Consumer complaint received 2022-12-20 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Problem with the interest rate
Company: WELLS FARGO & COMPANY
State: PA

Complaint narrative:
From XX/XX/XXXX to XX/XX/XXXX the daily interest rate 's on this auto loan has changed from month to month. XX/XX/XXXX $ XXXX XX/XX/XXXX $ XXXX XX/XX/XXXX {$7.00} - XX/XX/XXXX {$7.00} - XX/XX/XXXX {$7.00} XXXX {$7.00} XXXX {$7.00} XXXX {$7.00} XX/XX/XXXX {$6.00} XX/XX/XXXX {$6.00} - XX/XX/XXXX {$6.00} - XX/XX/XXXX {$6.00} - XX/XX/XXXX {$6.00} - XX/XX/XXXX {$6.00} XXXX {$6.00} - XX/XX/XXXX {$6.00} - XX/XX/XXXX {$6.00} - XX/XX/XXXX {$6.00} - XX/XX/XXXX {$6.00} - XX/XX/XXXX - {$6.00} XX/XX/XXXX {$5.00} - XX/XX/XXXX {$5.00} - XX/XX/XXXX {$5.00} - XX/XX/XXXX {$5.00} - XX/XX/XXXX {$5.00} - XX/XX/XXXX {$5.00} - XX/XX/XXXX {$5.00} - XX/XX/XXXX {$5.00} - XX/XX/XXXX {$5.00} - XX/XX/XXXX {$5.00} - XX/XX/XXXX {$4.00} - XX/XX/XXXX {$4.00} - XX/XX/XXXX {$4.00} - XX/XX/XXXX {$4.00} - XX/XX/XXXX {$4.00} - XX/XX/XXXX {$4.00} - XX/XX/XXXX {$4.00} - XX/XX/XXXX {$4.00} - XX/XX/XXXX {$4.00} - XX/XX/XXXX {$4.00} - XX/XX/XXXX {$3.00} - XX/XX/XXXX {$3.00} - XX/XX/XXXX {$3.00} - On XX/XX/XXXX i paid {$18000.00} which paid this auto loan completly off. Before i paid this auto loan off i called Wells fargo auto deptment on XX/XX/XXXX at XXXX XXXX and spoke to a woman by the name of XXXX  first and when her explanation regarding why i had to pay 32 months of interest on a auto loan that i was paying off 32 months early did not make any sense to me i requested to speak to some one in a supervisory postion and my call was transfered to a woman by the name of XXXX who also was not able to make any sense as to why i was being charged 32 months of interest rates when i'm paying off the auto loan 32 months early, however XXXX was able to give me a pay off amount for this auto loan of {$18000.00} and i repiled that can't be correct not with me paying the loan off 32 months early because this auto loan has a maturity date of XX/XX/XXXX so i shouldn't have to pay 32 months in interest if i'm paying this loan off in XX/XX/XXXX as i planed on doing. I was told it was all totaled out and that if i wanted to pay this auto loan off the pay off amount would be {$18000.00}. I kept asking the wells fargo auto representative how could this be the correct pay off amount if i'm paying the loan off 32 months early and she kept saying to me the pay off amount for your auto loan is {$18000.00}. So on XXXX XXXX i went to the Wells Fargo bank located at XXXX XXXX XXXX XXXX XXXX XXXX XXXX where associate personal banker XXXX XXXX XXXX finalized and closed out my auto loan in the amount of {$18000.00} which was a different pay off amount from what i was told on XX/XX/XXXX which was {$18000.00}. I went back and fourth wit associate personal banker XXXX XXXX regarding the {$71.00} difference between the two pay off amounts that i was given he insisted that the pay off amount that he had given me in the amount of {$18000.00} was the correct pay off amount. So i paid the entire amount of {$18000.00} while still in a state of confusion regarding why i was being made to pay 32 months of daily interest rates when i'm paying the loan off 32 months early. The maturity date on this auto loan is XXXX XXXX. No one at Wells Fargo bank could give me a answer to that question that made any kind of sense to me.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation