Consumer complaint received 2024-06-19 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Repossession — Lender trying to repossess or disable the vehicle
Company: Lendbuzz Inc.
State: FL

Complaint narrative:
I was defrauded, Misrepresented and emotional damage Is there an agreement between XXXX and the Lendbuzz? 


Do you believe the agreement encloses a lender and a borrower? 

What do you believe the agreement is? 


Does this agreement show the words borrower, lender, loan, interest, money or credits within this agreement? 


According to your knowledge who was to loan to what to whom according to the written agreement? 

Do you believe an ordinary person can use ordinary terms and understand this written agreement? 

Do you believe you or your company legally own the promissory note and have the right to enforce payment from the borrower? 

Does a {$16000.00} note have actual cash value of {$16000.00}? Actual cash value mean the note can be sold for {$16000.00} in the ordinary course of business? 

So according to your understanding of the alleged agreement how much actual cash value must the bank loan to the borrower in order for the bank to legally fulfill the agreement and legally own the promissory note? 

So according to your belief if the borrower signs the promissory note and the bank refuses to loan the borrower {$16000.00} actual cash value would the bank or the borrower own the promissory note? The borrower Do you believe the borrower agreed to provide the bank with {$16000.00} Of actual value which was then used to fund the {$16000.00} bank loan check back to the same borrower and then agreed to pay the bank back {$16000.00} plus interest? 

So if this happened in your opinion would the bank legally own the promissory note and be able to force XXXX to pay the bank interest and principal payments? 

Well is it bank policy that when a borrower receives a {$16000.00} bank loan the bank receives {$16000.00} actual cash value from the borrower that this gives value to a {$16000.00} bank loan check and then this check is returned to the borrower as a bank loan which the borrower must pay? 

Is this normal policy? 

Do you believe the agreement between XXXX  and the bank is that I provide the bank with an actual cash value of {$16000.00} which is used to fund a {$16000.00} bank loan check back to myself which then am required to repay plus interest back to the same bank? 

Did you not say earlier an ordinary person can use ordinary terms and can understand this written agreement? 

Is there anything in this agreement showing that the borrower had knowledge or showing the borrower gave the bank permission or authorization for the bank to receive {$16000.00} In actual cash value from the borrower in the note and to use this to fund the {$16000.00} bank loan check which obligates the borrower to give the bank back {$16000.00} plus interest? 


If the borrower provided the bank with actual cash value of {$16000.00} in the note which the bank used to fund the {$16000.00} check and return the check back to the alleged borrower as a bank loan check in your opinion did Bank loan {$16000.00} to the borrower? 

So if a bank customer provides actual cash value of {$16000.00} to the bank and the banker returns {$16000.00} actual cash value back to the same customer is this a swap or exchange of {$16000.00} for {$16000.00}? 


Did the agreement call for an exchange or swap for {$16000.00} for another {$16000.00} or did it call for a {$16000.00} loan? 


Is LendBuzzs to follow the federal reserve bank policies and procedures when banks grant loans? 

What is the standard bank book keeping entries for granting loans according to the federal reserve bank policies and procedures and now Ill hand you the banker Fed Publication entitled XXXX XXXX XXXX by The Federal Reserve Bank XXXX XXXX Is this a swap or exchange of actual cash value? 

Does they not have both equal value? 

So if the banks deposits or liabilities increase do the banks assets increase by an asset that has actual cash value? 

Is there any exception? 

So if the banker records a new deposit, and records a asset out of the banks books having actual cash value would the actual cash value always come from a customer of the bank, investor, or a lender to the bank? 


Is the bank policy to record the promissory note as a bank asset offset by a new liability? 


Does the promissory note have actual cash value equal to the amount of the bank loan check? 


Then does this book keeping entry prove that the borrower provided actual cash value to fund the bank loan check? 


How much actual cash value did the bank loan to obtain the promissory note? 


