Since Ally Bank does not have any brick and mortar locations, they can offer their loans at a fantastic discount. Even without a branch, they offer support around the clock and an online banking platform that is secure and user-friendly. They also have mobile banking options so account holders can check their balances and properly monitor their transactions. If you have any questions or concerns, they will be glad to assist you at any hour of the day.
Ally’s Lending History
Ally is a good place for individuals who are seeking an auto loan because they enjoy assisting their customers. For close to a century, they financed numerous individuals who wanted to purchase new vehicles. They also work with thousands of dealerships so people who are non-account holders can receive attractive rates. So far, they gave out loans to over 4 million customers, and this number continues to increase each day.
The Dealer Locator for Buyers
You need to use Ally’s Dealer Locator to find a suitable loan and interest rate. They do not list annual percentage rates on their site because all financing goes through the affiliated car dealerships. In this section, you have the option to enter your address and zip code so you can find a dealer in your area. You must also enter the vehicle make and model so they can come up with an appropriate loan rate for the vehicle.
Credit History and Loan Rates
As with any financier, your credit history will determine the type of loan and rate you will receive. It should not be outrageous, but it will be a fair price for the vehicle in question. Also, if you purchase a high-end or luxury vehicle, you should expect the APR to be a bit higher. This will also be true for loans that last up to 8 years, and loans for certain used vehicles.
Ally will do their best to finance anyone, whether they want to purchase or lease a vehicle. They try to work with the borrower’s budget so their monthly payments are not very hard to manage. After determining the monthly payment, the borrower will have the option to go online and make payments through their account. Ally will also leave the lines of communication open so the borrower can discuss their loan whenever they need to.