ALLY CAR FINANCING

Qualifying Factor

Recommended

REPORTS TO:
D&B, Experian and Equifax (reports quarterly)

TERMS:
Lease or Loan

PG / NO PG:
No Personal Guarantee Required

Phone: 888-925-2559

Website: https://www.ally.com

Reports to: D&B, Experian, and Equifax (reports quarterly)

Description:  Ally offers commercial vehicle financing. Gives personal financing but reports also to business credit bureaus.
Third-Party Guarantee
When you want to buy or lease vehicles in the name of your business but need to secure additional financing, you may act as a third-party guarantor. This allows you to keep your name off the title and may keep the debt off your personal credit record. Keep in mind, that if your business defaults, you may become liable and the debt may be reported on your personal credit record.
Business name only
If your business qualifies for financing without the owner’s guarantee, you can obtain financing in the business name only. This gives you the ability to save your personal credit for other uses as well as:
Build credit in your business name
Protect yourself from liability related to the operation of the vehicle

Special Instructions: Since Ally is an indirect lender, they are just depending on the dealership. If you’re planning to obtain a vehicle or auto loan from Ally, please contact your dealership and advise them that you want your vehicle financed through Ally.

Ally will send out applications via invitation mail (hand pick), they provide letters on how to apply for a credit card, and they do not accept online applications.

To Qualify:

Commercial Line of Credit
– Entity in good standing with the Secretary of State
– EIN number with IRS
– Business address- matching everywhere.
– D & B number
– Business license- if applicable
– Business bank account

Commercial Vehicle Financing
– Entity in good standing with the Secretary of State
– EIN number with IRS
– Business address- matching everywhere.
– D & B number
– Business License- if applicable
– Business Bank account
– Bank reference
– If no established business credit history, can apply with a personal guarantee(PG)-minimum credit score of 640, does a hard pull

To Apply: At the dealership only

Terms: Lease or Loan