USAA Savings Consumer Loan Complaint

USAA Savings Consumer loan department,

Vehicle loan Taking out the loan or lease Colorado

On - - 2015, we applied for an auto loan with USAA ... which was immediately approved. Intent was to be pre-approved before looking for a new car. USAA gave us - days to execute the loan, offer ending on - - 2015. Two weeks later, on - - 2015, we found and purchased a vehicle using the USAA pre-approval check provided. The following week on - - 2015, USAA sent us an addendum to the loan documents showing the loan start date of - - 2015 ... the original pre-approval date, not the actual purchase date of - - 2015. We contacted USAA and spoke to a Customer Service Representative ( CSR ), who researched the sale and spoke to a supervisor. The CSR informed us that though the Loan date would be shown as - -, interest would not start until the sale date of - - 2015. We then sent a written request via email requesting that this information be provided in writing. We received a email reply the following day - - 2015, from - - at USAA. She stated that the information provided was incorrect, and that we were in fact being charged interest on the auto loan effective the approval date of - - 2015. We requested that USAA review the legality of this practice, and answer we received was that this is the way we always do it. We realize that this is a minimal financial issue per loan. By my calculation, it cost us approximately $25.00 in this transaction. However, if this is a legal and allowed practice, then this is being done to a lot of unsuspecting consumers. In searching the loan documents, there is no disclosure indicating that this is a condition. I ca n't imagine having been charged interest on my mortgage approval pending the completion of the house, nor being charged interest on my credit cards based on the limit instead of the balance. So, is this legal? To start charging interest on a loan as soon as it is approved, not when it 's actually used?