John's Garage

Not sure of the response but the application that we received from *** *** is for a refinance of a vehicle that Mr *** owned He accepted the terms and agreement from *** *** which allowed them to forward his applicant data to us and for us to make an inquiry of his credit I am sorry we cannot help Mr***

Again I am sorry for the confusion but your first payment isnt due until around 12/because your loan funded on 11/1/because the first payment was for days later. I will reach out to *** to make sure someone makes contact with you tomorrow. I can assure you that you are not late and no late fees have accrued. If you want, you can call me directly at ###-###-#### and we can conference call with the SVP of Collections at *** that I know personally so we can find out what is going on. Your refund of over $will be coming from *** *** in the next few days as you made a payment to them in addition to our payoff. That will be more than enough to cover your first payment of $with Car Finance. Again I am sorry we didnt meet your expectations but are making changes to our documentation for *** customers to introduce *** ***

When Mr *** called he had already decided that we were wrong and proceeded to tell me why When I told him I could prove my position because I had the original emails, he never asked to see them When I also told him that one of his representatives told us that Openroad lending had dropped the ball he did not know how to respond In fact, every time I presented him with facts he sidestepped the issues I financed my two vehicles through Openroad lending and will be shopping for another car soon I've learned my lesson I have yet to see any proof that my GAP was not being transferred and I have been the only one to provide original proof of my existence of GAP The comment of not checking in to GAP three years later is asinine because I didn't need to check on GAP until my car was totaled years later Who calls to institute GAP until you need it? Has anyone ever won their argument with this company? Buyers, be warned!

I am rejecting this response because: The vehicle age was not known to you at the time of your decline. Whether or not the loan was approved does not mitigate the misleading language in the original offer with which you approached me

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my dispute
Please enter your reason(s) for rejecting the business response below
Regards,
*** ***
I have an updated report and as stated before the Experian rep and myself do not see what you see and the rep has also brought to my attention that I have NO accounts in collectionsThe accounts that you speak of are listed on my report under accounts and not collections and have been there for over a yearBut I can see I am getting no whereI give up, poor customer service at its finestOh and thank you for broadcasting details of my credit report on a public website

Mr***,First let me apologize for the poor experience you had with our companyWe pride ourselves on providing world class customer service and it's obvious we fell short of that this timeAfter reviewing your file, what appears to have happened is we had you approved at a lower rate initially
which calculated out to the payment you were initially quoted; however, when the LTV (loan to value) was calculated on your vehicle, you no longer qualified for that programTo obtain that rate, the maximum LTV allowed is 120% of the value of your vehicle meaning we can finance up to 120% the wholesale value of your vehicleBased on the payoff we obtained from your current lender, your LTV is 148% which forced you into a higher risk tier and a higher rateThat's still $per month savings from what you are paying now and almost a 5% savings in APRWe are happy to assist you if you change your mind.Again, we are sorry for the poor experience and I hope we can earn your business in the future.The OpenRoad Lending Team

When you completed the application you agreed to the following terms We passed to others in order to get your loan approved Again multiple inquiries in a day period has no effect on your score as stated in the previous response.By clicking on the “Click to Complete and Start Saving” button, the applicant and any co-applicant (each individually referred to as “I”, “me”, or “my”) agree to the following:I certify that everything stated in my application is true, correct and complete.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 needsSome 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 have read and agree to the State Disclosures and OpenRoad Lending Privacy Policy.I have read and agree to the Consent for Electronic Disclosures, agreeing to the receipt of these and future disclosures and communications electronically, including, without limitation, providing the Privacy Notice on OpenRoad Lending’s web site.If I have applied with a co-applicant, I and the co-applicant both acknowledge it is our intent to apply for a joint account.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 understand that if I am approved, the approval is only valid for daysIf my loan is not completed in that time, I authorize OpenRoad Lending to obtain a new credit report before finalizing the loanI understand that if something on that credit file changes from the time when I applied, OpenRoad Lending is not obligated to continue through with the loan approval or at the original terms provided to me.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

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 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 signaturesI 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

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID 11596004, and have determined that this does not resolve my dispute
Please enter your reason(s) for rejecting the business response below
Regards,
*** ***

