Consumer complaint received 2026-04-28 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Problem with additional add-on products or services purchased with the loan
Company: Bridgecrest Acceptance Corporation
State: FL

Complaint narrative:
I am submitting this complaint regarding an auto financing agreement that I believe involved unfair, deceptive, and potentially predatory practices. I entered into an agreement to purchase a XXXX XXXX XXXX under the understanding that I was being financed through an independent financial institution. It later became apparent that the dealership and the financing entity ( Bridgecrest ) were either the same entity or closely affiliated in a way that was not clearly disclosed to me at the time of sale. The total cost of the vehicle escalated to approximately {$40000.00}, which is significantly disproportionate to the market value of a XXXX XXXX XXXX. The structure of the loanincluding interest rates, fees, and other chargesresulted in a balance that remained excessively high despite substantial payments. At the time of approval, my income consisted of XXXX XXXX XXXX, and my co-signer had limited income from a low-paying job. Given these circumstances, I have serious concerns regarding how this loan was approved and whether proper underwriting standards or ability-to-repay considerations were applied. Additionally, at the time of purchase, I was a diagnosed XXXX and undergoing XXXX for XXXX XXXX. I was not in a stable condition to fully evaluate or challenge the terms of the agreement. Despite this, I proceeded based on representations made to me. I was told, in front of witnesses, that the loan could be refinanced after making a series of payments. However, when I later attempted to refinance, I was told that refinancing was not an option. Upon further review of the agreement, I discovered that the structure of the loan made refinancing effectively impossible from the beginning. I also became aware that the vehicle and loan structure were flipped in such a way that the balance remained disproportionately high relative to the value of the vehicle, preventing any realistic opportunity to refinance or exit the agreement. Due to the structure of the agreement, I was unable to refinance the loan at any point, effectively trapping me in the financing arrangement. Despite making substantial payments, the financial burden became unsustainable, and I ultimately made the decision to voluntarily surrender the vehicle. Following the surrender, I received correspondence stating that the company had taken possession of the collateral because I had broken promises in the agreement. I dispute the characterization implied by this language, given the circumstances surrounding the origination and structure of the loan. I am requesting a full and complete accounting and investigation of this matter, including but not limited to the following : 1. A complete payment history from the inception of the loan to present 2. A full amortization schedule showing how payments were applied to principal, interest, and fees 3. The original XXXX XXXX XXXX XXXX ( XXXX ) and all associated disclosures provided at signing 4. All Truth in Lending Act ( TILA ) disclosures, including APR calculations and finance charge breakdowns 5. A detailed itemization of all fees, add-ons, service contracts, warranties, XXXX coverage, and ancillary products included in the financing 6. Documentation of any markups, dealer participation, or yield spread premiums applied to the financing terms 7. Clarification and documentation of the relationship between the dealership and Bridgecrest, including whether the financing was truly independent or internally arranged 8. Records of any reassignment, servicing transfer, or ownership of the loan 9. A detailed explanation of how the total financed amount reached approximately {$40000.00} 10. Documentation of any communications, representations, or approvals provided at the time of sale regarding financing terms 11. All underwriting and approval documentation, including income verification, debt-to-income calculations, credit evaluation, and criteria used to approve this loan 12. Documentation showing how my XXXX XXXX income and my co-signers income were evaluated and deemed sufficient for approval 13. Records of any internal notes, risk assessments, or exceptions made during the approval process 14. Records related to my inability to refinance, including any internal notes or restrictions tied to the loan structure 15. Documentation of the vehicles disposition following surrender, including sale price, date of sale, and how proceeds were applied to the account 16. A full breakdown of any remaining balance, including repossession, storage, auction, or administrative fees 17. Copies of all notices provided to me regarding default, right to cure, and post-surrender obligations I believe I may not have been fully informed about : * The nature of the financing arrangement * The relationship between the dealership and the lender * The long-term financial impact of the agreement * The realistic ability to refinance or exit the loan I also have serious concerns that the loan may have been approved without proper consideration of my financial capacity to repay, particularly given my reliance on XXXX XXXX XXXXncome , my medical condition at the time, and the limited income of my co-signer. I am requesting a formal review of this account to determine whether the disclosures, underwriting practices, and overall structure of this loan complied with applicable consumer protection laws. I am seeking full transparency, proper accounting, and a fair resolution of this matter.

Company response to consumer: Closed with explanation