OpenRoad Lending, LLC

Complaint: [redacted]
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 $21,000 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 [redacted] and [redacted] 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,
[redacted]

[redacted] - all we have to go by is the credit report we pulled when you applied. The two charged off accounts in question were reported to the credit bureau on 7/1/2016. Again if these are not accurate, contact the bureau and get it corrected.

Complaint: [redacted]
I am rejecting this response because: the response in not pertinent to the complaint. If the company is not able to address whether or not it can serve prospective customers before a credit pull then the complaint is valid and should be made public so that consumers will see it if they check the Revdex.com site before doing business with the lender. 
Regards,
[redacted]

First let me apologize about your experience with our company. I am sorry your was a poor one. The agent that spoke to you about the effects of multiple inquiries on your credit was accurate. You can see be clicking on this link what Experian, one of the major credit reporting agencies, says about...

multiple inquiries within a certain amount of time. Those are all viewed as one inquiry as you credit score goes. You can view their opinion here (http://www.experian.com/blogs/ask-experian/2009/03/01/impact-on-credit-scores-o...⇄ Regarding why we passed your application to third parties to begin with. You agreed to allow us to do so when you submitted your application. This is a completely automated process so when we reviewed and declined your application, it was sent to others right away. When you called the next day, we stopped your application from going anywhere else per your request. 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 needs. Some of these affiliates may offer or arrange dealer financing rather than a direct loan from a lender.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.Again, I am very sorry your experience was a poor one and I hope we can earn your business sometime in the future.Regards,The OpenRoad Lending TeamRevdex.comI'm responding to Open Road Lending. Don't respond to me with a lie. I said on your recorded line that I didn't want other companies running my credit. Your CSR should have said at that time that you all send information to multiple sources and not send my app through. When a customer voice a concern then you supposed to adhere to it and not ignore it. You all were negligent with my personal information. I received a letter from a company I've never heard of stating that they ran my credit and couldn't approve me and one of the things that affected my credit score was too many inquiries. So, don't tell me that it didn't affect my credit, when my credit was ran by several companies. You all have the recorded conversation where I said don't send my information to other companies. Don't respond back to me insulting my intelligence. This has put unnecessary stress on me b/c there are people who have my vital information and they have given it to other sources like Myautoloan.com has given it to Rate Genius and BlueHarbor and who knows what other companies. Now I'm having to watch and see what else comes through the mail from some unknown company that has my personal information and ran my credit or done something else with it. I'm going to have to watch my credit. Going back and forth with you and these other companies made me lose money b/c this is time consuming. I'm going lose even more money b/c I have to reach out to the credit bureaus and let them know those inquiries wasn't authorized b/c you all refuse to contact them and the other companies you negligently gave my information to, so that the credit bureaus can know I didn't authorize this and you all made a big mistake. This was egregious what you all did. You all have the nerve to send me another promotional letter in the mail again. I would never do business with you all. The apathetic way you all and your comrades go about doing business. This is wrong and bad business practices.

I am sorry you dont feel you can trust us.  We help thousands of customers save money each month on their vehicle loan.  Unfortunately I cannot remove the credit inquiry because you dont want to continue.  From the credit bureau's perspective it was a valid inquiry and we are required by them to only remove invalid inquiries such as fraud.  If you do want to continue we just need to get accurate income information to see if you can qualify.

Ms. [redacted] - Thank you for your comments regarding your experience with our company. Unfortunately in your case you could not prove the information you listed on your application which our credit decision was based on. You listed your gross monthly income at $2,600 per month but your paystub (and...

your employer) only verify $2,154 per month. That loss of income puts you outside our allowable guidelines regarding your debt to income ration (the amounts of your monthly payments divided by your income) as well as you payment to income ratio (your payment divided by your income). You were right on the threshold of qualifying when we originally approved you and with that loss of income, you no longer do.I am sorry you had a poor experience. Had you been able to provide proof of what you stated, we would have been able to assist you.Regards,The OpenRoad Lending Team

I am sorry that you don't remember completing an application for you and your co-applicant ([redacted]) on 10/22/2015 to refinance your 2009 Pontiac Vibe with 116,000 miles from an IP address of 71.77.194.181. You applied on our site at www.openroadlending.com/applyone/ where you agreed to the...

following terms and conditions.  You got to our site from Credit KarmaBy 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 needs. Some 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 applicationAgain I am sorry we were unable to help you at that time.

Ms. [redacted] - thank you for your email. I am sorry we were not able to assist you in refinancing your vehicle. It is not our practice to return any documents to you especially since most are copies. I would be willing to shred all documentation you provided as it relates to the two original...

documents you returned to us. Again, 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 verify. We will set into motion the destroying of the original paperwork you provided.Regards,The OpenRoad Lending Team

We are sorry for your poor experience.  When you applied with us this last time we did not have enough information about your collateral to calculate and accurate LTV (loan to value – the amount you owe vs the actual value). After seeing your complaint and doing some research, we see you...

applied previously and your collateral information was available on that application. Now that we have all of the information and a complete application, we are able to offer you a 60 month term at 3.39% - while not the 2.9% you were expecting, it is a lower rate than you have now. Unfortunately rates have been on a steady climb since the first of the year as I am sure you have seen in the media. Again, we are sorry for your poor experience and hope we can earn back your trust and your business in the future. If the above is of any interest, please let us know.

