Ally Financial Inc.

Ally Financial Inc. is a publicly traded financial services company headquartered in Detroit, Michigan. It provides auto financing, online banking, home loans, and investment services, and is one of the larger auto lenders in the United States. Ally was originally established as the financing arm of General Motors, operating as GMAC, before becoming an independent company.

Ally's auto financing business provides loans and lease financing for new and used vehicles. Unlike captive lenders that are tied exclusively to one manufacturer, Ally works with dealerships representing many different brands. This means Ally financing may be available when purchasing from a wide variety of dealerships rather than just those selling a specific make of car.

Ally commonly offers dealer-arranged financing for new vehicle purchases, used vehicle purchases, and lease agreements. Consumers generally encounter Ally financing at the dealership finance office rather than applying directly. Rates and terms are set by the dealer and Ally together, and can vary significantly depending on the buyer's credit profile, the vehicle being purchased, and current market conditions.

Ally also operates an online bank, Ally Bank, which offers deposit accounts including savings, checking, and certificates of deposit, all FDIC-insured. The banking business is separate from the auto lending business.

Because Ally auto loans are typically offered through dealers, consumers should compare the financing offered by the dealership with quotes from their own bank or credit union before agreeing to terms. Getting a pre-approval from a separate lender before visiting the dealership gives a buyer a useful point of comparison.

Consumers should also be aware that dealer-arranged financing may include markups above the base rate, so asking about the buy rate and shopping around is advisable before signing any financing agreement.