topic Has Anyone Done Business With Ally Financial? in Auto Loans

Has Anyone Done Business With Ally Financial?

Anonymous — Fri, 25 Jan 2019 00:39:35 GMT

If you have an auto loan with them, please give me your honest opinion about them, as the rrviews are horrific.

Re: Has Anyone Done Business With Ally Financial?

Anonymous — Fri, 25 Jan 2019 01:07:03 GMT

We had our auto loan about a year before we paid it in full so we didn't have much experience with them.... we just know that they're the cheapest the car lot offered for financing and their customer service was bad.

Re: Has Anyone Done Business With Ally Financial?

Anonymous — Fri, 25 Jan 2019 01:50:23 GMT

You probably won't get a good response unless you post a 4th time......

Re: Has Anyone Done Business With Ally Financial?

Anonymous — Fri, 25 Jan 2019 16:52:26 GMT

Really Guy?

Can you offer me any mature, factual, empirical advice or not?

Re: Has Anyone Done Business With Ally Financial?

sccredit — Fri, 25 Jan 2019 20:41:47 GMT

Have had 2 cars financed and paid off through Ally. Used to be GMAC. Great experiences with both. I don't have anything bad to say about them.

Re: Has Anyone Done Business With Ally Financial?

bigpoppa09 — Fri, 25 Jan 2019 21:43:13 GMT

I had purchased a car in 2016 and they financed it i made my payments on time never heard a peep out out of them my current car is a lease and it is leased thru them as well.

Re: Has Anyone Done Business With Ally Financial?

Anonymous — Sat, 26 Jan 2019 16:50:05 GMT

People who write bad reviews tend to be the ones who don't make their payment's in a timely manner. I take reviews on lender's and other products online, with a grain of salt..typically the only people who leave a review are the one's who had an unpleasant experience, not the many people who had a pleasant one.

Re: Has Anyone Done Business With Ally Financial?

Anonymous — Sun, 27 Jan 2019 05:26:05 GMT

We paid ours on time (never late, never almost late) and only contacted them once for something not negative and still found customer service to be lacking... for no reason... or maybe the rep had a bad day. We would still finance with them again though because honestly contacting them isnt usually necessary and their rates were lower.

I'd have to agree with the other posters... sometimes people just dont leave good reviews just because theyre not fired up enough to do so. Dont freak out just yet... wait and ask them when they have processed your account.

Re: Has Anyone Done Business With Ally Financial?

chiefone4u — Sun, 27 Jan 2019 06:00:13 GMT

So far all has gone well for us. They were the only bank willing to loan $39k for a $34k vehicle and allow more than 36 months to pay for it.

I make a payment every week on a loan that was scheduled to be 84 months (not smart to go that long I know) after twelve months of weekly payments it says there are 65 payments remaining-- to clarify the shady looking math, the minimum payment is $619 a month and we pay $175 a week (roughly $700 a month).

I have spoken with someone with Ally 3 times now, first encounter was three day's after taking possession of the vehicle-- they called me and asked for my ssn, I told them I don't provide that information to people over the phone -- the caller was frustrated with my response and informed me they would mail the welcome packet to the address provided since I refused to cooperate with them.

Second encounter was myself calling them to verify they would count weekly payments as valid payment as long as all weekly payments equaled or exceeded the minimum monthly payment by the payment due date -- they confirmed this was acceptable.

Third was to discuss a possible home loan. The LO was awesome to deal with sufficiently answered all of my questions and offered some pointers to improve my pre-qualification loan amount (F.Y.I. you must stay with the same employer for two years for them to consider part-time employment income as income for a home loan. Full time employment counts at any length so long as there have been no gaps exceeding 35 days).

Overall, I wouldn't hesitate to get another auto loan from Ally (I only wish they allowed me to track the loan in Quicken).

Re: Has Anyone Done Business With Ally Financial?

Anonymous — Sun, 27 Jan 2019 07:32:18 GMT

So, the extra payments went to principle and Ally had no issues with it and calculated it correctly?

