Consumer complaint received 2024-12-27 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Problems at the end of the loan or lease — Unable to receive car title or other problem after the loan is paid off
Company: Bridgecrest Acceptance Corporation
State: GA

Complaint narrative:
1. Misrepresentation of Deferments Bridgecrest claims that I was granted four deferments consisting of 19 bi-weekly payment extensions between XX/XX/XXXX and XX/XX/XXXX. This is factually incorrect. I only received two deferments : First deferment : XX/XX/XXXX Second deferment : XX/XX/XXXX These deferments were documented and agreed upon. The assertion that I received four deferments is a fabrication and lacks supporting evidence. If Bridgecrest alleges otherwise, I request that they provide copies of all deferment agreements, signed by me, to substantiate this claim. 
2. Lack of Transparency in Payment Allocation Bridgecrest states that payments are applied first to fees and interest, with the remainder allocated to the principal balance. However, their calculation of my remaining balance lacks clarity and transparency. The transaction history they provided does not explain how interest and fees were calculated or applied, nor does it reconcile the remaining balance of {$3900.00} with the payments I have made. 

This lack of transparency suggests that either errors were made in their accounting, or they are intentionally obscuring the allocation of my payments. I request a detailed transaction history with itemized breakdowns for each payment, including : The amount applied to interest, fees, and principal. 
The running total of accrued interest. 
Clear documentation of how the remaining balance was calculated. 

3. Incorrect Extension of Maturity Date The maturity date of my loan was extended due to the two deferments I agreed to. However, Bridgecrests claim that the maturity date was extended to XX/XX/XXXX, based on four deferments is false. The incorrect extension appears to be based on their fabricated claim of additional deferments, which is both misleading and harmful to my financial standing. 
4. Failure to Release the Vehicle Title Bridgecrests refusal to release my vehicle title despite my adherence to the loan terms and payments is unjustifiable. Their continued accrual of interest and fees, combined with their misrepresentation of deferments, is being used to prolong the loan unnecessarily and deny me rightful ownership of my vehicle. 
5. Poor Communication and Failure to Resolve Concerns Bridgecrest claims they attempted to contact me regarding my concerns but were unsuccessful. This is untrue. I have consistently reached out to their customer service department to resolve these issues. Their failure to provide clear answers or documentation has left me with unresolved concerns and mounting frustration. 
Request for Resolution To resolve this matter fairly and transparently, I request the following : Documentation of all deferment agreements signed by me. 
A clear, itemized breakdown of my payment history and remaining balance. 
XXXXmmediate correction of the falsely extended maturity date. 
Release of my vehicle title once the corrected balance is satisfied. 

Conclusion Bridgecrests response fails to address the inaccuracies in my account history and the fabricated deferments. Their refusal to provide transparency and their unjust withholding of my title suggest unfair and potentially unlawful practices. I respectfully request the CFPB to hold Bridgecrest accountable for these misrepresentations and ensure that this matter is resolved promptly and fairly.

Company response to consumer: Closed with explanation