Date Received: 2020-08-21
Issue: Problems at the end of the loan or lease
Subissue: Termination fees or other problem when ending the lease early
Consumer Complaint: This complaint is related to GM Financial XXXX, address XXXX XXXX XXXX XXXX TX, XXXX. GM Financial is overcharging and passing on unfair charges to its consumers. This unfair charge is called the " Disposition fee. '' After collecting the payoff amount in full, taking the lease vehicle back, charging for excess wear and use charge, GM still charges the consumer a " disposition fee '' so they can prepare and sell the vehicle. After the consumer returns the vehicle to its owner, the owner is charging the consumer to sell the vehicle via an auction. In other words, the consumer is responsible for a fee, so the owner does not have to absorb the cost. Even after purchasing and leasing the third GM vehicle, this has not come up before, because " The Deposition Fee '' was waived for purchasing or leasing another GM vehicle. However, the " Disposition Fee '' is not waived if the consumer does not purchase or lease another vehicle from the same company. In other words, the consumer is penalized for not purchasing or leasing another GM vehicle for any reason, i.e. the consumer does not want to purchase or lease another vehicle, the consumer can not afford to purchase or lease another vehicle, etc. Finally, even after executing three purchasing transactions with GMC, we have not been aware of the " Disposition Fee ' because it has not been explained or pointed out appropriately in each lease agreement. It has not explained either the " Disposition Fee '' is a kind of fee that is subject to additional taxes which resulted in an additional {$40.00} charge. Thank you
Company Response:
State: WI
Zip: 53051
Submitted Via: Web
Date Sent: 2020-08-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-17
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Investigation took more than 30 days
Consumer Complaint: I made a payment arrangement with GM Financial on XX/XX/2020 for my XXXX payment which was due on XX/XX/2020 and for my XXXX payment due XX/XX/2020, both to be paid on XX/XX/2020. I expressed during the XX/XX/XXXX arrangement that my payment tardiness was due to Covid-19 related issues. I gave them my checking account and routing information to secure payment arrangement. On XX/XX/XXXX and XXXX I received notices that my credit report had been updated and my credit score dropped 41 points because I'd been marked with a 30 day late on my credit reports. I called GM Financial to discuss the matter and asked them to remove the late payment because I believe I'm protected under the cares act that states : If your lender does make an agreement or accommodation with you : How your lenders report your account to credit reporting agencies under the CARES Act depends on whether you are current or already delinquent when this agreement is made. These reporting requirements apply only if you are making any payments required by the agreement. If your account is already delinquent and you make an agreement, and you bring your account current, the creditor must report that you are current on your loan or account. This CARES Act requirement applies only to agreements made between XX/XX/2020 and the later of either : 120 days after XX/XX/2020 or 120 days after the national emergency concerning COVID19 ends. GM Financial stated during the XX/XX/2020 phone conversation I initiated that it was up to their discretion as to how they report late to the credit reporting companies and that their specialists will not reverse the 30 late.
Company Response:
State: CA
Zip: 952XX
Submitted Via: Web
Date Sent: 2020-08-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-17
Issue: Getting a loan or lease
Subissue: Problem with additional add-on products or services purchased with the loan
Consumer Complaint: I test drove a XXXX XXXX and signed to buy. The next day it would not start. The dealer picked it up. It's been 21 days. I think it may have been in a flood so there are un fixable electric issues
Company Response:
State: TX
Zip: 79106
Submitted Via: Web
Date Sent: 2020-08-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-17
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Investigation took more than 30 days
Consumer Complaint: I see multiple 30-120 days late marks which is a clear violation of my right under the FCRA. The company has never responded to any of my attempts to obtain any proof or documentation that will prove this account is being reported accurately.
Company Response:
State: MA
Zip: 021XX
Submitted Via: Web
Date Sent: 2020-08-17
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-15
Issue: Problems at the end of the loan or lease
Subissue: Excess mileage, damage, or wear fees, or other problem after the lease is finished
Consumer Complaint: Traded in a leased XXXX XXXX when purchasing a XXXX XXXX in XX/XX/XXXX ( another GM product ). Per GM, lease disposition fees are waived if borrower trades in for another GM product. Never should have been charged this fee. Never got a bill, never got a call, never went to collections, no correspondence whatsoever. On or about XX/XX/XXXX, 8 months after the transaction, our account was written off by GM Financial due to " Natural Disaster '' per my credit report. It is my firm belief that GM Financial did this to access relief money at my expense, irreparably harming my credit and costing me hours of time and potentially thousands of dollars in attorney fees to address a negative mark on my credit report that should have never been there I the first place. I demand that this is removed from my credit report immediately, and further, I implore CFPB to fully investigate GM Financial 's unauthorized and fraudulent charge off and reason code for said charge off, as they are clearly trying to take advantage of consumers, federal funding and the current situation to benefit themselves at the expense of consumers.
