Ally Auto Refinancing
Ally Auto Refinancing Claimed

Ally Auto Refinancing

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Credit Score Range 600 - 850
Loan Amount $5,000 - $100,000
APR  (Fixed APR) 3.64% - 21.9%
(Verified 05/23/2023)
Loan Term (Months) 36 - 72 months

Ally Auto Refinancing Review

Ally Auto Refinancing is an auto loan refinance offering by Ally Financial, Inc., based in Detroit, MI. Founded in 1919, Ally Financial, Inc. offers auto refinance loans in 48 states across the USA.

Key Takeaways

  • APRs starting at 3.64%. There are average starting rates for an auto refinancing loan. If you have good credit you may qualify for a loan with better rates.
  • Lease buyouts. Offers refinancing to buyout an expensive lease or purchase a company car.
  • Fair credit accepted. The credit score needed for Ally Auto Refinancing is relatively low. Borrowers with a credit score as low as 600 may qualify for Ally Auto Refinancing.
  • Refinancing for large loan amounts. You can refinance auto loans of up to $100,000 with Ally Auto Refinancing.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the auto refinance loan early.
  • Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Ally Auto Refinancing.
  • Long loan terms. Ally Auto Refinancing offers loan terms of up to 72 months. Most auto refinancing loans have a maximum term of 60 months.
  • Minimum income of $24,000. You will need an annual income of at least $24,000 to apply for Ally Auto Refinancing, which is above average for the lenders in our database.

Ally Auto Refinancing Pros & Cons

Pros Cons
  • Low APRs available to qualified borrowers.
  • Available in 48 states.
  • Ally Auto Refinancing does not report to credit bureaus.
  • Considers applicants with fair credit.
  • APRs as high as 21.9%.
  • Charges an origination fee.
  • Charges prepayment fees.
  • Charges a late fee.

Ally Auto Refinancing FAQ

How much can you borrow via Ally Auto Refinancing?

Auto refinance loan amounts start at $5,000 and go up to $100,000.

What are the auto loan refinancing rates offered through Ally Auto Refinancing?

Ally Auto Refinancing offers a fixed APR car loan refinancing product that ranges from 3.64% APR up to 21.9% APR.

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

Ally Auto Refinancing offers auto refinancing with terms ranging from 36 to 72 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 refinancing loan, the more interest you will pay.

Does Ally Auto Refinancing charge an origination fee on auto refinance loans?

Yes, Ally Auto Refinancing charges a loan origination fee.

Origination fees and requirements vary by state.

Does Ally Auto Refinancing charge a late fee?

Yes, auto refinance loans via Ally Auto Refinancing are subject to late payment penalty fees.

Does Ally Auto Refinancing charge prepayment fees?

Yes, Ally Auto Refinancing does charge borrowers a fee if they pay their loans early. Consider prepayment fees when you choose a lender because prepayment feees can reduce or even cancel the interest savings of repaying a loan early.

What do you need to qualify for Ally Auto Refinancing?

Applicants with a credit score of at least 600 and up to 850 may be eligible for Ally Auto Refinancing.

To qualify for auto loan refinancing with Ally Auto Refinancing, applicants need a minimum annual income of $24,000 or higher. Ally Auto Refinancing only considers borrowers who are employed and meet the minimum income requirement. Note that borrowers can add a cosigner or a co-borrower to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Ally Auto Refinancing. Their rates fall within the limits of The Military Lending Act.

U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Ally Auto Refinancing.

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

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

Is Ally Financial, Inc. a legit company?

Ally Financial, Inc. was founded in 1919, it is a well-established company that has been in business for 104 years.

Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Other Auto Loan Refinancing by Ally Financial, Inc.



  Available in 48 states
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Credit Score Range 600 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Co-borrower
  • Cosigner
  • Individual Applications
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Annual Income $24,000
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Recent Pay Stubs
  • Proof of Residence
  • Social Security Number
APR (Fixed APR) 3.64% - 21.9%
(Verified 05/23/2023)
APR Type Fixed APR
Loan Term 36 - 72 months
Loan Amount $5,000 - $100,000

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Other Auto Loan Refinancing