Consumer complaint received 2026-06-03 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Title loan
Issue: Charged fees or interest you didn't expect — 
Company: WHEELS FINANCIAL GROUP, LLC.
State: CA

Complaint narrative:
Borrower : XXXX Loan Number : XXXX XXXX : XXXX XXXX XXXX ( XXXX )/ LoanMart also doing business as : 800 LoanMart ; 1800LoanMart ; Wheels Financial Group , XXXX ; XXXX. ; LoanMart/XXXX Loan Date : XX/XX/XXXX Location : CA Filed By : Advocate assisting borrower due to language, technology, and comprehension barriers -- - Complaint Summary I am filing this complaint on behalf of XXXX XXXX, who was misled, rushed, and not properly informed of the terms of his autosecured installment loan. He signed the agreement online using a phone, was not shown the APR, not shown the payment schedule, not shown the total cost, and was not provided copies of the disclosures or contract at the time of signing. He was verbally told the interest rate would be 35 %, but the actual interest charged as proven by the lenders own payment history is consistent with tripledigit APR. This constitutes deceptive and predatory lending, especially given that the loan is secured by his vehicle and required him to surrender the original title within 24 hours, a coercive practice. The structure of this loan, the lack of disclosures, the misrepresentation of the interest rate, and the use of a Utah bank to bypass Californias interestrate caps raise serious concerns of unfair, deceptive, and abusive acts and practices. -- - 1. Misrepresentation of Interest Rate Principal Balance : {$10000.00} - Accrued Interest : {$710.00} - PerDiem ( daily interest ) : {$26.00} - Payoff Amount ( due by XX/XX/XXXX ) : {$11000.00} - Interest Rate : 93.99 % APR Predatory Loan practice L was verbally told the loan would be 35 % interest. This was false. The payment history shows : - XX/XX/XXXX : - Accrued interest : {$920.00} - Principal applied : {$6.00} - Payment : {$930.00} - XX/XX/XXXX : - Accrued interest : {$1200.00} - Principal applied : {$0.00} - Payment : {$950.00} These numbers are not compatible with a 35 % APR. They indicate a tripledigit APR, which was never disclosed. This is deceptive inducement. -- - 2. Failure to Provide Required Disclosures Before XXXX Because the loan was signed online, federal law requires : - Clear display of APR - Clear display of payment schedule - Clear display of total cost - Clear display of security interest - Ability to download or print - Affirmative consent to electronic disclosures L states : > He didnt see them he just signed he was not given a copy. This violates : - Truth in Lending Act ( TILA ) - ESign Act - CFPB Small Dollar Lending Rule - California consumer protection laws -- - 3. Phone Signing Creates Dark Pattern Conditions He signed on a phone, which makes disclosures : - Hard to read- Easy to hide- Easy to skip- Easy to rush through This is a known tactic used by predatory lenders to obscure terms. -- - 4. Coercive TitleSurrender Requirement The contract states : > XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX This is coercive and designed to trap borrowers by making repossession easier. -- - 5. XXXX Scheme to Evade California Law California banned highinterest autotitle loans above 36 % APR in XXXX. LoanMart now uses XXXX XXXX XXXX ( Utah ) to issue loans in California at rates that would otherwise be illegal. This is a known rentabank model regulators are actively investigating. -- - 6. Harm to Borrower Because of the lenders actions : - XXXX did not understand the true cost of the loan - He was misled about the interest rate - He was not given disclosures - He was not given copies - He was pressured to surrender his title - His balance barely decreases despite large payments- He is trapped in a cycle of interest This loan is unfair, deceptive, abusive, and predatory. -- - 7. Requested Action I respectfully request : 1. A full investigation into XXXX and XXXX XXXX XXXX lending practices. 2. A review of the APR, disclosures, and signing process for this loan. 3. Correction or rescission of the loan due to misrepresentation and failure to disclose. 4. Protection of the borrowers vehicle title during the investigation. 5. Review of the rentabank structure used to bypass California Law

Company response to consumer: Closed with explanation