December 9, 2023

Car Auto Finance

Car Auto Finance FOR Everyone

Reviews, Rates & Terms (2023)

Through our review team’s study, we gave Ally Financial auto loans a 3.5 out of 5.0 star rating for their many car-buying choices and highly-rated mobile app.

Affiliate disclosure: Automoblog and its partners may be compensated when you purchase the products below.

Car driving down the road

In Our Opinion:

Ally can be a good choice for auto financing if you’re a business owner or need a specialty vehicle, but the company lacks transparency for the average borrower.


Multiple buying choices, including commercial-use vehicles

Online and mobile account options


Only available through participating dealers

Must apply to access loan details

If you’re looking to secure a car loan, you may be inclined to work with a large finance company that won’t disappear overnight. Banks such as Ally sometimes partner with a vast network of car dealerships and offer more buying options, but do Ally auto finance reviews reflect an excellent customer experience?

This article will look at the upsides and downsides of auto loans through Ally Bank – a subsidiary of Ally Financial Inc. – focusing on auto loans for new car purchases and refinancing. We’ll also carefully examine some Ally Financial auto loan reviews to see how well Ally troubleshoots issues. Our experts have ranked and reviewed the companies with the best auto loan rates to help you know what to look for in a lender.

About Ally Financial

Ally Financial has its roots in the auto industry. In 1919, the General Motors Acceptance Corporation (GMAC) started Ally as a way for auto dealers to buy inventory in bulk. Today, Ally Bank is the 20th-largest commercial bank in the U.S., according to 2021 data from the Federal Reserve. Ally offers everything from checking accounts for personal banking to dealer financial services and corporate financing.

The process of financing a car through Ally is different from financing with many other big-name banks. Instead of applying for a car loan directly through Ally, you find a participating car dealership and apply for a loan at that location.

Ally Financial Auto Loan Terms

Since you get an Ally Financial auto loan from a dealership, Ally doesn’t disclose many of its loan details online. Ally’s auto financing portfolio consists of loans for new cars, used cars, and commercial vehicles.

Here are some Ally Financial auto loan basics:

  • Prepayment penalty: None
  • Loan terms: 12 to 84 months
  • Loan amounts: $5,000 to $25,000
  • Annual percentage rate (APR) range: Based on current auto loan rates and your credit score

Ally says it does not finance Suzuki vehicles and that borrowers must have down payments in cash or trade-ins worth at least 5% of the vehicle’s cash price. Eligible vehicles can be up 10 model years old or have up to 120,000 miles.

Ally Clearlane

Borrowers who want to buy leased vehicles or refinance existing car loans may want to explore Ally Clearlane. In most states, this finance option includes gap insurance, which can help pay off the remaining balance of an auto loan if you total your car or someone steals it.

Here are some of Ally Clearlane’s requirements:

  • Must be a noncommercial vehicle
  • Monthly income of at least $2,000
  • Must be at least 18 years old (19 in Alabama)
  • Car must not be a former police vehicle or taxi
  • Cars and light-duty trucks less than 10 model years old
  • Must live in the U.S. as a U.S. citizen, resident alien, or non-resident alien

Ally Clearlane is not available in Nevada, Vermont, and the District of Columbia.

Specialty Vehicle & Heavy Duty Truck Financing

For business owners who maintain vehicle fleets, Ally finances more than standard sedans. Below are some of the vehicles Ally underwrites for commercial use, along with some of the available terms:

  • New and used cars
  • Heavy-duty trucks, vans, and other commercial vehicles with special business equipment
  • Financing agreements up to 75 months
  • Financing for vehicles up to 6 years old or with 700,000 miles, depending on collateral

Applying for an Ally Financial Auto Loan

Ally Financial auto financing is available for borrowers with prime and non-prime credit. As we mentioned above, the application process for an Ally Financial auto loan mostly happens at the car dealership. To find a dealership, prospective borrowers can use Ally’s dealership locator tool available on the company’s website.

Ally Auto Finance Loan Application Details
Minimum Credit Score 620 (can vary by lender and dealership)
Minimum Income $2,000 monthly (for Clearlane)
Application Fee None
APR Varies by credit score and current rates

You can apply for Ally’s Clearlane program online. The application requires information about the vehicle you’re financing or leasing, as well as personal information, employment information, and whether you own or rent your residence. The prequalification process also performs a soft pull on your credit history.

