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Report: #1287916

Complaint Review: CIG Financial - Irvine California

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  • Updated:
  • Reported By: GILBERT — Palmdale California USA
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  • CIG Financial 6 Executive Cir. #100 Irvine, California USA

CIG Financial approved me for an old vehicle that broke down 1 month later and did nothing about it loan was over $15,000 Irvine California

*Consumer Comment: Don't Blame the Lender

*Consumer Comment: Er... still not seeing how this is the lender's fault

*Author of original report: LENDERS FAULT:

*Consumer Comment: OK... how is this the lender's fault?

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 CIG Financial approved me for a loan for over $15,000. $10,669.50 is the amount financed + $5,098.56 is ther finance charge. I desperately needed and still need a vehicle. So i signed so i may have a means of transportation. My actual complain is that the vehicle began to fall appart. Approx 40 days after I had vehicle it totally broke down and I was on the freeway shoulder. Prior to this I was letting the dealer know what was going on as well as CIG Financial. Truck had been stalling, passenger window just fell all the way down inside of door, i had a couple of flat tires already and when i got first flat i went to go change it but there was no jack. The handle on the driver side door just yanked completely off when i tried to close the door. The list goes on and on. I am emailing and texting the dealer and CIG Financial with everything that is going on. I even made a list of all things that were happening and emailed and texted to dealer and CIG Financial. Expired tags, broken mirror, bald tires, dashboard read airbags didnt't work. Just a nightmare up until it got worse! Truck finally broke down on side of freeway. I contacted CIG Financial and "really complained" so they got a hold of the dealer... dealer towed truck back to his lot to "fix it" is what CIG Financial told me. Dealer gave me a loaner, and old beat ip car with torn seats, just ugly. It was fine with me because they we going to fix the truck. So about 3 weeks go by and im wondering why itnis taking so long and when i ask they tell menit is not ready yet. So Im thinking that is great because they must be fixing everything that is on the list. I made a "check off list" of all that needed to be fixed on vehicle. Both dealer and CIG Financial have that list, inactually sent it numerous times. I get a phone call from dealer telling me truck is ready. I pull in the lot he takes keys to the loaner and backs my truck out to the driveway. Im happy at first appearance because the truck is running again. I see the tags were updated and he fixed the broken mirror. That was all he did! I dont know how he got it to turn on but once i get in and begin to drive off... Truck was the same if not worse off. Wanted to stall and was highly reving and would not shift gears till after 5500 to 6000 rpms. Window was still not working and i just noticed he did nothing at all to fix it, he just got it to turn on and gave it back to me. I let CIG Financial what was going on and I hear nothing back. Truck totally broke down again after about 10 days or so of stalling all the time. Parked in my garage. CIG Financial did nothing for me. They told me they could not do nothingnfor me. I said if you had not financed me a vehicle that doesn't work we would not be in this mess, but you did. On and on back and forth for a while. All i was asking for was to either get it fixed, get meninto another vehicle of either equal or lesser value but that actually works or take this one back but dont put against my credit so that i may go somewhere else and try and get a vehicle. Did not work with me at all, quite the contrary. The harassment begins about them wanting their payment. So i in turn also ask about what they are doing about my situation. All my losses due to the loan of a deceiving product. It looks like a truck, it smells like a truck, it feels like a truck but when i try to use it I CANT. They did not want to hear nothing but when when were they going to receive a payment. Now im desperate and already got fired because incohld not make it to work. I had numerous friends look at truck and try to get it running again after byuing part after part after part but i had no luck. CIG Financial was not doing anything to help but the harassment back and forth continued. Meanwhile i lost on a couple other opportinities for jobs because i still have no meansnof transportation. I asked them how is it that the simple daily tasks get done? Shopping, school, work, football practice, pay bills, go tobthe park, visit family, visit friends... All they want is their payment. I had to and still am askingnfor favor after favor after favor, ride here, ride there. It is very frustrating and annoying. I DID NOT PUT MYSELF IN THIS SITUATION. So now they have reposessed the vehicle because I took it out of the garage. They have the truck back. They got what ever money they got out of me and are goingnto get the next person whom they financethat vehicle to. They lost nothing, dealer lost nothing. Now what about me? Why did they leave me in this situation. Now that repo on my credit, all that I lost, all that im losing and all that i will continue to lose because CIG Financial approved the loan for somethingn that wasn't and did not nothing to even try and correct it. I have a lot of text messages saved as well as emails. They did this to me and it put me and my family in a hard and stressful situation. As if times are not hard enough already they just put cherry on top. If there is anybody out there that can help me. Or even ill get through this somehow but something needsnto be done about CIG Financial and serve them the same platter they served to me. Phew. I got something off my chest. ANYBODY PLEASE HELP! Thank You!

This report was posted on Ripoff Report on 02/16/2016 12:41 AM and is a permanent record located here: https://www.ripoffreport.com/reports/cig-financial/irvine-california-92614/cig-financial-approved-me-for-an-old-vehicle-that-broke-down-1-month-later-and-did-nothin-1287916. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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REBUTTALS & REPLIES:
1Author
3Consumer
0Employee/Owner

#4 Consumer Comment

Don't Blame the Lender

AUTHOR: coast - (USA)

POSTED: Thursday, February 18, 2016

Did the vehicle purchase include a warranty or was this an as-is purchase? The broken mirror and bald tires would not be covered under any warranty agreement. You should have seen those two items during the test-drive and pre-purchase inspection.

“CIG Financial did nothing for me.”

