Ally Financial Inc. Consumer Loan Complaint

Ally Financial Inc. Consumer Loan department,

Vehicle lease Taking out the loan or lease California

I recently had my - cars, leased through Ally Financial, come to term. With each lease that ended, I experienced problems. On my first lease return, I will not say there was fraud but, there is definitely a policy of collusion and steering by the bank. I was told my buy-out/payoff of the existing lease was $ -. In this car there was a little equity. When I tried to buy a new car from a non-Ally affiliated company, we were told the buy-off amount was $ - more than the original agreed residual amount. After discussing this with Ally, I took my vehicle to an Ally affiliated dealer and the buy-off was only $ - more than my residual. I truly have a major issue with Ally marking up a car where they agreed to take a predetermined amount just because they can but, I have an even larger concern about the legality of charging different companies large varying amounts to encourage business to go back to their partners. It halts competition and injures consumers and consumers choice.


wear and tear and damages upon return of the vehicle. This information was to allow me to make the best financial decision for myself as a consumer. If I was to owe a lot of money due to the low equitable position, I may have decided to keep the car. If there was little to no assessed damages, I would considered returning the vehicle and buying a new car. After hours on the phone with no result, I was given only - options, buy the car from Ally at my residual or return it to the dealer and have any assessed damaged levied upon me days after the car return with no ability to discuss or negotiate the cost. I was left with no choice by Ally again. It has to be possible to have the car appraised before you return it but, they did not allow that to happen. These choice-limiting, consumer-injuring tactics ca n't be ok and should be illegal. I will definitely avoid Ally Financial ( www.ally.com/auto or - ) in the future. To be clear, other leases with other financial institutions I have had were no problem to end.