Ally | Auto Loan

4.2

Ally offers online auto loans for refinancing or new car purchases, with flexible payment options like text pay.

Loan Details

Loan Amount Not Specified
APR From 5.49%-23.49%
Min Credit Score 520

Rates by Type

	Refinancing	Lease Buyouts	Vehicle Purchase Loans
APR	Not specified	Not specified	Not specified
Loan Amounts	Not specified	Not specified	Not specified
Loan Terms	36-75 months	36-75 months	24-75 months

Disclaimer: We are an independent information site, not an insurance company. All figures are estimates for comparison only; table data represents full coverage premiums. Please verify final quotes and terms directly with the insurer.

Pros & Cons

Pros

Prequalify with no hard credit check.
See real loan terms and APR options.
Add a co-applicant to improve approval.

Cons

Ally auto financing is not available in all states.
Loan funding may take several days or weeks.
Average interest rates are not listed online.

Eligibility

To be eligible for vehicle financing with Ally, applicants must meet the following criteria:

Must be a U.S. citizen, permanent resident, or resident
Must be at least 18 years old
Earn at least $2,000 per month
For refinancing, the vehicle must be noncommercial and not used as a delivery, rideshare, taxi, or police car
The vehicle cannot have unrepaired collision or comprehensive damage, or be under more than one lien
Must not have a branded title
For refinancing, the existing financing must be at least seven months old

Application

Apply Now

Ally divides the auto financing process into three simple steps:

1. Get a quote

Start by visiting the website and entering some basic information to see whether you prequalify for auto loan refinancing or a lease buyout loan. If you earn at least $2,000 per month, you may still be approved even if your credit is not perfect.

2. Submit application

If you are a strong candidate for a loan, review your offers, select the best option, and submit a formal application for approval. You will need to provide the required documents so Ally can process your loan application.

3. Finalize loan

If your application is approved, the lender will send your loan documents for review. If you have any questions or concerns, you can ask before moving forward. Otherwise, you can sign the loan agreement and submit any additional information or documents needed to complete the financing arrangement.