Vehicle loan or lease -- Getting a loan or lease -- Complaint #6432530
Complaint Overview
Complaint ID: 6432530
Company: Ally Financial INC.
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Getting a loan or lease
Sub-Issue: High-pressure sales tactics
State: Illinois
ZIP Code: 60466
Date Received: 2023-01-12T12:00:00-05:00
Date Sent to Company: 2023-01-12T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I would like to have someone look into the high interest rate car loan I was placed in with Ally Financial in XXXX. The rate I was placed in is 20.44 % over a 7 year pymt period. The original loan bal was XXXX. The current bal is now XXXX. Since XXXX I have paid a total of XXXX There records indicate that XXXX, XXXX has been paid to interest and only XXXX has been applied to the principal. There are 34 payments remaining that total XXXX additional dollars. This high interest loan that I was placed in is in no way the way you properly conduct business in a fair and decent undiscriminatory way. I believe I was placed in this loan wrongfully. The loan exceeds the life of the vehicle. The vehicles transmission has gone out leaving the current vehicles value only at an estimated XXXX. On XX/XX/XXXX and XX/XX/XXXX, I reached out to the lender and was transferred to 3 different departments only to be told there is nothing they can do. Each department said they did not have access to see the total amount of int I have paid. The departments were customer service XXXX, collections XXXX ( XXXX ), and work out team XXXX ( XXXX ). I believe the lender and the dealership did not hold good moral intention when they placed me in this loan. I believe my rights have been deliberately violated.
Frequently Asked Questions
What is Complaint #6432530 about?
Complaint #6432530 was filed against Ally Financial INC. regarding Vehicle loan or lease specifically about Getting a loan or lease. It was received by the CFPB on 2023-01-12T12:00:00-05:00.
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.