Vehicle loan or lease -- Managing the loan or lease -- Complaint #5309011
Complaint Overview
Complaint ID: 5309011
Company: Ally Financial INC.
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Managing the loan or lease
Sub-Issue: Billing problem
State: Missouri
ZIP Code: 640XX
Date Received: 2022-03-10T12:00:00-05:00
Date Sent to Company: 2022-03-10T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have been in contact with Ally trying to get an explanation to my pay off balance of {$16.00}, XXXX as of XX/XX/XXXX. I purchased the car XX/XX/XXXX at {$17000.00} with 18.59 %. I had paid almost {$12000.00} and they applied 99 % of my hard earned money to the finance charges and 1 % to the principal. How is this possible and legal for a bank to do this. I have never had a car loan from a bank that does this and I've had several car loans. Please note that the pandemic caused shutdown for months and I was out of work from 2 of my jobs and I still was able to make payments even if it was the full amount.
Frequently Asked Questions
What is Complaint #5309011 about?
Complaint #5309011 was filed against Ally Financial INC. regarding Vehicle loan or lease specifically about Managing the loan or lease. It was received by the CFPB on 2022-03-10T12:00:00-05:00.
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.