under review. 

Upon recent investigation, I discovered that the {$64000.00} cash price charged by XXXX XXXX XXXX in XXXX, TN included an extensive and expensive aftermarket warranty that was not disclosed to me at the time of sale. A TD Bank escalations manager confirmed this to me directly. She also confirmed that I signed using an outdated electronic signature system and was never provided with a physical copy of the contract to review before signing. The contract process was rushed and completed in approximately 3 minutes as the dealership was closing. 

Additionally, I was given inconsistent and conflicting information about the repossession and resale process. I was initially told by one TD Bank representative that I had 34 weeks before the car would be sold. However, the TD Bank escalations manager informed me that the vehicle would be sold in approximately 15 days. She also claimed that the repossession process and resulting disturbance ( including property damage and neighborhood disruption ) was not TD Banks responsibility, and I was directed to complain to XXXX  in XXXX, TN. 

The current loan details are troubling : - Total amount financed : {$67000.00} - XXXX : 9.69 % - Loan payoff balance : {$63000.00} - Total repayment with interest over 74 months : approximately {$90000.00} - Repo fee : {$750.00} | Total due to recover vehicle : {$4400.00} - Original downpayment : {$1100.00} - Daily interest accrual : $ XXXX - Trade-in allowance : {$63000.00} ( XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX This contract structure, coupled with an inflated vehicle price and a rushed electronic signature process, raises significant concerns about procedural fairness and potential predatory lending practices. 

As of late XX/XX/XXXX, the fair market auction value for a XXXX XXXX XXXX XXXX XXXX XXXX in typical condition is between {$38000.00} and {$45000.00}. If the vehicle sells at auction in that range, I could be left owing approximately {$26000.00} on a vehicle I no longer own or control. In contrast, if I retrieve the vehicle by paying {$4400.00} and resume $ XXXX payments, our family will pay around {$48000.00} over the next three years.

It has been difficult to get the kids to XXXX  and school without 2 cars and sudden loss of transportation without warning. So, alternatively, Ive reserved a newer, more affordable vehicle ( XXXX XXXX XXXX XXXX XXXX XXXX XXXX ) to replace my wifes repossessed XXXX XXXX XXXX Given the changes going from XXXX to XXXX children in a higher inflation economy, the monthly payment is more suitable for our familys needs. With a {$4400.00} downpayment and a co-sign from my mother, the monthly payment would be approximately $ XXXX {$29000.00} less over three years than continuing with the XXXX  loan. This would also help repair my credit more sustainably. 

Given the inconsistent communication, questionable loan structure, and pressure under which I signed, I request the following immediately : 1. A full accounting of the loan, including itemized charges and all added warranties or products and confirmation of whether these added warranties stay with the car or can be sold or reimbursed in a prorated fashion.

2. The original, signed loan agreement and Truth in Lending Act disclosures.

3. A complete timeline and notice history for the repossession and auction.

4. Written confirmation that the auction will be postponed until this dispute is resolved. 

This is a formal debt dispute under applicable federal and Tennessee law. I am seeking a fair resolution and request that all collection and sale activity be paused until this matter is fully reviewed. Our vehicle was repossessed on XX/XX/XXXX. As of XX/XX/XXXX, I have yet to receive any formal notice regarding the sale of our XXXX XXXX, confirmation of its location, a copy of the loan contract or the exact amount of money required to reinstate the loan to get access to use the vehicle and where such payment needs to be mailed. 

Sincerely, XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX, TN XXXX XXXX Account ending in XXXX

Company response to consumer: Closed with explanation