About Ally Bank
Ally Bank, one of the “8 least evil US banks”, is the banking unit of Ally Financial (formerly known as GMAC). GMAC changed its name to Ally Bank in 2009 partly because the collapse of auto industry had a really bad effect on the company, which name always reminds people of General Motors. Ally bank has only two offices in the nation and operates mainly online.
Ally Bank operates a wide range of businesses, including checking account, savings, certificate of deposits, individual retirement accounts, retail financing and leasing, mortgages as well as automotive financing and leasing. In regard to auto financing, the company has decades of experience and is dedicated to making auto financing easier for all.
Business Auto Financing
Ally Bank offers different financing options that are customized for your business. Financing for buying and leasing are both available, but it is more profitable and advantageous to buy cars of your own, since your company will have:
- Ownership of the vehicle, titled in business’ name
- No restraints on mileage or wear
- Ability to sell or trade in the vehicle at any time
To finance multiple vehicles, Ally’s commercial of credit serves as a convenient way to build business fleets. For whatever vehicle your company wants to buy, passenger cars or light- and medium-duty business vehicles of any make or model, you can always get loan from Ally Bank. Just visit the local GM, Chrysler Group LLC or Saab dealer, who will be more than happy to help you with your application.
As to payment, Ally offers a number of different options for you to choose from so that you can make monthly payment in a way that fits your needs best:
1) Auto pay. Establish automatic withdrawal payments in your Ally Auto Finance Account or checking account and have the monthly payment withdrawn directly on the day you choose.
2) Online. Log into your Ally Auto Finance Account to make one-time payment online. You just need to follow the system prompts to complete the process.
3) Mail. Send your check to the company, but it will take a lot of time and is very inconvenient.
4) Phone. Call 1-877-845-2642 to make payment from your checking or savings account or use debit or credit card. A $15 fee will be charged for making payments over the phone.
Personal Auto Financing
For individuals, buying a new GM or Chrysler brand vehicle might be a substantial expense. Well, the traditional Ally Bank financing program will be more than helpful in this case. With Ally Buyer’s Choice, you can get the best advantages of buying a vehicle.
The company also helps by:
• Providing an online financing application that can save you time at the dealership
• Sending your application to the dealership of your choice
There are several options when it comes to the time you can take to pay off your vehicle financing and you can use the monthly payment calculator to estimate your payment term. You can make payment through mail, phone, and internet. Prepaying by selling your vehicle to Ally for a predetermined price is also available within 48 months.
Refinancing a car loan can also help lower monthly payments and save a considerable amount of money if you purchase a car with high interest rate. One lender will buy your car loan from Ally in this case. The most important thing is to find a new lender who is reputable and has good payment terms. But never consider this method unless you have $7,500 or more left to pay on your car and the interest rate on the new loan is 1% lower than the old rate.
Ally Bank Official Website: http://www.ally.com
Ally Bank, one of the most reputable online banks in the nation, is in the line of a wide range of financial businesses, like checking account, savings, certificate of deposits, individual retirement accounts, as well as various kinds of financing and leasing services. When it comes to auto financing, the company has decades of experience of providing financing for vehicles manufactured by General Motors, Chrysler and Saab.
This web site is not affiliated with Ally Bank. We recommend Ally Bank official site for more accurate information of its financial services.