| 04/26/2017 |
Yes |
- Vehicle loan or lease
- Lease
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- Getting a loan or lease
- Changes in terms mid-deal or after closing
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Web |
Older American |
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AGCO Finance executed a predatory Lease Agreement, c hanged a co-signor to a co-lessee when my credit alone was not adequate without disclosure, changed a Lease after it was signed by all parties, tampered with a VIN number and attempted to collect a debt it is not entitled to. AGCO Finance refuses to address the contract irregularities restated below This Complaint is against AGCO Finance Company who bears responsibility for all AGCO Re presentatives who conducted business on the instruction of XXXX XXXX . In XXXX XXXX , I attempted to lease a XXXX XXXX Tractor thru the AGCO Representative XXXX XXXX . XXXX collected my financial data. XXXX referred to the lender as XXXX when it was really AGCO Finance . XXXX advised me that I needed a co-signor. I supplied a co-signor who submitted a separate financial application to XXXX . Unknown to me and the co-signor XXXX elevated the co-signor to co-lessee without disclosure to either me or the co-signor. XXXX created a second credit application after the tractor was delivered an d the Lease Agreement w as signed. XXXX also returned the Lease Agreement to me after it was signed stating that there was an error in the serial number, ( the Tractor VIN Number ) that was listed on the Lease, would I acknowledge the change. XXXX did not contact the co-signor whom he elevated to co-lessee and the co-signor never acknowledged changes made to the contract by XXXX after the co-signor had signed the contract. XXXX used the financial information from the co-signor to meet the financial requirements and this was why he elevated the co-signor to co-lessee. XXXX always made a point to ask AGCO when he needed clarification. AGCO Finance a pproved credit only with the submission of a co-lessee and not me ; AGCO Finance administered financing and approved a Lease Agreement that without a co-lessee they did not believe would be repaid making this a predatory lease/financial agreement and never advised the parties of the change from co-signor to co-le ssee. AGCO Finance, AGCO and t heir representative XXXX XXXX did not show me where the VIN was located on the tractor and the VIN on the tractor was not verified to be the VIN documented on the Lease Agreement. In XXXX XXXX , it was discovered that the VIN on the tractor was not the same as on th e Lease Agreement. In XXXX , when I attempted to purchase parts for the tractor which should have been covered by the Warranty from a differ ent AGCO represent ative, I was told the tractor did not have any warranty. When I tried to verify the VIN with the VIN listed on the Lease Agreement they clearly were not the same. When this was brought to the attention of XXXX , his response was you must have removed it ; it is from damage from the operators feet. No, neither are the case and then XXXX and AGCO wanted me to tamper with the VIN of the tractor by applying a new VIN with the number that was on the Lease Agreemen t. AGCO financ e continues that this is about monetary default and this is why they commenced legal action against me and the co-signor that they now call the co-lessee. So again conside r AGCO Finance st ates : As such, due to the ongoing payment default under the Lease occurring since XXXX XXXX , XXXX and XXXX XXXX decision not to accept the repaired Equipment from the Dealer, AFC notified the lessees of its decision to terminate the Lease and pursue its remedies under the Lease. Consider that it was XXXX XXXX that I advised AGCO Finance an d AGCO that the tractor was a Lemon and they did not respond. AGCO did not advise me what remedies existed. XXXX said NY does not have a XXXX XXXX . NY does have a Lemon Law. Consider that the tractor, under protest was returned to XXXX on XXXX XXXX , XXXX ; under protest because XXXX was unable and unwilling to repair the tractor that was defective on the date of delivery XXXX XXXX , XXXX . I had requested to take the tractor to a different AGCO representative and AGCO said NO only XXXX can fix. Consider that AGCO did not and has not reimbursed me for the parts covered by the Warranty that I purchased in XXXX XXXX , more than another payment in value. Consider that the tractor was out of service from XXXX XXXX till XXXX XXXX and XXXX says they do not offer substitution even though the tractor was out of service the entire growing season ; I was not receiving anything as my part to the Lease. There was not any default because after a considerable runaround time required to notify all parties ( first I was told to contact this one and that one said someone else until the last one said I had to contact the first one ) and no offer of solution or resolution b y AGCO, I told AGCO, AGCO Finance and XXXX the tractor met the definition of N Y State as a Lemon and b ecause they had not acted in good faith to resolve the issues other than to say the tractor is ready after being out of service for the third time and this time for 129 days, and never having been able to fix the tractor on previous attempts, I said keep the tractor and declare the Lease, a document based on fraud, Null and Void. Consider that the tractor I received had 60 hours on the tachometer and XXXX sold it as new on the Lease Agreement. The tractor was already known to be defective when XXXX brought it to me, the person with subpar credit. AGCO Finance c hanged a contract to call a co-signor a co-lessee in order to approve the Lease Agreement ; the Lease Agreement was altered after it was signed by AGCO without the acknowledgement of all parties and AGCO readily tampered with the VIN of the tractor to make it appear it was the tractor defined by the Lease. AGCO has no basis to say this complaint only refers to a defective tractor and not the financing portion. No default in payment occurred because of the failure of AGCO to reimburse for parts under warranty and it was XXXX several months prior to XXXX XXXX , which I sought solutions for which AGCO failed to respond.
