Consumer complaint received 2025-05-14 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Problem with the interest rate
Company: Exeter Finance, LLC.
State: CA

Complaint narrative:
I am writing to formally dispute the validity of my auto loan with Exeter Finance ( Account XXXX. XXXX ) which was originated in partnership with XXXX XXXX XXXX XXXX XXXX XXXX under circumstances that I believe involve predatory lending, misrepresentation, and deceptive practices. 

I was referred to the dealership by an independent contractor who promised guaranteed approval regardless of my credit, with no down payment, no payments for the first two months, and no insurance required for 30 days. He filled out the entire online application on my behalfI was only asked to provide my full name, social security number and home address. He completed and submitted all other details of the application himself, I was never asked to provide employer information or proof of income at any point. The dealership did not verify any of the application details, nor did they require income documentation, a valid drivers license, or proof of insurance prior to finalizing the sale. 

I was also pressured by the independent contractor to arrive at the dealership quickly, as he told me it was important to get the deal finalized before the other finance manager arrives. While I did not fully understand the urgency at the time, in hindsight it appears that this was done to ensure the deal was handled by specific employees within the dealership, willing to approve transactions that would not have been approved or allowed to go through under standard ethical procedures. Indicating it was being pushed through in a way that bypassed proper oversight suggesting not only unethical behavior but a coordinated effort with the dealership to push through high-interest, improperly vetted loans outside of normal scrutiny. 

I was told via text by XXXX, one of the salesmen at the dealership, that my approval limit was {$23000.00} {$24000.00}. Later, I was also told that my payments were going to be around {$400.00}. However, the total amount financed on the vehicle was {$53000.00} and my monthly payments came out to {$730.00}. The vehicle itself had an online listed price of {$21000.00}, and the final loan included a finance charge of {$27000.00} at an interest rate of 28.13 %. I was not given the opportunity to see or test drive the car prior to signing, and I was rushed through paperwork after-hours with no contract copies provided until nearly two months later. 

The signing process itself was also highly irregular. The dealership 's financing manager assisting with my purchase was XXXX XXXX. I was asked to input my signature on a digital signature pad, and she rapidly clicked through all the contract pages, applying my signature to each one without allowing me any opportunity to review the documents because they were closed and needed to go home. The entire signing process was completed way too fast, I spent no more than 10 or 15 minutes at the dealership to complete the purchase, which is extremely concerning. For comparison, my last vehicle purchase took several hours to properly review and sign financing documents and review all warranty options available. 

Had I known at the time that the total loan amount would exceed $ XXXX than double what I was told I was approved forI would never have agreed to the purchase. The speed and manner in which I was rushed through the paperwork strongly suggests an effort to conceal key loan terms and prevent informed consent. 

I signed my paperwork on XX/XX/XXXX around XXXX XXXX PST. The customer copy of my contract was not even generated until XX/XX/XXXX at XXXX GMT, and I did not receive a copy of anything I signed until XX/XX/XXXX at XXXX XXXX PST. 

The day after receiving the vehicle, I found the air conditioning system was broken. I immediately contacted the dealership and later brought the vehicle in for service, where I ran into the financing manager who stated arent you glad I sold you that great warranty now?! Youre totally covered!. But I was later told by the service department that the warranty I was sold was basic with very little coverage. I was told the repair would cost upwards of {$3000.00} and it was not covered under the warranty I had been sold or by the dealership.I then no contacted Exeter Finance to report the issue. A representative from your company advised me to pause payments until the matter was resolved, suggesting that the dealership might be liable and that I may be allowed to return the vehicle and obtain another one. I followed these instructions in good faith ; however, I quickly began to be bombarded with calls from the lender asking for payments. 
I have also obtained a manufacturer bulletin ( XXXX ) dated XX/XX/XXXX, which confirms that the dealership was aware of common A/C system issues in XXXX XXXX XXXX vehicles, including failures to achieve proper cooling and the need for UV dye-based leak detection. Upon reviewing the vehicles XXXX XXXX  service history report, at no point was the vehicle inspected after this recall letter came out. It is now clear that the dealership either failed to-follow this required diagnostic procedure or deliberately avoided disclosure of the issue. 

Following the initial A/C diagnosis, I was forced to return to the dealership again after the check engine light activated. The dealership had previously dismissed this entirely and even told me that the cause was " probably a loose gas cap, '' despite the fact that my specific model XXXX XXXX XXXX does not even have a gas cap. The service staff informed me that there was " nothing to be concerned about, '' and that no repairs were needed. They suggested I simply purchase an aftermarket OBD scanner to clear future codes myself. When I scanned the vehicle on my own, I discovered the actual error codes were related to the EVAP system, including both " small leak '' and " large leak '' Permanent codes XXXX and XXXX, indicting serious issue directly tied to the-malfunctioning A/C system. This further demonstrates the dealership 's misrepresentation and failure to disclose known concerns prior to delivering the vehicle to me. It also appears the dealership may have rushed the transaction intentionally, potentially to avoid allowing time for these known A/C issues to be detected. 

In addition, I have since learned that the dealerships General Sales Manager, XXXX XXXX approved my dealwas terminated for allegedly pushing through multiple fraudulent loans using XXXX XXXX XXXX XXXX XXXX ), some of which were reported by identity theft victims. 

Based on all the information stated above, I am formally disputing the validity of this loan agreement and asserting that it was originated through deceptive and improper practices. I did not enter into this agreement knowingly, voluntarily, or with full and accurate information. The dealership and its representatives misrepresented material facts, failed to verify key documentation, and structured the loan in a way that grossly inflated the vehicles cost far beyond its actual market value. 

I have documentation, text message records, and other evidence supporting all the claims made in this letter, and I am prepared to provide them upon request or in the course of a formal investigation.

Company response to consumer: Closed with explanation