Getting a loan or lease

I applied for XXXX loans with Penfed CU since y ou have to select a vehicle for low risk loans. After getting my done with XXXX XXXX I took the bank draft from Penfed for $ XXXX and purchased the car on XXXX XXXX , 2017 . After purchasing the vehicle, XXXX tried to deposit draft. The draft was returned unpaid. For some reason that loan was cancelled. But the loan that was supposed to be cancelled was not. After letting Penfed know the situation and the delaer contacting me. Penfed refused to issue a new check or change the loan. The approval was for $ XXXX for 72 months at 4.50 %. They requested I do another loan in the system and request the same amount. The loan came back with an new approval of only $ XXXX . After talking to and asking Penfed to please just make loan same as original they refused. The vehicle was picked up last night from my home. Since I work weekends. I now do n’t have a vehicle and will have to quit my job since it is XXXX miles away. Because I traded in my vehicle so after a month I have nothing. Penfed gave me a loan and charged me XXXX times {$15.00} for overnight service. Why did n’t they honor the check? Why would n’t they just fix something I did n’t do they done. They knew I had vehicle because dealer contacted them 10 times to fix error and Penfed ref used. I had $ XXXX equity in my trade and how I ‘m I supposed to get that month back and how soon? How do I look for another job after quitting a $ XXXX A YEAR JOB. How do I pay my bills and help my elderly parents get around? I think Penfed should honor our agreement just like I honored my country with my military service. This is just not right. Now Penfed wants me to take a loan for only $ XXXX but not my rate is 5.5 % for 72 months. That ‘s just not right. Penfed stated that I had XXXX loans or loan applications but can only proved XXXX actual loans. Penfed refused to issue a new draft after several attempts by XXXX XXXX and myself the consumer contacted them. At not time did PENFED contact me on phone with any concerns about deal. Nor did they refund any of the overnight draft fees that were taken out my checking account for the loans to be processed. Under my conversation with the loan department when first doing loan. I was told since I was high risk my loan had to be for a certain priced vehicle. That I could not just get a loan approval and check and shop as I wanted. so that is why I went ahead and requested an approval on a couple of vehicles until I could secure a deal that was best for me. If I had of know that my loan for the vehicle that was purchased at XXXX XXXX was going to get declined I would have never traded my vehicle. I went from driving a 2017 XXXX XXXX XXXX XXXX $ XXXX to a 2017 XXXX XXXX for $ XXXX , due to PENFED. When I spoke to them after dealer called all they had to do was reissue a check for XXXX and they refused to. But they went ahead made me do another application for the same vehicle but would only approve the loan for $ XXXX for 72 months at XXXX , unlike the original loan for $ XXXX for 72 month a t 4.5 apr . My XXXX loans disbursed and cancelled at {$15.00} each is {$120.00} I should be refunded. I have turned my case over to an attorney, the XXXX XXXX XXXX XXXX and th e Veterans Administration. PENFED also posted XXXX of the accounts on my credit reports. So when I tried to purchase a car form the dealer my debt to income ration was messed up. They have since marked them as paid in full. That should be against the law to post something to your credit report and not remove it. Or post to your report before verifying it is a valid account. That alone caused me major hardship. Company ‘s Response on XXXX / XXXX / XXXX Dear XXXX XXXX , This letter is in response to your complaint filed with the Consumer Financial Protection Bureau ( CFPB ). It was forwarded to Pentagon Federal Credit Un ion ( PenFed ) on XXXX XXXX , 2017 . We will provide a copy of this response to the CFPB. There seems to have been quite a bit of indecision on your recent vehicle purchase. In reviewing the XXXX XXXX XXXX applications you submitted and the XXXX disbursed and cancelled loans between XXXX XXXX , 2017 and XXXX XXXX , 2017 , we noted you changed loan amounts, dealerships, and vehicles. In our discussions with XXXX XXXX , they indicated there were several factors contributing to their repossession of the 2017 XXXX . I see you settled on the purchase of a XXXX XXXX , and we provided you with a {$32000.00} loan wi th a 72-month te rm at 5.50 %. The terms of a loan are determined at the time of disbursal and are based on your application and credit information at that time. We hope you are pleased with your new vehicle, and the terms of your new loan. Sincerely, XXXX XXXX XXXX XXXX XXXX , XXXX

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