Consumer complaint received 2026-02-03 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: Bridgecrest Acceptance Corporation
State: AL

Complaint narrative:
I financed a XXXX XXXXXXXX XXXX from XXXX on XX/XX/XXXX. I agreed to purchase the vehicle {$30000.00} including fees and tax before finance charges. The interest rate was 22.163 % with a bi-weekly payment of {$350.00}, understanding I was agreeing to a simple interest loan, where interest would accrue daily. Included in the paperwork I went over with the sales team was an offer for a 60 Day Contract Rate Buy Down that would allow me the option to pay a larger down payment within 60 days that would reduce the interest rate by 2 % per {$1000.00} or .05 % per {$250.00} with the first payment due XX/XX/XXXX and every XXXX weeks thereafter. If I was able to make the down payment within the time frame I understood the interest rate would not be retroactive but would adjust the contract rate and reduce the bi-weekly amount for all future payments thereafter. XXXX XX/XX/XXXX at XXXX am I called to confirm the exact deadline to ensure I met the 60 day window and also to confirm the time constraints for the payment to post the same day as well as the method of payment required. I was told to call first to provide notification that the payment was for the buy down and the amount and that I could pay over the phone or on the app via debit card or ACH by XX/XX/XXXX XXXX PST. This would be XXXX my time central. 
I took snippets of my account via the app prior to calling on yesterday for my records to be able to review changes, XX/XX/XXXX at XXXX XXXX and recorded the specific details provided to ensure there would be documentation that this was a payment for the 60 day contract buy down because of the concerning reviews online regarding principal payments being misppropriated by other consumers. The representative confirmed the interest rate adjustment expected provided by XXXX and stated he put in a ticket to process the payment and that I needed to call back in XXXX minutes. I opted not to pay on the app but instead used the checking account on file and agreed to the XXXX fee for the payment of XXXX after confirming that the ACH payment would still be considered as same day within the required time limits. The second call was made and recorded at XXXX XXXX. I was told the payment was processed and it could take XXXX days to post to the account, which seemed odd since the app payments post immediately and the account updates within XXXX as stated on their payment site and that I needed to keep the auto pay upcoming for XX/XX/XXXX in the amount of XXXX to ensure my account remained in good standing while the buy down payment processed. The confirmation number provided was XXXX. 

XX/XX/XXXX, I checked my bank account app around XXXX XXXX and saw the payment was debited from my checking account and viewed the Bridgecrest app shortly after when I discovered the {$3200.00} payment was listed as a standard payment the same as my other biweekly auto payments. I decided to research further and realized of the principal payment was reduced by {$180.00} in interest and the remaining {$3000.00} of the payment was posted to the principal reducing the balance to {$27000.00} from the XXXX shown XX/XX/XXXX. Then I noticed the account showed {$0.00} XXXX XX/XX/XXXX with the next payment due XX/XX/XXXX in the amount of {$350.00} reducing the previous bi weekly amount by {$5.00}. There is no interest rate listed or adjustment shown other than the payment schedule and a reduced principal. I was able to calculate the figures because the amounts just were not right. I am being charged the original interest of 22.163 % on the reduced balance of XXXX. The interest was not reduced to 16.163 %. 

After a XXXX way call with my wife and the resolution department after multiple attempts to get her added as an authorized person to discuss the account because I'm at work in an area with a horrible signal we were able to get on a call with a supervisor who identified as XXXX who confirmed that there were adjustments to the account but that the XXXX had not been adjusted yet and that would take XXXX to 10 days while daily interest builds back which is clearly a stall tactic to ensure the upcoming payment on the XXXX processes with the 22.163 % interest rate even though the buy down occurred on XX/XX/XXXX. Just to confirm my wife asked XXXX what the interest rate would be for that payment and would the daily interest still be the same until the payment was processed and the answer was yes. Also, that the rate would not retro back to the buy down payment date. 

In summary we have determined Bridgecrest is a predatory lender using deceptive tactics on people that they don't expect to have any financial literacy. A rough spot does not mean uneducated or without a plan. Based on all the information provided between the calls and the account posting details the payment specifically instructed to be used for the 60 day contract buy down to reduce the interest and future payments was instead posted as a standard principal reduction payment to pay the account ahead ( prepayment ) rather than a rate-reduction " buy down '' that would have immediately altered the payment structure to the agreed terms prior to the payment. The new bi weekly payment amount of XXXX is a flat out lie and a way XXXX XXXX the balance back up with interest. {$27000.00} @ the original interest rate of 22.163 % is exactly XXXX. The new bi weekly XXXX 16.163 % is XXXX with a total of XXXX payments remaining. While the site list no payment due until XXXX with daily interest of XXXX that would add over {$1900.00} back while someone who doesn't know better would think they are ahead. 

Bridgecrest is using decisive tactics to misallocate payments, has failed to execute the contract terms, all while refusing to perform a manual override, verify new interest rate modifications, provide any documentation of intent to rectify the situation by retro interest back to XX/XX/XXXX at 16.163 % but instead making every attempt to stall and delay to accrue additional interest at the higher rate. 

After researching online, we now know this is a frequent tactic for this company with more than just a few modest complaints to say the least. They frequently delay resolution giving XXXX XXXX daytime frames while customers a have to call daily or file complaints to resolve the purposeful intent to continuously misallocate customer payments in the hope they can get away with it. Even though the account show no balance is due until XX/XX/XXXX we were told that if we didn't make the XXXX payment on XX/XX/XXXX @ the 22.163 % interest we would be late on payments and would not qualify for the 60 day buy down to be processed. So how is it due but now? How does your system update everything except the interest rate? Seems very much intentional.

Company response to consumer: Closed with explanation