Consumer complaint received 2025-03-24 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Problems at the end of the loan or lease — Problem with paying off the loan
Company: Bridgecrest Acceptance Corporation
State: FL

Complaint narrative:
On or about XX/XX/XXXX, I am filed a complaint against Bridgecrest Acceptance Corporation when they falsely stated that I owed them {$5800.00} as of XX/XX/XXXX at the end of the loan. I have asked Bridgecrest to address their improper handling of my auto loan, including misrepresentation of finance charges, failure to provide accurate disclosures, and inaccurate credit reporting. 

To reiterate, on XX/XX/XXXX, I entered into a Retail Installment Contract and Security Agreement ( the " Contract '' ) with XXXX XXXX for the purchase and financing of my XXXX XXXX XXXX. Bridgecrest services this loan. According to my contract, the Annual Percentage Rate ( APR ) was disclosed as 23.57 %, and the total finance charge was stated as {$18000.00}. However, Bridgecrest has incorrectly applied a finance charge based on an interest rate of 14.564 %, which is not disclosed anywhere in my contract. Their response to me dated XX/XX/XXXX misrepresented my required monthly payment amount as {$390.00}, when my contract states it is {$560.00} per month. They also falsely claimed that my account was past due XXXX times, while their own transaction history ( provided on XX/XX/XXXX ) shows fewer than XXXX past-due occurrences. 

Bridgecrest modified my payment schedule and final payment amount without proper disclosure, violating TILA disclosure requirements. They also failed to correct inaccurate credit reporting, despite my requests for a proper accounting of my balance and payment history. 

Bridgecrests response to my inquiries suggests that the finance charge was an " estimate '' rather than a firm amount. However, my contract does not contain any language indicating that the finance charge is an estimate. This could constitute a violation of the Truth in Lending Act ( TILA ), 15 U.S.C. 1601 et seq., which requires lenders to clearly and accurately disclose finance charges. 

Additionally, Bridgecrest unilaterally altered my finance charge and final payment amount without proper written disclosure in violation of TILA regulations. Bridgecrest claims that my finance charge was based on an interest rate of 14.564 %, even though my contract explicitly states that the APR is 23.57 %. They have not provided any contractual basis for this lower rate and how it was applied. 

Furthermore, in their correspondece with me, they misrepresented my monthly payment as {$390.00}, when in reality, my contract states {$560.00} per month, with one final payment of {$390.00} due at the end of the loan term. 

I believe that Bridgecrest may have violated the Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681s-2, which requires lenders to accurately report credit information and correct errors when disputed. 

I have repeatedly requested clarification and documentation from Bridgecrest, including a full amortization schedule showing how finance charges were applied. Bridgecrest stated that they do not provide customers with this information. 

I asked for a corrected balance statement reflecting the proper finance charge and payments made, I was told on a call on XX/XX/XXXX by a Bridgecrest representative that although she could see the differing finance charge on her end, she could not provide me with this in writing. Bridgecrest has failed to provide a satisfactory explanation or remedy these discrepancies.

Company response to consumer: Closed with explanation