Consumer complaint received 2024-05-29 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Problem with additional products or services purchased with the loan
Company: ALLY FINANCIAL INC.
State: MS

Complaint narrative:
XXXX XXXX NOTICE TO PRINCIPAL IS NOTICE TO AGENT AND NOTICE TO AGENT IS NOTICE TO PRINCIPAL Re : Final Offer Amount due : XXXX Dear Corporation, I am writing to request an amendment to the contract we entered into regarding the purchase of a XXXX XXXXXXXX XXXX from XXXX in XXXX, TX. Based on the terms outlined in the contract, I signed a Consumer Credit Contract for the acquisition of the vehicle, conducted on CREDIT as stipulated in the contracts provisions. My credit card, as defined in 15 USC 1602 ( l ), was utilized to facilitate my participation in this transaction. The Contract was for a Finance Charge for the purchase of a motor vehicle on credit for the sum of charge {$35000.00} relating to my transaction that was represented as a positive dollar amount. Additionally, I want to highlight that the vehicle has been prepaid, which I believe further supports the feasibility of this amendment. 

Upon reviewing the terms of the contract, I initially made a down payment of {$5700.00} in cash. However, I chose to purchase the vehicle on credit according to the terms of this contract. I know that the financial asset is in fact my promissory note, which has been securitized and sold to investors on the securities and exchange commission without it be disclosed to the consumer. As per the contract, the consumer is entitled to full disclosure to everything pertaining to this contractual agreement. I request the restoration of my equity, titles, rights, and interests into the proceeds of the instrument that was used through the course of dealing. 


Its imperative to note that Allys refusal to accept payments unless in certified funds does not absolve them of their obligations under the contract. While Ally may have stipulated a preferred payment method, such requirement does not negate my right to utilize credits accrued through the contractual agreement. Law trumps policy. The contract explicitly outlines the terms of payment, and that I choose to purchase the vehicle on credit. Therefore, any attempt to restrict payment options beyond what is stipulated in the contract would constitute a breach of contract on Allys part. I would love to settle this matter without invoking arbitration. During this offer period, I reserve the right to exercise all claims, defenses, and remedies available to me under law. 

Its my understanding as articulated in the consumer credit contract and with full confidence in the credit rights extended to me by law, that I exercised my right to utilize credit for the procurement of goods and services for my family. Additionally, Ally has imposed restrictions on my account and violated my rights as a consumer protected under the constitution by reporting adverse entries on my consumer report even though I extended performance of my obligation under this contract as a good faith consumer should. 

Consequently, I am seeking remedy of my down payment of {$5700.00} and the entirety of sums disbursed pursuant to the contract {$6300.00}. 


Make refund check payable to Consumer at the address stated above. 


Thank you for your cooperation. 



Sincerely,

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