Vehicle loan or lease -- Problems at the end of the loan or lease -- Complaint #4799656
Complaint Overview
Complaint ID: 4799656
Company: General Motors Financial Company, INC.
Product: Vehicle loan or lease
Sub-Product: Lease
Issue: Problems at the end of the loan or lease
Sub-Issue: Termination fees or other problem when ending the lease early
State: Florida
ZIP Code: 34771
Date Received: 2021-10-11T12:00:00-05:00
Date Sent to Company: 2021-10-11T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Vehicle leased through GM Financial, 48 month lease matured on XX/XX/2021. The lease was paid in full in XX/XX/2021. Vehicle was traded into XXXX XXXX XXXX on XX/XX/2021. Sitting in the dealership I called GM Financial to obtain the payout and the transaction was finalized. When the check for the buyout was sent to GM Financial they refused it and kept returning it XXXX XXXX XXXX XXXX XXXX XXXX This was between GM Financial and XXXX XXXX having noting to do with me, my account to GM Financial was paid in full and closed. GM Financial took 3 months to finalize the paperwork with XXXX XXXX and in the meantime kept " extending '' the original lease. This was not requested, authorized or even necessary as I had already purchased another vehicle and the old vehicle was accepted as a trade in and payout provided. GM Financial extended the Lease by 3 months and each month kept reporting the payment as past due. reported past due. I tried on multiple occasions to have this corrected and GM finical instated that the past due amount was correct it is not. GM Financial has since processed the paperwork and finalized the buyout, I have received notification of same yet they are still refusing to remove the late payments from my credit history. This has had a significantly impact on my credit scope, it has reduced my score by 97 points, which has in turn put a bad mark on my credit worthiness and creditors have decreased my credit limit reducing my score even more. I want these late payments removed from my history, as it is false information reported.
Frequently Asked Questions
What is Complaint #4799656 about?
Complaint #4799656 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 2021-10-11T12:00:00-05:00.
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.