Consumer complaint received 2023-01-17
Company: General Motors Financial Company, Inc.
State: FL
Product: Vehicle loan or lease
Sub-product: Lease
Issue: Getting a loan or lease
Sub-issue: Confusing or misleading advertising

Complaint:
Deceptive Advertising/Deceptive Sales Practices - On XX/XX/XXXX, I entered XXXX XXXX XXXX XXXX, VA to purchase the XXXX XXXX. XXXX, a division of General Motors ( GM ), was running a commercial ad for the XXXX XXXX with a lease payment of {$390.00} plus a down payment of {$3600.00}, taxes, and dealer 's fees. The same commercial ad stated the finance option was a .9 percent APR for 48 months. I was unaware of this commercial until the next day, XX/XX/XXXX. As a result, I signed a lease for {$740.00} for 48 months. I have excellent credit ( my score ranges between XXXX - XXXX ). I qualified for the promotion. It was not presented to me. On XX/XX/XXXX, I returned to XXXX XXXX and asked the finance director XXXX XXXX XXXX why he did not offer me the promotion. His response was, you must read the fine print, and it's a national ad. On XX/XX/XXXX, I wrote GM who referred me back to the XXXX General Sales Manager, XXXX XXXX XXXX. I asked XXXX XXXX why his sales and finance staff failed to mention the promotion for the XXXX XXXX. He responded that he had consulted with his regional manager, and they both agreed that XXXX does not have to honor XXXX 's promotion by telling me. 

Desired resolution is to void the existing lease and allow me to purchase the XXXX XXXX at the advertised rate of .9 percent APR. This was the best finance option in XX/XX/XXXX. Also, refund the difference between $ XXXX {$390.00} for the period I made these payments. 

XXXX XXXX did not offer a satisfactory resolution to my complaint. The options he presented were Option # 1- Return the car valued at {$36000.00} on XX/XX/XXXX and make a cash payment of approximately {$14000.00}. Option # 2- Or purchase the car in full, the XX/XX/XXXX payoff is {$49000.00} In XX/XX/XXXX, GM Financial increased my payment by {$51.00} for FL sales taxes. The new payment was {$790.00}. I called in XXXX, and the representative stated it is sales tax. After sending my XX/XX/XXXX letter to GM the {$51.00} sales tax was removed from my monthly payment. If I had not questioned this tax, I would still be responsible for the increased amount. Once the Truth-in-Lending disclosure is completed, can a finance company change the monthly payment? GM Financial does not provide an amortization schedule of how payments are applied, so it's difficult to know if the monthly payments are applied correctly. On XX/XX/XXXX, I was given a payoff balance of {$53000.00} after making 6 on-time payments and a down payment of {$1700.00}. The original price was {$53000.00} in XX/XX/XXXX. I have been given subsequent payoffs, but I do not trust GM Financial 's computation after they carelessly increased my monthly payment by {$51.00}. 

How many other customers have been affected by GM Financial 's coding or some other error, and customers are responsible for making an increased monthly payment? I believe there may be a widespread problem that needs investigation to ensure other Americans are not paying too much for their leased vehicles.

Company response to consumer: Closed with explanation