Review about Gateway One Lending Car Loan from Phoenix, Arizona

11 of 60 Gateway One Lending reviews

Update added by user Mar 24

I though it may have just been me that had these harrowing experiences with this company. Hopes are that all these complaints ban together with me and file a class action on Gateway one

Original review posted by user Mar 23

I purhased a vehicle through a small scam artist dealer in Chandler alArizona, Millenium Auto Sales and the owner is Paul Jones.My total vested interest into this vehicle loan is 7,906.00.

The loan contract with Gateway 1 Lending has proven to be a fraudulent contract and admittedly so by Gateway 1 financial (see exhibit A attached copy of response to FTC from gateway one). The value of the vehicle is less than 6,000.00 and the Lender had knowledge of this value and continually withheld information to me as the consumer, that the odometer had been rolled back over 60,000 miles when they performed their autocheck and carfax report showing actual mileage. My purchase order showed the "actual mileage" as 104,000 as well as the odometer at purchase, however the carfax and autocheck in possession of the dealer of sale, and lender, gateway 1 financial, proved otherwise as it showed the vehicle had 167,000 plus miles on it at time of my purchase. I was "frauded" by the lender whom funded a loan of 17,000 plus for a vehicle worth less than 6,000.

Once I discovered the fraud, I took steps in reporting to regulatory authorities. I demanded my money back in full from the lender, and was denied, and made even more burdened by a hostile, violent repossession of the vehicle in front of my driveway in front of my wife, kids and in laws. I've been making repairs on the vehicle throughout my ownership and could no longer afford to continue to lose money making repairs so I could not make payments on the vehicle, and I explained to the lender that they've committed a criminal act against me with this entire loan process and fraudulent contract they had me to sign. I've incurred a loss of well over 8,000.00 with the devalued vehicle, mechanical repairs, and missing my work days seeking legal counsel and litigation services for the criminal and misleading behavior of this lender.

Ive also lost my $4,000 down payment and all the on-time payments I've made for one year. I had no cooperation and have been harassed for money i.e. car payments, even after the lender admitted fraud was prevalent and the odometer to their knowledge had been rolled back. I filed a law suit against Gateway One.

The dealer has been arrested and has a hearing on docket in June. I'm seeking from this lender the maximum in damages from court in recovering my monetary losses at this time and hopefully criminal charges can be pursued as well against this lender for predatory lending and victimization of consumers. We all need to file class action suits for FDCPA violations in addition to decpetive lending practices.

Rights under civil claims, as to recover my losses and initiate further action against this malefactor.

This review is a subjective opinion of a user.
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Reason of review:
Not as described
Product or service
Gateway One Lending Car Loan
Review category
Financial Services
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