Consumer complaint received 2025-05-27 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Problem with the interest rate
Company: Bridgecrest Acceptance Corporation
State: PA

Complaint narrative:
XXXX XXXX XXXX Via Email : XXXX XXXX XXXX XXXX XXXX XXXX, PA XXXX Account Number : XXXX Vehicle : XXXX XXXXXXXX XXXX XXXX  XXXX XX/XX/XXXX To : Bridgecrest / XXXX Customer Service Department XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, AZ XXXX Subject : Response to Your Letter Dated XX/XX/XXXX Deceptive and Illegal Loan Terms To Whom It May Concern : This letter is in direct response to the summary of my account you provided, dated XX/XX/XXXX, regarding the auto loan for the XXXX XXXX XXXX XXXXXXXX XXXX, under account number XXXX. 

Let me be absolutely clear : at no point before or during the origination of this loan was I ever made aware that the interest rate on this loan would be an exorbitant 16 %. I have thoroughly reviewed the documents and statements provided, and I affirm that there was never any transparent disclosure or direct communication from Bridgecrest or XXXX that revealed this rate to me before finalizing the loan. 

Had I been informed that the interest rate was 16 %, I would have never agreed to this financing. I do not recall any phone calls, emails, or signed paperwork where the interest rate was clearly and explicitly disclosed prior to my consent. This constitutes deceptive lending and is in direct violation of federal consumer law. 

Until recently, I was making payments in good faith {$390.00} per monthunder the assumption that these payments were significantly reducing the {$17000.00} original principal. However, I was shocked to discover during a recent refinance with XXXX XXXX that the majority of my payments had gone toward interest, and the principal had barely decreased until the loan was finally paid off. Your reporting even states my account was 30+ days late multiple times, which further damages my credit for a loan I was misled into. 

This is not just unethicalit is illegal under multiple consumer protection laws : Truth in Lending Act ( TILA ) 15 U.S. Code 1638 You were legally required to clearly disclose : The Annual Percentage Rate ( APR ) The total finance charges The payment breakdown You failed to disclose these key terms in a clear and conspicuous manner, depriving me of informed consent.

Fair Credit Billing Act ( FCBA ) 15 U.S. Code 1666 You violated my rights by : Applying unfair finance charges without clear explanation Failing to correct or properly respond to billing disputes in a timely and fair manner Dodd-Frank Act Section 1031 Prohibition on Unfair, Deceptive, or Abusive Acts or Practices ( UDAAP ) You committed an abusive practice by : Burying or omitting the 16 % interest rate Creating a loan structure that obscured how payments were allocated DEMAND FOR IMMEDIATE INVESTIGATION & CORRECTION I am formally demanding that Bridgecrest : 1. Immediately open a full investigation into the origination and disclosure of my loan terms.

2. Provide verifiable documentation ( including signed acknowledgments or recorded conversations ) showing that I was informed of, and agreed to, a 16 % interest rate.

3. Correct the loan terms retroactively by recalculating the payments and interest based on a fair and reasonable rate.

4. Remove all negative credit reporting resulting from this deceptive loan.

NOTICE OF POTENTIAL LEGAL ACTION If Bridgecrest does not comply with the above requests within 15 calendar days, I will : File a formal escalation with the CFPB and the Federal Trade Commission ( FTC ) ; Notify the Pennsylvania Attorney General and report deceptive and abusive lending ; Retain legal counsel to initiate civil litigation under TILA, FCBA, and XXXX , seeking damages, legal fees, and full injunctive relief.

I take this matter very seriously and expect your full cooperation. This is a clear case of deceptive lending, and I will pursue all available legal avenues if Bridgecrest fails to resolve this matter promptly and fairly. 

Sincerely, XXXX XXXX XXXX XXXX ( XXXX ) XXXX

Company response to consumer: Closed with explanation