John's Garage

First let me start by apologizing for a poor experience you had with our company. After reviewing your application, it appears that you were initially approved as you indicated. However, once we learned about your vehicle that you are refinancing, it was determined that you no longer qualified. Your...

initial approval was based solely on your credit but your vehicle also meet our guidelines (2007 or newer, less than 100,000 miles and less than a 125% LTV meaning we will finance up to 125% of the value of the vehicle). In your case, the LTV is over 170% and therefore no longer qualify. When you completed your application with us you agreed to allow us to pass your information on to 3rd parties if we were unable to approve your application which is what we did. I have now removed your information from any further marketing efforts per your request.Again, I am sorry for your poor experience. I hope we can earn your business sometime in the future.Regards,The OpenRoad Lending Team

Ms. [redacted],Thank you for voicing your concerns with the additional credit inquiries. When you completed your application with us, you gave us permission to pass your application along to other parties if we were unable to assist you in refinancing your vehicle. Since your complaint, I have removed...

your name from that happening anymore in the future. I have included those disclosures below. Again, I do apologize for the poor experience and hope we can earn your business sometime in the future. The OpenRoad Lending TeamI agree that OpenRoad Lending may forward this application and my financial information to one or more third party lenders, dealers, affiliates or others that may be able to offer me, or assist me in finding, financing or other products that meets my needs. Some of these affiliates may offer or arrange dealer financing rather than a direct loan from a lender.I expressly grant OpenRoad Lending and its third parties, affiliates, agents, service providers or assignees the authority to call and/or email me with questions related to this application and share information about other products and services available.I authorize OpenRoad Lending and its lending partners, automobile dealers,  third parties, affiliates, agents, service providers or assignees to obtain such additional information as may be required, including credit reports, in order to complete the processing of my application.

I am sorry that you feel this way.  Again we are here to make loans but unfortunately we can't help everyone.  I am sorry you felt you were unable to read all the disclosures and that you applied for your spouse.

I understand if you send my information to other parties and they contact me IF I WANT TO APPLY FOR THEIR COMPANY; however if you send them my info and they run my credit multiple times it's TOTALLY UNACCEPTABLE. Your company is just hurting MY CREDIT SCORES with HARD INQUIRIES, and in this case my wife's because like I mentioned before I got confused and put her social security number NOT MINE! So in other words since the application is under MY NAME BUT THE SOCIAL SECURITY IS UNDER MY WIFES SHE NEVER AGREED TO LET YOUR COMPANY RUN HER CREDIT MULTIPLE TIMES. It's unacceptable and very unprofessional the way your company treated me, I had never encountered such company with such awkward way of keeping private OUR PERSONAL INFORMATION. I want your company to REMOVE ALL THE INQUIRIES THAT YOU AND YOUR PARTNERS DID TO MY WIFES CREDIT; I believe it's only fair since unfortunately was her credit not mine and she never agreed to it.
Regards,

I would like a copy of the full application they referernced that I completed. I have not paid ahead on my loan. OpenRoad Lending wanted to turn a 30 mo loan into a 72 mo loan w/o telling me.

I am sorry that we were unable to help you but from a credit perspective you were prequalified.  The reason you were declined was because your vehicle did not meet the requirements.  If you look on back of the letter there is the following language which specifies that your vehicle must be...

a 2011 or newer and less than 100,000 miles.  From the letter:Credit is available for the refinancing of one loan on your credit report that is secured by a vehicle or light duty truck that is no more than seven model years old or newer, with a maximum mileage not exceeding 100,000.  Again I am sorry we could not help at this time.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID 11235473, and find that this resolution is satisfactory to me.  Even though I believe that this lender utilizes predatory practices, due to the fact that key details are buried in fine print, there is nothing that they will do to correct that as they feel they are in the right.  I will utilize other means to express my displeasure, including social media, local news media and word of mouth.  OpenRoad Lending needs to make their terms and business practices clearer.  They need to change the wording of their mailings and emails.  They need to make it quite clear when a loan is ACTUALLY approved.

