American Finance Company

Delaware law requires that the vehicle buyer acknowledge the “Delaware Division of Motor Vehicles Dealer Disclosure Statement of Title Brand” by signing the disclosure statementThe purpose of this disclosure is to document that the customer has been informed and understands the vehicle has a salvage title Mr [redacted] and the dealer signed this disclosure referring to the customer’s Jeep Wrangler being branded as a salvage/rebuilt salvage on 10/24/(attached)When Mr [redacted] bought the Jeep on 10/12/it had 120,miles on itThe vehicle had 186,miles when an insurance claim was filed for a 3/29/incident The vehicle was driven over 60,miles during this month periodTwo insurance claims were filed by Mr***--the first for a 6/25/rear-end collision estimated at $and the second for a 3/29/pot hole incident estimated to be less than $ Both insurance claim estimate documents are attached We are not aware of any facts that would indicate wrongdoing in this matterWe remain committed to assisting Mr [redacted] with any questions or issues with his account

As explained in the Welcome Letter that we sent to you on July 28, 2015, American Finance, LLC reports its
accounts to Transunion, one of the three major credit bureaus. This account has been included in that reporting. We have reviewed the Transunion Account Review for this account and have determined that it is reporting accurately and completely at this time
If we can be of any further assistance, please don’t hesitate to reach out to us at *** ***

In consideration of the complaint filed by Ms***, please note the following:• On 10/10/14, Ms *** obtained financing from American Finance LLC to purchase a Chevrolet TrailblazerThe total amount financed was $Please see
#AThe retail vehicle installment contract consisted of the following:• The sale price of the vehicle was $9900.00• Vehicle Service contract: $1250.00• GAP protection: $495.00• DMV Tag & title fees: $496• Total cash price of $less $cash down payment bringing the total financed amount to $@ 26.9% APR as indicated on the signed contract.Our calculations of interest are based on the percentage rate of 26.9% annuallyThis rate is calculated over the term of her loan, which is four years.We rely on the customer to inspect the vehicle to make sure that it meets their needs and expectationsWe had no prior knowledge of any mechanical issues, other than the contact that Ms*** made with our office on April 17, 2015, for which she was merely asking for her warranty information, which was purchased at the time of the initial contract.If Ican be of any further assistance, please do not hesitate to contact me

Delaware law requires that the vehicle buyer acknowledge the “Delaware Division of Motor Vehicles Dealer Disclosure Statement of Title Brand” by signing...

the disclosure statement. The purpose of this disclosure is to document that the customer has been informed and understands the vehicle has a salvage title.


Mr. [redacted] and the dealer signed this disclosure referring to the customer’s 2004 Jeep Wrangler being branded as a salvage/rebuilt salvage on 10/24/2013 (attached).
When Mr. [redacted] bought the Jeep on 10/12/2013 it had 120,000 miles on it. The vehicle had 186,620 miles when an insurance claim was filed for a 3/29/2016 incident.  The vehicle was driven over 60,000 miles during this 29 month period.
Two insurance claims were filed by Mr. [redacted]--the first for a 6/25/15 rear-end collision estimated at $1690.52 and the second for a 3/29/16 pot hole incident estimated to be less than $500.00.  Both insurance claim estimate documents are attached.

We are not aware of any facts that would indicate wrongdoing in this matter. We remain committed to assisting Mr. [redacted] with any questions or issues with his account.

In consideration of the complaint filed by Ms. [redacted], please note the following:• On 09/16/13, Ms. [redacted] obtained financing from American Finance LLC to purchase a 2008 Chevrolet Cobalt. Ms. [redacted] financed $7,718.00 @ 26.9%. She agreed to pay this...

