Consumer complaint received 2025-03-10 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Problem with additional products or services purchased with the loan
Company: OneMain Finance Corporation
State: GA

Complaint narrative:
Subject : Response to Foursight Capitals XX/XX/year>, Letter Regarding Complaint Dear Sir or Madam, I am writing in response to your letter dated XX/XX/year>, regarding my complaint filed with the Consumer Financial Protection Bureau ( CFPB ). While I appreciate Foursight Capitals response, there are still several points of contention that I would like to address and seek clarification on. I believe there are remaining issues that require further resolution. 

1. APR Discrepancy You acknowledged the discrepancy between the 12.99 % APR listed in the original loan and the revised APR of 15.20 %. However, the explanation provided regarding the income verification and its impact on the APR is insufficient. Specifically, I do not understand how the initial approval for a loan at 12.99 % was given based on an income of {$24000.00} per month, only for it to later be adjusted to {$3900.00} per month, resulting in the increase in APR to 15.20 %. 

Given that the original loan was presented with a 12.99 % APR and this was not based on accurate income information, I believe I am entitled to the terms that were initially presented to me, or a full explanation of the basis for the recalculation of the loan terms. 

I kindly request a more detailed breakdown of how my income verification was handled, why the discrepancy occurred, and an explanation as to why the initial 12.99 % APR could not have been honored. 

2. Buyer 's Guide Disclosure Foursight claims that the Buyer 's Guide was provided to me at the time of the vehicle purchase and that I signed an acknowledgment of the terms. However, I do not recall receiving the Buyer 's Guide as required by the FTC Used Car Rule. 

I request that you provide a clear copy of the Buyers Guide that was allegedly presented to me and signed at the time of purchase. If this document was provided, I would appreciate clarification of how the terms outlined in the Buyers Guide were disclosed and whether it meets the legal requirements of the FTC Used Car Rule. 

3. Optional Products In your response, you claim that the GAP insurance, Warranty, and Key Protection Service Contract were disclosed as optional products and that I voluntarily agreed to purchase them. However, I believe these products were presented as mandatory during the purchase process, which led to their inclusion in the loan amount without my full understanding. 

While I appreciate your offer for a pro-rated refund of the GAP and Warranty products, I continue to assert that I was not fully informed of their optional nature. I request that Foursight Capital provide a detailed review of how these products were presented to me at the time of the sale and whether any undue pressure was applied to purchase them. 

Additionally, I would appreciate receiving a copy of the signed documents confirming my agreement to purchase these products, along with any documentation showing how these charges were added to the loan amount. 

4. Down Payment Discrepancy Your records indicate that I made a down payment of {$1000.00}, but I would like to assert that the actual down payment I made was {$1500.00}. This discrepancy should be addressed and corrected in your records. 

Please provide documentation or an explanation for why the down payment amount is listed as {$1000.00} on the contract when I have clear evidence that the correct down payment was {$1500.00}. 

5. Questionable Signature on Contract Furthermore, I have concerns regarding the authenticity of my signature on the contract. I do not recall signing the contract in its entirety, and I question whether my signature was properly obtained. I request that you provide a clearer copy of the contract and any supporting documentation that shows how and when the signature was obtained. 

6. Transfer of Loan from XXXXXXXX XXXX to Foursight Capital Finally, I would like clarification on why the initial loan was transferred from XXXXXXXX XXXX to Foursight Capital. I was under the impression that the loan was originally issued by XXXXXXXX XXXX, but I have since found that Foursight Capital purchased the loan. I request an explanation of the process and reasoning behind this transfer, and how it impacted the terms of my loan, including the changes to the APR. 

7. Request for Compensation Given the issues outlined above, including the APR discrepancy, down payment error, questionable signature, failure to provide proper disclosures, and the undue inclusion of optional products, I am requesting compensation for the financial harm and inconvenience this situation has caused me. This compensation may include, but is not limited to, a reduction in the loan balance, a refund of any unnecessary fees or charges, and any additional compensation typically granted in similar cases of this nature. 

I believe this request is reasonable, given the nature of the issues at hand and the impact they have had on my financial well-being. 

Conclusion and Request for Resolution Given the above concerns, I kindly request that Foursight Capital reconsider the terms of my loan, particularly regarding the APR discrepancy, provide clear documentation supporting the Buyer 's Guide disclosure, further clarify the process regarding the optional products, and correct the discrepancies related to my down payment, signature, and the transfer of the loan from XXXX XXXX to Foursight Capital. 

Additionally, I request compensation for the financial harm and inconvenience caused by these issues, in line with typical practices for similar cases. 

Please respond to my inquiries within 15 business days. I look forward to your prompt resolution of this matter. 

Sincerely, XXXX XXXX XXXX

Company response to consumer: Closed with explanation