Pentagon FCU Consumer Loan Complaint

Vehicle loan Taking out the loan or lease

Pentagon FCU Consumer Loan department,

Vehicle loan Taking out the loan or lease Texas

I applied and was approved for a $40000.00 vehicle loan and PenFed completely mishandled my account to the point of my suspecting intentional manipulation. Pentagon had my $40000.00 loan approved for application # -. I corresponded with one of PenFed 's agents on the phone and he informed me that all I needed to do was submit my purchase order via fax and my loan for $40000.00 would be approved. I thought the extra $700.00 was odd, but I suspected it had to do with filing fees, etc. It turns out that they denied my loan the next day because the original loan amount was $40000.00 and I increased the amount by $700.00. This was ridiculous for - - - denying my loan for the additional $700.00 on a total initial loan amount of $40000.00 is absurd 2. A PENFED AGENT recommended the new loan amount and thus intentionally manipulated the situation into a denial. The other agents-Dylan ID # - and - ID # - were completely incompetent while handling my situation. I now do not have the financing I need to purchase my vehicle and may lose the deposit.

Pentagon FCU customer in Texas
Aug 19, 2016

* Source: CFPB Complaint Database

Pentagon FCU response to complaint:
Closed with explanation

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