![]() To find a dealership, prospective borrowers can use Ally’s dealership locator tool available on the company’s website.Īlly Auto Finance Loan Application Details As we mentioned above, the application process for an Ally Financial auto loan mostly happens at the car dealership. Financing for vehicles up to 6 years old or with 700,000 miles, depending on collateralĪlly Financial auto financing is available for borrowers with prime and non-prime credit.Heavy-duty trucks, vans, and other commercial vehicles with special business equipment. ![]() Below are some of the vehicles Ally underwrites for commercial use, along with some of the available terms: Specialty Vehicle & Heavy Duty Truck Financingįor business owners who maintain vehicle fleets, Ally finances more than standard sedans. citizen, resident alien, or non-resident alienĪlly Clearlane is not available in Nevada, Vermont, and the District of Columbia. Cars and light-duty trucks less than 10 model years old.Car must not be a former police vehicle or taxi.Must be at least 18 years old (19 in Alabama).Here are some of Ally Clearlane’s requirements: In most states, this finance option includes gap insurance, which can help pay off the remaining balance of an auto loan if you total your car or someone steals it. Ally Clearlaneīorrowers who want to buy leased vehicles or refinance existing car loans may want to explore Ally Clearlane. Eligible vehicles can be up 10 model years old or have up to 120,000 miles. Annual percentage rate (APR) range: Based on current auto loan rates and your credit scoreĪlly says it does not finance Suzuki vehicles and that borrowers must have down payments in cash or trade-ins worth at least 5% of the vehicle’s cash price.Here are some Ally Financial auto loan basics: ![]() Ally’s auto financing portfolio consists of loans for new cars, used cars, and commercial vehicles. Since you get an Ally Financial auto loan from a dealership, Ally doesn’t disclose many of its loan details online. Instead of applying for a car loan directly through Ally, you find a participating car dealership and apply for a loan at that location. The process of financing a car through Ally is different from financing with many other big-name banks. Ally offers everything from checking accounts for personal banking to dealer financial services and corporate financing. Today, Ally Bank is the 20th-largest commercial bank in the U.S., according to 2021 data from the Federal Reserve. In 1919, the General Motors Acceptance Corporation (GMAC) started Ally as a way for auto dealers to buy inventory in bulk. Ally Financial has its roots in the auto industry. ![]()
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