Consumer Portfolio Services Consumer Loan Complaint

Consumer Portfolio Services Consumer Loan department,

Vehicle loan Shopping for a loan or lease Ohio

A sub-prime loan company has denied me a loan, after they approved me for a previous car loan a few days earlier.engi was in bad condition, the true price of the car was not reveled to me until the following days, I was told to come back to the dealership to complete more paperwork. Once I saw the true price and the APR I wanted to return the vehicle, because I was sham into a deal, after asking for significant information, that was not given before I considered the deal to be final. I requested a cheaper car in a lot better condition with less miles, the dealership continued to blind me of significant information and cost to trick me into the same deal. But I did my research and knew exactly what I wanted and the price and blue book value of the car. The dealer and their finance department questioned me and still tried to get me to purchase a high priced vehicle, I denied for a 3rd time and said this is what I want and can afford. The dealership contacted the bank that approved me before and confirmed to me that they denied me the loan


misguide the buyer into buying a car that is not what that customer wants and keeping information from the customer, like the bank approving the loan, who controls the APR, what is the amount the dealership added to amount of purchase, these go unanswered and hidden by dealers askew the perception of what the customer is getting themselves into. I know that the banks/sub-prime lenders are in cahoots with dealerships ( who are actually a monopolistic system ) and are using their loan power to limit the options to the customer, and overprice cars by using increasing APR methods and keeping you from contacting the lender. I believe an investigation is well overdue for car dealerships and their practices of using persuasion in a manner to basically - someone into a unwanted deal without revealing the most important financial details in a contract. Also a study and investigation should and needs to be conducted on credit acceptance determining APR/interest rates, I believe the dealer targets particular people to give high interest rates to, and not really considering credit scores to define rates. These problems that I have experienced are involved with me dealing with - - car dealerships and CPS Lender ( Consumer Portfolio Services ). I can be contacted at - - for more information, its time that the oligopilization of car dealerships came to an end and consumers have the right to buy directly from a manufacturer.