John's Garage

I am sorry for your poor experience but when we send a prequalification there are items we dont know (that are disclosed on the mailer). We dont know how much your make or the type of car you are refinancing. In your case your debt to income, the amount of monthly debt payments
as a percent of your gross monthly income is over 50% with is too high. Also your loan to value, the value of the vehicle as compared to the loan is over 150% and is over our allowance to earn the lower rates. We have approved you but recognize with the above limitations that we cannot close the loan with such little savings. In cases like this, it does no one any good because we cant save you money and you cant save money. Again I am sorry we were unable to help you at this time

Thanks for your requestUnfortunately, once you apply for credit, we don't have the ability to remove your credit inquiryI am sorry we were not able to offer you a loan product. Hopefully we can earn your business in the future.Regards,The OpenRoad Lending Team

I am sorry we were unable to help you in refinancing the car but let me address a few of your items in the complaint. First, we can close loans in to business days but we need to have help from the customer. I can see that we spoke to you almost everyday (and sometimes several times
per day) for more than a week. Second, in your case your credit is really not "A1" but rather what we would consider "Average". Third since you are self employed we needed tax returns (to prove stated income) for and 2016. It appears that you have never filed since the IRS 4506-T showed no return. Finally, you live in NY which is a title holding state which means the consumer holds the title with the lien on the backIn your case we spoke to Nissan and they showed they had sent it to you so we needed for you to get a duplicate title from the State of NYSo there are many things going on that prohibited a timely and complete loan closure. I am sorry we couldnt help you at this time but we have some minimum requirements that must be met. Like you, we spent a lot of time on this and got nothing to show for it so it doesnt benefit us to go through all the steps as well

I am sorry we could not help you We received your application and the vehicle that you are trying to refinance has over 150,miles on it On the back of the mailer you will see a disclosure that states we cannot refinance any car over 100,miles So from a credit perspective
you are eligible but from a collateral perspective you are not The good news is we did not pull your credit since your mileage was too high and no lender can refinance a vehicle with that high of mileage

Again we cannot remove our inquiry as it was valid as required by the credit bureaus as it was an attempt for credit. You can see by this article (and you can search for many others on the subject) by Experian that multiple inquiries in a short period (say days) has no negative effect on your credit. http://www.experian.com/blogs/ask-experian/multiple-inquiries-when-shopping-for-...⇄ The credit bureaus have very strict reasons for removal of inquiry and generally are around fraud. We sent the mailer with the assumption we could lower your rate but we do not know your income or your loan to value of your vehicle. I am sorry for your poor experience

Im sorry for your experience but only one person name Wendy from our company has called you. We log all our phone calls and emails and we only have one location in Texas so I don't know who else would be calling you. We do have you approved for an interest rate that is about half of your
current interest rate and your current lender is not incented to lower your interest rate because they have you on a contract for a much higher rate. So let us know if you want to move forward or not. Thanks

I am sorry you keep rejecting our side of the story. I have presented our side which disclosed the terms and conditions before you applied. Also the credit bureaus do not allow me to remove inquiries unless there is fraud. In this case it was you who applied and you were inquiring about an auto loan so I cannot meet your request. Again I am sorry for the situation

Mr*** - sorry for the delay in getting back to youOur call center agent read you our disclosures that details we could pass your information onto other parties if we are not able to assist youUnfortunately we were unable to assist you because of your LTV (loan to value) meaning the
amount you owe on the vehicle you are refinancing exceeds the percentage we are able to financeThe maximum LTV we can finance is 140% - you are at 148% todayAfter a couple more payments we should be able to assistAgain, when you called into our call center to complete the application you gave a verbal acknowledgement that (1) we could access your credit report and (2) we could pass it along to other parties if we were unable to assist you.I am sorry for the poor experience you had with our company but I am hopeful we can earn your business in the future.Regards,The OpenRoad Lending Team

First let me start by telling you how sorry we are that you had a poor experience with our companyUnfortunately, we need to see your credit profile first before determining the LTV (loan to value) that you qualify forAs you can imagine, the better your credit score, the more leeway we allow on
the LTV'sIn your case it wouldn't have matteredYour current LTV is over 190% meaning you owe almost double what the vehicle is worthWe have no programs that allow for an LTV that highOur standard program allows up to 125% of the value of the vehicle. Again, I do apologize for the poor experience and I hope we can earn your business in the future.Regards,The OpenRoad Lending Team

I would like a copy of the full application they referernced that I completedI have not paid ahead on my loanOpenRoad Lending wanted to turn a mo loan into a mo loan w/o telling me

