Consumer complaint received 2025-10-30 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Repossession — Company explaining amount owed
Company: Lendbuzz Inc.
State: NY

Complaint narrative:
Certified Mail Return Receipt Requested To : [ victory XXXX, XXXX XXXX XXXX, XXXX, NY XXXX ] [ XXXX, XXXX XXXX XXXX XXXX XXXX, XXXX, MA XXXX ] Re : Rescission of Loan Contract Demand for Vehicle Return Vehicle : [ XXXX XXXX XXXX XXXX XXXX ], XXXX : [ XXXX ] Loan / Contract No. : [ XXXX ] To whom it may concern : This letter serves as my * * formal rescission of the above-referenced vehicle loan contract * *, along with all related addendums and service agreements, under authority granted by : - * * 15 U.S.C. 1635 * * Truth in Lending Act ( TILA ) Right of Rescission- * * 12 C.F.R. 1026.15 ( d ) ( 3 ) * * Regulation Z Right to Retain Property - * * UCC 3-106 ( d ) * * Non-negotiability and Defenses to Instrument Enforcement -- - # # # 1. Exercise of Rescission Right I exercised my right to rescind this loan agreement due to material misstatements and non-disclosures made during the finance process, including but not limited to [ insert examples : misquoted APR, undisclosed GAP fees, false pre-approval, spot delivery abuse, etc. ].

Under * * TILA 1635 ( d ) * * and * * Reg. Z 1026.15 ( d ) * *, all obligations of the borrower are void upon proper notice of rescission. You were required to * * return all funds received * * ( e.g., down payment, trade-in value ) and to terminate your security interest in the vehicle.

-- - # # # 2. Unlawful Repossession or Retention of Property Despite this legal rescission, I understand the vehicle may have been : - * * Unlawfully repossessed * *, in violation of 15 U.S.C. 1635 ( d ) ( 3 ) ; or - * * Retained by the creditor * *, without refund of consideration or compliance with federal procedure.

* * This constitutes a wrongful deprivation of property * * in contravention of TILA. The statute clearly states that : > The consumer shall have no obligation ... and the creditor shall take any action necessary or appropriate to reflect the termination of any security interest created under the transaction. 1635 ( b ) Furthermore, the consumer is * * entitled to retain possession of the property * * until the lender has fulfilled its obligations under the law.

Therefore, I demand the * * immediate return of the vehicle * * or provide a written plan for transfer of full, unencumbered title.

-- - # # # 3. Reservation of Defenses under UCC 3-106 ( d ) I hereby * * reserve all defenses and rights * * under * * UCC 3-106 ( d ) * * and declare the instrument ( loan or finance agreement ) to be * * non-negotiable * * and subject to contract defenses.

Specifically : - You may not enforce this instrument against me as a * * holder in due course * *, due to violations of contract formation law, failure to disclose terms, and rescission under federal statute.

- I retain all rights of * * equitable offset * *, * * rescission * *, and * * recoupment * *.

-- - # # # 4. What I Require You are hereby notified that : - The contract is * * void * * ; - The vehicle is to be * * returned to my possession * * or * * deemed paid in full * * ; - All references to the account must be removed from my credit report consumer rescinded under TILA. * * - Any further collection, reporting, or repossession will be treated as a violation of federal statute and consumer protection law.

-- - # # # 5. Timeframe for Action I expect a written response within * * 7 business days * * of receipt of this letter. If I do not receive a satisfactory resolution, I will proceed with a formal complaint to : - The * * Consumer Financial Protection Bureau ( CFPB ) * * - The * * New York State Attorney Generals Office Consumer Frauds Bureau * * - Legal action, including damages under TILA 1640 and UCC remedies

Company response to consumer: Closed with explanation