If you’re looking for an auto loan, Ally Financial auto loans may be a good choice. They offer a variety of APRs based on your credit score. There are a variety of reviews of Ally on consumer review sites such as Consumer Affairs, Credit Karma, Yelp, and the BBB. However, many of these reviews are mixed, and the company has been criticized for poor customer service.
Ally Financial’s auto loan portfolio has declined faster than expected, but the company expects this situation to improve in the future. This is primarily due to low levels of credit quality. The company’s balance sheet is still healthy, and the company expects to stabilize its net charge-off ratio in 2023.
The auto loan application process is easy, and Ally has several convenient payment options. You can pay your auto loan with a bank bill pay service or through a text message. However, you must opt-in to receive these text messages from Ally. The bank bill pay service may require that you provide your credit score to process your payment.
Ally Financial is one of the largest auto lenders in the U.S., with a history that dates back to 1919. It began as a division of General Motors called GMAC, and was rebranded as Ally in 2009. The company has extensive experience in the auto industry. It also operates a full-service online bank with savings and checking accounts.