Consumer complaint received 2026-05-29 00:00:00
Product: Vehicle loan or lease — Lease
Issue: Problems at the end of the loan or lease — Problem with paying off the loan
Company: ALLY FINANCIAL INC.
State: FL

Complaint narrative:
I am submitting this complaint regarding Ally Financials handling of the insurance proceeds related to a totaled leased vehicle and its refusal to provide a transparent accounting regarding the application of those proceeds under the lease agreement. I leased a XXXX XXXX XXXX in XX/XX/XXXX through Ally Financial. The vehicle was later declared a total loss following an accident. The insurance carrier handling the claim was XXXX XXXX XXXX. Prior to the insurance company issuing payment, I directly contacted Ally Financial and requested a payoff amount for the lease. On XX/XX/XXXX, Ally Financial provided me with a written payoff amount of {$30000.00}. Afterward, XXXX XXXX initially offered a settlement amount of approximately {$33000.00}. I disputed the valuation, and the settlement amount was ultimately increased to {$36000.00}. During discussions with XXXX XXXX claim adjuster, I was advised that once XXXX XXXX received the payoff from Ally Financial, any difference between the payoff amount and the settlement amount would be sent to me. However, I later learned that Ally Financial, through XXXX, allegedly did not provide XXXX XXXX with an actual payoff statement. Instead, XXXX XXXX received a Letter of Guarantee requesting that the entire settlement amount of {$36000.00} be remitted to Ally Financial. I subsequently contacted Ally Financial and requested an explanation as to why the full settlement amount was retained despite the prior payoff quote of approximately {$30000.00}. Ally Financial advised me that pursuant to Section 39 of the lease agreement, it was entitled to retain the insurance proceeds. My concerns are as follows : 1. Ally Financial never provided me with a transparent accounting showing how the insurance proceeds were applied under Section 39 of the lease agreement. 2. Ally Financial never provided XXXX XXXX with what appears to have been a traditional payoff statement despite previously providing me with a payoff amount substantially lower than the final insurance settlement. 3. Ally Financial appears to have learned the exact settlement amount from the insurance company and then requested the entire settlement amount rather than disclosing the actual payoff/accounting calculation. 4. The lease agreement references credits, adjusted lease balances, unearned rent charges, prepaid depreciation, and potential refunds where credits exceed amounts due, yet Ally Financial has refused to provide a detailed reconciliation or ledger explaining why no refund was owed. 5. I believe Ally Financials handling of this matter lacked transparency and may constitute unfair or deceptive consumer financial practices. I am requesting the following : * A full accounting ledger and reconciliation under Section 39 of the lease agreement * Documentation showing how the insurance proceeds were applied * Copies of communications relating to the payoff demand * Clarification as to why the entire insurance settlement amount was retained despite the prior payoff quote * Investigation into whether Ally Financials practices regarding leased vehicle total loss settlements are compliant with applicable consumer protection laws If Ally Financial retained insurance proceeds in excess of amounts properly due under the lease agreement, I request reimbursement of those funds and any related amounts resulting from Ally Financial 's unjust enrichment I respectfully request that this matter be reviewed and investigated. XXXX XXXX

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