Consumer complaint received 2023-04-27
Company: ALLY FINANCIAL INC.
State: NJ
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Fraudulent loan

Complaint:
The week leading up to purchasing my vehicle I was doing online research verifying the make and model car that I wanted. I Discovered a car that I like at XXXX XXXX and I also liked the value they were offering for my trade in vehicle. XX/XX/XXXX th was a Saturday that I had off from work. I Used that time to go to XXXX XXXX and look at the car and maybe test drive it. At this point I still wasnt sure if I wanted to purchase the vehicle or not. Upon entering the showroom, I was approached by a salesman named XXXX XXXX. I told him I was thinking about buying a car and showed him the car I wanted to learn more about. He asked me if I wanted to take it for a ride and I replied sure. He got my drivers license and gave me the keys to the car. I drove up and down the street of the dealership and brought the car back to the dealership. XXXX was awaiting my return. He asked me to sit down at the desk so he could give me more information about the vehicle. He got some basic information from me then XXXX showed me some numbers regarding the price and what it would be monthly. At that point I told him we were way to far off and I didnt want to waste his time. He adjusted the numbers to make them more appealing to me. I told him that we were still to far apart and I didnt want to waste his time. XXXX then asked his manager to come to his desk and he introduced me to his manager. I told the manager my situation and the prices XXXX showed me were not close to what I was willing to spend at the time. The manager told me he could make it work for me and asked what amount of money I would be willing to spend. I avoided telling him a number because again we were to far off on the price. Manager said he had to go check something and came back with a slightly lower number. This happened several times while XXXX and I made small talk about common interests. Eventually the manager came back and started asking me about my trade in. I answered all his questions and he followed with more questions like if I were to lower the price would you be interested etc. I said yes I would be interested if the price made sense with my budget. When he came back again he showed me numbers on a paper regarding my trade in but the numbers were significantly lower than the website told me prior to me going to the dealership. I explained to him that the number for the trade in he showed was a lot lower and he started increasing the trade in price slightly higher than his previous number. This went on for several minutes. After I agreed to a number I would take for my current vehicle he walked away again leaving me and XXXX talking. When manager came back he showed me what he said was his lowest number for the price of the car and the most he could give me for the trade in vehicle. He also showed me a list of banks that I could use for the transaction. At this point I have been at XXXX desk for an hour or more and decided that I would purchase the car. The back and forth continued while gathering bits of information from me upon every time he returned. I did not have the vehicle I was trading in with me so I told him I would have to return the following day to do the transaction. I was told that wouldnt be necessary and to bring the trade in vehicle the following day. For the next hour I was told about extended warranties and gap insurance amongst other things. They showed me my final cost and brought out a contract. After wrapping up the sale XXXX and I went out to the lot where he put temp tags on the new car. XXXX then followed me to my house in the car I just purchased and I drove my work truck home. When we arrived at my house I dropped my truck off and drove XXXX back to the dealership in the car I just purchased from XXXX XXXX The following day I brought the trade in to auto lenders and signed up for extended warranty that was being forced on me to purchase while I was there. That concluded the purchase of the vehicle.

During my transaction with Autolenders liquidaton center I did not receive my full contract disclosures as per Regulation Z, 15 USC 1026.23 Right of rescission & 15 USC 1026.23 ( b ) ( XXXX ) Notice of right to rescind. Not one employee at auto lenders ensured full TILA was disclosed prior to requiring a signature and did not give me any notice regarding my right to rescind. I was not presented with the full TILA disclosure prior to signing any documents. Instead I was rushed and not thoroughly or truthfully informed resulting in me signing a contract I was not fully disclosed on. My credit was run multiple times resulting in lowering my credit score, causing me distress for months. The entire transaction was misrepresented and violates the laws put in place to protect consumers such as myself. 
As of XX/XX/23 XXXX XXXX XXXX XXXX and ally bank financial have received my original notice of rescission putting them on notice, a second notice regarding upcoming default due to no response to my affidavit and then as of recently XX/XX/23 they have recieved their default notice for my claim of {$44000.00} USD in damages and violations, and as of XX/XX/23 no action or response has been provided by XXXX XXXX XXXX XXXX or ally bank financial.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation