Consumer complaint received 2024-11-02 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Loan sold or transferred to another company
Company: GREEN ROAD FINANCE INC.
State: CA

Complaint narrative:
I am writing to address several issues with my auto loan account, as there appear to be discrepancies and unanticipated charges in my contract. I request a full investigation into these matters and clarification on your processes as they relate to the Fair Credit Reporting Act ( FCRA ), Truth in Lending Act ( TILA ), and other federal and state regulations that protect consumer rights. 

XXXX. Early Payment Fee and Principal Reduction I request an explanation of any fees applied when I pay more than the required XXXX XXXX  monthly or attempt to reduce my loan balance early. I was informed during the transaction that such fees did not apply, which influenced my decision to agree to these loan terms. Additionally, the substantial {$7000.00} down payment should have contributed to a significant reduction in the principal, yet my balance does not reflect this. 

XXXX. GAP Insurance and Disclosure Requirements After being directed to XXXX XXXX to address GAP insurance coverage, I learned that the responsibility had been transferred to Green Road Finance, which caused delays and confusion. Following this, Green Road provided documents directing me to XXXX XXXX XXXX to redeem the GAP insurance, raising concerns about the continuity and transparency of this coverage. As noted under the California Automobile Sales Finance Act ( ASFA ), financing agreements must provide clear terms and disclosures, and the TILA requires complete disclosure of fees, total payments, and credit terms. 

XXXX. Electronic Tracking and Starter Interrupt Technology Disclosure According to California Civil Code 1936.05 and 2983.35, buyers must be informed if the vehicle is equipped with electronic tracking or starter interrupt technology. Additionally, explicit written consent is required. XXXX XXXX XXXX did not disclose this information. I request confirmation on whether these features are present, along with a copy of any applicable terms and conditions. 

XXXX Credit Reporting Discrepancies The loan originated at XXXX XXXX XXXX XXXX yet my credit report lists Green Road as the initial lender, followed by XXXX XXXXXXXX XXXX To comply with FCRA and avoid misrepresenting my credit history, this should be corrected to accurately reflect the sequence of lenders. Additionally, XXXX XXXX ran my credit without permission after selling the loan, which is both unauthorized and misleading. 

XXXX. Unauthorized Insurance Changes and Charges When obtaining insurance, I encountered delays due to your office selecting my deductible. During a brief period when insurance was pending approval, I was charged for an entire month of coverage. Moreover, I noticed variable insurance charges on my account, and I need clarification regarding these changes and an itemized breakdown of insurance charges. 

XXXX. Down Payment Discrepancy and Optional Service Charges My contract and receipts indicate a down payment discrepancy of {$400.00}, with the contract reflecting a {$6000.00} down payment and my receipts showing {$5600.00}. Additionally, optional items such as the XXXX XXXX XXXX XXXX {$690.00} ) and XXXX XXXX XXXX  ( {$1400.00} ) appear on the contract without my explicit consent, potentially violating Californias Consumers Legal Remedies Act ( CLRA ) and Unfair Competition Law ( UCL ). I request verification of these charges and refund of any unauthorized amounts. 

XXXX. Repossession Concerns and Vehicle Condition I recently discovered that the repossession company had a copy of my key, which I was unaware existed, as XXXX XXXX XXXX did not disclose the existence of a second key. This raises serious concerns regarding unauthorized duplication and my vehicles security. Additionally, the vehicle has required frequent repairs since purchase, and despite substantial repair costs, it continues to have issues. The repossession company has also caused further damage during previous repossession attempts, worsening its condition. 

XXXX. Section 609 Request Under FCRA I formally request an investigation into my credit report under Section 609 of the FCRA. This investigation should address and correct any inaccuracies, particularly the misrepresentation of lender sequencing, which affects my credit history and could impact my creditworthiness.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation