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Ally Clearlane car loan refinancing review

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

Bottom line: Ally Clearlane has more flexible requirements than some of its top competitors. But you won’t be able to finance a new or used car — only refinance or get assistance with a lease buyout. Read our full review or get our 30-second take.

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Min. Loan Amount


Max. Loan Amount

7.54% to 22.49%



Min. Loan Amount$7,500
Max. Loan Amount$99,999
APR7.54% to 22.49%
Interest Rate TypeFixed
RequirementsMonthly income of $2,000+, live in an eligible US state, ages 18+, Existing auto loan must be third party (non-Ally) and have been in force 6+ months, Only refinance transactions

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

Our take on Ally Clearlane

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.

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.

Ally Clearlane doesn’t require borrowers to have a down payment. However, a down payment of 10% to 20% of your loan amount can help reduce the amount you need to borrow — which in turn cuts how much interest you pay on your loan.

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 Better Business Bureau 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.

Compare more auto refinancing offers

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

1 - 2 of 2
Name Product Filter Values Minimum credit score APR Loan term Requirements
Upstart Auto loan refinance
6.96% to 29.99%
2 to 7 years
Annual income of at least $12,000, 18+ years old, vehicle is less than 12 years old and has less than 140,000 miles,No bankruptcies or public records on credit report within the past 3 years,No accounts that are currently in collections
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 car loan refinancing rates, fees and terms

Ally Clearlane offers rates from 7.54% to 22.49% APR. And its terms range from 36 to 72 months.

The rate you receive is based on your credit score, not loan term. To get an idea of what your rate might be, check out the APR ranges Ally Clearlane sets for each FICO credit score band.

Credit scoreAPR range
740+7.54% to 7.99%
700 to 7393.99% to 8.74%
660 to 6994.74% to 10.24%
620 to 6596.49% to 10.99%
580 to 6197.49% to 22.49%

Ally Clearlane requirements

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
  • Existing auto loan must be third party (non-Ally) and have been in force 6+ months

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

How the application works

To get started with Ally Clearlane you can choose Get your rate or visit Ally Clearlane’s website. Select the type of financing you need, then enter details about yourself and your car.

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.

If you’re approved 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.

Ally Clearlane may accept credit scores as low as 520

Several top auto lenders have a minimum credit score in the 600s, but Ally Clearlane may approve you even if your credit score falls below that mark. You won’t receive the best rates with a 520 credit score, so make sure refinancing will either lower your overall loan cost or make your monthly payment more manageable before you sign on.

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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