John's Garage

I am sorry that we were unable to help you with refinancing your current vehicle but we, like all lenders have certain loan-to-value guidelines that we must be under. You are correct you were approved provided you can meet certain conditions. Some of the conditions were to prove your
income but before we did that we had to call and find out how much you currently owe on your vehicle. Then we have to find out what your car was worth. Once we got all that information we found out you owed over $40,on your vehicle that is only worth about $21,000, so your LTV is over 186% which is well above the 150% maximum LTV. As you can see we cannot move forward with the loan. I am sorry but we can only make money if we can lend money so this is just as frustrating for us as it is for you

*** - all we have to go by is the credit report we pulled when you appliedThe two charged off accounts in question were reported to the credit bureau on 7/1/Again if these are not accurate, contact the bureau and get it corrected

This response is due to the fact that the "acceptance of terms" does not list that my private and confidential information, such as my social security number, would be shared with other lendersIt also does not state that I accepted their authorization for other loan agencies to begin an applicationThe acceptance of the terms can and is understood as Open Roads Lending could share information with institutions allowing them to contact me for further assistanceIt does not give them permission to at on my behalf to authorize the origination of applications

Thank you for sending in your concernsI have reviewed your application and it appears there were some income discrepancies from what income you were able to verify versus what was stated on your applicationThat is the reason the application went from approved to declined because with that change
in income, you no longer qualifiedThat being said, our credit team feels that if both you and your husband are on your existing lease, we may still be able to qualify you for the loanThis will allow us to split the rent payment and should be able to budget you then to qualifyplease contact your loan care agent with that information and a copy of the lease so we can move forward.Thank you for your patience and again, we apologize for any inconvenience this may have caused.Regards,The OpenRoad Lending Team

Complaint: ***
I am rejecting this response because: I called the number on the mailer I received and I did not give my name but I did call via my cell phone ###-###-#### so you can check that outI asked about the reviews and the female I spoke to was very pleasant and assured meI have spoken with *** *** at *** and he has asked that I allow his firm to handle this due to your firms history and he will handle pro bonoI have also reached out to my Congressman, *** *** and have a sit down at his office in April.Regards,*** ***

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,
*** ***

Thank you for your concernsIt appears that you just applied yesterday and the application is still being processed at this timeIt does look like the initial approval has us lowering your interested rate from the 22.8% you are currently paying with Westlake down to 11.49% reducing the amount of
interest you pay by nearly half and dramatically lowering your monthly paymentBased on your request however, I will withdraw your application and remove you from any further solicitationIf you change your mind and wish to continue with the process, please contact us at ###-###-####.Regards,The OpenRoad Lending Team

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

This is the same complaint that was addressed in the reviews but we will answer again The borrower on the application was mailed a pre-approval offer to refinance her vehicle loan However she applied with the co-borrower whose FICO score was less than and at that point, us and
really no other lender is willing to complete the loan We send out mailers because we feel that we can approve the person to whom the mailer is sent to In this case that is still accurate As to the complaint about the advertising, our 98% satisfaction is a monthly survey that we send out to ALL borrowers, not just the postings on the Revdex.com (which are usually just the complainers) How many times when you have a good experience that you go out and tell anyone or say something without any prompting? Not very often As for the Revdex.com ratings on our website we only show that we are an accredited member and have historically been an A or A+ rated company and take it very seriously.Again I am sorry that we were unable to help both borrowers but in this case the mailer was sent to only the borrower (not the co-borrower) and we still stand by that position

First let me start by apologizing this was not a good experience for youOur goal is to make applying with our company a positive experience for everyoneThere 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 needsSome 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 weeks) have little effect 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-credit-scores-of...⇄ we do apologize for your poor experience with our company and hope we can earn your business some day in the future

Complaint: ***
I am rejecting this response because: I thought I already rejected this. The company that OpenRoad set me up with (*** via *** ***) has made no contact with me since opening a loan in my name for an amount greater than my actual payoff! I have likely missed a payment and am accruing both interest and late fees, but I wouldn't truly know because they haven't sent me a bill despite a new loan of $11,now showing up on all my credit reports. I had to make a payment on my car to the original lender because ORL and *** took so long to process all this that I couldn't let their lethargy ruin my credit. Also, I am receiving emails to leave positive feedback before even being acknowledged by the lender. ORL has sent me OVER THIRTY EMAILS during this process, many with redundant info and unanswered issues, and months later, I still haven't heard a thing from *** a.k.a*** *** *** a.k.aShady McShadertons
Regards,
*** ***

Complaint: ***
I am rejecting this response because: my problem was the Fossett for Maisch and that was provided to me but not knowing about you checking different businesses to get me alone you have this hidden in your page with multiple And how could I have received a preapproval for $21,if you were checking other places for a loan for me I feel that this is wrong and that you guys should not be doing this without my acknowledgment I am a brain cancer survivor and I am disabled your paper/ Application should be cleared and in the open so that Consumer can see that you were going to be Checkr in multiple places for a loan People that use your website for Loan already have credit problems you just add to make their credit worse and you are advertising on *** *** and *** *** states that a consumer can check to see if they can get along without damaging their credit score So I would like to see you advertise in bold letters that you will be checking multiple creditors for Carlisle also I have called your company three times and no one has called me back I'm so disappointed with all the expense I had when I was sick my credit ruined If I thought I could get along with another company with a lower interest rate I would have done that first I think that the federal trade commission should do something to restrict online lending companies from taking advantage of the consumer No I'm not happy I still would like my interest rate to be lowered It should not matter how much I owe on my car the point was you preapproved me for certain amount of money I will be waiting patiently to see if you did the right thing floor my interest rate and help me finish completing the application process I will chalk this up as I made a mistake As a company I would think you would want to try to make the customer happy
Regards,
*** ***

*** ***After working with the customer we have determined that the mailer we sent was for her because her credit was stronger. When the customer applied it had both borrowers. Since we are not able to get the rate down with both borrowers due to a bankruptcy several years ago.
We will remove the credit inquiry with the attached letter to the credit bureau. I am sorry we were unable to help at this time and we have met your request so we consider this matter closed. Thanks

It is a little unusual that someone is using your information (ie employer, SSN, year, make, Model, lienholder, etc) and its not you in order to lower your car paymentThere is not much for someone to gain in that scenario because this is a refinanceHowever, since you believe that someone else is using it without your permission, you will need to file a police report with the Ardmore police, since that is where the address was used to commit the possible crimeAlso I need to get proof of residence in Sanger to show you have movedOnce you have that police report and proof of residence we can start the process to remove your inquiryThanks

only offer you essentially the same rate. I will have the inquiries removed on all bureaus. Attached are copies what we are sending out

I am not sure what the customer wants at this time since in his last rejection it was blank and the prior one, he made a suggestion that we change our process to avoid having some customers think they are approved when they are not because their LTV is too high I appreciate the recommendation but at this time we have decided not to modify our process Please let me know if we can do anything else but at this time the customer's LTV is too high for us and probably most any other lenders at 180%

I am sorry that we were unable to help you I just wanted to address your concern of multiple inquiries on your score As you can see from this article by Experian that multiple inquiries have no effect on your score(http://www.experian.com/blogs/ask-experian/2013/10/30/multiple-inquiries-w...⇄ You research it for yourself as there are dozens of others that confirm this understanding on inquiries and score The biggest driver on score is timeliness of payment and debt utilization Again I am sorry that we were unable to help you because the DTI (because of the increase from Child support) was too high

I am sorry that we couldnt help you but the email has a disclaimer on the approval that states "Final terms of your loan will be based on several factors...." From a credit perspective you are approved but your loan to value (the amount you are borrowing as compared to the value of your
vehicle) has to be less than 150%. Your LTV is over 215%. If you are able to pay down your existing loan by about $5,(as a principal reduction) then we can continue. Unfortunately you are approved based on your credit but it is your existing loan that is too much for our guidelines which is no different than a house loan. I am sorry we couldnt help at this time

I am not sure if you monitor each of your credit reports as they all three report things slightly differentlyFor example, Your Experian file shows a new collection account as of 7/1/with a "convergent outsourcing" but doesn't show your child support at allEquifax shows the child support as of 6/30/with a significant balance but doesn't show the collection account in ExperianThe fact is your credit reports are different than when we first reviewed your file and not for the better unfortunately which is why we are unable to assist you at this time

Complaint: ***
I am rejecting this response because:i already have gap insurance and the manager did promise a certain paymentOtherwise I had turned down there offerThat is why there was no paperwork till after 6/I have the emailAlso370+ to is not slightThat is dollarsAnd I was never told to continue to make paymentsI could barely get a response from the rep I worked with.
Regards,
*** ***