Complaints

This profile includes complaints for LGM Financial Services Inc's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  LGM Financial Services Inc

  654 999 Canada Pl Vancouver, BC V6C 3E1

  
• 

  LGM Financial Services Inc

  142 757 W Hastings St Vancouver, BC V6C 1A1

  
• 

  LGM Financial Services Inc

  300 - 2010 Winston Park Dr Oakville, ON L6H 5R7

  

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.

• Initial Complaint

  Date:09/11/2023

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  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 from ****** ********** and they wanted me to buy the extended warranty from LGM financial services. At the time they did not inform me whether this is optional or mandatory. I was under the impression that this is mandatory. I signed the contract as they pushed me to do it and while signing they mentioned this could be canceled if I didn't like it but did not inform a specific date range. Now when I try to contact the dealership and LGM fiancial both Parties decline to cancel the extended warranty saying in the contract there is a line which says you cannot cancel a contract after 30 days.I have not used their services or made any claims from them so far. And I have paid close to $850 until now for nothing. And I clearly told them I did not need any refund. Just cancel this. But they refuse to do it. I feel I was used and cheated. All I am asking is to cancel this extended warranty and prevent further charges from it.Hope No one ever deals with this kind of unprofessional services

  

  Business Response

  Date: 10/11/2023

  Hello Mr. ************, 

  Thank you for providing your feedback. My colleague engaged in a discussion with you earlier today and presented a solution, which I trust proved satisfactory. I sincerely apologize for any inconvenience caused. 

  *****************************, *********************** Experience - ********************** 

   

  Customer Answer

  Date: 10/11/2023

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

  And I sincerely thank BBB for making this possible. Highly appreciate your service in this regard
  
  Sincerely,
  
  *****************************************

• Initial Complaint

  Date:09/05/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  ** dealership sold me a ****** ***** extended warranty without going through the fine print and giving me all the details. Due to personal reasons I had to sell my car shortly after purchasing the extended warranty. I called ****** ***** head office begging them to stop charging my credit card as I no longer have the car and that because I was misinformed and they refused saying you only have 30 days to cancel, you are stuck with our contract for another 4 years, there's NOTHING we can do. Now I have to pay a few thousand dollars for the next few years on insurance for a car I don't even own.

  

  Business Response

  Date: 10/05/2023

  Hello ***, 

  Thank you for taking the time to share your feedback. One of my Team Leads discussed the cancellation of your contract with you today and provided you with an option which satisfied your need. 

  *****************************, *********************** Experience - **********************. 

• Initial Complaint

  Date:22/03/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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 paid over $******* to LGM for their "Elite" warrant y coverage. Have spent 4 months getting a complete run around just to find out there's a grey area after finding an issue stemming from a repair they started in December, so they will not be covering a major part that specifically states it IS covered under my policy due to them stating " its undetermined that there is a mechanical failure for the parts that have failed and are causing my vehicle to be unsafe to drive ( and now shakes since coming back from the mechanics shop) therefore it will not be covered. They cant confirm its a mechanical failure so they are not standing behind their policy, and the ******* coverage i paid for. DO NOT BUY LGMS WARRANTY - It is a complete joke, and they will do everything they can to avoid covering anything that fails regardless if it states its a covered part. If they cant prove its a mechanical failure - too bad for you! I paid good money for their "top" warranty plan, and I have paid more out of pocket at this point (on top of the 6k) to have it brought back in for 4 months for repeat inspections and deductibles (negligence from the dealership) than they have covered, and they are now refusing to cover a covered part because they cant prove its a mechanical failure. I am leaving with having to pay more out of pocket while they just pocket the remainder of the 6k I paid for this useless plan, as well as a vehicle that is now unsafe to drive stemming from an issue that arose after the first repair done.

  

  Business Response

  Date: 29/03/2023

  We appreciate hearing from you and sorry that your expectations were not met.   LGM is the administrator of your *************** Contract, which we administer in accordance with its terms and conditions.  While we were pleased to authorize two claims on your vehicle, we were not able to authorize coverage of an additional part to the second approved claim as that additional part was excluded under the terms of your *************** Contract.  We trust this provides further clarity as to why we were regretfully unable to approve this additional part.

• Initial Complaint

  Date:09/02/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  Purchased extended warranty threw ***************** Sep/22 vehicles odometer reading was 88k vehicle was still under factory warranty until 100k or 5 years LGM covers vehicle up until 120k so essentially it was close to 4000$ for 20,000km of warranty with a 500$ deductible and a 2000$ limit on repairs the whole thing was just one big massive **** take and a rip off with no way to cancel as the contract is outside the 30 day window now Im stuck paying for a warranty for years that will expire before Christmas 2023

  

  Business Response

  Date: 14/02/2023

  Hi ************, 

  Thank you for your feedback. Apologies for the inconvenience.  We have looked into your file and we are trying to contact you to discuss your situation in the hope of finding a resolution. 

