Consumer complaint received 2026-04-20 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Confusing or misleading advertising or marketing
Company: CAPITAL ONE FINANCIAL CORPORATION
State: NY

Complaint narrative:
Dear Consumer Financial Protection Bureau, I am submitting a complaint regarding deceptive and potentially unlawful financing practices related to a vehicle purchase arranged by a used car dealership, XXXX, located at XXXX XXXX XXXX XXXX, XXXX XXXX XXXX NY XXXX XXXX On XX/XX/XXXX, I purchased a XXXX XXXX XXXX XXXX with XXXX miles for {$16000.00} with my mother, XXXX XXXX, serving as co-signer. During the sales process, the dealership arranged financing and presented specific monthly payment terms that were significantly different from the terms that ultimately appeared in the finalized loan agreement. During negotiations, I was quoted financing terms of {$300.00} per month for 60 months, totaling {$18000.00}. However, the finalized financing terms became {$450.00} per month for 48 months, totaling {$21000.00}. This resulted in an increase of {$3600.00} beyond what was represented to me during the sales process. Compounding this issue, my co-signer and I electronically signed the purchase and financing documents through XXXX XXXX, but the dealership later revoked our access to the signed contract documents. Despite multiple requests, we have not been provided copies of the agreement we signed. This has made it extremely difficult to verify the terms of the financing arrangement. Shortly after purchasing the vehicle, serious mechanical problems emerged, including stalling, extremely poor fuel economy, a burning smell, and sluggish acceleration. The vehicles transmission ultimately failed, and although I purchased a {$1900.00} extended warranty, my claim was denied because the issue was classified as a pre-existing condition. I have now been without the vehicle for over nine months while still being required to make loan payments on a vehicle that is currently inoperable and in the dealerships possession. On XX/XX/XXXX, after months of attempting to resolve the issue, the general manager, XXXX, from the dealership finally contacted me to apologize for the negligence '' of his business. This phone call was the result of a complaint that I had originally filed with this office ( Office of the New York State Attorney General Consumer Frauds and Protection Bureau ). During this callwhich I recordedXXXX asked me what they could do to make the situation right. Upon which I asked that the contract be cancelled and my money be returned. XXXX stated that he would call me back to discuss this further, however, he never followed through and has not contacted me again. These circumstances raise serious concerns about potential misrepresentation of financing terms, failure to provide consumers with access to signed loan agreements, and practices that may leave consumers trapped in loan contracts for vehicles that may have undisclosed defects. I respectfully request that the Consumer Financial Protection Bureau review this matter and determine whether the financing practices involved in this transaction comply with federal consumer financial protection laws. I am particularly concerned that other consumers may also be entering financing agreements through this dealership without full transparency or accurate disclosure of loan terms. I am also providing documentation, audio/video recordings, original advertisements, warranty communications, financing details, and correspondences supporting these claims. Thank you for your time and attention to this matter. Sincerely, XXXX XXXX XXXX

Company response to consumer: Closed with explanation