During my car title loan they registered my Car incorrectly and are now having me pay to remedy the situation / Signed contract under duress
I got a Car Title loan with them out of desperation - and they re-registered my car to CA incorrectly.
They also paid the DMV hundreds of dollars in excess through my loan which I am paying interest on but cannot get back. Montana Capitol told me the DMV would give me a breakdown of costs and refund any extra monies paid - this was false. The money is gone even if it was extra funds, and it is $110 dollars to fix my registration, which Montana Capitol is refusing to pay.
They also had me sign my contract in duress - they installed lo-jack on my car then had me wait in the office for 4 hours for their internet. I missed the opportunity to get a loan anywhere else that business day and had to sign as I needed money same day.
This company is full of scams - and their car title loan rates are confusingly high
I want my loan cancelled and my lo jack removed - I will payback my principle but I want my interest and all Car Registration fees subtracted from this total
Our company is a Finance Lender licensed by the CA DOB. Our title loans are for emergency situations only and we always advise our customers both in writing and verbally regarding our high interest loans. We also recommend that the customer should exhaust all other potential forms of financing before taking a car title loan from us. As this is a high interest loan, most of our customer payoff the loan in a matter of few months, and we do not charge any prepaid penalties.
Regarding Mr. ****'s claims:
1) On the day that Mr. **** came to our office for his loan, we had severe internet and phone problems, due to those problems the process lasted more time than usual; in addition we had to register Mr. ****' vehicle in CA due to the fact that he had an out-of state plate & the CA DMV requires that all title loans in CA must be applied to vehicles registered in CA. This registration process by itself is time consuming process thus the overall time spent in our office had increased.
We asked Mr. **** a few times if he would rather come back the next day to complete the process but he said that it's fine and he would prefer to get the loan on the same day no matter how long it takes.
2) The registration process with the DMV: as mentioned above, Mr. ****'s vehicle was not registered in CA; we had explained to Mr. **** the necessity of registering the vehicle in CA as a part of obtaining a title loan and he agreed. All fees that are deducted during any registration process are paid directly to the CA DMV. The amount and type of fees are determined explicitly by the DMV and they are based also on the information that the client provides in writing. Once Mr. **** called us to inquire about the fees, we printed the breakdown of fees and sent it to him via email. We advised him to double check those fees with the DMV, due to the fact that the DMV is the authority which determines the amount of fees. Therefore in case of a mistake they can issue a credit.
3) Signing the contract in duress: Mr. **** had been provided with a full explanation of the whole loan process including the registration by our loan officer. The explanation was both in writing and verbal and we verified that Mr. **** understand all the aspects and terms of his loan contract. As mentioned above, we asked Mr. ****'s permission to continue with the process and pointed out that it will take longer than usual. Thus he was fully aware to the fact that he will spend more time in the office.
Mr. **** called our office around the beginning of July with his complaints; we explained all of the above to him, and advised him to double check with the DMV regarding the issue with the fees. Mr. **** paid-off his loan on July 3, 2014 in our office.
(The consumer indicated he/she DID NOT accept the response from the business.)
1) They assured me the internet difficulties would be right back up - they did not suggest I go somewhere else until about 2.5 hours into the ordeal AFTER the tracker had been put on my car. The man that installed the tracker had left, so I was told it would probably be just as long for him to come back and take it off as to just wait out the internet problems. Also - their phones were working, the whole time I was waiting they were taking sales calls on two different lines and in contact with the man that came and installed the tracker on my car.
2) I took the printed sheet of fees to the DMV and they are the ones that told me I over paid for registration. There is incorrect information about my car on this sheet as well, which contributed to the extra fees (wrong year of car, purchase year). This extra money is gone due to Montana Capitol's negligence - it was my money they were spending at the DMV, so they did not care to take the time to double check that they were not overpaying.
3) Duress was a poor choice of words - I should have said high pressure sales tactics. Like I mentioned, they did not advise me to go somewhere else like they stated until 4:30 or 5pm and they knew I needed check same day. They also already had the tracker on my car so they would not let me leave when I did mention wanting to leave and go somewhere else. Anytime I mentioned trying to leave they assured me they could get me finished quickly.
I did double check with the DMV, twice. Once before I got the printout from them because I had to go change the typos Montana Capitol put in my registration, and again after they sent me their price breakdown. The second trip just reaffirmed the first - their negligence was the cause for all my extra fees, and for the $110 to re-register my vehicle to my correct address.
Final Business Response
1) As we mentioned before, on that day we had severe Internet and phone problems, which is what caused the delay in processing the loan. Due to the fact that we did not have internet connection, we could not communicate with the DMV system nor verify additional on-line data which is part of the funding process; those severe problems were solved only one day after Mr. ****'s visit to our office. In regard to the tracker installation - we have never told Mr. **** that we are unable to remove the device, nor told him that it would take time. We have had cases in the past in which a client decided not to take a loan or he/she could not wait long in the office and we called back the installer and had him remove the device. We had advised Mr. **** to do the same more than once, but he kept telling us "that's fine I do need the money today therefore I can wait"
2) As mentioned before, processing a DMV registration is based only upon the information that the client provides in writing, by filling out a DMV form. Based upon Mr. ****'s data we had process his registration. It might be possible that Mr. **** had not understand all of the DMV questions and provided incorrect information or he might had done a typo error which we copied, but the final amount paid to the DMV was calculated by the DMV system and we have no way of overwriting their decision.
3) We fund thousands of loans each year, and we never use any "pressure sale tactics" - there is no need for us to push an applicant to take a loan and later on have him/her not be satisfied. Should we have used any "pressure tactic" we wouldn't have asked Mr. **** a couple of times if he rather prefer canceling the process and returning on another day..
Mr. **** has paid-off his loan and the tracker has been removed from his vehicle; at the time of the payoff process Mr. **** was polite and he had not mentioned any dissatisfaction or other complain regarding the service provided.
We do not think that going back and forth with accusations and counter replies would benefit any of the parties. We actually wonder what it is that Mr. **** wants; if his concern is regarding the excess fees that he claims that were collected by the DMV, we would be happy to try and settle it with him in our office