Consumer complaint received 2024-12-12 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Problem with additional add-on products or services purchased with the loan
Company: HYUNDAI CAPITAL AMERICA
State: FL

Complaint narrative:
Hyundai Finance, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX : XXXX Dear Sir/ Madam, This is a formal notice to inform you of the fraudulent actions of one of your business partners who I intend to take legal action against and how these legal actions may affect you and your business operations. The business partner in question is that of Hyundai XXXX which is located at XXXX XXXX XXXX XXXX, XXXXXXXX XXXX XXXX. The managing director there is XXXX XXXX XXXX whom I have been speaking to for over 1 year as we tried to resolve a case of fraud that was perpetuated against me during the purchase of a SUV from his dealership on XX/XX/XXXX which your company financed. 

On XX/XX/XXXX I went to the dealership and met with a car salesman by the name of XXXX. I settled on purchasing the XXXX XXXX XXXX for the sticker price of {$36.00}, XXXX. After selecting the SUV we proceeded into the building to complete the transaction. The salesman then came to me and said that the cost of the SUV was not {$52000.00}. I asked him why this was so and he said that it was due to the fact that I was a first time buyer and for government taxes and fees and as a fool I believed him as I later found out that he was lying. So, then proceeded to the finance office to conclude the transaction. I drove the vehicle off the lot but on Saturday XX/XX/XXXX I was looking through the financial documents and realized that I was robbed and that sort of fraud had taken place. On Sunday XX/XX/XXXX I returned to the same dealership and spoke with the same car salesman and told him of the discrepancies and told him that I wanted to return the SUV and he said that I couldnt but that I should return the following day and speak to the Finance Manager regarding my concerns. I did return to the dealership the following day and spoke with the finance manager. It was during this meeting that he informed me that the sales man had lied to me and informed me of some of the optional charges that were added to my account without my consent or approval. He informed me that the following charges were added to my account : XXXX- {$1100.00} Market adjustment- {$3900.00} Gap Insurance - {$1000.00} Maintenance - {$1000.00} The finance manager XXXX XXXX told me that these were the only fees added to my account which I didnt have a knowledge of and this was a lie as later on the manager XXXX XXXX XXXX would inform me that there were other optional charges added to my account which I was not aware of. So, when XXXX told me of these fees I told him that I wanted them removed from my account and he said that he could only remove certain fees which were : XXXX - {$1100.00} Gap Insurance - {$1000.00} Maintenance - {$1000.00} I signed a document on XX/XX/XXXX to have those items removed from the account and the funds credited to my Hyundai Finance Account. The cancellation of GAP INSURANCE and Maintenance was executed 9 months later on XX/XX/XXXX and the funds sent to you. They still have not cancelled XXXX  and sent the {$1100.00} dollars to you despite the fact that I have a signed contract with them to do so. 
On XX/XX/XXXX a payment of {$6500.00} was made to you by Hyundai XXXX on my behalf and this payment included refunds of other optional charges that were placed on my account without my knowledge and that XXXX XXXX the finance manager never made me aware of. I forgot to mention that I was overcharged for the SUV by {$2000.00}. The sticker price said the cost of the SUV was {$36000.00} and I was given a {$2000.00} rebate dropping the price of the SUV to {$34.00}, XXXX but on the sales contract it says that the cost of the SUV was {$38000.00} and I was given a {$2000.00} rebate dropping the cost of the SUV to {$36000.00}. So, they overcharged me by {$2000.00} and then added over {$15000.00} worth of add ons to the sales contract without my consent and then approached Hyundai Finance for a loan of {$52000.00} on my behalf for a SUV that doesnt cost more than {$37000.00}. This company would have taken me to the cleaners and back if the fraud was not detected, So, between XX/XX/XXXX and XX/XX/XXXX I continued my protest of the fraudulent action that was taken against me by this dealership. I filed complaints with various organizations. In XX/XX/XXXX the Manager XXXX XXXX XXXX sent me an email and in that email he stated that he had two ways to resolve the matter. The options are listed below : Option 1 : I would return the vehicle and they would pay off the loan and give me my {$2000.00} deposit back meaning that I would lose my $ 3000 monthly installment payments that I have made so far.

