Consumer complaint received 2025-08-23 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Confusing or misleading advertising or marketing
Company: WELLS FARGO & COMPANY
State: TX

Complaint narrative:
CFPB Complaint Narrative Wells Fargo Auto XXXX ( Account No. XXXX ) I am filing a complaint regarding my auto loan with Wells Fargo Auto, which I believe was originated under fraudulent and deceptive circumstances by Texas XXXX of Grapevine, causing me significant financial harm. 

Background of Purchase : On XX/XX/XXXX, I purchased a XXXX XXXX XXXX XXXX XXXX ( XXXX : XXXX ) from Texas XXXX XXXX Grapevine. 
The vehicle was advertised on XXXX for {$14000.00}. 
I placed a {$9000.00} cash down payment. 
Despite this, Wells Fargo Auto financed me at 12.79 % APR, leaving me with a current payoff balance of {$13000.00} far higher than the amount shown in the dealers own deal summary, which listed only {$5900.00} financed. 

Dealer Misrepresentation & Loan Steering : I was pre-approved through XXXX XXXX, yet the dealer steered me into Wells Fargo financing at a much higher cost. 
Text messages from the dealer confirm that they received my pre-approval but chose not to honor it, telling me : The paperwork would only be ready whenever you sign the agreement on the payment This indicates they disregarded my pre-qualified financing and pressured me into Wells Fargo financing instead. 
This constitutes loan steering and deceptive lending practices, increasing my costs without my informed consent. 

Concealed Damage & Misrepresentation of Vehicle : After purchase, XXXX XXXX performed an inspection showing {$6300.00} in hidden frame and mechanical damage, including rear frame damage. 
The XXXX report also revealed prior damage that was not disclosed at the time of sale. 
This shows the vehicle was misrepresented, meaning the loan itself was originated based on fraudulent collateral value. 

Legal and Compliance Concerns : XXXX. Truth in Lending Act ( XXXX ) : The advertised deal summary and the actual loan terms differ significantly in XXXX, amount financed, and payoff balance. 
XXXX. XXXX ( Unfair, Deceptive, or Abusive Acts or Practices ) : Dealer misrepresentations and steering away from pre-approved financing harmed me financially. 
XXXX. FTC Used XXXX XXXX : Dealers must disclose known frame damage. This was not done. 
XXXX. Texas Deceptive Trade Practices Act ( DTPA ) : Misrepresentations and concealments are prohibited under Texas law.

5. Dealers Own Terms of Use ( Texas XXXX of XXXX, rev. XX/XX/XXXX ) : Their terms state that fraud and fraudulent misrepresentation are exceptions to arbitration and liability disclaimers, reinforcing that I am entitled to remedies for fraud. 

Requested Resolution : I request that Wells Fargo Auto cancel or adjust the loan balance, given that it was originated under fraudulent misrepresentation and loan steering. 
I also request Wells Fargo cease reporting negative marks or charging fees while this dispute is under review. 

Supporting Documentation Provided : XXXX advertisement and deal summary showing the {$14000.00} price and {$5900.00} financing. 
Wells Fargo Auto loan statement dated XX/XX/XXXX. 
Text messages from Texas XXXX of XXXX confirming misrepresentation and steering. 
XXXX XXXX repair estimate ( {$6300.00} ). 
XXXX report showing undisclosed damage. 
XXXX of Texas XXXX of Grapevines Terms of XXXX acknowledging fraud exceptions. 
Complaint filed with the Texas Attorney General ( XXXX ). 

This loan should never have been originated under these terms. I ask the CFPB to require Wells Fargo Auto to review this matter and provide appropriate relief.

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