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.
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
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.
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!