account in bi-weekly installments of $145.10. These payments were to commence on 10/04/13, followed by 77 additional bi­ weekly installments, with the fina l payment being due 09/16/16.• Ms. [redacted] was concerned as to exactly how her payments had been applied and had questioned charges for Collateral Protection Insurance (CPI). CPI is forced placed insurance that is applied to an account when we receive a notice of cancellation from the customers insurance carrier.• After a complete review of this file, including the contractua lrequirement of insurance coverage for this vehicle, American Finance LLC has received payments totaling $5,654.40 and applied them as follows:Principal Balance: $3,163.48 Interest:$2,465.92Convenience Fees: $10.00 (over the phone credit & debit payments)CPI: $15.00 (lack of insurance coverage from 10/1/14 through 10/05/14)On February 25, 2015, American Finance LLC's representat ives, [redacted], CSR, Jim DiFelice,Comptroller, and [redacted], Legal Compliance Officer,met with Ms [redacted] to review her account status. A complete review of all her account history was reviewed with her including CPI charges, interest, per diem, and convenience fees.The CPI charges were applied after each cancellation notice was received from her insurance carrier. The CPIcharges were then credited back to her account upon verification of reinstatement from either Ms. [redacted] or the insurance company.  We also discussed w ith Ms. [redacted] the daily per diem interest which accounts for the variance in the payoff she was quoted.   At the conclusion of the meeting, Ms. [redacted] assured us that she had a clear understanding of her account history.  Ms. [redacted] was encouraged to contact us if she has any further questions or concerns.

American Finance, LLC can, without notice, delay enforcing its rights to repossess a vehicle for which it holds a Retail Installment...

Sales Contract.  In reviewing this account for repossession, we determined that it would not be in the customer’s best interest to repossess the vehicle.  The costs to repossess the vehicle (including storage fees of $25/day at the repair shop) exceed the benefit to the customer.
 
Please do not hesitate to contact us at[redacted] if we can provide any further assistance.

Review: I purchased an 04 Chevrolet trailblazer at car zone and I financed my car through Amerian finance at a 26% interest charge at the time I was rralky in need of a car and very gullible without transportation. The interest is worth double the blue book value of the car and its not worth ot especially since ive been having problems with the car as well. Y he interest rate is too high.Desired Settlement: Lower interest rate.

Business

Response:

In consideration of the complaint filed by Ms. [redacted], please note the following:• On 10/10/14, Ms [redacted] obtained financing from American Finance LLC to purchase a 2004 Chevrolet Trailblazer. The total amount financed was $11741.00. Please see #AThe retail vehicle installment contract consisted of the following:• The sale price of the vehicle was $9900.00• Vehicle Service contract: $1250.00• GAP protection: $495.00• DMV Tag & title fees: $496• Total cash price of $12141.00 less $400.00 cash down payment bringing the total financed amount to $11741.00 @ 26.9% APR as indicated on the signed contract.Our calculations of interest are based on the percentage rate of 26.9% annually. This rate is calculated over the term of her loan, which is four years.We rely on the customer to inspect the vehicle to make sure that it meets their needs and expectations. We had no prior knowledge of any mechanical issues, other than the contact that Ms. [redacted] made with our office on April 17, 2015, for which she was merely asking for her warranty information, which was purchased at the time of the initial contract.If Ican be of any further assistance, please do not hesitate to contact me.

Review: I have a vehicle that I finance through the American Finance LLC Company. I have been financing the car since October of 2013. I recently had an employee fax over all of my history and payment transactions, after going through all that was sent over to me, the money added up on my end from theirs was different. I set up a meeting with Dawn who was the lady I had been dealing with for the last couple of months, during our phone call to set up the meeting she stated to me that she wanted to bring in her director because things were not looking right; yet in the meeting she didn't say a word about what was going on other than that I make my payments on time and even ahead, while the guy that was sent in tried intimadting me, making me feel like all I was saying was a lie and that there was no way I was being ripped off. I explained to him I have been told different payoff numbers since the end of September but they kept going up and never ended up going lower. After cutting me off and continuing to just allow him self to talk, he assured me he would look over it that night and next morning and give me a call the following day at 3:00pm. I never received a call or was told about what they came to find, I waited until after 4:00pm that day to call, when I did Dawn answered and quickly began to say she was sending over a fax of it all broken down, I again asked for my payoff while on the phone that day only to find that yet again it went up $5.00 more dollars in a matter of the previous day. Everything on the fax that was sent over to me was changed and the fees that were added such as the insurance I was charged multiple times even when I was covered throughout all the times of being charged were removed from the paper. I have paid more than what they are claiming I have, and have paid for extra things such as insurance mulitple times without even knowing until after I recieved copy of my history. I have called and left 3 messages since 02/13/2015-02/16/2015 but haven't recieved a response.Desired Settlement: I just want the money that I have paid for my car directed to my car and my car only. And all extra I was charged refunded back to me and things with my vehicle straight, along with my credit being effected the way it should be instead of being brought down, even though I have my payments ahead, on time, and extra.

