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Ally Clearlane car loan refinancing review

Simple preapproval process — but only for lease buyouts and refinancing.

  • Best for borrowers who want a quick way to refinance their car loan.
  • Pick something else if you need to finance a new or used vehicle.
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Min. Loan Amount

3.74% to 7.49%



Min. Loan Amount$10,000
APR3.74% to 7.49%
Interest Rate TypeFixed
RequirementsMonthly income of $2,000+, live in an eligible US state, ages 18+
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Review by

Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

Expert review

Ally Clearlane is a good option for people who have high rates on their current car loans. It offers refinancing and lease buyouts at competitive rates with relatively minimal requirements. This makes it a solid option for people who might have trouble qualifying for a loan through a traditional route.

But there isn’t much information available online. You’ll need to apply to check your rates, and while this won’t affect your credit, it does mean you won’t know how much it may cost until after you submit your information. Its financing options are also limited. If you’re looking to buy a new or used car that you haven’t been leasing, you’ll have to consider other lenders.

You can compare more car loan providers to see what else you might qualify for.

Clearlane is now Ally Clearlane

Clearlane changed up its branding in August 2020 and is now Ally Clearlane. The fresh logo and name don’t come with any other major changes, so you can expect the same level of support as before the update.

First, do I qualify?

Ally Clearlane doesn’t have many hard eligibility requirements, but you’ll find easier approval if you meet these qualifications:

  • Monthly income of at least $2,000
  • At least 18 years old
  • US citizen, permanent resident or nonresidents living in the US
  • Not a resident of Nevada, Vermont or Washington, DC

Clearlane may also consider your credit score, your vehicle’s value and your remaining loan balance.

What types of car loans does Ally Clearlane offer?

Clearlane offers two options: auto loan refinancing and lease buyouts. However, it doesn’t provide many details on which types of cars or loans qualify for its programs. If you have an auto loan with a high rate or are currently driving a leased car, you’ll need to submit an application for preapproval to see what your rates may be.

Pros and cons

Ally Clearlane is a convenient option for some, but the lack of outright new or used car financing is a definite drawback.

  • Prequalify without a hard credit check
  • Available in 48 states
  • GAP and extended vehicle coverage available
  • Coapplicants accepted
  • Limited information available online
  • Spotty customer service reported
  • No new or used car financing

Compare more auto refinancing offers

To see what other loans you could qualify for, select your credit score and state, then click Show me my personalized options.

Name Product Filter Values Minimum credit score APR Loan term Requirements
PenFed Auto Loans
Starting at 1.79%
3 to 7 years
Active membership with PenFed
Low APR car loans from a well-known credit union.
LendingClub Auto Refinancing
Fair or better credit
3.99% to 24.99%
Car must be less than 10 years old with fewer than 120,000 miles. Current loan must have a balance between $5,000 and $55,000 and at least 24 months left in its term.
Lower your monthly car payments and save on interest through a fast and easy online application process.
Ally Clearlane
3.74% to 7.49%
3 to 7 years
Monthly income of $2,000+, live in an eligible US state, ages 18+

Compare up to 4 providers

Ally Clearlane reviews and complaints

BBB accredited No
BBB rating B
BBB customer reviews 1.05 out of 5 stars, based on 253 customer reviews
BBB customer complaints 1,347 customer complaints
Trustpilot Score 1.4 out of 5 stars, based on 73 customer reviews
Customer reviews verified as of 16 October 2020

While Clearlane has its own BBB page, it shares its reviews with Ally — including the negative ones. Among those recent reviews as of July 2020 are six separate complaints dealing with car loans taken out through Ally. There are also multiple reports from customers who are dissatisfied with the customer service they received.

How do I apply?

To get started with Ally Clearlane, follow these steps:

  1. Click Get your rate to visit Ally Clearlane’s website, then select the type of financing you need.
  2. Select your vehicle by make and model or by VIN, then enter your current mileage and desired loan amount.
  3. Enter your full name, email, date of birth and gross annual income. If you have a coapplicant, enter their details.
  4. Enter information about your residence, including your monthly housing payment.
  5. Enter your phone number and click Submit.

Ally Clearlane will then review your information. If you’re approved, a representative will contact you to determine the next steps in the financing process.

What information do I need to apply?

Ally Clearlane only requires basic details for its preapproval application:

  • Date of birth
  • Monthly housing payment
  • Gross annual income

To continue with the application, you may be required to submit proof of insurance, proof of income and a copy of your driver’s license.

I was approved for a loan. Now what?

You have up to 30 days to use your financing to either purchase your leased vehicle or refinance your current auto loan. From here, you’ll start making repayments to Ally Clearlane. Your loan contract should contain details on how to make payments and the overall cost of borrowing.

Not sure Ally Clearlane is right for you? Compare your full range of car loan options to find the best financing for your needs.

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