Vehicle loan or lease -- Problems at the end of the loan or lease -- Complaint #5495127
Complaint Overview
Complaint ID: 5495127
Company: Ally Financial INC.
Product: Vehicle loan or lease
Sub-Product: Lease
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: California
ZIP Code: 91763
Date Received: 2022-04-25T12:00:00-05:00
Date Sent to Company: 2022-04-25T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
When I originally purchased the vehicle in XXXX the car dealership charged me for an additional XXXX insurance policy which I did not request. After noticing the charge on my bill of sale, I contacted the dealership and the dealership refunded the amount which was approximately {$3000.00}. The refund was sent to Ally who should have subtracted the {$3000.00} from the original financed amount and re-calculated the interest fees pursuant to a loan for approximately {$3000.00} less. The dealership did not send me a refund for {$3000.00}. Instead they sent the approximately {$3000.00} to Ally who, at that time applied the entire approximately {$3000.00} to the interest fees that were already established on the account and told me that I did not have to make a payment until XXXX of XXXX. Now that my car has been totaled, the insurance has paid the car off ; Gap is refusing to pay because Gap is stipulating that Ally owes me approximately {$6000.00}. Ally is stipulating that I still owe a remaining balance of {$2300.00}. This issue would be resolved if in XXXX of XXXX, Ally would have put the approximately {$3000.00} refund toward the principal balance and subtracted unnecessary interest fees due to the smaller necessary amount requiring financing. I would like Ally to recalculate the interest fees that were erroneous and should have been recalculated at the time the lump sum payment was issued ; and/or certify that the approximately {$3000.00} should have been utilized and subtracted from the principal balance as opposed to the interest fee balance ; because it is obvious that the approximately {$3000.00} was applied to interest fees entirely in error. The car has been paid off and Ally is still claiming that I have an outstanding balance due to Ally 's error in XXXX.
Frequently Asked Questions
What is Complaint #5495127 about?
Complaint #5495127 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 2022-04-25T12:00:00-05:00.
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.