Business

Response:

In consideration of the complaint filed by Ms. [redacted], please note the following:• On 09/16/13, Ms. [redacted] obtained financing from American Finance LLC to purchase a 2008 Chevrolet Cobalt. Ms. [redacted] financed $7,718.00 @ 26.9%. She agreed to pay this account in bi-weekly installments of $145.10. These payments were to commence on 10/04/13, followed by 77 additional bi­ weekly installments, with the fina l payment being due 09/16/16.• Ms. [redacted] was concerned as to exactly how her payments had been applied and had questioned charges for Collateral Protection Insurance (CPI). CPI is forced placed insurance that is applied to an account when we receive a notice of cancellation from the customers insurance carrier.• After a complete review of this file, including the contractua lrequirement of insurance coverage for this vehicle, American Finance LLC has received payments totaling $5,654.40 and applied them as follows:Principal Balance: $3,163.48 Interest:$2,465.92Convenience Fees: $10.00 (over the phone credit & debit payments)CPI: $15.00 (lack of insurance coverage from 10/1/14 through 10/05/14)On February 25, 2015, American Finance LLC's representat ives, [redacted], CSR, Jim DiFelice,Comptroller, and [redacted], Legal Compliance Officer,met with Ms [redacted] to review her account status. A complete review of all her account history was reviewed with her including CPI charges, interest, per diem, and convenience fees.The CPI charges were applied after each cancellation notice was received from her insurance carrier. The CPIcharges were then credited back to her account upon verification of reinstatement from either Ms. [redacted] or the insurance company. We also discussed w ith Ms. [redacted] the daily per diem interest which accounts for the variance in the payoff she was quoted. At the conclusion of the meeting, Ms. [redacted] assured us that she had a clear understanding of her account history. Ms. [redacted] was encouraged to contact us if she has any further questions or concerns.

Review: American Finance purchased limited physical damage insurance for my vehicle but I had my own physical damage coverage with never a lapse and proved that with a copy of my policy on multiple occasions. When I refused to pay the premium for this insurance they disabled my vehicle and left stranded on the roadside. I was forced to pay Meineke $299.90 for diagnostic work and American Finance another premium pmt of $110 to get my car ignition to turn back on. Additionally, my car was totaled on oct 10, 2013 through no fault of my own by a driver insured by Geico. American Finance quoted Geico a payoff of $7075 on oct 18 and now are refusing to honor this payoff. Further, AF called me on Nov 1 and demanded $100 which I paid or they would report derogatory info to the credit reporting agencies. They don't show this $100 on my acct and they are claiming I owe over $7300 at this time.Desired Settlement: I seek $619.9 . .$299.90 for reimbursement for meineke diagnostics that were unnecessary, the $100 I paid on nov 1 after the car was totaled and the $220 I paid in unnecessary insurance premiums

Review: I purchased a car thru a friends dealer who used American Finance. They knowingly sold the car w issues and it has been nothing but problems since. I have made on time payments to finance co and have warranty. had car 1 full yr now. and belt breaks bla bla warranty covers repairs, but now all I have 100$ deductible and wound up paying 484$ out of pocket, now I am behind on a payment call finance co to see if I can give up car that mechanic says is not worth fixing it is broken again, idle throttle sticks while driving and is extremely unsafe. along w other problems and he is telling me they will come get car, charge me the rest of my payments along with the towing fees. I believe it is unfair, I am willing to turn car over and eat the 3500 I have already paid into it. I was also told I was paying 14% interest and recently found it is 26% Just feel this co needs some investigating. thanks so much for your time.Desired Settlement: I just want to save my credit, I made a bad choice by using this co and not researching it first. lesson learned but if they are shady I want it known so this doesnt happen to others.