Consumer complaint received 2023-12-20 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Loan sold or transferred to another company
Company: Larry H. Miller Group of Companies
State: IL

Complaint narrative:
I am using this entity to demand payment before I file a lawsuit in federal court if so I will also file a complaint with the office of comptroller currency, office of financial institutions, and the IRS. On XXXX XXXX I purchased in good faith a used 2019 XXXX XXXX from XXXX XXXX XXXX online XXXX ; that was allegedly financed by Prestige Financial Services. After reading, in the FDIC website about the TILA requirements, I have reasons to believe that my whole contract is null and void and also FRAUD. One is that any company that follows TILA and Regulation Z where a contract is signed, they are to disclose everything that is involved with the securitization and finance charge of the contract. I have plenty of reason to believe that my monthly payments, APR, and term loans are not accurate. After carefully reading exactly what the finance charge is, there are things added in my finance charge that shouldn't have. According to 12 CFR 1026.4 The finance charge is a measure of the cost of consumer credit represented in dollars and cents. Along with APR disclosures, the disclosure of the finance charge is central to the uniform credit cost disclosure envisioned by the TILA. The finance charge does not include any charge of a type payable in a comparable cash transaction. Charges payable in a comparable cash transaction include taxes, title, license fees, or registration fees paid in connection with an automobile purchase. My XXXX includes temp tag, registration, and CASH, which can not be combined with a credit transaction. With this being in my amount financed it miscalculates my term, monthly payment, and APR. The FDIC also has a chart that breaks down everything that should have been offered to me or disclosed. Premiums for credit life or loss of income were not disclosed nor offered to me. It also states XXXX for property or liability insurance, I was told it was a requirement for me to have insurance, not that it was already included in the finance charge. It makes no sense to double pay. It was not disclosed that any charges obtained by the third party would be included in the finance charge. FDIC states that use of a third party is not required to obtain a loan. I was also never given any documentation telling me that I had 3 days to rescind my signature which according to 12 CFR 1026.23 this has to be disclosed especially since this is a federal law. It was also never disclosed to me that the " seller '' ( the dealership ) was granted a purchase money security interest in the vehicle. I have checked and there is no UCC 1 financing statement on the vehicle. 

In the past I did request for everything in my file to be sent to me. When going through the papers I noticed that quite a few things needed to be notarized. I never notarized ANYTHING in front of a notary. The papers that they sent me are also blank, my signature but no notary stamp or signature. So how could this be valid? The sale was made through text. The company drove the car from Ohio to Illinois and the contract was physically signed in the state of Illinois on my doorstep. All the papers that I have are to be notarized in Ohio. If none of these were notarized, how could they have been recorded with the state? 

I notified Prestige to not contact me by phone, email, or at my current address since I believe I do not owe them ANYTHING. They have continued to send mail to my house with these alleged billing statements attempting to collect a n alleged debt. They have also threatened to steal my car if I do not make payment and to report to the CRA 's I believe that they have violated 15 USC 1692c, 15 USC 1692d, 15 USC 1692e, 15 USC 1692 g. This is to name a few. I have also contacted the company asking for their indentured trustee which I have now done research to find out that it is XXXX. 

Prestige never told me that they were laundering my money into another entity and then that entity was depositing into a trust. I will attach this evidence with this.

Company response to consumer: Closed with explanation