Consumer complaint received 2025-02-25 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Confusing or misleading advertising or marketing
Company: AC AutoPay LLC, Denver, CO Branch
State: WI

Complaint narrative:
On XX/XX/XXXX, I applied for an auto loan refinance through Autopay after receiving a pre-qualified offer through XXXX XXXX. The offer explicitly stated, " Congrats : Your chance of approval is outstanding! '' and advertised a 5.99 % APR. My full credit profile and vehicle details, including the VIN and model year ( XXXX ), were already known before I applied. 

I have excellent credit and no reason to assume that the age of my vehicle would affect my ability to qualify for the advertised rate, especially since this restriction was never disclosed in the pre-qualification process. 

After submitting my application, I was instead offered an 8.4 % APR and told that my vehicle was too old to qualify for the original rate. However, Autopay and XXXX XXXX already had this information before I applied, making this a clear case of bait-and-switch advertising. The lender stated that vehicles older than XXXX do not qualify for the advertised rate, yet this restriction was never disclosed in the pre-qualification process. 

Additionally, my credit report now reflects two separate hard inquiries from different financial institutions oXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX These multiple hard inquiries negatively impacted my credit score, yet nowhere in the application process was it disclosed that multiple hard pulls would be performed. The only authorization I gave stated : " By checking this box, I acknowledge that I have read and agree to the Terms of Use and Privacy Policy ( Terms ) ; that I am at least 18 years of age and that all the information provided is true, correct, and complete and I grant permission to AUTOPAY and/or its Lenders to obtain a copy of my credit report. '' This statement does not disclose that multiple lenders would run separate hard credit inquiries. 

Actions Taken : I contacted Autopay and asked them to correct the issue. They refused to remove the inquiries and instead blamed XXXX XXXX, claiming they do not see the pre-qualified offer details. However, XXXX XXXX system explicitly stated my full vehicle information before I applied. 

I asked for the 5.99 % APR to be honored, since my vehicle information was fully known upfront. They refused. 

I requested removal of the two hard inquiries, because they were based on misleading advertising and lack of proper disclosure. They refused. 

How This Harmed Me : Bait-and-switch lending tactics misled me into applying for an offer that was never available to me. 

Two separate hard inquiries were placed on my credit report without proper disclosure, harming my credit score.

Autopay refuses to take responsibility, despite their lending partners being responsible for these hard inquiries. 
I have attached screenshots and video evidence that prove : The misleading XXXX XXXX pre-qualified offer stating my approval was " outstanding. '' The Take Offer language, falsely implying that the loan terms were secured. 

XXXX XXXX advertiser disclosure, which confirms that these offers are third-party ads, making Autopay responsible for the misleading information. 

The checkbox disclosure, which does not clearly authorize multiple hard inquiries. 
Autopays refusal to correct these issues is why I am escalating this matter to the CFPB for investigation.

Company response to consumer: Closed with explanation