Ally Financial Inc. Consumer Loan Complaint

Ally Financial Inc. Consumer Loan department,

Vehicle lease Taking out the loan or lease Taking out the loan or lease New York

My father had a car lease through Ally bank. He expired on -/-/15 - approximately 20 months prior to the end of his lease. He paid his - lease payment. I am his son and co-executor of his will.


After confirming receipt of these documents Ally stated that further payments would not be automatically withdrawn from my father 's accounts. I returned the car to the dealership, returned the plates to the DMV, and contacted the auto insurance company. I have since received notice that I owe $8800.00 to Ally. They have explained this as the difference between their estimated value of the car and what they received for it at auction. I do not have a copy of the lease contact. I was not informed by Ally when I initially contacted them that I would be responsible for this sum. I was not informed that I may want to keep the vehicle, pay the lease payments ( which would have totaled about $10000.00 over the remaining 20 months of the lease ). If I was aware of this I would have kept the car, made the lease payments and driven it through the lease period. Now the bank gets just about the entire term of the lease paid to them but was able to repossess and then sell the vehicle at a much higher residual value than it would have had had it been returned to them at the end of the original lease period. I could have spent just a little more money over the next 20 months and had the car. Instead the bank has the car and I have to spend almost the same amount of money.