Consumer complaint received 2024-04-03 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: ALLY FINANCIAL INC.
State: FL

Complaint narrative:
Predatory lending practices of Ally Finance.

Time of purchase and contract the XXXX XXXX purchased was sold with a clear clean title, XXXX factory lift on truck qualified for us to purchased extended warranty XX/XX/XXXX from XXXX XXXX XXXX to cover us outside the 90 day window. 
Prior to reaching the 90 day after purchase date, front differential blew off out from under the truck over the cab of the truck, bending the front wheels in different directions and cracking the left front rim and tire assemby. Confirmed this bent the frame of the vehicle, factory lift was not indeed a factory lift, warranty fraudulently quoted a new factory XXXX differential installed while it was a actually replaced with a salvage yard part traced back to the salvage differential confirmed not rebuilt resulting in loss of 4x4 capacity entirely. 

XX/XX/XXXX dealer still has not issued state license plate, referred to contact SC DMV to discover the vehicle had a title lien on it from the prior owner and bank which was not Ally Finance. Dealership sale agent confirmed, advised it had nothing to do with us or our financing. ( Legal representation hired ) XX/XX/XXXX dealership advised produce tag or returning truck with demand of refunded payments down-payment and cost of full rebuild of front end and maintenance. 
Tag was rendered a week later. 
Payment made each month ontime in full. 
XX/XX/XXXX Ally Finance blocked account from payments which continued through XXXX without any notification as to why, representive of Ally Finance confirmed this on our due date XX/XX/XXXX. 
During blocked payments Ally Finance implemented late fees and derogatory payment history on both the loan holder and co signers credit report. 
They stopped all billing and formal communication with loan holder and began collection calls to the co signer which included the late fees that they implemented during the time period they blocked payments. Rendering monthly billing statements to the cosigner at the loan holders address. 
End of XX/XX/XXXX letter addresses to co signer recieved at loan holder address advising account needs paid in fulled by midnight ( sameday letter recieved ) which included their accessed late fees. Must be paid to avoid repossession. 
Vehicle repossessed from loan holder XX/XX/XXXX. No other formal communication recieved by other party. 
Tag was collected from inpound returned to SC DMV sent to county tax accessor office which questioned why the vehicle was purchased in XX/XX/XXXX and registered almost 12 months later? Taxes paid on truck were paid XX/XX/XXXX and per accessor will be refunded since it was just registered a few weeks prior. 
All together this has been a night mare dealing with Ally Finance as the loan holder made every payment on time in full during a 7 month span after purchase with no drivability for much of the time, legally unable to secure a states license plate to find even after recieving the plate it was not registered for another 6 months without knowing until after the fact. The account was originally set up under a XXXX XXXX vs the loan holders correct name XXXX. At this point I even question if a co signer was needed. 
Non the less extremely predatory lending and fair credit reporting practices by Ally Finance.

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