
Sign up & start saving!
Get our weekly newsletter for the latest in money news, credit card offers + more ways to save
finder.com’s rating: 3.0 / 5.0
★★★★★
Not stated
APR
Product Name | Ally auto loans |
---|---|
APR | Not stated |
Interest Rate Type | Fixed |
Requirements | Not stated |
Review by
Kellye Guinan is a writer and editor with Finder and has years of experience in academic writing and research. Between her passion for books and her love of language, she works on creating stories and volunteering her time on worthy causes. She lives in the woods and likes to find new bug friends in between reading just a little too much nonfiction.
Ally is a relatively new bank. You can access a free FICO score, and its mobile app allows you to manage your account from your phone. But while it has plenty of modern conveniences, its website still lacks some crucial information like rates and terms.
Most importantly, you can’t apply online. Ally works through dealerships, which means you’re stuck bargaining with a salesperson for rates. And since Ally doesn’t list any specifics on its website, you’ll be in the dark until you’re ready to meet with a financial officer.
Ally doesn’t list any eligibility requirements on its website. However, you will likely need to meet these basic criteria:
For better rates, you will need a low debt-to-income ratio and good to excellent credit.
Ally has both loan and lease options, but it doesn’t have any specific information listed on its website. Instead, you’ll need to visit a dealership and set up your financing to know the potential terms you qualify for.
BBB accredited | No |
---|---|
BBB rating | B- |
BBB customer reviews | 1.2 out of 5 stars, based on 73 customer reviews |
BBB customer complaints | 231 customer complaints |
Trustpilot Score | 2.9 out of 5 stars, based on 4 customer reviews |
App Store Score | 2.5 out of 5 stars, based on 6 customer reviews |
Google Play Score | 3.9 out of 5 stars, based on 6,717 customer reviews |
Customer reviews verified as of | 19 October 2020 |
Ally gets mostly negative reviews on both its Better Business Bureau (BBB) and Trustpilot pages. The only review that mentions its auto loan product as of October 2020 is a 1-star one on its BBB page. The customer complains of automatic payments not being posted to their loan when they are scheduled, and expresses disappointment with the customer service received.
Ally doesn’t have an online application, but you can find a partner dealership by following these three quick steps:
To finance through Ally, you’ll need to visit the dealership and request Ally as your lender.
Ally doesn’t list any specific documents you’ll need to apply for a loan. But when you visit a dealership, make sure you have the following to make the application process easier:
Ally gives you three repayment options:
If you can’t make a repayment, check your loan contract. It should state the late fee you’ll be charged.
So remember to reach out before the payment due date. Ally allows some borrowers to skip or extend a payment — in some cases, you may even be able to change your due date.
Ally offers an option to work with dealerships to get you a car loan. But, if you want a lender that’s up front about its terms, read our guide to car loans.
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We rate car loan providers on a scale of 1 to 5 stars based on factors like transparency, costs and customer experience. We don’t take into account elements like eligibility criteria, state availability or payment frequency — we save that for our reviews.