Ally Auto Mobile Pay

One way to manage your Ally auto finance account is through the mobile app, which allows you to do the following:

  • Set up auto-pay
  • Get free FICO score updates
  • Review and edit monthly payments
  • View finance charges on car payments
  • Make one-time payments on auto loans

The Ally Auto app has an average score of 3.8 out of 5.0 stars from over 8,900 reviews on Google Play. The app earns a much better score on the Apple App Store, with 4.7 stars out of 5.0 after 2,800 reviews.

Many reviewers say the app is user-friendly, while others mention having trouble accessing their loan information or issues with the app not working at all.

Ally Financial Auto Loan Customer Reviews

Ally’s biggest weakness as a lender is customer experience. The company has a D- rating from the Better Business Bureau (BBB), and more than 380 Ally auto finance reviews on the BBB website average out to only 1.1 out of 5.0 stars. The company has a similar Trustpilot score of 1.3 stars out of 5.0, based on more than 175 Ally auto finance reviews from customers.

Many negative Ally Financial auto loan reviews report long waits for customer support, which cause issues to sometimes go unresolved for hours or even days. Some negative Ally Financial reviews mention issues with getting fair prices on lease buyouts or problems getting car titles after paying loans off.

Positive Ally Financial Auto Loan Reviews

While less-favorable Ally Financial auto loan reviews outnumber upbeat reviews, there are positive customer experiences. Here are two of them:

“I bought my car and paid it off with no issues. I was never late with a payment, so I had no reason to deal with customer support except for account setup. She was super nice. Loved the website and iPhone app as well. Easy to use. I would definitely use them again.

– Stacey B. via Trustpilot

“We have [had] Ally for almost two years. No issues, and payments are easy on their website. We just bought another vehicle through them, and they set up the account in one page for both, making it easier.”

– Leslie R. via Trustpilot

Negative Ally Financial Auto Loan Reviews

Negative Ally auto financial reviews come from customers who range from mildly unhappy to downright irritated.

“[Ally has] yet to fix a $20k error on my credit report that they submitted on a car loan. I submitted a dispute, and it’s been over a month.”

Christina S. via Trustpilot

“Filed a GAP claim on Feb. 23, 2021. It is 4/28/2021, and still no payment. Very poor and unresponsive customer service.”

– Darryl F. via BBB

Is An Ally Financial Auto Loan Worth It?

If you have good or excellent credit and don’t mind applying for an auto loan in person, Ally Financial can be a solid choice. Also, if you’re a business owner and want to finance commercial-use vehicles, Ally offers plenty of financing options.

Ally Auto Finance Loan Pros Ally Auto Finance Loan Cons
Good choice for mid-level credit Few options for subprime borrowers
Multiple options for personal and commercial-use vehicles High number of customer complaints
Mobile app has strong reviews among Apple users Must apply through a dealership for new car purchases
Clearlane only available for lease buyouts and refinancing

One of the biggest knocks on Ally Financial is that the company doesn’t offer many ways to compare rates without filling out an application. Clearlane can be helpful for refinancing or getting a lease buyout, but getting prequalified doesn’t mean you’ll know your rate. Ally offers very little information about any bad credit car loans it may offer.

Ally Bank Auto Loan: Conclusion

Ally Financial auto loan earned a 3.5 out of 5.0 Stars. Ally is a decent option for those with good credit and offers a variety of car buying options. Their mobile app overall has many perks and high ratings. However, all financing for loans must be done through dealerships, which limits borrowers. We recommend that you shop around and compare options before choosing Ally Financial for your auto loan needs.

Ally Financial Auto Loans: FAQ

Below are a few frequently asked questions about Ally Financial car loans:

Is Ally Financial an excellent bank to finance a car?

Borrowers looking to finance vehicle purchases directly through dealerships may be interested in Ally Auto Finance, which finances personal and business purchases and has lease programs.

Does Ally Financial finance bad credit?

The approval of a loan through Ally Auto Finance depends on the financial institution and the participating dealership. You may be able to secure a car loan if you have bad credit, but you could end up with a high interest rate.

What credit score do you need for Ally Financial?

According to, 620 is the minimum credit score that Ally Financial requires to secure an auto loan. However, standards can vary among participating dealerships.

Is Ally Financial a good bank?

While Ally Bank has plenty of financial service options, ranging from personal bank accounts to home loans to online banking, the company falls short on customer service. Ally gets a D- rating from the BBB and only 1.5 out of 5.0 stars from reviewers on Trustpilot.