  Have a great day!

  *****************************, ************************* Experience - ********************** 

   

• Initial Complaint

  Date:18/01/2023

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  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 bought extended warranty after an inspection was completed on my vehicle in September 2022 and paid $512.61 initially then $128.15 each month after. When there was a problem with my vehicle, I brought it to a certified repair shop and they were in correspondence with LGM. LGM dragged their feet on the issue for almost a month, and repeatedly requested maintenance records from the repair shop and myself, also saying that I need to pay out of pocket for everything first; not knowing if they will approve and reimburse me ~$5700 (I cannot pay that amount). I have now decided to sell my vehicle and LGM refuses to cancel my policy even though when I first bought it, I was told I could cancel at any time. They are requesting that I pay the rest of the policy amount which would be about $4000. The policy even states that they will cancel the policy when the vehicle is sold. I am not going to continue paying for a warranty that did nothing for me and I no longer required.

  

  Business Response

  Date: 19/01/2023

  Hi Mr. ******** *****, 

  Thank you for your feedback. We apologize for the inconvenience you have experienced. We have provided a solution to you on January 18  and I hope you are satisfied with the resolution. 

  Have a great day!

  Cynthia Cherfan - Vice President Customer Experience, LGM Financial Services.

  Customer Answer

  Date: 28/01/2023

  
  
  Better Business Bureau:
  
  
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  
  
  
  Sincerely,
  
  
  
  ******** *****

• Initial Complaint

  Date:04/01/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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 was sold 2 vehicle packages with LGM almost 4 years ago by phone after purchasing my new vehicle from ***. They were an extended warrany and appearance package. I was told I could cancel them anytime or transfer the policy if selling it. I have started the process of purchasing a NEW Exteneded warranty on my new car through LGM as I have now traded my vehicle. I then called LGM to cancel the old plans. The rep i spoke to told me I could NOT cancel them and I would have to continue paying on them and the new one even tho I no longer have the vehicle. **** *** ******** This is unacceptable. I’m just looking for what I was told I could do many times when being sold the warranty over the phone, and that was to cancel or transfer the warranty if I decided to sell or trade in the vehicle. I have never kept a car for that long and never would have purchased the packages if I was told I couldn't cancel when selling or trading it in the vehicle. That was one of the biggest selling points. "YOU CAN CANCEL OR TRANSFER THEM" * **** **** **** **** ****** *** *** ***** ********* *** ****** * **** ****** ** ** ******

  

  Business Response

  Date: 09/01/2023

  Thank you for your email. We are currently looking into the situation and discussing with the dealership to see what solutions we can offer. We apologize for the inconvenience this may have caused. 

  Cynthia C******, Vice President - Customer Experience. LGM Financial Services 

• Initial Complaint

  Date:12/12/2022

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  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.

  Upon leasing a vehicle I was not told that I would have to pay for this warranty if I so happened to trade it in. I was told I would be able to cancel or transfer the warranty to a new vehicle. I was flat out lied to. They want to take money from me when I no longer have the vehicle and they won’t transfer. As a consumer you have to be careful *** **** * **** ******* ***** ** ******* *** ** ** *** ****** ** * ***** **** ***** *** *** *** **** *** **** *** ******** *** I been paying them for almost a year with no claims. ********* ***** ** ** **** **** **** ******** **** *** ******** ***** **** ******* ***** ******* ** *** ***** **** **** ************ * **** ** ****** **** ** ******** ******* ** ** ***** **** ***** ******* ****** **** ** ** *******

  

  Business Response

  Date: 23/12/2022

  Hi ****, 

  Thank you for your feedback. We are looking into the situation right now and we will reach out to you as soon as we have more information.

  thank you

  Cynthia C******, Vice President Customer Experience - LGM Financial Services 

  Customer Answer

  Date: 25/12/2022

  
  
  Better Business Bureau:
  
  
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  
  
  
  Sincerely,
  
  
  
  **** ********

• Initial Complaint

  Date:21/11/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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 have been paying this insurance policy with this company for two years. We had just renewed, amongst other issues like them making typographical errors with banking information and their account managers lying about policy understandings *example, that we could change our date from bi weekly to monthly with no issues, which is NOT correct* In the last week we renewed our contract, a vaccum leak happened with my vehicle. Something that was supposed to be covered was then not. Now I am left with a 634 dollar bill i have to pay out of pocket and this company wants me to continue to pay them 145 dollars each month for what? I have willingly paid over 4000 dollars in two years to them in case I needed help with my warranty, I am absolutely disheartened by the fact that this company lies to so many people saying they would help me in my time of need, you know the whole reason why people pay insurance money and now that I need the help, they have refused to pay a penny! ABSOLUTELY NOT OK

  

  Business Response

  Date: 24/11/2022

  We have left 2 voicemails to speak to our customer over the past 2 days. We have now scheduled a call for tomorrow November 25 to discuss the situation and  find a resolution. 