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| 02/03/2017 |
Yes |
- Consumer Loan
- Vehicle lease
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- Taking out the loan or lease
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Web |
Older American |
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I have a farm tractor that meets the criteria as a Lemon under NY State Farm Equipment Lemon Law. I have discovered irregularities in the Lease Agreement executed by AGCO. AGCO identified the tractor with multiple Serial Numbers on Lease Agreement when in reality, in XXXX it was discovered it had none. AGCO changed a legally binding lease multiple times after it had been signed without the acknowledgement of all signors. The tractor was identified by XXXX/AGCO as a Model- XXXX with a serial number XXXX. 2 days later XXXX/AGCO said a little mistake, the Model and Serial Number were in error and wrote Model- XXXX and Serial Number XXXX beside the other number and requested the change be initialed but only E-mailed to me to and not to the co-signor who XXXX elevated to co-borrower without disclosure. No one showed me where the serial number was located. In XX/XX/XXXX, I discovered that the tractor did not have any Serial Number. I contacted XXXX and he sent a serial number and told me to apply it to the tractor. I returned the serial number to XXXX/AGCO commenting I thought it was a crime to tamper with a Vehicle 's Identification Number. When I returned the tractor to XXXX ( AGCO ) on XX/XX/XXXX there was not a Serial Number on tractor. On XX/XX/XXXX, I notified AGCO in writing that the tractor was a Lemon, that since the first day it was delivered to the farm the tractor was defective and AGCO had been unable to repair. Several attempts had been made by AGCO to repair including troubleshooting over the phone, sending new parts to be installed, and taking the tractor back twice. Each time the tractor was returned to the farm, it experienced the same issues. I asked to take to a different AGCO rep. AGCO said NO. I said end the contract because AGCO did not respond, did n't repair the tractor, never made any offer of substitution or resolution and never reimbursed for warranted parts purchased by me. The tractor would not start from XX/XX/XXXX until XX/XX/XXXX. XXXX was directing repair and sending new parts. Upon threat that if I did not return the tractor to XXXX, the warranty would expire so XX/XX/XXXX I returned the tractor to XXXX/AGCO to repair for the same problem. The tractor was out of service 129 days. On XX/XX/XXXX, I contacted AGCO for a list of what was done to the tractor and some guarantee that the tractor for an agreed amount of time would not have any more problems. AGCO did not respond. On XX/XX/XXXX I contacted AGCO and said I had not received any response to XX/XX/XXXX request. AGCO did not respond. I was sending information to the proper address because on XX/XX/XXXX at XXXX I sent a request to AGCO for copy of Lease and payment history to the same E-mail and by XXXX, I had documents. XX/XX/XXXX, XXXX said tractor is done, did {$30000.00} repair. On XX/XX/XXXX, I notified AGCO-Corporation, AGCO Finance, AGCO Rep. XXXX and said the tractor has no serial number, was defective the day it was delivered XX/XX/XXXX, was not able to be used for the purposes it was leased for, was unable to be repaired by AGCO, was taken back to XXXX twice, a XXXX mechanic came to where the tractor quit and could not restart, XXXX was still trying to repair in XXXX by sending more parts, AGCO failed multiple times to respond to my requests in effort to resolve or for a guarantee that the tractor would be repaired and having accepted this tractor back twice before when it was reported to have been repaired only to have the ongoing issues reoccur. I would not take the tractor back. Declare it a Lemon.Terminate the contract. AGCO did not respond. XX/XX/XXXX, XXXX XXXX said he notified all AGCO divisions of my decision. Tractor at XXXX/AGCO since XX/XX/XXXX. I heard nothing from AGCO since XX/XX/XXXX until XX/XX/XXXX when AGCO says I am in default of lease and must pay. I was not in default when I took the tractor to XXXX.
