Vehicle loan or lease -- Problems at the end of the loan or lease -- Complaint #5128349
Complaint Overview
Complaint ID: 5128349
Company: Ally Financial INC.
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Problems at the end of the loan or lease
Sub-Issue: Unable to receive car title or other problem after the loan is paid off
State: Oregon
ZIP Code: 97005
Date Received: 2022-01-19T12:00:00-05:00
Date Sent to Company: 2022-01-19T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I recently refinanced my vehicle loan with Ally Auto ( Account XXXX XXXX ) to another financial institution to lower my interest rate. As part of the refinance, I cancelled my service warranty with XXXX XXXX. A prorated refund of the service warranty in the amount of {$880.00} was remitted to Ally Auto on XX/XX/XXXX. Ally applied this to future installments. Then the loan was paid in full on XX/XX/XXXX. On XX/XX/XXXX I contacted Ally Auto using their in app messaging feature, to receive an estimated time frame to receive my overpayment. Ally Auto wrote me back on XX/XX/XXXX, stating that it was taking them more than 40 days from the paid in full date to begin processing overpayment refunds, and then an additional 7 to 10 days to mail the check to the address on file. They did not apologize, nor did they offer an alternative way to receive a refund given their delay. I still have GAP insurance with XXXX XXXXXXXX that I want to cancel. XXXX XXXX informed me that they would send any refunded amounts to Ally Auto, even though the loan is paid off and they are no longer the lienholder, and I apprised them of Ally 's delays in processing overpayments. This process will mean an additional delays of overpayment refund amounts. I know that any undisputed mortgage overpayments have to be remitted to the borrower within a two week time frame. I don't see how a vehicle is different. I understand that the pandemic has put many organizations under stress, however financial services is not directly impacted by supply chain shortages or labor shortages like other industries. As soon as these bottlenecks began to occur, Ally Auto should have adjusted their staff or their processes to compensate. I'm growing tired of the pandemic being used as an excuse to justify terrible service and disorganized management. This has been our shared reality for nearly two years, it's time to adapt.
Frequently Asked Questions
What is Complaint #5128349 about?
Complaint #5128349 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 2022-01-19T12:00:00-05:00.
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.