Consumer complaint received 2025-12-09 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Loan sold or transferred to another company
Company: Byrider Franchising, LLC
State: IN

Complaint narrative:
XXXX. Conflicting Information Regarding Loan Ownership vs. Servicing The company states that my account was transferred to XXXX XXXX XXXX for XXXX and that the loan terms do not change, only the servicing of the account. 
However, my credit report reflects that the loan has been sold, not merely serviced. Additionally, XXXX representatives have repeatedly told me over the phone that they no longer own my loan and can not speak with me. That is not consistent with a standard transfer of servicing. 

XXXX, on the other hand, has repeatedly stated that XXXX still owns the loan, but also provided a Power of Attorney for a XXXX XXXX that my loan was allegedly placed into - something I was never notified of at any time. Neither XXXX nor XXXX has been able or willing to clearly identify the actual current legal owner/holder of the loan despite multiple requests. 

This directly contradicts the companys claim that the loan terms remain in effect and that XXXX merely transferred servicing. There is no clarity, transparency, or compliance regarding ownership, notices, or required disclosures under the FCRA and XXXX. 

XXXX Credit Reporting Issues Remain Unresolved XXXX claims that they corrected the account to report as transferred to XXXX for servicing. 
This is still inaccurate. My credit report shows : the loan as sold, inconsistent recorded payment history, including all on-time payments and no clear reporting of the new lender/owner. 
This means the credit reporting is still not accurate and does not match either the companys statement or the reality of communications from XXXX or XXXX. These errors are harming my credit and have been raised multiple times with both XXXX and WPM without resolution. 

XXXX. XXXX XXXX and Prior Vehicle Issues Not Addressed The response states the dealership permanently closed, but fails to address my prior documented issues including : XXXX failing to honor its warranties, the vehicle being returned to me with new mechanical issues not disclosed after repairs, weeks-long delays for simple warranty work, and the vehicles value becoming significantly lower than the amount financed because of these unresolved issues. 
charging over {$17000.00} for a vehicle that, even in mint condition at the time of purchase, was worth under $ XXXX with an additional 17.99 % 18 % interest rateis unmistakably predatory. In addition, the practice of keeping customers in the dealership for hours while the documents are read aloud to them, rather than allowing buyers to review the paperwork themselves, further demonstrates predatory sales tactics. 
These matters contributed directly to the dispute over the predatory nature of the loan and the payment disputes that followed. 

XXXX. Request for Release of Financial Obligation The company states they can not adhere to my request to be released from the obligation. 
However, my request is based on : inaccurate reporting, lack of clarity about loan ownership, contradictory instructions from XXXX and WPM, failure to provide required notices, and the companys own inability to identify who legally owns the loan. 

It is unreasonable to expect me to meet obligations when no company involved will even confirm who those obligations are legally owed to. The terms servicer and lender are not interchangeable in the lending industry, yet to date I have received no notice that my loan was placed into a trust, nor any proper notice of a transfer of ownership - just the power of attorney given to XXXX over the trust. 

XXXX. Summary of Ongoing Issues Despite the companys response, the following remain unresolved : Who legally owns/holds the loan Why XXXX refuses XXXX communicate yet claims to still own the contract Why XXXX claims to only service when the credit report says sold Lack of proof of required legal notices Inaccurate credit reporting Incorrect and misleading payment history Prior vehicle issues impacting the legitimacy of the contract Please see prior complaints regarding this ongoing issue filed with the CFPB with XXXX XXXX and XXXX.

Company response to consumer: Closed with explanation