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Business Profile

Loans

Lendbuzz Funding, LLC

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Loans.

Complaints

Customer Complaints Summary

  • 12 total complaints in the last 3 years.
  • 5 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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Complaint status

Complaint type

  • Initial Complaint

    Date:11/18/2022

    Type:Order Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I am trying to do the payoff of my vehicle but the company is not open to negotiations to help me not pay interest fees. I have never paid late. I am trying to finalize the small amount that is due.

    Business Response

    Date: 11/28/2022

    Lendbuzz reached out to the customer to assist her in paying off her loan but we have been unable to get in touch with her. We will continue to work with the customer on this matter.

    Customer Answer

    Date: 11/28/2022

    I never get contact with nobody from the company

    **********


    I will be waiting for the call

     

     

     

    Better Business Bureau:I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # ********. Please add your rejection comments below; if you do not provide any details, your complaint will be closed as Answered. 

    [You must provide details of why you are not satisfied with this resolution.  If you do not enter a reason for your rejection, your complaint will be closed as Answered.]

    Businesses and Customers should be civil, courteous and polite in their responses to complaints. It is important to remain professional and productive when participating in the BBB complaint process.

    FAQ

    Regards,

    *********

     

    Business Response

    Date: 11/29/2022

    Lendbuzz contacted the customer in order to confirm and assist with her issues. Our representative spoke with the customer, aligned with her needs regarding paying off her loan and updating her name in our system. We are proceeding to assist the client on those matters. 

  • Initial Complaint

    Date:10/20/2022

    Type:Service or Repair Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I purchased a vehicle in October of 2020 with a down payment of $20,000.00 I was originally told by the dealership that the internet rate would be 12% only to later find out that it was *****%. I hit a hardship where I had to make substantial repairs to the vehicle which cased me to fall behind on payments. I was 2 months behind on the payment as a result of this at the time. I was attempting to contact the lender who is Lending Buzz lle, *****************************************. I was unsuccessful in my efforts to speak with them. Every time I called I got the automated service. The vehicle was repossessed on 9/15/2022. Upon my attempts to pay my past due balances and retrieve my vehicle I was told that they would not accept the payment but instead wanted the entire balance owed on the loan which is $32,072.12. I attempted numerous times to get in touch with someone in charge that could resolve the matter and was not able to. I believe that throughout this entire debacle I was handled incorrectly and harmed in several ways. Sincerely, done in good faith all rights reserved.Authorized representative By: **************************: *****

    Business Response

    Date: 11/01/2022

    Lendbuzz takes all customer complaints seriously. Upon receiving this complaint, an investigation was conducted. First, the investigation discovered that the discrepancy in rate stated by the customer is the difference between the interest rate and the annual percentage rate (APR). The APR, unlike the interest rate, includes interest, costs and fees stated as an annual rate which is why it is greater than the interest rate alone. Second, research of the customers claims found that the customer originally defaulted on his loan in the fall of 2021 which resulted in his car being repossessed October 5, 2021. Following that repossession, Lendbuzz permitted the customer to reinstate his loan and returned the vehicle to him shortly thereafter. The customer went into default again, and his vehicle was repossessed a second time September 16, 2022. When a customer is repossessed a second time, ******************** seeks full payoff prior to returning the vehicle. Lendbuzz attempted to work with the customer on a full payoff, but he was unable to remit payment accordingly.

Lendbuzz Funding, LLC is NOT a BBB Accredited Business.

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