Consumer complaint received 2024-04-08 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: VA

Complaint narrative:
I believe I am the victim of bank/loan fraud from either the dealership where I bought my vehicle, and/or XXXX Bank, who is financing my auto loan. 

I bought a new XXXX XXXX  XXXX for about {$56.00}, XXXX from the following dealership : XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXXXXXX I was there the week prior to the purchase and the salesman was a little rude. Fast forward and I came in to test drive a truck they had and I ended up placing a deposit on XX/XX/XXXX for {$500.00}. I told the salesman that I would be in the next day to pick up the truck. The next morning I notified him that I needed to order a cashiers check from XXXX, where my savings account is located. I told him XXXX said it would take at least 2-3 business days to receive in the mail even with the priority mail option. The salesman told me that if I did not come in to get the truck by XX/XX/XXXX that they would revoke the deposit and I would not be able to buy the vehicle. I did not like this, as it takes most people some time to get a cashiers check or move money around. They were even more rude and unprofessional than before. I mentioned that it was not right and that I dont even want to buy from them anymore. They became nicer and said the truck needs to be out of the dealership by XX/XX/XXXX and that I would have to sign a promissory note that I would pay when I receive the cashiers check in the mail. I agreed and showed up on XX/XX/XXXX to purchase the vehicle. They ran my finance application and came back with 8.62 % for 3 years with XXXX. While talking with the accountant/finance manager, I told him I did not want an extended warranty. He ended up being very pushy and was rude like the other employees. I looked at numbers but did not quite understand them and he ended up talking me into an extended warranty because the agreement had a full refund if cancelled within 30 days from purchase. The very next day on XX/XX/XXXX I received the cashiers check, drove to the dealership, and gave them a {$40000.00} down payment from the cashiers check. 

I got the truck and extended warranty and about 2 weeks later I called to cancel and they were pushy and rude again and kept trying to talk me into not cancelling. I ended up emailing them and I was sent a cancellation form and sent it back to be cancelled on XX/XX/XXXX. I gave them my account number, name, bank info, and bank address where the extended warranty refund check should be sent. I did not hear anything after that from the dealership, so I emailed around XX/XX/XXXX and the dealership told me that the check was sent on XX/XX/XXXX and they gave me the check number. I was told by both XXXX and my dealer that the check could take 7-10 business days to be received. I contacted XXXX and my dealer about once every 2-3 days. XXXX kept telling me they havent received the check yet. My dealer was unable to help me as well. On about the XXXX business day, XX/XX/XXXX, I called my dealer again. My dealer ended up finally telling me, after being sent to voicemail a bunch of times, that the check cleared on XX/XX/XXXX. I then called XXXX and asked them if they received the check yet, and they told me they havent. I then mentioned the dealership told me they called XXXX, and XXXX would not give any information on the matter, but that the check cleared on XX/XX/XXXX and I want to know where my money is. I was placed on hold for 15 minutes and then told that they found the money but it hasnt been accredited yet to my account and would take 60 days to be applied to my account. Keep in mind, my interest rate is 8.62 % on just under {$21000.00} ( {$4000.00} of which is extended warranty ) and its accruing this whole time. This person tells me that the interest will be backdated and adjusted to the date the check was dated. I emailed the dealership back and notified them of this matter and my frustrations. 

On XX/XX/XXXX I received an email from the dealership saying that their rep called XXXX and was told the money was sent to Ally Financial and posted to the wrong account and that my money would be applied to my account on XX/XX/XXXX. I was just on the phone with XXXX for another 37minutes and was told that they dont know where my money is and that they have no record of my dealership contacting them. I asked to speak to a manager and file a formal complaint, and it took a little while to get to a supervisor. They ended up sending me to her voicemail and said she would call right back. Its been an hour and Ive received no call. I left all the information for them on the voicemail. 

I dont know if the dealer is lying, XXXX is lying, Ally Financial is lying, or any combination of the above, but clearly something is going on and I am fed up. My interest is accruing daily and if the check hasnt even been received then I am being screwed. I cancelled on XXXX and the interest should stop then, since I have XXXX  XXXX  this whole time. What happens if they never even receive the check for months because of this XXXX XXXX? I deserve interest refunds on that and for all these troubles. The worst part is if things become worse I cant sue and would have to go to arbitration with the dealership since it was in a clause in the extended warranty contract. I just want my money and nobody can help me and I feel like everything is deceptive or just plain disorganized. Please help me if you can! I would never recommend XXXX or XXXX XXXX again to anyone! The only reason I didnt buy elsewhere was because the vehicle I wanted for the price point was extremely hard to find, and I needed a new one because 2 weeks before my purchase I was T-Boned and totaled my car. I appreciate any help, consideration, or if anyone reads this. Thank you. 


Update : As of XX/XX/XXXX the money still has not posted to my XXXX account. XXXX can only be contacted by phone it seems and they are completely useless, and when I asked to file a complaint and also to figure things out with the supervisor they transferred me to her voicemail. I left a message and never received a response. It's been over a week now. I notified XXXXXXXX XXXX that I have not received the money in my account at end of business day on XX/XX/XXXX. I am being told that Ally Financial is holding my money, which they have no reason to, for no reason and I am being charged interest by XXXX. This seems like bank fraud to me and I am contacting a lawyer currently. 

I can send more info and documents/proof if needed.

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