Complaint #1529698 submitted on 08/21/2015 relating to Harley-Davidson Financial Services, Inc.. Complaint relates to Consumer Loan Vehicle loan - Managing the loan or lease .
Complaint was submitted via Web and sent to the company on Sunday 30th August 2015.
Harley Davidson Finance AKA XXXX XXXX is not computing their so-called simple interest contracts using the same formulas which change month to month in order to charge more interest to consumers.
Additionally, XXXX is holding payments from consumers and posting them later in order to collect a larger per diem interest rate which makes them more profits and lengthens contract terms to their benefit. It also costs consumers more over the life of the loan in interest.
My billing on XXXX/XXXX/15 based on my interest rate of 12.99 which is basically legal loansharking which SHOULD account for a reduced daily per diem because of a reduced principal balance per the statement states:XX/XX/2015Payment $ XXXXInterest $ XXXXPrincipal : $ XXXXXX/XX/2015Payment $ XXXXInterest $ XXXXPrincipal $ XXXXXXXX claims although the daily per diem interest costs should decrease my interest costs have increased which is the opposite of how so-called simple interest loans operate.
Basically, XXXX contracts need an audit from your agency because this affects XXXX loans & consumers.
Servicemember
| Company | Harley-Davidson Financial Services, Inc. |
| Complaint ID | 1529698 |
| Date Received | 08/21/2015 |
| Product | Consumer Loan Vehicle loan |
| Issue | Managing the loan or lease |
| State/ZIP Code | FL 344XX |
| Consumer Consent | Consent provided |
| Company Public Response | |
| Company Response To Customer | Closed with explanation |
| Submitted | Web 08/30/2015 |
| Result | Timely Response: Yes, Consumer Disputed: Yes |
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