Then how much actual cash value did the bank recieve from the borrower? 


So is it true you recieved {$16000.00} actual cash value from the borrower plus monthly payments and then repossessed the vehicle and you never invested XXXX  cent of legal tender or other depositors money to obtain the promissory note in the first place? 


Is it true the borrower financed the whole transaction? 


Are you telling me the borrower agreed to give the bank {$16000.00} actual cash value for free and the banker returned the actual cash value back to the borrower as a bank loan? 


Do the standard Fed publications show the bank receives actual cash value from the borrower for free and that the bank returns it back to the borrower as a bank loan? 


Do you believe the bank does this without the borrowers knowledge or written permission or authorization? 


To the best of your knowledge is there written permission or authorization for the bank to transfer actual cash value {$16000.00} from the borrower to the bank and for the bank to keep it for free? 

Does this allow the bank to use the {$16000.00} actual cash value to fund the {$16000.00} bank loan check back to the same borrower forcing the borrower to pay LENDBUZZ back plus interest? 


Then if the bank transferred {$16000.00} actual cash value from the borrower to the bank in this part of the transaction did the bank loan anything of value to the borrower? 


Is it the bank policy to first transfer the actual cash value from the alleged borrower to the lender for the amount of the alleged loan? 


Does the bank pay actual irs tax on the actual cash value transferred from the alleged borrower to the bank as income? 


If a loan is forgiven is it taxable? 


Is it the bank policy to not return the actual cash value that they recieved from the alleged borrower unless it is returned as a loan from the bank to the alleged borrower? 


You never payed taxes on the actual cash value you received from the alleged borrower and keep it as banks property? 


When a lender receives actual cash value from the alleged borrower does the bank claim that it then owns it and then its the property of the lender without the bank loaning or risking XXXX cent of legal tender or other depositors money? 


Are you telling me that banking policy is that the bank owns the promissory note which is the actual cash value without loaning once cent of other depositors money, or legal tender that the alleged borrower is the one who provided the funds deposited to fund the bank loan check and that the bank gets funds from the alleged borrower for free? 

Is the money then returned back to the same person as a loan which the alleged borrower repays when the bank never came up with any of its own money to obtain the promissory note? 


I gave you the equivalent of {$16000.00} you returned the funds back to me and I have to repay you {$16000.00} plus interest Does congress allow the banks to breach written agreements, use false and misleading advertising, act without written permission and authorization and without the alleged borrowers knowledge to transfer actual cash value from the alleged borrower to the bank and the return it back as a loan? 


Is it true that the actual cash value that was used to fund the bank loan check came directly from the borrower and that the bank received the funds from the alleged borrower for free? 


Is it the bank policy to transfer actual cash value from the alleged borrower to the bank and keep funds it as bank property which they then loan out as bank loans as if they actually own it and loaned their own money? 


Was it the banks intent to recieve actual cash value from the borrower and return the value of the funds back to the borrower as a loan? 


Do you believe that it was borrowers intent to fund his own bank loan check? 


So if a lender loaned a borrower {$10000.00} and the borrower refused to pay do you believe the lender is damaged? 


Is it the bank policy to take actual cash value from the borrower use it to fund the bank loan check and never return the actual cash value to the borrower? 


Was the actual cash value the bank received from the alleged borrower returned of the money the bank took or was it returned as a bank loan to the borrower? 


So how did the bank get the borrowers money for free? 




Lendbuzz is an AI-based financial technology company that helps consumers obtain fair access to credit when purchasing a vehicle. Powered by alternative data and machine learning algorithms, Lendbuzz can assess the creditworthiness of consumers with limited credit historya group underserved by traditional banks. Through our auto dealership partners, Lendbuzz offers consumers attractive financing solutions while opening up opportunities for those dealerships to serve a more diversified customer base. Lendbuzz is headquartered in XXXX, Massachusetts and was founded in XXXX.

Company response to consumer: Closed with explanation