The finance company did their job… They financed the vehicle. They have no further responsibilities unless there are additional terms to the agreement. Specifically, what terms of the agreement did the lender fail to honor?

“So now they have reposessed the vehicle because I took it out of the garage”

That statement makes no sense. The vehicle was repossessed due to your failure to honor the terms of the loan agreement. That will remain on your credit report for 7-10 years. The rate increase on your next car loan may exceed the cost of fixing the repossessed vehicle.

You could have paid a mechanic about $150 to perform a pre-purchase inspection of the vehicle. That’s a mere 1% of the $15K you borrowed.

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#3 Consumer Comment

Er... still not seeing how this is the lender's fault

AUTHOR: Ieatsaltytears - (USA)

POSTED: Thursday, February 18, 2016

O.K.. so the lender received information on the vehicle that was disclosed to them by the seller. Did the seller disclose the vehicle's current condition properly? If there was any mis-representation it would be a liability on the seller's end not the lender. They can only go according to the paperwork and disclosures they are given by the SELLER. Did the vehicle run when you "drove" it off the lot? If you did, you purchased a "motorized vehicle" didn't you? They gave you the loan based on the current disclosed condition of the vehicle, not on the premise that the vehicle would run forever and never have any problems or break down.

You have so far provided ZERO evidence of lender liability here. In fact they may even have grounds against you for libel at this point since it does not seem they did anything wrong, yet they are being blamed for your own lack of common sense in getting the vehicle properly inspected?

I'm not sure why you even posted those paperwork scans, they cannot be read they are too small and serve absolutely no purpose... well besides maybe trying to re-enforce your incorrect thoughts that you are somehow not liable for your own responsibilities?

So.. did you read any of the paperwork you signed? I'm guessing not. Does the lender make any promises as to them being liable for any problems or breakdowns that arrive? I don't know any lender that would. I would love to read that signed agreement. Their job is to give you a loan that is appropriate based on the value of that vehicle and for you to repay that loan. Since you did not repay it they have the right to reposses. This seems like a very simple open and shut case with no issue here but your own personal issues.

What are they supposed to "correct" and what are you insinuating they did "wrong"? Did the bank sell you the vehicle and promise a warranty on it? No. Is the bank obligated to provide you with a replacement vehicle of equal or lesser value? No. Unless you purchased a bumper to bumper warranty from them, they don't owe you a d**n thing.

I just think it's sad when people are both misinformed and feel they need to blameshift because they do not want to take any responsibility for their own actions. I really hope you do your due diligence next time and read all paperwork, including liability statements and get a vehicle inspection and a warranty if you can afford one.. that way if something does do wrong at least you will have some sort of coverage and the possibily the right to blame someone other than yourself.

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#2 Author of original report

LENDERS FAULT:

AUTHOR: - ()

POSTED: Wednesday, February 17, 2016

 It is the Lenders fault because obviously the spoke to dealer before they approved me. So obviously all is disclosed and all infomation about vehicle is shared. CIG Financial went ahead and aoproved the loan for this vehicle being in the condition which it was in. To my knowledgeI purchased a truck. CIG Financial loaned for a truck. To my knowledge a truck is a motorized vehicle. Anybody that purchases a motorized vehicle, the vehicle is operable (hence purchasing the motorized vehicle).

Well, where is my operating vehicle. There isn't one. Why would i purchase such an item? I was deceived. That was my only means of transportation so I expect the item I bought to do what it is supposed to do. The lender approved. Put me in debt. Which is fine because that is the way it is supposed to be. But CIG Financial approved and put me in debt for something that wasn't so. I was misled and deceived. I even was willing to let it all go. I just wanted them to give me what i thought i purchased.

All they had to do was correct what they did wrong. I asked for them to fix it. That would have been fine because then I would have what i thought i bought. I asked to be placed into another vehicle of equal or lesser value. That would have been fine because then I would have what i thougbt I bought CIG Fnancial did nothing!

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#1 Consumer Comment

OK... how is this the lender's fault?

AUTHOR: Ieatsaltytears - (USA)

POSTED: Tuesday, February 16, 2016

Why should the lender be held responsible for YOU buying a vehicle that obviously was never inspected and needs a lot of work? I find it amusing that you come here and blame them and it seems to me they did nothing wrong. You, however, did. First off, did you have the vehicle inspected by a licensed vehicle inspecting agency? They are not expensive to hire, I know of one that does inspections nationwide for around $150 or so, which is a small price to pay for comfort knowing you are getting a good vehicle when plunking down $15,000.

Having a car break down does NOT remove your obligation of paying back that loan!  The bank had every right to repossess the vehicle for non-payment. You sound rather naive in this area. It doesn't matter if the vehicle is working or not, you didn’t' make the loan payment and sounds like you got into this whole mess because you did the WRONG things not the right ones.

Did you buy an after-market warranty?  While I do not (personally) believe that after-market warranties are worth the money if you were that concerned about the vehicle you could have gotten one.. Or at least checked into the dealer's warranty policy prior to buying the vehicle.. Sounds like you didn't do that either. Did you at least call your insurance company and see what their policy is?

USED CARS WILL NEED WORK TYPICALLY!  I bought a used van, but knew what I was getting into and realized that it probably needed some work, but thankfully the price and mileage was low enough it made it worth it for me and didn't stop me from making the proper plans to save money for any needed maintenance.

I have a feeling you are rather young and this probably was your first vehicle based on the way it sounds.. and that you are unfamiliar with obligations such as paying your loans. Consider it a lesson learned and do better research and get the CAR INSPECTED next time. Stop blaming others for your own inadequacies.

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