John's Garage

Thank you for your comments and concerns. I have reviewed your application and first want to share that you are approved and to lower your interest rate over 6% and can reduce the number of payments you have remaining by 8 if you want the same payment or can keep the remaining term similar and lower...

your monthly payment considerably. Regarding your concern about your application... when you apply with us you agree to allow us to pass your application to other lenders in an effort to get you the best terms possible. This, according to Experian, has little affect on your credit score (you can read their opinion here (http://www.experian.com/blogs/ask-experian/2009/03/01/impact-on-credit-scores-o...⇄ Our goal is always to get the best possible terms related to your car loan refinancing. Again, I do apologize for any inconvenience this may have caused and hope we can earn your business. You can contact one of our Loan Care Agents at ###-###-####.Regards,The OpenRoad Lending Team

As we find out your loan to value (how much your car is worth)and the exact amount of your payoff the rate can go up. The higher the loan to value the higher the rate. Many lenders wont do any loan to value over 130% but yours is over 145%. We are still lowering your rate by over 4% and saving you money over the life of the loan. I am sorry that your LTV is higher than most which causes a higher rate to be charged. We are still 25% lower than what you are currently paying so it can save you money.

Again multiple inquiries made within 14 days have no effect on your credit score. You can research yourself but here is just 1 of many articles by Experian (the largest credit bureau) addressing the issue. http://www.experian.com/blogs/ask-experian/2013/10/30/multiple-inquiries-when-sh...⇄ /> Unfortunately when you submit your application to us, you give us permission to pull credit and to pass to others IF we cannot help your situation. Most of this occurs instantly so its hard / difficult to stop the process.
Again I am sorry for your poor experience with us.

Response to Open Road Lending: Once again your company doesn't get the magnitude of what you did. You gave my personal information to companies that I don't know and never agreed to do business with them. It's all on recording. So, stop responding as if I gave you all permission. My words are on the recording. One of your supervisors pulled the recording and heard it. I received a letter from one of the many companies that pulled my credit and it had in there that two many inquiries is one of things that affected my credit score along with a couple of other things. I think your company is incompetent and negligent. Inquiries drops your credit score. After being negligent, now you are trying to insult my intelligence. You all have the nerve to keep sending me advertisement, when I've made it known how I feel about your company and what you all did. This further speaks to your incompetence and your lack of integrity. If I keep getting advertisement from you all or any of your sister companies, then I'll be forced to file harassment charges. Your business has already cost me time and money trying to reach out to all these companies, which you all failed to do b/c I've spoken to a few of them a couple of weeks, after I spoke to you all. They didn't have a clue b/c your incompetent behinds fell to do so. Some reached out to me b/c I sent them emails. You all haven't done anything but caused me heartache and pain. I'm going to have to watch my credit. A couple of the companies said they were going to try and get those inquiries removed. So, I'm trying to give it a few more days before I pull my credit report. I'm trying to allow time for Experian to get the letter asking them to remove the inquiries from them and the other companies they gave my information to. You all created this mess and you haven't once tried to rectify this situation. Consumers need to be aware of you all.

Complaint: [redacted]
I am rejecting this response because: Any business associated with the Revdex.com and displays the Revdex.com logo knows that the logo is a link to information on the Revdex.com website about the company. The Revdex.com logo on this companies website show up as just a .gif and does not link to the Revdex.com at all. Also when researching information for this Company on the Austin & Fort Worth Revdex.com Website there was no listing for this company, and no record that the company belonged to the Revdex.com. If the company does have a listing with the Revdex.com send me the link and I will stop my complaint, but everything I have looked at on [redacted] does not link this company with the Revdex.com and therefore is false advertising. 
Regards,
[redacted]

I am sorry for the confusion but let me address each one of your concerns separately.  When you applied at openroadleding.com you agreed to the following language.  Pay close attention to #3. “I Agree to these Terms and Conditions” box, the applicant and any co-applicant ("I," "me," and...

