Ally auto finance

Ally Auto Finance: In-Depth Review For 2019

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Ally Bank Auto Financeis the branch of Ally Financial Inc. that extends car loans to customers through dealers in its network. With roots dating back to 1919, Ally Auto Finance has been in the auto lending business for close to 100 years. While it started as GMAC, a division of GM, and the company was transformed into Ally in 2009.

As of 2016, Ally served 18,000 auto dealers in the U.S. and over 4 million of their customers. It is an online bank without physical locations and aims to differentiate itself with competitive rates and helpful customer support.

Interested in finding out if Ally Auto Finance is the best lender for your next vehicle? Here’s an in-depth review of their products and our verdict.

Ally Auto Finance Loan Products

Ally offers financing for personal vehicles, business vehicles, and RVs. It can also help customers with the lease-end process. Here’s a brief overview of the highlights of each loan product. Read this for an in-depth guide of Ally’s auto loan application process.

Ally Personal Vehicle Financing

Following are the financing options Ally offers to customers who need a vehicle for personal use:


Apply with a dealer who offers Ally financing to get your rates and terms. Compare them with other lenders. If it’s the best offer, sign up and pay off your loan in monthly payments. Manage your account online and through the Ally Auto app.

Ally SmartLease

Lease new or pre-owned vehicles with Ally by applying at a participating dealer. If the car has been previously owned, it must be under four years old with less than 75,000 miles and a clean history report. Also, the lease comes with an automatic “Guaranteed Auto Protection” and the option to purchase maintenance coverage.

Buyers Choice

This is an option that combines the benefits of buying and leasing. Available in all states except Nevada, Buyer’s Choice gives you a “Special Prepayment Date,” which is either 48 or 60 months after you initiate your loan. On that date, you have the option to sell your vehicle back to Ally at a predetermined price (minus any excessive wear and tear). In addition to, you can also trade in your vehicle with the dealer at any time during the contract.

Balloon Advantage

With this program, you can move a large portion of your loan amount to the end of the contract to lower your monthly payments. Additionally, with this program, Balloon Advantage is available in all states except for Maryland, New Hampshire, Nevada, North Carolina, and Pennsylvania. Further, eligible vehicles include all new models by Chrysler, Mitsubishi, and GM, and used vehicles from the last four years (excluding Saab and Suzuki).

With this in mind, all of these offerings are only available through a dealer that offers Ally financing.

Ally Auto Business Finance

Ally also has the following options for businesses:


Traditional financing for commercial vehicles that will be used exclusively for business. In addition, the title will be in the name of the business.


A closed-end lease for new passenger cars, light- or medium-duty commercial trucks that are current or prior model years. Also, the title will be in Ally’s name, and the vehicle can be for personal or business use.


An open-ended lease for vehicles that will be used for business more than half of the time. In addition to, the title will be in Ally’s name, and qualifying vehicles include makes or models up to two years old. One main difference between this and the SmartLease is that you are responsible for the residual value when the lease ends (instead of the excess mileage and wear charges).

Specialty Vehicle Financing

Ally offers to finance for upfits, so you can add special business equipment or modify vehicles to provide accessibility for people with disabilities.

Commercial Line of Credit

Businesses can qualify for a line of credit with Ally, which can be used to purchase or lease commercial vehicles while saving bank credit lines for other business needs.

Municipal Lease-Purchase Plan

Municipalities such as cities, police and fire departments, and school districts can lease vehicles. Also, when the lease ends, they will own the vehicle. Ally offers monthly and annual payment options and no disposal fees.

Again, to access these financing options, businesses will need to find a participating dealer.

Ally RVs Finance

Want to finance a recreational vehicle? No problem. Ally will finance Class A, B, and C motorhomes, travel trailers, pop-ups, and 5th wheels through their network of dealers. Eligible vehicles include new and used vehicles (models up to 10 years old with up to 75,000 miles).

Ally lease-end process

If you lease a vehicle, Ally will assist you in taking your next steps when the lease ends. You can buy it, return it, or inquire about an extension.

Now that you know all of Ally’s offerings let’s take a closer look at what else they offer customers.

Ally Auto Finance Vehicle Service Contracts

Ally offers the following seven options to customers who want a vehicle service contract to protect their investment:

  1. Premier Protection: Three products are available for this option. First of all, the Major Guard, which covers over 7,400 components including high-end tech and luxury items, Also, the Value Guard, which covers over 2,900 components. And finally, the Basic Guard, which covers over 2,000 components (just the essentials).
  2. Guaranteed Asset Protection (GAP) Insurance: If you get in an accident and your car is totaled, Ally Financial GAP insurance will cover the cost. For example, the company will cover for any difference between the cash value received from your insurance and the outstanding balance you owe on the car.
  3. SmartLease Protect: This coverage will cover any costs you incur at the end of your lease for extra wear and mileage.
  4. Theft Protect: Protect your car and pocketbook against theft with this coverage. Consequently, theft protection will reimburse you if your car is stolen and recovered or declared a total loss after being stolen.
  5. Tire and Wheel Protect: Coverage to protect you against costs incurred by damage from unavoidable hazards on the road.
  6. Dent Protect: Coverage for dents on the body panels of the vehicle.
  7. Appearance Protect: Coverage for the paint, fabric, and leather in your vehicle.

If you would like any of these protections from Ally, you can request the coverage from the dealer.

Ally Financial Customer Service

Lastly, how is Ally’s customer service? The company prides itself on being an ally of the customer in their car buying process. To find out if they deliver on that promise, read Ally Financial reviews.

As for their contact options, you can reach Ally Auto by phone Monday through Friday between 8 a.m. and 11 p.m. Eastern Time and Saturday between 9 a.m. and 7 p.m. Eastern Time. They are closed on Sundays. You can also log in to chat with a customer service representative.

Once you are a customer, you can easily log in and manage your account from a desktop computer or through the Ally auto app.

Apply with Ally Auto Finance

You will need to go to the dealership to apply with Ally Auto Finance. But you, of course, need to find a dealer first.

To do that, visit the Ally Auto website, click on “Explore Auto Financing,” and select “Find a Dealer.” Then, enter your address, select the vehicle brand you want, and see dealers closest to you.

Once you do that, you’ll be able to go to the dealership of your choice and apply with Ally Auto Finance.

Ally Auto Finance Review and Summary

Is Ally the best option for your next auto loan? It is a company to consider as it offers a wide range of auto loan and protection products.

Whether you want a regular vehicle for personal use, an RV, or vehicles for your business, you have many options, from buying and leasing to a mix of the two. However, Ally shouldn’t be the only lender you consider.

While they may offer you a good deal, it’s smart to shop around with other lenders to look at the offer in context. Once you analyze a few different companies and the rates and terms they’ll offer, you can decide if Ally is the best choice.

Want to see what other options are out there?

Using SuperMoney's auto loan engine, you can quickly find out if you qualify with multiple auto loan lenders, all without hurting your credit score.

Once you receive your personalized rates from various lenders, compare the companies side-by-side on our auto loan lenders review page.