Vehicle loan or lease -- Problems at the end of the loan or lease -- Complaint #4568885
Complaint Overview
Complaint ID: 4568885
Company: General Motors Financial Company, INC.
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Problems at the end of the loan or lease
Sub-Issue: Problem with paying off the loan
State: Texas
ZIP Code: 77044
Date Received: 2021-07-23T12:00:00-05:00
Date Sent to Company: 2021-07-23T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
We have paid overage payments during most of the loan 's history. However, the balance doesn't correctly represent the payments made. We have requested all overages to be applied to the principle. Yet, there has been no explanation as to why GM won't apply the overages to the principle. The loan contract is due to expire in XX/XX/2021. We are trying to understand why there are now 8 payments left. Each month an additional payment gets added to the loan. The car loan was a 0 % interest loan, " supposedly. '' With no interest applied, the whole payment made to the loan should go to the principle. There have been many credit reports that document an interest of approx. 2.9 %. All of our loan documents state there should be no interest applied. We have requested a full payment history, which has not been successful.
Frequently Asked Questions
What is Complaint #4568885 about?
Complaint #4568885 was filed against General Motors Financial Company, INC. regarding Vehicle loan or lease specifically about Problems at the end of the loan or lease. It was received by the CFPB on 2021-07-23T12:00:00-05:00.
How did General Motors Financial Company, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Vehicle loan or lease) and describe your issue in detail.
Can I see other complaints against General Motors Financial Company, INC.?
Yes, visit the General Motors Financial Company, INC. company profile at readthecomplaint.com/company/general-motors-financial-company-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.