Consumer complaint received 2023-01-16 00:00:00
Product: Payday loan, title loan, or personal loan — Installment loan
Issue: Charged fees or interest you didn't expect — 
Company: Yamaha Motor Finance Corporation USA
State: FL

Complaint narrative:
This complaint is against the predatory and unconscionable billing practices by Yamaha Motor Finance Corporation. I note from your online Consumer Complaint Database that you have had hundreds of complaints lodged against Yamaha Finance. 

As background, in early XXXX I bought a new Yamaha XXXX Boat at the XXXX Boat Show. The dealer offered me no hassle financing through Yamaha Motor Finance Corporation, which I accepted. In XX/XX/XXXX I placed the monthly payments on my XXXX XXXX Bill Pay feature. The first payment for XX/XX/XXXX of {$260.00} was timely paid. All additional monthly payments between XX/XX/XXXX and XX/XX/XXXX were received by Yamaha either before the due date or within the grace period. 

On XX/XX/XXXX, I received a phone call from a Yamaha representative who stated they had not received my XXXX payment, and a late fee of {$39.00} was due. I explained to him that I was departing on a short vacation the very next morning, and I would look into the matter when I returned. Upon my return I checked my XXXX XXXX XXXX XXXX history to determine what happened. I checked back for XXXX ( XXXX ) months prior to XXXX, and all the XXXX XXXX payments were received by Yamaha either before the XXXX of the month, or within the grace period. The XXXX payment was processed by Yamaha on Monday, XX/XX/XXXX. However, I strongly believe, based upon the 2 year payment history, that the check was received in Yamahas post office box on either Friday, XX/XX/XXXX or Saturday, XX/XX/XXXX, within the grace period, but it was not processed by their employees those days. 

On return from my trip, my mail contained the bill from Yamaha for XXXX wherein they assessed me {$79.00} in late fees- for what the extra {$39.00} was added I didnt know. On XX/XX/XXXX I typed a letter to Yamaha explaining the circumstances, and mailed it to them. I requested they waive the late fee based on my excellent payment record for 2 years, however I never received any acknowledgment or response from them. 

Thus, on XX/XX/XXXX, I called Yamaha and spoke to a representative named XXXX. He told me that I now owed {$110.00} in late fees! I was furious and asked to speak with a supervisor. I was connected to a lady named XXXX. She alleged that they searched my record and found another late payment in early XXXX, [ but I was never notified of it, nor did they ever include it in their monthly bills ]. In order to save further time and expense, I offered to pay her the {$39.00} for the payment that was processed by Yamaha on XX/XX/XXXX, however she would not accept my offer. Instead, she demanded the entire alleged amount. That is when I decided to file this complaint with CFPB. Note that I changed my XXXX XXXX Bill Pay order so that all future payments by XXXX XXXX will be sent out on the XXXX of the month instead of the XXXX, to ensure that possible slow postal service could no longer result in a late payment. 

Then I went online to the Yamaha website and discovered what they had done. When my payment for XX/XX/XXXX was received by Yamaha on XX/XX/XXXX, they first took out the late payment from XX/XX/XXXX, then alleged that my payment for XXXX was not in the full amount, so they assessed another late fee for XXXX [ even though the payment was received early and they knew I was disputing the first late fee ]. Presumably, Yamaha wants to continue this improper and usurious accounting method until they can allege that I owe them a XXXX dollars in late fees and additional interest! 

Therefore, I restate my position that I am willing to pay Yamaha {$39.00} for the late fee they charged me on XX/XX/XXXX, providing that they cancel all other late fees and extra interest that have been or will be assessed due to alleged late payments that occurred during XXXX. I also seek agreement that they will not attempt to damage my credit rating over this dispute. Any assistance the CFPB can give me in this regard will be greatly appreciated. 

Sincerely, XXXX XXXX XXXX

Company response to consumer: Closed with explanation