Wells Fargo & Company Consumer Loan Complaint

Vehicle loan Taking out the loan or lease

Wells Fargo & Company Consumer Loan department,

Vehicle loan Taking out the loan or lease Missouri

In - of - I bought a new car -A - - - - The original cost of the car was $19000.00 of which it would make a loan of 3.99 % for 60 months or payments of $360.00 Unfortunately, I was trapped into buying additional power train insurance - The insurance was sold as an additional $100.00 a month instead of financing an additional $2700.00 and - at $3700.00 making the loan $26000.00 - When I realized that the loan now was $26000.00 Instead of $19000.00 I complained the dealership - I was able to recover some of the money that I paid for the additional insurance - ( see detail payment loan payments ) My loan was not adjusted to the original 3.99 % interest for $19000.00 @ 60 months or a payment of $360.00. I have continued to pay the loan at the higher amount of $490.00 a month as if the loan was $ - I have been paying the higher amount for the last 2 1/2 years - I requested to Wells Fargo to adjust my loan to the original amount and adjust the payment as $120.00 Extra as additional loan payment towards the principal and adjust the remaining of the loan accordingly to the lower loan payment. Please see attached additional information - - -

Wells Fargo & Company customer in Missouri
Aug 14, 2016

* Source: CFPB Complaint Database

Wells Fargo & Company response to complaint:
Closed with explanation

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