You shared my information with other companies after I gave you notice not to do so and you confirmed. Below is the list.  Again, I only responded to your pre approved offer and NOT these other companies.  I sent certified letters to the other companies for proof of my signed application so I can show the FTC that they did not have my permission to run my credit and you agreed it would not be shared with any one else as the application will only be the one from YOU. [redacted]

I am sorry we couldnt help but when you applied (before we made a loan decision) you entered on the application that you were refinancing a 2008 Ford F 250 Super Duty V8 with 114,000 miles so yes we do know what vehicle you own once we make a credit decision.  However we do not know what kind it is when we send the mailer.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID 11550319, and have determined that this does not resolve my dispute.
Please enter your reason(s) for rejecting the business response below.
Regards,
[redacted]
This complaint is not about me not liking the outcome. I initially was interested and began to start the process. I DID NOT submit the application by choosing the 'submit' option. As I was choosing to close out of the window I got the prompt that it was submitted. I am not sure how your website is programmed that even allowed this. I am offended in the accusation that the complaint is based on me not being satisfied with the result, which is highly untrue. I did not have intention on submitting the application. I did not authorize the transaction. This violates the Fair Credit Reporting Act Section 1681 (c).

I rejected because my personal information got compromise, open road lending share my personal information with Roadloans. An agent with the name of [redacted] call me telling me than they had approved my loan and they will be sent me paperwork in a second e-mail. my question is how come this company roadloans got my address and social security number. in this case I am blaming the company Open Road Lending for sharing my personal information without my authorization.

Complaint: [redacted]
I am rejecting this response because: After almost 8 weeks, I haven't received a bill for an auto loan that was advertised with 98% customer satisfaction, and it turns out a simple search of the mystery company that now has my loan shows that over 90% of customers are unhappy and they have given me no way to pay a bill that is still accruing interest!!!  They have owed me a refund for weeks because I made a payment before the loan was paid off, and I had to file a Revdex.com complaint to make them recognize this.  They lured me in with the idea of a speedy process and money savings, and almost 2 months later, I am having to fight with these dishonest people just to get a bill and contact from the actual lender!  This is totally unacceptable for such a "reputable" organization.Why are you advertising a bank ([redacted]) with an "A+" when over 90% of customers are unhappy???Regards,
[redacted]

Not sure why you are claiming predatory lending without any facts but the definition is “Unscrupulous actions carried out by a lender to entice, induce and/or assist a borrower in taking a mortgage that carries high fees, a high interest rate, strips the borrower of equity, or places the borrower in...

a lower credit rated loan to the benefit of the lender.” I see we funded a loan with you back on 9/27/17.  Your previous auto loan was at an interest rate of 18.02% and a payment of $460 per month and the one we gave you was at 11.99% (a reduction of over 6%) and the new payment was $409.  Saving you thousands of dollars over the life of the loan.  You can always make additional payments to shorten your term and save you further over the loan but you have the flexibility of the lower payment and lower interest rate.  I am not sure why that you consider saving you thousands of dollars as predatory.  You signed the note and security agreement in your house in your own time so you also had time to review any conditions of the loan.  I am sorry you are not totally satisfied but we did save you thousands of dollars.  Please let us know what you consider unscrupulous to the loan.

Again I am sorry but the disclosures on the back list out the reasons why we sometimes cannot help as listed on the prequalification notice.

I'm afraid that there seems to be some confusion on the part of the business as to what they have or have not done.  For one, OpenRoad Lending DEFINITELY accessed my credit file before issuing the "decline" response.  OpenRoad Lending produced a .pdf letter that detailed why they were declining my application, and I have a copy of that particular letter both in physical and in electronic form if the Revdex.com needs to see it.  The letter confirms that in fact OpenRoad Lending accessed my credit file with Experian, even listing my credit score.  My concern at this point is that the company is attempting to have other lenders run my credit...over and over again...until they find some lender that will give us the loan.  I do NOT want this done multiple times!  I have already asked this company through email and through the Revdex.com to instead rescind the other credit inquiries so that my credit score will not suffer.  There has already been a reduction in my score and further attempts by multiple other lenders will only continue to damage my credit.  This needs to stop.I assert once again that there seems to be more than just an opportunity to lend someone money, but it appears as if there has been an attempt to garner business for credit issues through a law firm.  I am asking again that OpenRoad Lending speak with Experian and whatever other credit bureaus they have worked with about removing the inquiry or inquiries since this appears to be more than just an offer for credit.  I can't afford to have multiple inquiries putting a dent in my score for the next two years.  STOP sending in inquiries and have any other lenders stop doing the same.

I am sorry you had a poor experience with our company. If you had read the terms and conditions on the application you would have seen you were opting in to allow us to pass your application on to others if we were not able to assist you with you refinancing. There is a way to opt out of us sharing...

any data (which I have now done for you). That can be done at www.openroadlending.com/optout. Again I am sorry you had a poor experience and I hope we can earn your business in the future.  Regards,The OpenRoad Lending Team

We weren't saying that you made up the information but it has been done in the past so we have to protect ourselves to make sure someone can make the payments.  You would be stunned what extent some people go to in order to forge IRS documents.  We have no way of knowing if they were ever filed or not.  It is very common for self employed persons to have to provide bank statements as a means for a loan.  In fact sometimes employed persons have to provide bank statements for a mortgage, so for us to require that kind of documentation is not uncommon for a loan.  We can only make money by lending it so I don't know what kind of scam this is because we want to get you a loan; however, we have certain requirements for loans to protect us and you to make sure you can make the payments.   Some lenders are willing to 'waive' certain requirements in exchange for a much higher interest rate. For this particular loan we need to see bank statements.
I am sorry you are frustrated by the situation but we have to follow our rules for making loans to self employed persons.

Thank you for your email. When you applied with our company, you agreed to certain terms and conditions that permit us to forward your application to other companies if we are unable to assist you with your refinancing. Unfortunately, we were unable to assist you because your LTV or loan to value...

far exceeded our allowable guidelines (170% vs 125% maximum allowed) and therefore we passed your application onto other companies to assist you. Since your complaint, we have removed you from any further marketing and your information will not be passed to any other partners. We do apologize for the poor experience. Listed below are the terms you agreed to:I agree that OpenRoad Lending may forward this application and my financial information to one or more third party lenders, dealers, affiliates or others that may be able to offer me, or assist me in finding, financing or other products that meets my needs. Some of these affiliates may offer or arrange dealer financing rather than a direct loan from a lender.I authorize OpenRoad Lending and its lending partners, automobile dealers,  third parties, affiliates, agents, service providers or assignees to obtain such additional information as may be required, including credit reports, in order to complete the processing of my application.The OpenRoad Lending Team

First let me start by apologizing this was not a good experience for you. Our goal is to make applying with our company a positive experience for everyone. There are specific disclosures you agree to once you complete the application.Once you complete the application, you agree to allow us to pass...

your information to other lenders who may be able to offer you financing:I agree that OpenRoad Lending may forward this application and my financial information to one or more third party lenders, dealers, affiliates or others that may be able to offer me, or assist me in finding, financing or other products that meets my needs. Some of these affiliates may offer or arrange dealer financing rather than a direct loan from a lender.I authorize those third party lenders, dealers, affiliates or others which are forwarded the application to share information in the application and any other credit information they obtain with other third parties who may be able to offer or arrange for a loan or financing through a dealer or other products and services.You can find the link here : http://www.openroadlending.com/terms-conditions/Also multiple auto inquiries in a short period of time (within 2 weeks) have little or no affect on scoring as discussed here but you can find many more if you just google it.  This is directly from Experian: http://www.experian.com/blogs/ask-experian/2009/03/01/impact-on-credi...⇄ we do apologize for your poor experience with our company and hope we can earn your business some day in the future.

Mr. [redacted] - thank you for letting us know about your experience with our company. When we initially reviewed your application, you were pre-approved as you stated. However, that approval is based solely on your credit profile and there are other items that must also meet our guidelines before we can...

fund a loan for you. In your case, the LTV or loan to value is over the maximum allowed of 135% of the wholesale value of the vehicle. Your particular LTV is 146%. We have attempted to get our credit team to allow an exception but based on your credit score, we are not allowed to make an exception on this application. Once a couple of more payments are made on your account, your LTV should be inline and we will be able to assist you at that time.Again, I apologize about the poor experience you had but I hope we can earn your business in the future.Regards,The OpenRoad Lending Team