We weren't saying that you made up the information but it has been done in the past so we have to protect ourselves to make sure someone can make the payments.  You would be stunned what extent some people go to in order to forge IRS documents.  We have no way of knowing if they were ever filed or not.  It is very common for self employed persons to have to provide bank statements as a means for a loan.  In fact sometimes employed persons have to provide bank statements for a mortgage, so for us to require that kind of documentation is not uncommon for a loan.  We can only make money by lending it so I don't know what kind of scam this is because we want to get you a loan; however, we have certain requirements for loans to protect us and you to make sure you can make the payments.   Some lenders are willing to 'waive' certain requirements in exchange for a much higher interest rate. For this particular loan we need to see bank statements.
I am sorry you are frustrated by the situation but we have to follow our rules for making loans to self employed persons.

Complaint: [redacted]
I am rejecting this response because: Any business associated with the Revdex.com and displays the Revdex.com logo knows that the logo is a link to information on the Revdex.com website about the company. The Revdex.com logo on this companies website show up as just a .gif and does not link to the Revdex.com at all. Also when researching information for this Company on the Austin & Fort Worth Revdex.com Website there was no listing for this company, and no record that the company belonged to the Revdex.com. If the company does have a listing with the Revdex.com send me the link and I will stop my complaint, but everything I have looked at on [redacted] does not link this company with the Revdex.com and therefore is false advertising. 
Regards,
[redacted]

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to 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,
[redacted]
This complaint is not about me not liking the outcome. I initially was interested and began to start the process. I DID NOT submit the application by choosing the 'submit' option. As I was choosing to close out of the window I got the prompt that it was submitted. I am not sure how your website is programmed that even allowed this. I am offended in the accusation that the complaint is based on me not being satisfied with the result, which is highly untrue. I did not have intention on submitting the application. I did not authorize the transaction. This violates the Fair Credit Reporting Act Section 1681 (c).

I am rejecting this response because:[redacted] distinctively told me that he has worked for your company for 6 years and this buffer policy was only in use for part of his time there.  I have contacted my state dealer association and that is not common practice.  I contacted a bank, a credit union and a auto finance company and it isn't something they do either. Both you and I collect funds to payoff vehicle accounts to obtain title so we aren't necessarily apples to oranges.  [redacted] also distinctly told me that he was SHOCKED that the interest rate was higher because of $430.00  The adjusted value of the vehicle with the options and the CORRECT miles is $10,858 and over $12,00 for retail. Another huge issue I have is the fact that this is the only way I get any response form anyone at Openroad. I left 2 messages and sent emails to both the the person handling the contract and the comment email address.  I was not rude or mean for a single second when [redacted] was trying his best to explain.  Honestly, as nice as he was I am sure he was frustrated with the basic generic answers he had to offer.   It's not the 1% or the $200 that I have the issue over its the fact that no one bothered to tell me prior and no one responded after I questioned it when receiving the paperwork. It is also an issue that there is no written documentation showing the remaining balance of the $200 will be returned.  Of course I would love to save thousands of dollars and I would love to refinance with a lower payment but I am sure you can understand my concerns.

Thank you for sharing your concerns. The information you are stating is not accurate. We do offer new and used purchase loans along with our refinance loans, however, in WA, we only offer refinancing. There are laws in the state of Washington that makes it difficult to do loans other than...

direct to the consumer (like refinancing). When a dealer is brought into the loop, the lender rules change and it makes it difficult to conduct those types of loans in your state. If you are trying to remove someone from the existing loan and refinance it in your name only, that is not allowed in WA either. To refinance in that state, there can be no change to the way the vehicle is currently registered in the state. I am sorry for the inconvenience this may have caused and hope we can earn your business in the future. Regards,The OpenRoad Lending Team

Thank you for sharing your concerns about your experience with our company. In reviewing your file, it appears that the note and security agreement you signed and returned to us did not have GAP on it (attached for your review). According to the notes in the file, you were offered GAP but chose not...

to take it and opted in for a lower payment. Your complaint talks about life insurance as well but we do not offer that product at all so I not completely sure what you are referring to there. Unfortunately, based on the above, we don't have any options to assist you. I am sorry for the confusion but all we can do is book the loan based on the documentation you provide. Regards,The OpenRoad Lending Team

I understand credit utilization and DTI's as we've established in prior dialog. I also understand how the credit bureaus view inquiries. The point now is that there were future inquiries AFTER I was denied by Open Road Lending. What's the point in that? I received my denial notification from your associate on April 16th and I subsequently have six additional inquiries from the April 17th through April 19th. Why? If Open Road as a whole couldn't aid in the refinancing process and an official message was sent, why waste the time of adding that many inquiries? That seems backwards and rather asinine. Seven different companies, 14 total inquiries from March 9th to April 19th. I also don't understand why there are multiple inquiries with the same company on different dates and weeks apart. If the companies weren't able to approve the loan before the oversight of my child support obligation, why add multiple inquiries from the same company that denied the application earlier after the proper DTI was noticed? This makes no since at all. Can you explain that? We can continue this conversation in this forum, but I'd rather get someone to actually speak with me. At any rate, you're actually taking the time to respond on this medium, so we'll use it until its resolved. Thank you.

Upon review of the file and calls we are requesting that Equifax remove our inquiry from 2/19/18 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 6-8 for the credit bureaus to process...

the attached letter.  The letter will be mailed today.

Thank you for sending in your concerns. I 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 application. That is the reason the application went from approved to declined because with that change...

in income, you no longer qualified. That 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 loan. This will allow us to split the rent payment and should be able to budget you then to qualify. please 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

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID 11587968, and have determined that this does not resolve my dispute.  The back of the letter did not address the matter as stated in the response; otherwise, I would have done the math and not filed the application with this company.  The customer service agent also failed to address this fact when asked directly about that very issue.  I could have easily made a lump sum payment on the vehicle to bring the cost to value of the vehicle within the 125% range previous to applying, had this been brought to my attention.  The company provided misleading and false information in the advertisement as well as when directly asked about the problem as stated in the complaint.
Regards,
[redacted]