Company Response:
State: TX
Zip: 75220
Submitted Via: Web
Date Sent: 2020-08-15
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-15
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: Americredit/GM Finanial marked my credit late 30 days in XX/XX/2017. Traded in the car at the dealer ship and the dealership didnt pay off the car right away because of a title issue! At the time of the trade the payment was not late! Thanks, XXXX XXXX, XXXX.
Company Response:
State: MD
Zip: 21221
Submitted Via: Web
Date Sent: 2020-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-14
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: I leased a vehicle through GM financial in XX/XX/XXXX. It was a three year lease - I kept current on the lease until the end of the lease ( XX/XX/XXXX ). I returned the vehicle, all payments current. In XX/XX/XXXX, I received a notification that I had delinquent marks on my credit report by GM financial. They had marked my credit for late payments for XX/XX/XXXX-XX/XX/XXXX. In a panic, I contact GM financial. I was told it was an error on GMs end and that I would receive a letter and email to send to the credit reporting agencies to get the marks removed. They also indicated they would contact the credit reporting agencies on my behalf. Two weeks have passed and I have yet to receive anything in the mail or via email from GM financial, as promised. After checking my credit report, they have now marked XXXX late, which is also grossly inaccurate and negligent on their end. I contacted them again today to no avail and submitted a complaint via their website. I need this rectified, as GM is inaccurate reporting to the credit bureaus and damaging my credit without merit.
Company Response:
State: CA
Zip: 91601
Submitted Via: Web
Date Sent: 2020-08-14
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-13
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: GM Financial sent us a bill at the end of our car lease that was not disclosed when we turned our car into the local dealership, XXXX of XXXX XXXX, who sold the original vehicle and originated the lease. The vehicle return was delayed for 2 months because of COVID-19. We moved house during COVID and GM Financial did not update our address. They subsequently sent a {$450.00} fee for the end of our lease that we did not receive as we moved and the bill was not forwarded by the USPS. GM Financial has now predatorily and very unfairly reported the payment as 30 days late and negatively affected my credit score. GM refuses to waive the negative credit reporting and understand that we had moved, we are dealing with a pandemic and we have two hard working taxpayers working from home trying to raise XXXX kids under XXXX while working. This is grossly unfair in the first place, but even more unfair that GM Financial refuses to correct its credit reporting.
Company Response:
State: NY
Zip: 105XX
Submitted Via: Web
Date Sent: 2020-08-13
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-11
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: How are you? During this COVID-19 i been diligently reviewing my credit and I was shocked when I reviewed my credit report and found late payment on the dates below from XXXX XXXX, XXXX XXXX, XXXX XXXX. I am not sure how this happened, I believe that I had made my payments to you when I received my statements. My only thought is that my monthly statement did not get to me, or the payment was not applied as fast as expected. I check my bank account and noticed that you deducted the money out of my checking account that on the month that you marked me late on my credit report.
Company Response:
State: MA
Zip: 02301
Submitted Via: Web
Date Sent: 2020-08-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-08-11
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: We paid off a lease of a XXXX XXXX XXXX leased with GM Financial when we initiated a second lease of the same vehicle with a newer model. We received paperwork at the time that indicated the previous lease had been paid off. In addition, as an existing GM Financial customer, I never received any emails, alerts, etc., even though their digital terms and conditions state they will send emails, text messages, and other communications I had opted into regarding ALL of my accounts. Unfortunately, I had removed the old account from my profile because I assumed it was old and already taken care of given I put more than {$6000.00} cash down on my new lease. My credit score was in the high 700s until this false claim hit my credit report this week -- sending it down more than 80 points according to XXXX. Any attempts to contact GM Financial have resulted in ridiculously long hold times followed with disconnection, or reaching a representative only to be given a different contact number. This issue on my credit score is over a paltry {$280.00}. How ridiculous! I will never lease with them again.
Company Response:
State: KY
Zip: 41011
Submitted Via: Web
Date Sent: 2020-08-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A