I was never notified that my loan was approved at a lower interest rate of 10%. In fact, I regularly checked the status and was never advised of such. Therefore, I think it is unfair that several credit inquiries are on my credit reports when I did not authorize multiple inquiries. I am interested in saving money on my loan. If this offer of 10% or less is indeed legitimate, please have Open Road call me or contact me directly at ###-###-#### or me***[email protected]

Complaint: ***
I am rejecting this response because:
Regards,
*** *** There is no response from this company for resolution as of yet

Again I am sorry but Mr *** can send me the proof that they asked for it but it doesn't change the contract that they signed and the Final Truth in LendingThe customer has responsibility to know what they signed and also what is on the Final Truth in LendingMr*** should have seen that neither document had GAP in the contract and at that point asked questions why his payment was not higher
Its not a question of if anyone wins against us, its whether we can legally do something after the customer signed a contract that did not include GAP and after the car has been totalledWhen they received their final Truth in Lending and did not see that GAP insurance was included Mr*** should have contacted us at that time (which was almost years ago) to ask about GAP being included in their loan
Again I am sorry but for the situation

Typical deceiving company who hides behind their contrary clausesThere customer service representatives tell you the opposite of what their policy saysGarbage company, garbage service and garbage managementI will express my dislike of this fraud company by word of mouth and social networking

Ms***,Thank you for voicing your concernsWE have removed your information from being passed to any other partiesWhen you completed your application, you agreed to allow us to pass your information to other parties if we were not able to approve your application (see below)Again, we do
apologize for a 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 needsSome 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

Ms*** - thank you for your commentsI understand your frustrationUnfortunately when we issue that pre-approval it is based on your credit profile onlyThere are disclosures on the back of your letter that discusses other factors you still must meet in order to qualifyTwo of those (debt to
income ratio and loan to value) you do notWhile many of your student loans are deferred at this time, we still must include a minimum payment to determine your ability to afford the loan once those get in repaymentLikewise the value of the vehicle you are refinancing exceed the allowable limit we can finance.Again, we are sorry for the poor experience and hope we can earn your business someday.The OpenRoad Lending Team

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 UNACCEPTABLEYour 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 TIMESIt'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 INFORMATIONI 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,

In Tennessee we are a licensed lender. You can look us up at this page *** under TN Industrial Loan and Thrift (TILT) licenses. So we are a licensed lender but we do work with other institutions as well. Also as stated previously, multiple inquiries have no affect on your credit score, so whether we pulled it or several others did within a day period of the same type of credit (in this case auto loan), it didnt change your score. I cant show it more clearly, the multiple inquiries do not affect your score because they know when you shop, the prudent consumer looks around, so there is no penalty for shopping. The single biggest factor on your score is making on time payments with the credit you currently have. Also previously stated that when you applied it was disclosed in the terms that you accepted that you might have multiple inquiries. Again I am sorry we couldnt help you at this time

First of all I apologize that we were unable to approve you for the pre-approved rate but we did approve you for a lower rate (2% lower than your current rate) When we get your credit profile for pre-approval, we do not get 1) income or 2) the vehicle that you are financing So we make
some assumptions that your income is sufficient and that your collateral is within certain standards The reason your rate wasn't lower was because your loan to value (the value of your vehicle as compared to how much you are borrowing) is too high It is almost 150% LTV, meaning your vehicle is only valued at $12,but you owe over $19, There are risks that are involved when your LTV is that high and it is reflected in your interest rate If you are able to make a payment and bring the LTV down, your interest rate will go down as well Also when you apply you agree to these Pay close attention to # It allows us to have multiple inquiries By providing the information in this application and clicking on the "Click to Complete and Start Saving!" button and the “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).Finally, multiple inquiries have no affect on your credit score You can search this for yourself or check out this article by Experian (http://www.experian.com/blogs/ask-experian/impact-on-credit-scores-of-inquiries...⇄ I am sorry we were unable to lower your rate more but we are saving you money from what you are paying today and we help thousands of customers save money each month

Upon review of the file and calls we are requesting that Equifax remove our inquiry from 2/19/because we didnt have permission to re-pull credit after the customers initial application had expired. I am sorry for the situation and it will take at least 6-for the credit bureaus to process
the attached letter. The letter will be mailed today

Complaint: ***
I am rejecting this response because:
Regards,
*** ***