Fifth Third Bank Complaint

Fifth Third Bank Consumer Loan department,

Vehicle loan Managing the loan or lease Alabama

I live in the state of - and on -/-/-, I purchased a used - Toyota Scion for my - year old son who lives in the state of -. I purchased this vehicle from - - - located in - -. I advised the salesperson that I was purchasing this car for my son who lives in -. Prior to signing the paperwork, I inquired what was the most efficient way to add my son to the title so he would be able to register the car in - when I delivered the car to him. The salesperson advised me that I would just need to call the bank that financed the loan to have him added to the title. This sounded logical to me as that is exactly what I did while living in - when I purchased a car for my daughter who also resides in -. I just called the - - who financed that loan and for a small fee they added her to the title and she was able to register the car in her name in -. With that said, I purchased the car.

for my son who lives in - and inquired what I needed to do to add him to the title. He advised me that once I got the car to - that I just needed to call back and let them know the location of the vehicle and give them my sons information and they would be able to add him to the title. So now I have both the car dealership and the Bank advising me that there would be no issue with adding my son to the title. Equipped with this information, on -/-/-, I drove the car I purchased for my son from - to - and presented the car to my son so he would have transportation to his part time job and for college when he starts in -/-/-. On -, I called Fifth Third Bank to start the process of adding my son to the title. At this time, the agent advised me that is against - - policy to add anyone to the title. I was told that the only way Fifth Third Bank would add anyone is if they were a signor on the loan. I advised this person that I needed to speak to a supervisor. The supervisor advised me the same thing. I then requested to speak to a Manager and was told the same thing. On -/-/-, I filed a formal complaint with 5th 3rd claiming that I was deceived into obtaining this loan and now they were not willing to follow through on what they told me before finalizing the loan. If they told me on - -, that it was against their policy to add a non signor to the title, I would have told them to NOT process the loan and I would 've drove the car back to the dealership and had them find a financial institution that would allow me to add my son to the title without being a signor. I have a - FICO score so I was NOT dependent on 5th 3rd Bank financing this loan. I was in a position where I could have shopped around for a loan that fitted my needs. On - I called 5th 3rd back as no one called me back about the complaint. I was advised that my complaint had not been assigned to anyone at that point. I finally received a call back on -/-/- advising me that there was nothing I could do as 5th 3rd was enforcing their policy. So now I am stuck with an $11000.00 loan and a car that my son can drive. I feel that this is a blatant UDAP violation!