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Ally auto loans review

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This young bank works with dealerships to get you financing.’s rating: 3.0 / 5.0


  • Best for borrowers looking to finance through a dealership.
  • Pick something else if you want to apply directly with a lender.

Not stated



Product NameAlly auto loans
APRNot stated
Interest Rate TypeFixed
RequirementsNot stated

Expert review

Kellye Guinan

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.

Expert review

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.

First, am I eligible?

Ally doesn’t list any eligibility requirements on its website. However, you will likely need to meet these basic criteria:

  • US citizen or permanent resident
  • At least 18 years old

For better rates, you will need a low debt-to-income ratio and good to excellent credit.

What types of car loans does Ally offer?

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.

Pros and cons


  • Mobile app for easy repayments
  • Loan and lease options available
  • Free FICO score reports


  • Must finance through dealership
  • No online application
  • Rates and loan terms aren’t transparent

Compare more car loan options

Data indicated here is updated regularly
Name Product Filter Values Minimum credit score APR Loan term Requirements
No minimum credit score
3.9% to 27.9%
1 to 6 years
18+ years old, annual income of $4,000+, no active bankruptcies Car Loans
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Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.
Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.
CarsDirect auto loans
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Must provide proof of income, proof of residence, and proof of insurance.
Save time and effort with this lending service specializing in beginner-friendly or subprime car loan.
Auto Credit Express Car Loans
Must be employed full-time or have guaranteed fixed income of at least $1,500/month and be a current resident of the US or Canada.
Get connected with an auto lender near you, even if you have bad credit.
Monevo Auto Loans
3.99% to 35.99%
3 months to 12 years
Credit score of 500+, legal US resident and ages 18+.
Quickly compare multiple online lenders with competitive rates depending on your credit.

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How do I apply?

Ally doesn’t have an online application, but you can find a partner dealership by following these three quick steps:

  1. Visit Ally’s website and click Find a Dealer under the Auto tab in the menu.
  2. Allow Ally to use your location or manually enter your address or ZIP code.
  3. Select a vehicle brand to find a participating dealership and click Get Results.

To finance through Ally, you’ll need to visit the dealership and request Ally as your lender.

What documents do I need to apply?

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:

  • Proof of insurance
  • Proof of employment or income
  • Social Security number
  • Date of birth

How do repayments work?

Ally gives you three repayment options:

  • Online or with its mobile app
  • By phone: Call 888-925-2559
  • By mail: Payment Processing Center
    PO Box 9001951
    Louisville, KY 40290-1951

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.

Car loan ratings

★★★★★ — 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.

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