John's Garage

Ms***,Thank you for voicing your concerns with the additional credit inquiriesWhen you completed your application with us, you gave us permission to pass your application along to other parties if we were unable to assist you in refinancing your vehicleSince your complaint, I have removed
your name from that happening anymore in the futureI have included those disclosures belowAgain, I do apologize for the 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.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

Ms***,I apologize for the poor experience you had with our companyWhen you received your pre-approved letter, there were certain items listed on the back of the letter that detail the approval termsWe did review your credit before mailing you the letter and based on your credit alone, you
met our qualificationsUnfortunately, we do not know your collateral information and in your case, that's why we were not able to assist you with refinancing your auto loanThe maximum amount you can finance is 120% of the value of your vehicleIn your case, based on the payoff of your current loan, your LTV (the amount you are trying to refinance compared to the actual value of your vehicle is 163% - well above our guidelines.I read your note and have removed you as you requested from any further marketing or data sharing.I do apologize again and hope we could earn your business sometime in the future.Regards,The OpenRoad Lending Team

I am sorry we were unable to help you refinance your auto loan but when you applied you agreed to the following: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 or live agent calls regarding financial services or other credit related offers from Credit.com, 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). I have reviewed the provisions above and the terms in each of the linked documentsBy checking the box, I am indicating that I agree to those terms and conditions. #above states that you could have multiple inquiries on your credit report. Also multiple inquiries have no adverse affect on your score as they count essentially as a single inquiry. Please see this article from Experian (https://www.experian.com/blogs/ask-experian/impact-on-credit-scores-of-inquirie...⇄ but you can find others that state the same information. Again I am sorry that we were unable to help you at this time

First of all I am sorry that we were unable to help you We send mailers to prospective customers because based on their credit we can save them money Based on your credit we could save you money However, we do not know your income or the vehicle that is going to be refinanced
until you apply In your case, the loan to value (the amount owed compared to what the car is worth) is over 200% Most lenders will not even do 150% because of the risk of default Therefore we were unable to help you at this time unless you were able to lower the balance owed I know that is probably an unreasonable request but it is the reality of the situation Again I am sorry we couldnt help you and unfortunately no one wins in these situations

First of all I am sorry that this process took longer than expected but we did approve you on 5/and we sent you eDocs on 5/but we did not receive until after 6/ Also a reason for the rate increase was due to your loan to value (the value of your vehicle in relation how much is owed)
being above 130%, so your rate increased and increase your payment slightly All through the process we never make any promises as to how quickly a deal gets done Also we recommend to customers to keep making payments and if there is an overage, it will go back to you once the loan is paid off I have requested for your title to be sent back to you I am sorry for the poor experience and wish we could earn your business We are saving you almost $2,over the life of the loan ($per month for months) As a show of good faith I will give you GAP insurance for $(retail price is $795) if you will continue with the deal If you dont have GAP insurance it is a good investment based on your high LTV.Let me know if you want to continue or not as I will hold the title for a few days

Complaint: ***
I am rejecting this response because:As I've told their representatives, I DID NOT apply for any financingI knew fully well what my plans were moving forward and had already moved towards the acquisition of a new homeFinancing or Refinancing a vehicle was NOT EVEN BEING CONSIDERED! When speaking with Open Road's Supervisor, he stated that they never had anything like this happen beforeFurther, that I must have applied, because nobody else would stand to gain from a refinance of a vehicleI would differ because 'they' or any lender would stand to gain from my vehicle' current finance being moved from the current providerI have asked that all related Open Road Lending and affiliate credit inquiries be removed from my credit report(s) without further delayIf this cannot be effected, I will be in contact with my legal team to discuss taking action as this could very well cost me tens of thousands and the loss of a home that I'd already entered into a $400k purchase contract.
Regards,
*** ***

Unfortunately we cannot calculate the loan to value until we get all your options (leather, wheel drive, stereo system, etc) and call your current lienholder to know how much exactly you oweUntil then we assume that we can make your deal work but its not final until we get those itemsThis isn't any different than a mortgage who has to do an appraisal to make sure the value of a house is within the loan to value guidelinesAgain I am sorry that we were unable to help you

Thank you for voicing a concern about our companyWhen you clicked through from the CreditKarma site, you actually completed a full credit application on the OpenRoad Lending site and then agreed to the terms and conditions stated on the application before submitting the application (those are
listed below for your convenience )Those terms and conditions give us permission to share your information with other lending institutions in an effort to find you the best terms possibleRegarding your approvalwe did approve you at a lower rate than you are currently paying (10.45% vs 13.50%) but since your loan is "paid ahead" and you are so far into your loan, the savings are not significant. Again, we do apologize that this was a poor experience for youI hope you give us another change to earn your business in the future. The OpenRoad Lending TeamBy clicking on the “Submit Application” button, the applicant and any co-applicant (each individually referred to as “I”, “me”, or “my”) agree to the following: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

