Ally Auto Finance Review

Ally Auto Finance is an auto purchase finance offering by Ally Financial Inc., a bank based in Philadelphia, PA. Founded in 2001, Ally Financial Inc. offers auto loans in 50 states (and Washington, DC).

How much can you borrow via Ally Auto Finance?

Ally Auto Finance auto loan amounts start at $1,000 and go up to $100,000.

What APR does Ally Auto Finance offer on its auto loans?

Ally Auto Finance offers an auto loan product that ranges from 0% APR up to 18% APR.

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

What is the maximum loan term you can get with Ally Auto Finance?

Ally Auto Finance has auto loans with a maximum term of 84 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your auto loan, the more interest you will pay.

Does Ally Auto Finance charge an origination fee?

Yes, Ally Auto Finance may charge a loan origination fee.

Does Ally Auto Finance charge a late fee?

Yes, Ally Auto Finance charges borrowers with a late payment penatly fee

Does Ally Auto Finance charge prepayment fees?

No, Ally Auto Finance will not charge you a fee for paying your loan early. Whenever possible choose lenders like Ally Auto Finance that don't charge a prepayment fee. These fees can reduce or even cancel the interest savings of repaying a loan early.

What do you need to qualify for a loan with Ally Auto Finance?

Applicants with a credit score of at least 560 can apply for a loan via Ally Auto Finance. The minimum age to apply for a loan is 18 or the state minimum, whichever is higher.

To qualify, applicants may need to provide the following documentation:

• Driver's license
• Proof of citizenship or residence permit
• Recent pay stubs

What is the estimated funding time for an auto loan via Ally Auto Finance? Ally Auto Finance will typically approve (or deny) an auto loan application within 48 hours and fund the loan within 7 business days of approval.