Umpqua Holdings Corporation Consumer Loan Complaint

Umpqua Holdings Corporation Consumer Loan department,

Vehicle loan Taking out the loan or lease California

I purchased a commercial vehicle in -/-/2016 from - ( - ) and was informed that the product was a loan and that there were no penalty to payoff the loan. I later learned that - was not the loan holder and that company was Financial Pacific Leasing. I also learned it was not a loan as explained by - and that it was a lease agreement. This information was all learned after I gave them a down payment of $17000.00 on $65000.00. I was under the impression via multiple converstations from the - that my payoff balance $55000.00. The company intentionally misrepresented this information to lure me into a loan of which I had many other options to pursue because of my down payment amount and cash I had on hand. I never intended on obtaining a lease agreement of any sort and did not learn about the agreement until loans were already processed and finalized. I called in -/-/- to get the payoff amount for the loan I was advised it is $110000.00 which was a shock and no where near the $55000.00 balance payoff I was advised of.