I have a question about credit reporting for a lease. In my previous 4 cars that I leased with Ally Financial they only reported the amount of my lease payments in total and as I made the payments, my "debt" amount decreased. Normal -- right? When I turned in my old car I was told that all GM cars were now being financed through GM Financial. With GM Financial they report my balance as the value of the car of $35,000 not the $17,000 that my payments would total. When I called GM Financial, the first person I spoke with could barely speak English and this person had an American accent (the education system in this country is allarming). Her supervisor acted like he didn't understand my question, and he had to put me on hold and ask several people and "they" all told him that this was correct. I was wondering for those who lease with others, how is your "total" debt reported to the credit bureaus on your car lease. Before I start writing a nasty letter to the head of GM Financial and the Consumer Protection Bureau, I wanted to make sure that GM's way of reporting is correct and that Ally just reported it differently. Thanks.
