Vehicle loan or lease -- Problems at the end of the loan or lease -- Complaint #5110360
Complaint Overview
Complaint ID: 5110360
Company: Ally Financial INC.
Product: Vehicle loan or lease
Sub-Product: Lease
Issue: Problems at the end of the loan or lease
Sub-Issue: Problem while selling or giving up the vehicle
State: South Carolina
ZIP Code: 29615
Date Received: 2022-01-14T12:00:00-05:00
Date Sent to Company: 2022-01-14T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/XXXX I leased a new vehicle from a local dealership, the lease was assigned and the vehicle was sold to Ally Bank XXXX XXXX. On XX/XX/XXXX my dealership contacted Ally Bank XXXX XXXX for the buyout amount of the vehicle for a trade in. The amount they were given was {$7900.00} higher than the buyout stipulated in the contract. I called Ally Bank XXXX XXXX and was told the extra amount was due to " regulations and taxes ''. As that didn't answer the question I asked the finance manager at the dealership to contact the dealer services branch at Ally Bank and they were told that I am not allowed to trade in vehicles leased by them and if I did the dealer must pay rull retail value of the vehicle. None of this is stipulated in the contract that I signed. On XX/XX/XXXX, I contacted Ally Bank XXXX XXXX again and spoke with Supervisory Account XXXX XXXX who told me that Ally does not allow dealerships to buy out their leases. When I pressed him to show me where that is in the contract he was unwilling or unable too. I continued to press him for additional information as to why they were not allowing me to exercise the option plainly stated in their lease contract which he refused to do. In the contract, besides buying out the lease, there is a option to voluntarily end the lease and turn in the vehicle, when I asked for specifics of how that would work he refused to answer and told me to contact my dealer. When I told him that I tried that but Ally Bank was unwilling to work with them so I needed him to explain how it worked again which he refused. This is the XXXX vehicle I have leased in the past 10 years and this BY FAR is the worst I've ever experienced working with a leasing company before. I've never seen a company try so hard to not honor their own contract in their favor!
Frequently Asked Questions
What is Complaint #5110360 about?
Complaint #5110360 was filed against Ally Financial INC. regarding Vehicle loan or lease specifically about Problems at the end of the loan or lease. It was received by the CFPB on 2022-01-14T12:00:00-05:00.
How did Ally Financial 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 Ally Financial INC.?
Yes, visit the Ally Financial INC. company profile at readthecomplaint.com/company/ally-financial-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.