Re: Has Anyone Done Business With Ally Financial?

chiefone4u — Sun, 27 Jan 2019 07:59:24 GMT

Would seem that way... I haven't crunched the numbers to see how much they have actually applied to principal and how much is carry over (online account shows next payment due date more than a month out -- site is down for maintenance right now so I can't give exact date).

Their website allows auto pay (monthly) as an option or manually up to I think they said 8 payments per month (don't quote me)?

Since pay checks are direct deposited into CU account, I have them (CU) send payment on paydays. Ally acknowledges payment the day after being sent (bank sends payment Thursday, ally applies payment Friday).

As others have mentioned most reviews are written following a bad experience, and I have seen in several reviews the bad experiences were self induced.

Best of luck with your choice!

Re: Has Anyone Done Business With Ally Financial?

fancycreditdreams — Fri, 08 Feb 2019 00:19:05 GMT

Hey OP!

What did you wind up doing here? I PERSONALLY would not use them again because of the way that they structure the loans. Albiet, I am not sure if this is standard accross the board...but with no credit other than student loans, I was only offer a 75 month term at 17.89%!! CRAZY. I was in such a pinch and that was the only offer I had on the table, so I had to take it. They wont even accept a directed overpayment to the principle. I am now in a credit rebuild and my first order of business is to get this darn car refinanced for a lower monthly payment so I can rid myself of the loan asap.

That being said--their employees are SO NICE. Seriously, I feel like they are the most understanding people ever. Do you ever talk to a rep about money and on the other line they act like it's their personal money that you owe? I have never had that experience with someone at Ally.

Good luck!!

Re: Has Anyone Done Business With Ally Financial?

Creditplz — Fri, 08 Feb 2019 07:18:53 GMT

Brother has a auto loan with Ally, they offered the only 40k approval he needed at a rate of 5.xx with a 650 fico I believe.. and 72 or 74 month term

He has autopay and has never called them, all seems to be well !

Re: Has Anyone Done Business With Ally Financial?

Anonymous — Fri, 08 Feb 2019 07:36:16 GMT

Thats actually good news to hear because it gives me hope that someone will finance me a car im only 18 my credit is just starting only thing on mine is a student loan from last semester of college. I dont know which banks are willing to finance me a 19K car with no credit so im looking for all the answers possible on this forum. I want to put down 1500, 2000 max so is it good odds that I will be approved by someone for this car?? any advice or specific banks would be amazing i would truly appreciate it

Re: Has Anyone Done Business With Ally Financial?

Anonymous — Sun, 10 Feb 2019 07:19:52 GMT

I have never had to contact Ally for any purpose so I can't relay any experiences with their customer service. The unfortunate part about my Ally car loan is that it shows up as a CFA(Consumer Finance Account) on my Experian reports. The amount of point loss off your scores by having a CFA is a matter of debate. My guess is that the point loss is on the smaller side. FICO does provide it as a negative reason code and therefore it won't be helping your scores any. I was oblivious to this fact a long time ago but I know going forward that I won't be doing business with Ally again. One CFA on my reports is enough and I won't be testing 2 on my reports.

Re: Has Anyone Done Business With Ally Financial?

SGT_Major — Sun, 10 Feb 2019 13:58:49 GMT

My wife and I had an auto loan with Ally and it was not a good experience. When we got the loan in 2017, my due date was the 28th of each month. I told the dealer that I got paid on the 1st of each month and he said don't worry, you'll have a grace period to pay it on the 1st of the month with no ding to your credit. Well, the dealer was wrong, on the 29th of the month, an Ally CSR would call me about the payment. The CSR said in order to avoid them calling me everyone month, I had to call a day or two before the 28th to say I paying it on the 1st. I told the Rep, can't you see I use autopay? This lasted for about 3 months before I finally re-financed with USAA. USAA gave us a way better rate as well!

Re: Has Anyone Done Business With Ally Financial?

Anonymous — Sun, 10 Feb 2019 16:11:23 GMT

I had Ally for a previous car loan. I have nothing bad to say about them because they worked with me (late payments).