Consumer complaint received 2020-11-22 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Loan sold or transferred to another company
Company: JOHN GIBSON AUTO SALES, INC.
State: AR

Complaint narrative:
I purchased a XXXX XXXX XXXX from John Gibson Auto Sales, a buy-here-pay-here dealership located in XXXX XXXX, XX/XX/XXXX in XX/XX/XXXX. This vehicle was financed by XXXX XXXX, which is the finance company that owns this dealership. The total cost of the vehicle was {$27000.00}. The terms included a down payment of {$2700.00} and remaining balance of {$24000.00} was financed over 60 months. Approximately 2.5 years into this contract, I received a call from XXXX XXXX asking for proof of insurance. I was at work and I advised them that I did not have this information available. I had not had to provide this information previously, because this finance company had always verified insurance information directly from the insurance company. I added my wife 's name to the insurance policy and was unable to drive the vehicle personally due to medical reasons. My wife drove the vehicle periodically and I continued to make every payment on time. 

In XXXX, XXXX, without notice, my vehicle was repossessed by John Gibson Auto Sales, even though the payments were up to date. I contacted the finance company the next day. I found out that the vehicle was repossessed because of their inability to verify the insurance. I informed them that the proof of insurance ( a copy of the policy ) was in the glove compartment of the car. Even though the payments were up to date, the finance company advised me that I would have to do a new credit application in order to get the car back. I went to the dealership on a Saturday and was told that they were too busy to do " any kind of renewal application over the weekend '' and I needed to come back during the week. I was allowed to submit my application online, the next step was for them to verify the credit application before releasing the car back to me. I called the dealership back a few days later to check status on the credit application and was advised that the vehicle had been sold at auction. Approximately one month later, I received a letter from the dealership requesting payment arrangements from me for a final balance on the contract. 

The following is a copy of the correspondence to John Gibson Auto Sales : _____________________________________________________________________ XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX,XX/XX/XXXX XXXX ( XXXX ) XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XX/XX/XXXX XXXX RE : NOTICE REGARDING ACCOUNT NO XXXX Dear Collections Department : On XX/XX/XXXX, I received a letter from you indicating that a complaint has been prepared against me in an effort to resolve final payments for a vehicle that I purchased from you. This vehicle, a red XXXX XXXX XXXX XXXX XXXX : XXXX ) was seized from my residence, XXXX XXXX XXXX XXXX, XXXX XXXX, XX/XX/XXXX, in early XX/XX/XXXX. At the time of the seizure, monthly payments were current on the vehicle and the automobile was insured by XXXX XXXX ( documented ). 
As a condition of return, you requested a copy of my bi-weekly paystubs, a copy of my residential lease and new loan application. These items were forwarded to you on XX/XX/XXXX at XXXX XXXX ( documented ). 
Prior to this most recent correspondence from you, I received a letter from you indicating the remaining balance on the vehicle to be less that {$1800.00} and according to your letter dated XX/XX/XXXX, I am given fifteen ( 15 ) days from that date to contact you to establish a payment arrangement for this remaining balance. I look forward to hearing from. 
Thank you, XXXX XXXX XXXX Currently, this item is listed on my consumer credit report and has impacted my ability to receive credit..

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation