Consumer complaint received 2025-12-04 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Title loan
Issue: Struggling to pay your loan — 
Company: ALLY FINANCIAL INC.
State: NC

Complaint narrative:
In XXXX of XXXX, I visited a XXXX dealership located in XXXX, North Carolina, with my mother. My intention was simple : I wanted to explore options for purchasing a reliable vehicle that would fit my budget and transportation needs. After arriving at the dealership, I was introduced to a XXXX XXXX, which I was able to test drive. The experience was positive, and I felt confident that I was making a responsible decision for my future. Unfortunately, what followed was a series of events that have left me in a financially devastating situation. 
After the test drive, the dealership representatives sat me down with a large stack of paperwork. The way they presented the documents and explained the terms made everything sound reasonable and manageable. They spoke in a reassuring tone, emphasizing that this was a great deal and that I would have no trouble keeping up with the payments. At no point during this process did they clearly disclose the true interest rate, the total cost of the loan, or what my monthly payments would realistically look like. I trusted their guidance because I believed they were acting in good faith and that the dealership was a reputable business. Based on their explanations, I signed the paperwork, thinking I was making the right choice. 
It wasnt until much laterwhen I showed the paperwork to another dealershipthat I realized the severity of the situation. The staff at the second dealership were visibly shocked when they reviewed my loan documents. They pointed out that I had been placed into a loan with an interest rate of 20 %, which is extraordinarily high for an auto loan. They also noted that my monthly payment was set at {$1000.00}, an amount that is far beyond what I can reasonably afford. Hearing this information made me feel physically sick. I had no idea that I had agreed to such extreme terms. The dealership never explained these details to me in a way that was clear or transparent. Instead, they rushed me through the signing process and assured me that everything was standard and fair. 
This loan has placed me in an incredibly difficult financial position. I am now burdened with a payment that consumes a significant portion of my monthly income, leaving me with very little for basic living expenses. The stress of trying to keep up with these payments has been overwhelming. I have experienced XXXX, sleepless nights, and constant worry about how I will manage my finances. What was supposed to be a positive step toward independence has turned into a nightmare that affects every aspect of my life. 
I believe this situation constitutes a predatory lending practice. The dealership took advantage of my trust and lack of detailed knowledge about auto financing. They failed to provide full disclosure of the loan terms, and they did not ensure that I understood what I was signing. Instead, they used high-pressure tactics and misleading explanations to push me into an agreement that benefits them at my expense. A 20 % interest rate on a car loan is not only unreasonableit is exploitative. It is designed to trap consumers in a cycle of debt, making it nearly impossible to pay off the loan without severe financial hardship. 
When I reflect on the experience, several red flags stand out. First, the dealership never gave me time to review the paperwork thoroughly or ask questions. They presented the documents in a rushed manner, creating a sense of urgency that discouraged careful consideration. Second, they did not provide a clear breakdown of the loan terms, such as the annual percentage rate ( APR ), the total amount I would pay over the life of the loan, or the exact monthly payment. These are critical pieces of information that any consumer needs to make an informed decision. Third, they framed the deal as something beneficial and affordable, which was completely false given the actual numbers. 
The impact of this loan goes beyond financial strainit has affected my mental and emotional well-being. I feel deceived and taken advantage of. I trusted the dealership to act ethically, and instead, they exploited my trust for profit. This experience has made me wary of future financial transactions and has shaken my confidence in my ability to make sound decisions. It is deeply upsetting to know that businesses can operate in this manner without accountability, leaving consumers like me to bear the consequences. 
I am seeking legal aid because I believe I have been the victim of predatory lending. I need guidance on how to address this situation and protect myself from further harm. Specifically, I want to know if there are legal remedies available to challenge the terms of this loan, hold the dealership accountable for their actions, and prevent this from happening to others. I am also interested in exploring options for refinancing or restructuring the loan in a way that is fair and manageable. 
In conclusion, this experience has been devastating. What should have been a straightforward car purchase turned into a financial trap that has caused significant hardship. The dealerships lack of transparency, combined with their misleading explanations and high-pressure tactics, resulted in an agreement that is grossly unfair and harmful. I am committed to pursuing justice in this matter, not only for myself but to help ensure that other consumers are protected from similar practices. I appreciate any assistance or advice that can be provided as I navigate this challenging situation.

Company response to consumer: Closed with explanation