Consumer complaint received 2025-07-03 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Confusing or misleading advertising or marketing
Company: Regional Management Corporation
State: MO

Complaint narrative:
I have a Auto loan account with Regional Finance, XXXXXXXX XXXX XXXXXXXX. 
On the XXXX of XXXX, I had a vehicle break down. Mechanics from the auto shop recommended a full engine change, A repair cost that would exceed the vehicle 's worth. 

On the XXXX of XXXX, I called Regional Finance to find out if i had any options that help me. Loan still had a balance of {$9000.00} left on it. The individual stated a " Car Swap '' was an option that we could do. She told me to find a vehicle for sale that I was interested in. Call them back with the details like the cost, make and model of the new Vehicle and they would give me a yes or no on whether they can cover it or not. 

The Next Day, XXXX of XXXX, I found a vehicle posted online from a Used Car Dealership with a sale price of {$11000.00}. I called Regional Finance and gave the individual the information she requested. After a few minutes of being on hold, she returned and gave the ok to purchase the vehicle and get it registered under my name. Once I got that completed, i was to go to the branch office in person to complete the " Car Swap ''. 

On the XXXX, I was able to raise the funds needed to put a down payment on the vehicle to secure the loan, and registration fees/sale taxes, totaling {$2100.00}. On the XXXX, I was able to register the new vehicle and pay for the Sales tax as well. 

XXXX of XXXX, I went to regional Finance to complete the Car Swap, and it was right here i was told they could not help me. I explained to them the only reason I purchased the new vehicle was because i was told by them I was good to go to make the purchase. I had asked what happened, and i got some excuse that the vehicle wasn't something they could use financially due to milage and age of the car. I had then asked if there anything they can do for me, as in cut a check to help me out since the funds I used to purchase the vehicle depleted my saving and emergency cash. I explained to them that had I known this was going to be a no go, i would not have purchased this vehicle. 

The employee i spoke to kept apologizing to me an said sorry for the miscommunication. There was no miscommunication on my end. And his " apologies '' are not gon na help me pay my bills and rent this month. Then the employee had the gall to ask if can still make a payment to the loan. I was outraged at the situation. I came to them for help and instead of help, i got put in a worse off position financially. Now because of them I have two Car Payments to pay for, one of which is a disable vehicle that still have to retrieve from the auto shop. Original plan was to sell that vehicle for scrap, but since the car swap isn't happening, I'm not getting that title for it to legally sell. I will now have to pay a tow truck to retrieve bring back to my residence, a 50 mile distance. The money i was to use to see a sick family member the end of this month will be reallocated try to catch up with unpaid bills for this month because of this situation. Needless to say I am Livid. 

I tried calling them today XXXX of XXXX, to speak to the original person i had spoken to about the situation and get a better clarification as to why i was told i was ok to purchase the vehicle in the first place and maybe speak to the branch manager. However, they did not answer my call. I left a message and had no response. I filled out a complaint form through there website. 

Again I have been a customer to them since XX/XX/year>, never missed a payment, always on time, and instead of working with me to give a little help, only get denied. I feel i need more than Just an apology. Because of this situation, I had to call of a vacation trip we had planned for for months, I will not have funds to see my family member before they pass. 

XXXX XXXX

Company response to consumer: Closed with explanation