Consumer complaint received 2022-07-13
Company: ALLY FINANCIAL INC.
State: PA
Product: Payday loan, title loan, or personal loan
Sub-product: Title loan
Issue: Charged fees or interest you didn't expect

Complaint:
According to 15 U.S. Code 1601 ( a ) Informed use of credit The Congress finds that economic stabilization would be enhanced and the competition among the various financial institutions and other firms engaged in the extension of consumer credit would be strengthened by the informed use of credit. The informed use of credit results from an awareness of the cost thereof by consumers. It is the purpose of this subchapter to assure a meaningful disclosure of credit terms so that the consumer will be able to compare more readily the various credit terms available to him and avoid the uninformed use of credit, and to protect the consumer against inaccurate and unfair credit billing and credit card practices. 
On or about XX/XX/2021 i allegedly signed into agree with Ally Financial XXXX XXXX XXXX XXXX. Over 1 year later i noticed that the sale tax for the purchase was excessive the total amount for the vehicle was {$24000.00} and the tax sale for New Jersey at the time was XXXX at which the sale tax amount should be {$1500.00} Ally Financial and/or XXXX XXXX XXXXXXXX rather charged me {$1600.00} for the sale tax. This wrongful sale tax was converted over into the amount financed within the truth in lending disclosure. The total amount for the amount financed within the truth in lending disclosure was {$19000.00} this amount however can not be accurate as mandated by the TILA ACT because the wrongful tax sale charge is included which violates the TILA ACT because it protects me from inaccurate and unfair practices. 
On or about XX/XX/2021 i allegedly signed into agree with Ally Financial XXXX XXXX XXXX XXXX. Over 1 year later i noticed that the sale tax for the purchase was excessive the total amount for the vehicle was {$24000.00} and the sale tax for New Jersey at the time was XXXX at which the sale tax amount should be {$1500.00} Ally Financial and/or XXXX XXXX XXXXXXXX rather charged me {$1600.00} for the sale tax. This wrongful sale tax was converted over into the amount financed within the truth in lending disclosure. The total amount for the amount financed within the truth in lending disclosure was {$19000.00} this amount however can not be accurate as mandated by the TILA ACT because the wrongful tax sale of {$1600.00} is included which violates the TILA ACT because it protects from inaccurate and unfair practices. The total amount financed with all prior items added including the outstanding balance and the " CORRECT SALE TAX '' would be {$18000.00} rather than XXXX an {$1000.00} difference. I would have not signed the contract had i realized this Fraud in the inducement. 
Ally Financial violated the tila act because it created and furnished an account with third parties credit reporting agencies experian, XXXX and XXXX as a consequence of my late payments. However the " Retail Installment Sale Contract Simple Finance Charge '' stated that " if payment is not received in full within 10 days after it is due, you will pay 5 % of the part of the payment that is late. If the vehicle is for primarily personal, family, or household use and the cash price is {$10000.00} or less, the charge for each late payment will be {$10.00}. '' Ally Financial unfairly deviated from the contract by creating, furnishing, and disseminating my late payments and debt to XXXX parties without my knowledge or consent or court order. If i would have been informed that Ally Financial would create, furnish and disseminate this info to the above XXXX parties i would have not signed into contract agreement as i allegedly did.

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