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| 11/22/2017 |
Yes |
- Payday loan, title loan, or personal loan
- Installment loan
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- Problem with the payoff process at the end of the loan
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Web |
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I leased a copier from XXXX XXXX XXXX XXXX XXXX on XX/XX/XXXX for {$210.00} a month for 24 months. Upon receipt of the lease agreement it was incomplete and an illegible facsimile copy. Many of the details of the lease agreement were omitted such as the total cost of the lease at the end of the 24 months, the original purchase price of the copier and the copier 's serial number. However the lease agreement did indicate my end of lease option would be to purchase the copier for Fair Market Value ( FMV ) which would be provided by XXXX XXXX XXXX XXXX XXXX. At the end of the 24 month lease term which was XX/XX/XXXX I was not provided the Fair Market Value of the equipment nor was I placed on notice that the lease agreement would renew automatically every 60 days from XX/XX/XXXX. However, I did continue to receive invoices every month for an additional 48 months or 4 years for {$210.00}. This means the lease renewed 24 times in 4 years and not one time was I ever notified of the renewal or given the Fair Market Value on any of the invoices that I continue to receive. I have paid an additional {$10000.00} ( {$210.00} x 48 months ). Today I contacted XXXX of XXXX XXXX XXXX XXXX XXXX to inquire why have I continued to receive invoices for 6 years and this equipment still has not yet been paid in full. She explained that after the 24 month lease expired I could have purchased the equipment for {$1100.00} Fair Market Value. I was shocked that I was not advised of the Fair Market Value in any invoice or monthly statement that I had received. I then requested a FMV offer, invoice or statement via email from XXXX XXXX XXXX XXXX XXXX/XXXX to buy the equipment. I received an email stating the FMV or purchase price of the equipment would be {$54.00}. I feel this company has taken advantage of me and charged me an additional {$9200.00} ( {$10000.00} - {$1100.00} + {$54.00} ) over and beyond what the Fair Market Value would have been on XX/XX/XXXX. It is obvious to me that this company preyed on me with their incomplete and illegible lease agreement and would not have EVER provided me the Fair Market Value in their monthly billing statements.
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| 12/05/2020 |
Yes |
- Vehicle loan or lease
- Loan
|
- Getting a loan or lease
- High-pressure sales tactics
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Web |
Older American |
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Around XX/XX/2020 i stated to talk to XXXX in Idaho for a tractor and baler.
They had a used tractor and a new XXXX baler.
They gave me the price and who would be good to get a loan from.
As we talked I did fill out some paperwork to get things started.
But as things got going they started to push me into getting this deal done.
At the time I had done some paperwork with the loan company.
They had sent paperwork but there was problems with it and that company said that with the way I had signed some of there paperwork was not how there rules and polices were. So that i still needed to re-do those documents.
So all this time I did not know that the loan company had went around there rules and that XXXX had taken money with knowing that the paperwork was not inside what the law is in Idaho and the law in Nevada.
So when I did think it would be best that I pass on this equipment they told me the deal was done already!!
The loan company on XX/XX/2020, started to fund the loan and on XX/XX/2020 did fund the loan and send XXXX the money for the equipment.
But I will sent copy of emails dated XX/XX/2020 that shows that they both wanted me to re-do the paperwork then.
And in a email they both said that the paperwork was done on XX/XX/2020 & XX/XX/2020.
And I did not even try to send paperwork back tell XX/XX/2020 And then a very short time after that I was told that the money had been sent weeks before that.
So how could a loan be done with out all paper work done and signed.
So after XX/XX/2020 I did think it was best to just walk away from this.
But then later I did find out that XXXX took months to pay back the money to the loan company.
And that should have been done right away.
And in Idaho and in Nevada both company 's did not stay witin the law on this
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| 01/17/2019 |
Yes |
- Payday loan, title loan, or personal loan
- Installment loan
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- Problem with the payoff process at the end of the loan
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|
Web |
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On XX/XX/XXXX, we purchased a tractor from XXXX XXXX on an installment loan for $ XXXX/mo for 84 months. We paid {$10000.00} down and have made 30 monthly payments in the amount of $ XXXX/mo. We initially received payment books from the finance company, XXXX XXXX, however, have received no monthly statements, no year-end statements, no letters, nothing ... since the inception of the loan.
Today, XX/XX/XXXX, I called to get a payment history/statement, showing interest and extra payments applied, and was told that information is not available. They can only provide a payment history that shows a simple date and the amount paid, with no interest calculations or extra payments applied. I already have a simple list of dates and payments I have paid. I asked to speak to a supervisor, and was transferred to XXXX XXXX, and was told that I need to educate myself on how agricultural loans work. She said they do not have to provide me any breakdown information, that I am responsible for 84 payments in the amount of {$250.00} regardless of the extra payments I have made. The only thing they can provide is an amortization schedule of the original loan plan, not one for the actual payments that I have made. She said that if I need that level of detail, I will have to contact my own accountant and have them figure it out for me! I was completely blown-away by this finance companies standards, or lack thereof.
