Consumer complaint received 2021-03-10
Company: ALLY FINANCIAL INC.
State: FL
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Changes in terms mid-deal or after closing

Complaint:
I received a preapproval for XXXX with a 2.6 % interest rate, but due to weather concerns the check was delayed by XXXX. Did preapproval through the dealership website with equal rates, so went to the dealership anyway to purchase vehicle. When the dealership did the credit application the DOB was incorrect and told them to correct it. Was told that it would be prior to moving forward. During the finance process, different terms were established even though we were told we wouldn't have to put any money down. Advised the best they could do would be a 72 month contract with similar rates. Instead of a low interest rate it was actually increased to 13 % and the terms of the car were changed well because we told them we would not be willing to go past XXXX. It was a lot of switching around but ultimately, we thought we were still getting the original terms. The purchase happened on the XXXX, and I reviewed the paperwork because the whole process was off putting. Upon the review I discovered that the DOB was never actually corrected, so I waited to the next business day so we could resolve the issue. Before returning to the dealership I received the original preapproval check and returned to the dealership in good faith to fix the mistakes that were made. They advised that since the paperwork was already submitted to the financial institution they selected ( Ally Financial ) there was nothing that could be done. Unsatisfied I left the dealership to only be called a few minutes later by the XXXX. Convinced by the XXXX to return, I again returned to the dealership only to waste more time with pointless details that Ally financial should be willing to work with us to get matter resolved. Later that same night on the XXXX I called Ally financial only to be told that they did not have my application package yet and there was nothing they could do. They could not even notate the account even though they could see my information in the system. 

I called every day since only to discover that instead of calling me before approving the funding, they actually went ahead and accepted the transaction which should have been voided due to the incorrect data contained in the application as well as being an expense I could not reasonably afford. The contract was changed to such an extent that the car was not worth the value I would have to pay. I sent emails to both the dealership and Ally financial with no response. I received a call from the dealership a few days later, thinking that they finally wanted to go over the transaction, I prepared everything I had. Only to realize it was the salesman calling to see how I was loving the car. 

I have reached out to both the dealer and Ally several times with no responses, and I also discovered my credit was again pulled on XXXX which I did not authorize. Any advice would be greatly appreciated.

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