"my") each agree that: (1) I received and read the State Disclosures and the OpenRoad Lending Privacy Policy; (2) I received, read, and agree to the Consent for Electronic Disclosures and all other Terms and Conditions for this application shown above; and (3) I understand that I could have multiple inquiries on my credit report through this process and I am granting OpenRoad Lending and its partners permission to access my credit report to determine if I qualify for refinancing my existing auto loan, and (4) I provide express consent to receive autodialed/prerecorded calls/texts regarding financial services or other credit related offers from OpenRoad Lending or one if its third party lenders or affiliates at any number I have provided (consent to be contacted is not a condition to purchase services). We are a licensed lender in Illinois and every other state we do business in.  As far as multiple inquiries they have no effect on your credit score.  They are counted as a single inquiry for scoring purposes.  Here is an article from Experian that says this [redacted] but you can research on your own. You were approved on credit basis but like a mortgage the value of your vehicle must be under certain loan to value limits (how much you owe as compared to the value of the vehicle.  In your case, the existing loan was over $25,000 but your vehicle is only worth about $13,000.  Our absolute max is 160% so you are well above that.  If you can make payments to bring the LTV in line we can help you. I am sorry that [redacted] did not give you the phone numbers of the other creditors but here they are a) [redacted] Again I am sorry that we cant help you at this time but I will address with our agents to be willing to give out the phone numbers.

Thank you for voicing your concerns. I do see in your file that you have been removed from any further solicitations and you have been removed from allowing your information passed to any other parties. As an FYI, you agreed to allow us to pass your information when you completed your application....

Those disclosures you agreed to are below. I apologize for the poor experience you have had with our company and hope we can earn your business in the future.Regards,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 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.

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.
We have now removed you and opted you out of future mailings and your
information will not be passed to any additional lenders.
Again, we do apologize for your poor experience with our company and hope
we can earn your business some day in the future.Regards,The OpenRoad Lending Team

Im sorry we were unable to lower your rate.  I am not sure where the 6.99% came from but your final rate can only be guaranteed once you apply with your income, we can pull your current credit profile and determine the value of your vehicle, including options and mileage.  In your case we...

did approve you just not at a rate that created enough saving.  Part of the reason your rate is where it is is because your loan to value (what your car is worth in comparison to what you owe) is over 127%.  If you could pay down to under 110% then your rate would go down as well.  As far as the credit drop of 2 points, that amount is really immaterial in total as the biggest driver to improve your score is making your payments on time.  The credit score is constantly moving as creditors are updating your for payments and/or new credit, so its always a moving target.  When you applied, one of the checkboxes you agree to is: • I agree to consent to Electronic Disclosures and to use electronic records and signatures. I consent to receive disclosures electronically.So we did have permission to have you sign electronically.  Again I am sorry we were unable to help at this time.

In no way could we label out every possible add / delete to all 50 states for titling purposes.  Then you have all the name change and variation issues with people titled on registration differently than title which is different than their drivers license.  The matrix is complex and would befuddle consumers.  I appreciate the suggestion but it isnt practical to our business.   Again I am sorry for the complaint.

Again I am sorry but the moment you hit submit on our application, we run your credit.  All of our recorded calls and communication is after that point.  We gain nothing to run your credit knowing you wont qualify.  It only costs us money to get your credit report, create the profile and spend time in talking with you.  We would only do that if we think we can help.  Sometimes we cannot help so I dont know we would have gained by running your credit knowing we couldnt help.  Again I apologize.

Mr. [redacted],Thank you for your comments. As you mentioned, there are other factors in determining your final rate other than just your credit which is what the pre-approval is based. A list of those are located on the back of your letter. In your case, the LTV or Loan to Value (the amount you owe...

compared to the actual value of your vehicle) far exceeded our allowable limits. We were able to still offer you something but unfortunately based on that LTV, your approval APR was increased to offset the added risk associated with it. The OpenRoad Lending Team

Mr. [redacted] - I am sorry for you poor experience with our company. If you had read the letter we sent you, it was based on your credit information and based on that alone, we could have approved you. But if you will notice, your vehicle must also qualify. It must be a 7 year old or newer vehicle...

which your is but must have less than 100,000 miles, which your does not.Unfortunately, this is outside our lending guidelines and are not able to assist you.The OpenRoad Lending Team

Customer has since closed a loan lowering his current rate by over 7% and saving thousands of dollars over the life of the loan. This needs to be closed as resolved.

