Consumer complaint received 2025-08-18 00:00:00
Product: Vehicle loan or lease — Lease
Issue: Managing the loan or lease — Loan sold or transferred to another company
Company: COLUMBIA BANKING SYSTEM, INC.
State: MN

Complaint narrative:
I reached out to XXXX XXXX XXXX to help me find a XXXX XXXXXXXX XXXX XXXXXXXX for my company on or around XXXX/XXXX  Because I had a loan with XXXX in the past that worked well, XXXX was all too happy to assist me in getting the equipment that I needed. I specifically asked XXXX NOT to send my file to a 3rd party company, and if that were a requirement, I would have to decline working with him. He assured me that I would be making payments DIRECTLY to XXXX. After XXXX found a company XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, NV, he reached out to me with documents to sign and review for approval. I sent in all documents, ie, bank records, driver 's license, and other documents he needed before making approval. The very first document I attached below is the document I THOUGHT I was approved for, and the payment terms listed on the document were my understanding. The total price was {$48000.00}, with a payment plan broken down as follows : 48 Month Term {$2800.00} due upfront and {$1800.00} due monthly before taxes. That was the initial and first document I had to sign to get my XXXX, and I was under the impression that it was the monthly price I would have to pay. Fast forward 2 months to XX/XX/year>, I reached out to my Credit Union to Refinance and take over the loan so my payments could be lowered. It was then that I realized that I was told I owed $ XXXX to buy out the loan from XXXX XXXX. I was floored and sent a message to XXXX right away regarding what I found out. I did not know that another company financed the lease because my initial instructions were that I did not want to work with another company, and XXXX assured me I would not. 

I fly down to Nevada upon approval. I then go to XXXX XXXX to get trained on the XXXX XXXX  and to pick up my other supplies according to the agreement. Finally, I drive the van from NV to MN. The XXXX needed to be jumped once while on our trip, but we made it safely to MN. The following weekend, after we arrived in MN, I had my first carpet cleaning job with the new XXXX and the machine, and the XXXX stopped working on me in the middle of cleaning. I was out of money and time to get it fixed. And since then I have needed repairs 5 times with the truck mount for and the XXXX, one reason or another, the fuel pump died 2 times in less than a month, when I reached out to XXXX XXXX they told me it is not covered under warranty. I was angry, a $ XXXX purchase, and I have no warranty. I was told the equipment was new, but it was not a new unit at $ XXXX. I would spend the next few months seeking representation and trying to figure out how to get out of the lease and bad equipment, but it is a hard situation because XXXX XXXX XXXX started the loan, XXXX XXXX XXXX NV sold the equipment and got paid and XXXX XXXX was sold my lease and they added a wopping XXXX of interest on a XXXX vehicle that is used and I have been stuck trying to make a XXXX a month payment on equipment I have to jump just to use.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation