John's Garage

Ms***Thank you for sharing your concerns about our companyI have reviewed your application and have determined the reason you were denied is because you did not meet all of the criteria listed on the back of the mailerWe allow up to a 40% debt ratio and yours exceeds 70% meaning that is
the portion of your income that is eaten up each month in debt paymentsI am sorry we were unable to assist you in refinancing your vehicle but hope that we can earn your business in the future. 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 loanThis needs to be closed as resolved

This response does not address one of the issues that I outlined Why is it not made crystal clear that your "sharing my information" will result in even more queries on my credit report? What are there queries from OpenRoad on my credit report? I want all but one of these inquiries removed from my credit report with ALL credit reporting bureaus

This is incorrect. Customer applied and was approved to refinance his Jeep Grand Cherokee for a rate that was only slightly lower than his current rate. What the customer is not stating is on his current loan with WFDS, there is another borrower which does not want to be on the loan
anymore. In some states we are unable to delete customers off title and Georgia happens to be one of them. Also by only having person on the loan as compared to 2, the risk of default increases, thus making the rate go up.I am sorry we are unable to help you at this time but you are approved and if you add the other person to the loan, we will be able to continue

Again I'm sorry I applied for this sneaky company and their sneaky policies that when you apply through the mobile site it doesn't show them; but I'm not going to waste my valuable time again trying to get it through your head

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 #“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 *** but you can research on your ownYou 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,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 youI am sorry that *** did not give you the phone numbers of the other creditors but here they are a) *** *** *** *** *** ** *** *** *** *** *** *** ** *** *** *** *** 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

Mr*** - I am sorry for you poor experience with our companyIf you had read the letter we sent you, it was based on your credit information and based on that alone, we could have approved youBut if you will notice, your vehicle must also qualifyIt must be a year old or newer vehicle
which your is but must have less than 100,miles, which your does not.Unfortunately, this is outside our lending guidelines and are not able to assist you.The OpenRoad Lending Team

Again multiple inquiries made within days have no effect on your credit scoreYou can research yourself but here is just of many articles by Experian (the largest credit bureau) addressing the issuehttp://www.experian.com/blogs/ask-experian/2013/10/30/multiple-inquiries-wh...⇄ /> 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 situationMost of this occurs instantly so its hard / difficult to stop the process
Again I am sorry for your poor experience with us

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
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
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

There are several pieces of information that is not public record that we use like year, make and model. Even if we did we still would not know your mileage on your vehicle (not public) or the options because not all manufacturers provide that information in the VIN decoders. The other information we dont have at the time of the mailer is your income so we have to make some generic assumptions. Again I am sorry but the LTV and income requirements are on the mailer and we have removed you from any future mailers.Tell us why here

I am sorry that we were unable to help you refinance your loan at this time You were approved but like all loans (mortgage, auto, etc) there can be requirements to complete the loan In your case it was to prove the income as stated on the application Unfortunately when we got
your pay stubs and validated the monthly amount of income it decreased by almost $1,per month which created the debt to income percentage to increase beyond the acceptable limits So we were unable to continue the loan process In the case of the documentation, the Power of Attorney is narrowly focused to only allow us to complete title work on your behalf Since we will not be refinancing your loan, the paperwork is meaningless for us and we will keep for audit purposes but will be locked up in a document vault.Again I am sorry we were unable to help at this time

I am sorry you felt like we wasted your time but when we send you a mailer we feel we can lower your rate by at least 4% based on what you are currently paying (around some parameters). We literally help thousands of customers each month do this and the hundreds of reviews on our site and the
Revdex.com site at *** are all valid. I think the Revdex.com would take offense that those are not real. If you want to remove yourself from ours and any other future marketing opportunities you can follow the instructions on the back of the mailer to opt out.Again we only make money if you take advantage of an offer to save you money. We only spend money to send mail so it doesnt benefit anyone if we are not actually fulfilling loans

They have in fact gotten me another loan with a better rate after rejecting my initial application I have no further complaints with this company

Ms*** - thank you for your emailI am sorry we were not able to assist you in refinancing your vehicleIt is not our practice to return any documents to you especially since most are copiesI would be willing to shred all documentation you provided as it relates to the two original
documents you returned to usAgain, all of the documents requested were in an effort to overcome the loss of income from what you stated on your application when you applied to what you could actually verifyWe will set into motion the destroying of the original paperwork you provided.Regards,The OpenRoad Lending Team

A tax return and that are filed with the State and Government that are signed by myself and my accountant are not made upI can understand if it was just a generic but we are talking a 1099, tax return and I even offered to get a letter from my accountant on his letterhead to verify thisYou are not a mortgage company so to compare the two is irrelevantLike I stated before, I have dealt with different car finance companies in the past and all were fine with a and tax return so to say that is the norm is incorrectAlso, to say you are protecting yourself is going a bit farYou have verified my employment, my references and where I liveYou have seen on my credit report that I have made payments on my current car loan all on timeIf I was to lie, which I would never do, all you have to do is repossess the carThe bottom line on this is that you approved me, I sent you all the required information including proof of income and its not good enoughIf its not good enough, than why approve me. Also, I showed proof that nowhere in your e-mail did you outline the terms and conditions nor did you provide a link or tell me where these can be foundLook at it from my sideI was approved and now all of a sudden you are making things up to not approve mePhishing for information is a scam so to say you don't know how this can be a scam, well, there you gYou have all my information now and from reading other reviews, it is my understanding that you sell this information to other companies. You know what your company didBe honest and just admit that your advertising is deception or at the very least, just remove the inquiry from my credit report and return my paperworkI do not think that is too much to ask

Not sure what your rejection is but I apologized we couldnt help based on your current situation In the initial response we addressed all your concerns and we can help if you are able to pay down your loan to get the LTV within 160% (which is quite generous) Again I am sorry that at this time we are unable to help

I am sorry you feel this is unfair but this is the Chief Financial Officer responding and we have done this practice for years. I am sorry *** *** cant remember all of his time here but our policy hasnt really changed. Again we are not a dealer so nothing we would do would be like a dealer. Again I am putting it in writing that any overage goes back to the customer. 99.99% of the time your lienholder (Coastal Credit) automatically releases the funds back to their customer for any overage without me being involved. We have refinanced almost $billion worth of auto loans and have never kept a single penny from an over pay. It would be illegal as we are identifying on the note and security agreement how much is being paid to the former lienholder. Your loan funded with us on 4/so any overage you should be receiving from Coastal Credit by the end of May (I cannot control how fast they release overages, just that I can guarantee you get every penny of it). I dont know what else to do since you loan has funded with us

hi the number is***, the capital one account they are referring to was closed by them years ago and has come off of my credit reports, my other capital one card has NEVER had a late payment since opened over years ago, my credit one card has never had a late payment since opened, and my auto loan through capital one has Never had a late payment since opened, their reason for denial is a total lie and can be provenThanks for taking the time to reply, *** ***

First let me start by apologizing for your poor experience with our companyUnfortunately, we don't make the rules regarding titles, those are set by the stateIn GA, we are not allowed to remove anyone from an existing titleWe are reaching out to the state directly to see if there are any
exceptions to this rule and will get back in touch once we hear back from themIt will be sometime next week before we get any feedback.Rest assured we will do anything possible to earn your businessThank you for your patience.Regards,The OpenRoad Lending Team

Unfortunately this is not a valid condition for the bureaus to remove the inquiry since you did legitimately apply for a loan and they don't allow any time you don't like the outcome for inquiries to be removedI am sorry but this is their rules that we live by