Consumer complaint received 2022-08-18
Company: ALLY FINANCIAL INC.
State: MO
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Fraudulent loan

Complaint:
XX/XX/XXXX I went up to XXXX XXXX to get a vehicle that was advertised for {$24000.00} on their website because I needed a vehicle for work that had to meet specific criteria. I met with the salesman and decided to pursue the vehicle and was then taken to the finance department. I left with the car that evening without signing any paperwork because the finance manager stated that he would be working on getting me a better deal than what was being presented and stated that he would contact me the following day to close the deal. He printed off a 60 temporary tag and I left with the car that evening. On XX/XX/XXXX I contacted XXXX XXXX in regards to the closing of the vehicle after not hearing back from him and we scheduled to meet the following morning to complete the documents for the car. As we were going through the fees, disclosures, and warranties, I questioned the manager about the price of the car and the advertisement and he stated that the {$24000.00} was the lowest price but it could go up from there. I even requested the best warranty on the vehicle because it was a $ 25 month difference but was denied by the manager because he stated Ally would not finance a higher payment than {$690.00}. I informed him that my payments should be lower but he insisted that this was the best payment he could obtain for me. I questioned the manager and asked the total of the vehicle after all the add-ons and was informed the total was {$28000.00} which was a true bait and switch from what was being advertised. I was baffled because I had a better credit score and Ally Bank is the company who financed my first vehicle. I also felt obligated because I had the car for over 4 days by that time. My XXXX XXXX was much better this time and my first car was almost paid off. I signed the closing documents with all the add-ons for {$28000.00}. I was informed that my paperwork would arrive in the mail in 30 days. I received the Certificate of Title and Application For Missouri XXXX and License from XXXX XXXXXXXX for {$28000.00} as greed. The only documentation from Ally Financial that was received were denial letters. When I logged into my online Ally account to make the initial payment, after 60 days, the original price of the car had risen to {$35000.00}. I made the initial {$690.00} payment but I reached out to Ally Financial via email and informed them of the situation on XX/XX/XXXX and they responded stating they were not involved in the pricing and negotiation nor did they acknowledge the situation. On XX/XX/XXXX the salesman from XXXX XXXX contacted me for a referral and I informed him of the spike in the price of the car sold to me. He stated he would pass my information along and someone would contact me back regarding this matter. I have not heard from any representative regarding this fraud. On XX/XX/XXXX, the CEO of Ally Financial received the notice of the situation ( tracking XXXX ) On XX/XX/XXXX, I requested Ally Financial to send me the documents that were associated with the financing of my car and their response was for me to call them regarding the matter of the situation. They have since then turned off the email correspondence and are trying to force me to call them when I initially requested written correspondences. They seem to have a conflict of interest and their hands are unclean in this matter as well. I continue to receive collection attempts and credit reports with no actions or acknowledgement of the illegal fees, charges, and contract alteration. The car was sold for over {$11000.00} than what was advertised for which it now has an interest rate of 12.74 % on a 75 months term. I did not agree or consent to this contract and both XXXX XXXX and Ally Financial are harming me in this situation, which may be race related illegal actions. XXXX XXXX financial manager had a deceitful sales tactic by conditioning me to accept the monthly payments based on fraudulent material alteration of the contract. The net price of the car should have been {$24000.00} and {$28000.00} total. He stated that no one wanted to finance me other than Ally but he did not reveal that he was requesting almost {$12000.00} over the advertised price. My options were limited because of his greed to sell the car at a higher price than agreed upon and Ally XXXX are involved and/or turning a XXXX eye to this serious matter.

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