Without any new information our original assessment still stands. There was a change in your credit profile from the time we received your credit and the time you applied. I am sorry we were unable to help at this time

I am sorry for your poor experience but when we reviewed your file we did appropriately tag it with the decline reason of "Account not paid Satisfactory or too New to Rate". Too new to rate is accurate as your auto account only opened up on April less than month from the refinance
application. However we did also tag the reason inappropriately as "Delinquent past and/or present obligations". Since we were partially wrong, I am sending the attached letters to the bureaus which we inquired at to have the inquiry removed. Again I am sorry for the miscommunication and hope in the future we can be of assistance

I am sorry but it appears that you applied on our website on 4/17/from the IP Address of *** which is from a San Antonio location. The application showed that you are trying to refinance a Kia Optima with about 15,miles at the time. If this wasnt you then
someone with lots of knowledge of your situation and who your current lienholder (USAA) was. If you still feel like this was fraud, you will need to report identify theft to your local police and obtain a police report. Once you get that you can send to *** *** at *** and we will have the inquiry removed. Otherwise with all of the validating evidence it is difficult for us see that it wasnt your valid request

Why was the TV (loan to value) not calculated at the time of the Quote?If it Truly is a factor then why do it after the fact? That in itself is unethical and unprofessional,This was a bait and switch and they need to Honor the Quote and take the Hit thenand learn to not give Quotes without including the Loan to Value calculation as it isthe determining factor to the actual rateThey need to change the way they are soliciting businessand Companies only learn by the walletThey have to Honor the Quote the solicited to me and change the way they do business

Mr*** - thank you again for your concernsThe CapitalOne account I am referring to does show on the Experian bureau which is the primary bureau we useThe reason for the decline is this accountYou are correct that it dates back years, however, CapOne still is reporting a balance and that the account is past dueWith this being the case, it will not pass our scoring modelsSince this is an oddity, I am willing to remove our inquiry if that will satisfy youIt is a 8-week process but I am willing to write the bureau a letter about this and ask them to remove it.Please let me know if that is satisfactory to you.The OpenRoad Lending Team

Again I am sorry but you are missing how a prequalifer works. 1) We identify you based on your credit ONLY that you are eligible to refinance. 2) We send you a mailer which says you are pre-qualified but there are certain exclusions (two of them are that your vehicle must be model years or newer and less than 100,miles). At this point you are still pre-qualified and we dont know your vehicle, nor have you applied and we havent pulled your credit. 3) You apply with your vehicle information (which was disclosed that we cannot approve your vehicle). By law we cannot tell anyone that they cannot apply, so we HAVE to take your application. 4) We decline you based on your vehicle, not because of your credit. IF you have another vehicle we can refinance it based on your credit, but we dont know the vehicle at the point the mailer is sent. The mailer has clear language which discloses the fact your vehicle does not qualify. Only once you apply do we have your vehicle and decline the application based on your vehicle. I am sorry you didnt read the mailer which disclosed your vehicle was ineligible. You were eligible however based on your credit

I am sorry that we were unable to help you but from a credit perspective you were prequalified. The reason you were declined was because your vehicle did not meet the requirements. If you look on back of the letter there is the following language which specifies that your vehicle must be
a or newer and less than 100,miles. From the letter:Credit is available for the refinancing of one loan on your credit report that is secured by a vehicle or light duty truck that is no more than seven model years old or newer, with a maximum mileage not exceeding 100,000. Again I am sorry we could not help at this time

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 reject this response because the letter did not specify that they would have to run my credit in order to determine whether or not I was qualified or notIt stated that I was pre qualified and that I could get my payments lowered as well as my interest rates loweredThe way the letter read didn't seem like I had to go through any process in order to get this deal

I am sorry for your experience

Complaint: ***
I am rejecting this response because when I called you before completing the application I was led to believe that in my case OpenRoad Lending was the only lender and had approved that rate, there would be no 3rd party lenders involved.I would never have moved forward otherwise
Regards,
*** ***

I do apologize that you had a poor experience with our companyWe are able to help hundreds of consumers each month succeed at lowering their car loan paymentsRegarding you complaint, you are not required to purchase anything in order to applyWe do however provide an opportunity for you to
purchase your credit report but it is not a requirementThis service is offered by a third party since we are not a reseller of credit reports but a lenderYou can contact them immediately and you will not be charged.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
Regards,
*** ***
Actually I have called experian and I have viewed my credit report as I monitor my credit report quite often and the accounts you listed publicly on the other website have been reviewed incorrectly by youThose dates you speak of represent a balance update and the balance is decreasing because I am paying on the accountDate opened June 30, Status Updated June Balance updated July and the other account has a Date opened June 2012, Status Updated June 2014, and Balance Updated July Again no changes to my credit report since you sent the letterRead the REPORT and understand what you are reading because these accounts have been therePer Experian Account Specialist and previous and current credit reports.Just erase the inquiry