Complaint: 12751192
I am rejecting this response because:It is the principal at this point as you are not being 100% truthful.It is amazing how many similar complaints can be found online.A conversation with the state attorney general confirmed my experience.
Regards,
[redacted]

OpenRoad sent a blank application. They claim I filled out a complete application which I dispute. I requested they send a copy of the application they claim I filled out and instead they send a blank app.

I find it hard to believe that any one would just hang up on you.  Please send any copies of flyers or mailers with offers for a cruise to [redacted].  Also you can call me at ###-###-#### and I will answer any of your questions.

First let me apologize by not being clear about our partner [redacted].  I want to address each issue separately so I can be very clear. 1) The 5.45% was offered because you applied with Colorado as your state of residence and we could have offered that but you are a residence of Indiana. ...

We we are limited on our lenders in that State because of some of State's crazy laws.  However we were able to get you approved by [redacted] at 8.74%.  This was 10% less than you were currently paying with [redacted].  This still saved you thousands over the life of the loan. 2) [redacted] is an A+ rated company and here is a link to their page ([redacted]).   3) [redacted] is the online brand of [redacted].  [redacted] is the parent company and not unusual for a company to use one brand for online and one for offline.  Here is a link to the about us in the second paragraph where it states this fact ([redacted]).  Even the logo on the website says [redacted] by [redacted]. 4) Your loan will be serviced and maintained by [redacted] and I assume the bureau will report as [redacted] since they own the loan. 5) I have attached your NSA that you signed for $11,139.18.  I also called [redacted] and verified that they are processing a refund check of $514.56 and will be mailed by 12/8/17.  You will be able to take this refund and apply to principal to bring down your balance.  The reason for the large refund is probably because you made a payment after we got our payoff and the 2 crossed in the mail.  In the logo of the NSA that was signed it says [redacted] by [redacted] in the top right hand corner. 6) With all loans, not just this one, interest accrues from the moment the account is set up even if you "dont have to make a payment for 45, 60 or 90 days".  Interest is always owed on borrowed money.  The exception is the subvented financing by manufacturers but the price of the car makes up for the lost interest so you are always paying for borrowed money. I do apologize that it wasnt made clear enough in the transition that [redacted] is owned by [redacted].  We will address with [redacted] to change some of their transition documentation.  We did address this same complaint over email with our President and over facebook but the facts are still the same.

I am rejecting this response because:[redacted] distinctively told me that he has worked for your company for 6 years and this buffer policy was only in use for part of his time there.  I have contacted my state dealer association and that is not common practice.  I contacted a bank, a credit union and a auto finance company and it isn't something they do either. Both you and I collect funds to payoff vehicle accounts to obtain title so we aren't necessarily apples to oranges.  [redacted] also distinctly told me that he was SHOCKED that the interest rate was higher because of $430.00  The adjusted value of the vehicle with the options and the CORRECT miles is $10,858 and over $12,00 for retail. Another huge issue I have is the fact that this is the only way I get any response form anyone at Openroad. I left 2 messages and sent emails to both the the person handling the contract and the comment email address.  I was not rude or mean for a single second when [redacted] was trying his best to explain.  Honestly, as nice as he was I am sure he was frustrated with the basic generic answers he had to offer.   It's not the 1% or the $200 that I have the issue over its the fact that no one bothered to tell me prior and no one responded after I questioned it when receiving the paperwork. It is also an issue that there is no written documentation showing the remaining balance of the $200 will be returned.  Of course I would love to save thousands of dollars and I would love to refinance with a lower payment but I am sure you can understand my concerns.

Complaint: [redacted]
I am rejecting this response because:Then the information that you submitted was inaccurate. No I will not correct anything and you have yet to apologize for the behavior of your staff which just shows me that you don't care about the customer so you're just another company with nothing special to offer except promised lies.
Regards,[redacted]