I would like a full payment history of my account, including all monthly payments, monthly interest applied, and how extra monthly payments were applied to the loan, so that I can determine if there is a discrepancy in the amount still owed.
Thank you.
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| 12/05/2017 |
Yes |
- Debt collection
- Other debt
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- Attempts to collect debt not owed
- Debt was paid
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Web |
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This will follow my previous CFPB Complaint No. XXXX regarding XXXX XXXX XXXX XXXX XXXX and my XXXX XXXX Lease Agreement No. XXXX. In that complaint I disputed XXXX predatory 60-Day lease renewal practices which cost me an additional {$10000.00} in leasing payments after the expiration of my 24 month agreement. XXXX finally after 6 years offered me a buyout for my XXXX XXXX in the amount of {$54.00} which I remitted and it cleared XXXX bank account on XX/XX/XXXX.
I have attached a copy of the negotiated check for {$54.00} payment. Per XXXX Quote No. XXXX, the payment was not due until XX/XX/XXXX. XXXX responded to the first CFPB complaint on XX/XX/XXXX, several days after they had received my buyout payment and falsely stated they had not received the payment. XXXX generated another invoice for the month of XX/XX/XXXX for {$230.00}. It is obvious that XXXX misrepresented the payment and accounting history of my account on purpose just to generate additional billing or to attempt to renew my lease term for another 60 days to benefit their company.
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| 04/10/2020 |
Yes |
- Debt collection
- Other debt
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- Threatened to contact someone or share information improperly
- Talked to a third-party about your debt
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Web |
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My parents and I received a call today about an alleged debt. XXXX from XXXX XXXX XXXX called and left a message on my parents answering machine that I owed {$25000.00} on a tractor and that I was behind 7 months on payments. I have the conversation recorded on my phone of my father calling me and telling me this. I have already spoken to the debtor regarding this claim some time ago. I was under the impression that disclosing personal information about a debt, other than to the debtor, was illegal. They also sent 2 guys to my house today who threatened to charge me with a state jail felony after I offered them to look around my property for the tractor they claim I owe on. The repo companies truck had no visible markings either to identify the company which also is not in compliance with state and federal regulations. I have video from my vehicles dash cam to back this up as well.
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| 01/26/2021 |
Yes |
- Debt collection
- Other debt
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- False statements or representation
- Attempted to collect wrong amount
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Web |
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When asked how was the amount owed, {$37000.00} calculated, they said they spent too much time on my file and if I don't respond today they will move to legal. XX/XX/2021 They offered my {$7700.00} settlement but I am not sure if original amount is correct.
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| 01/04/2024 |
Yes |
- Vehicle loan or lease
- Loan
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- Managing the loan or lease
- Problem with fees charged
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Web |
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| 11/03/2023 |
Yes |
- Debt collection
- Other debt
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- Attempts to collect debt not owed
- Debt was paid
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Web |
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| 05/03/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Information belongs to someone else
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Web |
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| 01/12/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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Phone |
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| 11/24/2021 |
Yes |
- Debt collection
- Other debt
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- Took or threatened to take negative or legal action
- Threatened to sue you for very old debt
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Web |
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| 10/14/2021 |
Yes |
- Debt collection
- Other debt
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- Communication tactics
- You told them to stop contacting you, but they keep trying
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Phone |
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| 05/10/2021 |
Yes |
- Payday loan, title loan, or personal loan
- Installment loan
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|
Phone |
Older American, Servicemember |
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| 03/26/2021 |
Yes |
- Debt collection
- Other debt
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- Attempts to collect debt not owed
- Debt is not yours
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Web |
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| 03/24/2021 |
Yes |
- Debt collection
- Other debt
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- False statements or representation
- Attempted to collect wrong amount
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Web |
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| 02/19/2021 |
Yes |
- Checking or savings account
- Other banking product or service
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- Managing an account
- Problem making or receiving payments
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Referral |
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| 06/23/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account information incorrect
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Web |
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| 06/24/2019 |
Yes |
- Vehicle loan or lease
- Loan
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- Getting a loan or lease
- Problem with signing the paperwork
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Phone |
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| 04/05/2019 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account information incorrect
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Web |
Servicemember |
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| 11/20/2018 |
Yes |
- Payday loan, title loan, or personal loan
- Installment loan
|
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Postal mail |
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| 04/05/2018 |
Yes |
- Debt collection
- Other debt
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- Attempts to collect debt not owed
- Debt is not yours
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|
Web |
Servicemember |
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| 01/05/2018 |
Yes |
- Payday loan, title loan, or personal loan
- Installment loan
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- Problem when making payments
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Postal mail |
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