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Gmac Finance / ridiculous late fees!

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Contact information:
Staten Island
My husband and I have been driving cadilacs now for over 8 years. This past june the lease on our 2004 escalade was up. Due to a death in the family we were not in the market to lease another vehicle. (we are using my mothers car until her lease is up because we can not afford three car payments). Unfortunately we returnded the vehicle two weeks late due to mechanical problems with the other vehicle. But we did not just return it late we called mcguire cadilace to make sure it was okay. The women on the phone responded you guys are great customers they usually give you two weeks grace! Well a couple of months ago I received a bill for $1470.86. So obvioulsly I called and they said well we charge you a percentage of the lease for returning the car late! Mind you the truck was already sold at aution, it was in mint condition and I returned it with an automatic start which I installed myself. So I figured okay I am sure we could work this out, I offered to give them a months payment ($882.00) and they refused! They were willing to take of 10% and I refused. I feel like they are just taking advantage of us, basicly they are robbing their customers. With todays ecomnomical situation we are all feeling the crunch. Then I asked if we could set up a payment plan and the nasty women said we don't do that we will still turn over to collections. So as I see it there is no reason to pay what they say we owe if they are going to ruin my credit.

I would greatly appreciate any and all help you may be able supply!


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N  7th of Feb, 2009 by 
Agree Disagree 0 Votes
i have the same problem. my lease is 2 weeks late and they want to charge me 1067.00 for nothing. also charging me over milage, small crack in windshield, and regular wear. the amount is almost 8K for 2 more K i can buy the same exact vehicle and replace the one i returned. its bs and i need to try and fight it.
N  27th of Feb, 2009 by 
Agree Disagree 0 Votes
Never lease a vehicle...nothing but trouble. I used to work for GMAC and I have seen horrendous charges.
N  30th of Oct, 2009 by 
Agree Disagree 0 Votes

Gmac Finance - Unwarrent auto repossession
United States

Recently my son relocated. Being young and inexperienced, he misunderstood that filing a change of address with the USPS does not update EVERYONE's records. Since he stopped receiving payment invoices; he subsequently failed to make his truck payments. GMAC should have notified me, as the CO-SIGNER of the contract, of any missed or late payments. Because GMAC failed to maintain accurate records (they scrambled my address and lost my phone number that has remained unchanged for 20 years), they did not notify me of the account status. Our first indication of a problem was when they repossession the vehicle. Within 30 minutes of discovering the truck had been taken we attempted to pay all past due amounts. GMAC forced us to wait 36 hours before providing an amount. At that time we were informed we would be required to pay in addition to the past due amounts, an additional penalty of almost $500. We paid the ransom and retrieved the truck even thought THE REPOSSESSION OCCURRED BECAUSE THEY DID NOT MAINTAIN ACCURATE RECORDS on my contact information. Today I discovered there is a additional $450 fee on the account and they reported me to the credit bureau due to LATE PAYMENTS.

I have made numerous attempts to communicate with GMAC. I have filed two FTC complaints. NO RESPONSE. It is not enough that my tax dollars are required to keep this grossly incompetent organization in business. Now I am required to pay penalties because they can not manage a simple computer billing system.

Why would anyone ever buy a vehicle from Government Motors Company or finance through their loan shark business?
N  14th of Jul, 2010 by 
Agree Disagree 0 Votes

Gmac Finance - GMAC has added almost 1,500 to the price of the car
GMAC Finance
United States

My ex wife, unbeknownst to me, bought a car for her daughter by forging my name. We were divorced three years ago (september 2003) and the car was dumped in my parking lot with a note that said "I cant afford this car - its yours now". So I assumed payments. I had to file for bankruptcy because she hit me with quite a few bills - about $50, 000 - that I got stuck with in the divorce. When I filed bankruptcy I kept the car separate so that I could pay it off.

I called GMAC in September of 2004 to find out what the pay off was and how much the payments are and was told my their representative (I did not get her name, but it doesnt matter as when they write their "notes", they put in them anything they want) that I had 23 payments of 323.23 dollars left. Ive paid GMAC dilligently, every month, with last month being the final payment.

I called in today (August 25, 2006) to find out how to go about getting my title and was told that I still owe $1, 438.27 on the car. I explained what I had been told and he said (Clinton A - wouldnt give me his last name though I asked for it repeatedly) that there is no record of my call on that date. He went into great detail about the payment history and all sorts of missed payments, and something about a .50 cent a day charge on something to do with the original loan and I asked him to email me a copy of the payment history which he said he would do. He then got my current address and my email and told me he would NOT email me (as apparently GMAC doesnt do that sort of thing) but he WOULD mail it to me.

I want why GMAC has added almost 1, 500 to the price of the car and what I can do to make these weasels adhere to their original agreement.

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