  Cynthia C****** - Vice President - LGM Financial Services 

• Initial Complaint

  Date:21/11/2022

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  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 was told when purchasing a used **** ** ****** in February 2021 that with the negative equity on my trade in, the financing (** **** ******), folks were obligating me to purchase "gap" or negative equity insurance. I was told I could cancel the plan at such time I no longer owned the vehicle or it had been paid out. This coverage came from LGM. I never received a brochure, email, letter, or telephone call about the aforementioned policy. Fast forward to July 2022, and I was able to purchase a brand new **** ********, with financing that did not require any form of gap insurance. The ** traded in and the loan paid out to ** **** ******* in full. I noticed in November that there had been a $45 charge from LGM, and when looking further noticed they had been taking the same amount every month since the ** had been traded in.
  I called their customer service number and like others was told "no you need to pay the full amount as stated on your contract". I was flabbergasted--Why would I pay for something that covers me for now a non existent reason? I have never heard of such a thing from a purported insurance provider--Only that there could be a potential "time on risk" balance owing when cancelling--I was advised by LGM to contact the dealership where I purchased the policy and see "what they could do"--Like others I was referred back to LGM as they were the policy providers. I cannot see how this is even plausible to continue to demand payments for another 4 plus years when the original terms for needing such coverage no longer exists.

  

  Business Response

  Date: 23/11/2022

  I have spoken to *** ***** and explained how and why the contract is not cancellable. After discussing the situation with *** *****, i proceeded with the cancellation of his contract effective today and advised that i cannot return the payments that were already taken. *** ***** was satisfied with the resolution of his complaint. 

  Cynthia C****** - Vice President Customer Experience - LGM Financial Services

  Customer Answer

  Date: 24/11/2022

  
  
  Better Business Bureau:
  
  
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  
  
  
  Sincerely,
  
  
  
  ****** *****

• Initial Complaint

  Date:15/08/2022

  Type:Order Issues
  Status:

  ResolvedMore info

  Complaint statuses

  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.

  We purchased our warranty last August with our used car. We have never had to use it up until the engine had a catastrophic failure due to a timing chain skip. We have kept our car up to date with maintenance, our dealership is prepared to do the work on the car and LGM is dragging their feet over this. Our monthly warranty payments are almost equivalent to our house insurance. We have kept up our end of the agreement and LGM does not want to keep up their own. They are telling a third party mechanics shop that their assessment is incorrect, and a "timing chain skip should not cause catastrophic engine failure". Either this is company is a **** or they are utterly *********** ** ********* * ******** ******* **** **** * **** **. It has been almost three weeks since our vehicle has been sent into the shop and they still have not kept up their end of the bargain and continue to take our money to provide us with a "warranty service in the event of a break down", as our car sits in the shop with a ruined engine.

  

  Business Response

  Date: 16/08/2022

  Hello Mr. ******

  Thank you for bringing your concerns to our attention. We take your concerns seriously, and we will be reviewing your claim file today. We will reach out to you via e-mail or phone to provide you with an update by midday Wednesday, August 17, 2022.

  Adrian D***** - Vice President & Associate Ombudsperson at LGM Financial Services Inc.

  Customer Answer

  Date: 17/08/2022

  
  
  Complaint: ********
  
  
  
  I am rejecting this response because: LGM Financial has failed to reach out to me within the proposed time period on 2022 08 17.
  
  
  
  Sincerely,
  
  
  **** *****

  

  Business Response

  Date: 18/08/2022

  We have connected with Mr. ***** to discuss the next steps on his claim, and we have discussed several of his concerns with the current claim. We have agreed to connect again today to discuss repair options.

  Adrian D***** - VP & Associate Ombudsperson at LGM FINANCIAL SERVICES INC.

  Customer Answer

  Date: 18/08/2022

  
  
  Better Business Bureau:
  
  
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. They have taken the time and care to make my voice heard in this process. Very happy with the outcome and solutions being made. 
  
  
  
  Sincerely,
  
  
  **** *****