JPMorgan Chase Consumer Loan Complaint

JPMorgan Chase Consumer Loan department,

Vehicle loan Shopping for a loan or lease Shopping for a loan or lease Florida

On - -, 2015, I purchased a - Range Rover LR4, from - - - - for $56000.00, which is the fair market value for a similar car without any defects. The dealer is located at - - - - - - -, - -. The dealer assisted me with completing a financing application for a loan with JP Morgan Chase Bank, - - -, - - -, -. The financed amount is $45000.00. After I left the dealership, I was advised by my insurance company that my LR4 was a branded manufacturer 's buy back car, commonly known as a LEMON and worth substantially less than the amount owed on the loan with Chase. The fact that the car is a lemon was not disclosed to me by the dealer or Chase. Had I known the car was a lemon, I would have not bought the car. I later learned that the law requires that there has to be a consumer disclosure given to me before I agree to buy the car that declares the car is a branded lemon. When I asked for my paperwork from the dealer 's finance office, I was


by me. The actual - Application for Title form completed by the dealer, and signed by me, that was also sent to Chase, specifically omits that the LR4 was a manufacturer 's buy back car, ( lemon ). The box on that form that discloses the car is a lemon is not checked. I notified the dealer and Chase about the misrepresentation and fraud. Since I was ignored, I hired a lawyer to try and rescind the transaction or recover the difference in the value of a lemon law car and a normal car. The dealer denies any wrongdoing and Chase claims its paperwork is in order because it has the forged disclosure form in its records. I am still forced to pay Chase the full amount of the loan even though the car is worth at least $20000.00 less than I owe.