JPMorgan Chase Consumer Loan Complaint

JPMorgan Chase Consumer loan department,

Vehicle loan Managing the loan or lease Michigan

I bought a used car from a private party, giving him $3900.00 in cash ( no checks involved ) for payment in full on Tuesday -. I got my cash from - - -. They had approved a used car loan at 2.5 %, but because the seller had a lien on the car with JP MORGAN CHASE BANK NA, - - -, - -, T-., I had tp take out a personal loan at 9.25 % until I got a clear title. Then they would convert the personal loan to the 2.5 % used car loan. The seller and I went to the local Chase Bank branch on the same day. We had the managercompute to the penny how much the seller had to give in order for the lien to be paid off. He then gave the bank, in all cash, that amount. I fully expected the bank to sign and date the title to release the first lien. But no. Chase explained that that had to be done in the back room '' and they would send to ME a letter stating that the loan has been paid in full. I protested, but was told that was the way it was going to happen. The end result is ; I took out a loan 9.25 % to buy a used car that I can not convert to a 2.5 % loan, because I can not transfer the title to my name until I wait for a snailmail that takes - weeks. Further, I can not - - the car that I bought until I get the waiver in the mail. Further, the Michigan - charges a $15.00 late fee if I don ; t make the transfer in - days or less.