Consumer complaint received 2024-12-31 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Problem with signing the paperwork
Company: CAPITAL ONE FINANCIAL CORPORATION
State: TX

Complaint narrative:
On XX/XX/year>, I purchased a vehicle from XXXX XXXX XXXX XXXX XXXX XXXX located at XXXX XXXX XXXX XXXX XXXX XXXX, trusting their assurances and professionalism. The vehicle was advertised as being in excellent condition on their XXXX page. However, shortly after purchase, I began experiencing severe safety and mechanical issues that were never disclosed Due to this verbal assurance and my trust in the dealerships professionalism, I signed the purchase agreement in good faith without fully reading it. As a first-time buyer, I relied on their transparency and integrity, only to discover later that critical information was deliberately withheld. 

During the test drive, I raised concerns about potential transmission issues, but the dealership assured me the vehicle was clean and safe to drive. Unfortunately, within a week of purchase, the vehicle broke down on my way to work ( XX/XX/XXXX ). The first breakdown caused the engine to go into reduced power mode, forcing me to stop in an unsafe parking area, creating a dangerous situation. The following day ( XX/XX/XXXX ), it broke down again on the freeway, resulting in a sudden loss of power in traffic, which nearly caused a life-threatening crash. I immediately informed the dealership, and the vehicle was towed back at my expense ( {$120.00} ). 

After the first breakdown, my direct representative, XXXX XXXX, verbally assured me that the dealership would take further action, including possibly canceling the deal or suggesting another vehicle, if more mechanical issues arose. He also advised me to continue driving the car because it hadnt been used for significant mileage. However, on XX/XX/year>, the vehicle broke down for the third time due to persistent overheating issues. This posed an imminent safety threat, as the overheating engine could have resulted in a fire or explosion, endangering my life and the safety of others. The vehicle was towed again at my expense and has remained with the dealership since. 

Additionally, the dealership failed to verbally disclose critical financing details, including the high Annual Percentage Rate ( APR ) of XXXX %. During the purchase, they only mentioned the total cost of {$11000.00} with monthly payments, without explaining the long-term impact of the APR. They also did not identify the financial institution, leaving me unaware that Capital one Auto Finance was involved until after I signed the agreement. These demonstrate a lack of transparency and suggest predatory lending practices, particularly as I am a first-time vehicle buyer in the United States who trusted the process. My concerns have been validated as I recently received several denial letters from banks, I was not even aware of, which suggests possible financial misconduct or unauthorized inquiries. 

Recently, after reviewing the vehicles history and financing terms, I discovered the dealership knowingly sold me a defective vehicle and withheld critical information : Undisclosed Recalls : The vehicle has XXXX prior recalls, none of which were disclosed at the time of sale. 
XXXX XXXX : The vehicle report reveals potential odometer tampering, which the dealership likely knew about and deliberately failed to disclose. 

The dealership appears to rely on the assumption that most customers are not educated about agreement clauses like As-Is. However, the As-Is clause does not absolve them of responsibility when they knowingly sell defective vehicles, fail to disclose material issues, and engage in deceptive practices. 

The vehicle has been with the dealership for repair since XX/XX/year>, and I have been forced to rely on XXXX for transportation to work. 

Despite repeated attempts to resolve the matter, the dealership has failed to address the ongoing issues. These issues appear to be linked to several mechanical problems, which I believe may include odometer fraud and undisclosed recalls. I have incurred significant expenses, including towing fees and alternative transportation costs. 

( This complaint appears to be related to the issues described in complaint XXXX, which I previously withdrew to ensure that the company could locate me accurately in their database and address the errors on the loan account. )

Company response to consumer: Closed with explanation