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID 11550319, and have determined that this does not resolve my dispute
Please enter your reason(s) for rejecting the business response below
Regards,
*** ***
This complaint is not about me not liking the outcomeI initially was interested and began to start the processI DID NOT submit the application by choosing the 'submit' optionAs I was choosing to close out of the window I got the prompt that it was submittedI am not sure how your website is programmed that even allowed thisI am offended in the accusation that the complaint is based on me not being satisfied with the result, which is highly untrueI did not have intention on submitting the applicationI did not authorize the transactionThis violates the Fair Credit Reporting Act Section (c)

I am sorry we couldnt help but when you applied (before we made a loan decision) you entered on the application that you were refinancing a Ford F Super Duty Vwith 114,miles so yes we do know what vehicle you own once we make a credit decision. However we do not know what kind it is when we send the mailer

I am sorry for your bad experience but we received your application on 1/17/from an IP Address of *** which is from a provider just around Ardmore OK (where you live). Also on your application, someone put that where you worked and what kind of car with mileage and who your
current loan is with. All of that is information that we wouldn't have without you or someone in your household applying for an auto loan. You stated you never completed an application with RoadLoans or anyone else. We are OpenRoad Lending (not affiliated with RoadLoans) and based on the previous information you did complete an application with us.On a separate note, we have approved your application to refinance your Capital one auto loan and lower your current interest rate by over 5% and save you money each month. Please let us know at ###-###-#### if you would like to proceed and we can start saving you money in the next few days

Mr***,First let me apologize for the poor experience
We pride ourselves on providing world class service to our customers and
clearly this was not one of those experiencesYour pre-qualified offer is based solely on your credit informationAs stated on the back of the letter, there are
still other factors that you must meet in order to get your refinance loan finishedThose range from collateral type, mileage, income, debt ratio's, loan to value on your vehicle, and in your case, employmentYou were auto-declined by our system because you do not meet our minimum employment length of monthsAccording to what you submitted, you have only been on your current job for months and there is no previous job information listedYour overall credit profile does not allow for any exceptions to this rule. Again I do apologize for your experience and I hope we can earn your business in the future.Regards,The OpenRoad Lending Team

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.*** a lie the car was already in a one week leaseI was offered a loan from Chase I can prove thisI have started actin with Lorain County sheriff's department and Lorain County civil courtSince they have no contract and no hand written signatures we will proceed with court
Regards,
*** ***

Complaint: ***
I am rejecting this response because:it is showing on both credit bureaus equifax and transunion as a hard inquiry, which does lower my credit which it didI still would like this remove, the lower apr sounds great and would like to do business
Regards,
*** ***

Im sorry you think we are lying about saving you money but here are the facts. You currently have months left on your loan with *** *** *** at 28.6% interest and a payment of $per month. So you owe them $24,(x $494) if you make your payments on time. We approved you 14.42% for months (we can make it different but for argument sake lets just leave it at months) with a payment of $413.14. So you will only pay $21,476. The savings is over $3,which is conservative because if you amortize the loan at the current interest rate, payment and amount due there is probably closer to payments because of deferments and fees. Again I am sorry you dont agree with the facts but I have been in auto finance business for years and we are saving you significant money. Thats fine you dont want to take it. Again your request was to not be contacted and we have removed you from our list

I am sorry if we didnt treat you with the highest respect but you applied with *** *** *** *** on 3/and they passed us your loan application. You were notified of the transfer by them but if you have questions you can contact them at ###-###-####. The best news is that
we have offered you a refinance rate of 5.95% which is over 12% less than what you are currently paying with your existing lender. This will save you over three thousand dollars over the life of the loan because your interest rate will go down by over 12%. Let us know if you want to proceed. Also multiple inquiries within a day period (of the same type of credit like auto or credit card) have no affect on your score. You can see this here in an article by Experian but there are many others out there that state the same ***). Again let us know if you want to proceed in saving you money

Ms***, I have reviewed your file and have determined we are able to provide you terms that will lower your interest rate and payment more than you indicatedI don't believe your loan care agent did anything wrong, however, we were able to go back to our credit team and get you more
favorable terms because of some items on your credit report that was overlooked initiallyI have provided Nathan with the new approval terms so please contact him to go over themWe have also waived any proof of income that was initially being requested so we should be able to get everything wrapped up and you on your way to savings quicklySorry for the poor experience initiallyHope we can earn your business. Regards,The OpenRoad Lending Team

THis does not address the fact that as stated in the letter I was sent from open road loans that stated I was pre qualified ,payments and and rates were stated in the letter and I just needed to accept the offer.I went online ,filled out all the forms they required and to complete the process I needed to attain my credit score.I did this and once I submitted it I was declined.This is very deceptive and has had a negative affect on my credit score