Option 2 : would be that they would remove the junk fees and I would keep the vehicle.

Option 2 seemed to be the better option and so I kept the vehicle. I then called XXXX XXXX and informed him that option 2 seemed to be the better option. I asked him to contact Hyundai Finance so as to restructure the loan as they had me on the books for a {$52000.00} loan. He said that he would do so. To this date this has not been done because as I said before that the value of the SUV was not more than {$37000.00} when you add government taxes and fees and I had made a {$2000.00} deposit so Hyundai XXXX should only have approached Hyundai Finance for a loan of no more than XXXXXXXX XXXX plus but instead they approached you guys for a loan of {$52000.00}. 

For the past year I have trying to settle the matter with XXXX XXXX out of court but its not going anywhere. He agrees with me that I was overcharged by {$2000.00} over the sales price and he also agrees that I have a signed contract for the cancellation of XXXX from the account and have the {$1100.00} sent to Hyundai Finance. So, at the moment XXXX XXXX should send at least {$3100.00} to Hyundai Finance as payment towards the loan. That is the {$2000.00} that was overcharged on the sales price and the {$1100.00} for XXXX bringing the total to {$3100.00}. I have pleaded with him to send these funds to you but he has refused even though he has acknowledged that those funds should be sent to you. 

He is saying that he will not send those funds to you until I sign a release agreement and accept {$7600.00} as a final settlement and payment and the {$3100.00} is a part of the {$7600.00} settlement. I told him that I can not sign this settlement agreement because its just taking off some of the junk fees as he is refusing to remove the {$1000.00} dealer fees that I was charged but never made aware of. I also informed him that due to the addition of these junk fees I was been charged extra interest fees and he had to take this into consideration. In an email that I will attach to this complaint XXXX XXXX acknowledges the fact that fraud was committed and he stated that as an apology he would remove the junk fees from the account. XXXX XXXX is holding me hostage for the actions of a crooked employee/s HOW DOES THIS AFFECT YOU A lawsuit will be filed against Hyundai XXXX and we will be asking the judge to place a stop order on all payments to Hyundai Finance pending the outcome of this legal matter. All payments will be made and held in an escrow account and pending the outcome of the trial payments will then be made from the account. We will be asking the judge that no interest payments be charged to me while the funds are paid into a holding account. 
I have asked XXXX XXXX to pay over at least {$3100.00} to Hyundai Finance but he has refuse to do so and due to his refusal resulted in no payments been made on the account on XXXX XXXX. This money was to cover payments for at 3 months. That is for the months of XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX. 

If Hyundai Finance tries to repossess the SUV during this time period then I will be forced to take legal action against your company as I am advising you now of the fraud that has taken place under my name and of Hyundai XXXX refusal to send the money that we both agree on that I am due for a refund on over to you.

I want to let the company know that I am not liable for a loan of {$52000.00} as the transaction between Hyundai Finance and Hyundai XXXX is filled with fraud and we have the documents to prove this.

HOW CAN YOU HELP IN THIS MATTER Contact Hyundai XXXX to hear their side of the matter. Ask them to transfer over to you the {$3100.00} that I had asked them to. The {$2000.00} that I was overcharged on the sales place and the {$1100.00} for the XXXX. 

In XXXX XXXX settlement offer says that {$7600.00} is all I get and I can not take them to court for any other damages. If I was to take that {$7600.00} settlement I would still owe {$31000.00} on the SUV for a Suv not worth more than {$37000.00} when it was bought and for which I was paying on for over a year in the sum of over {$11000.00} I am tired and stressed but I have to seek justice but if these are your business partners then I would greatly advise you to look into their business practices as they are opening you up for possible lawsuits.

If you wish to contact me then you can contact me at the email address listed on this complaint or by my phone number listed on this complaint.

Thanks in advance. I have submitted a copy of a demand letter that I once sent to Hyundai Finance. 



Sincerely, XXXX XXXX

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