Ally Expands Buyer’s Choice to 12 Additional States
Ally Financial announced that its Ally Buyer’s Choice program will be in 17 states by Dec. 12.
DETROIT — Ally Financial said it plans to expand its Ally Buyer’s Choice product to 12 additional states in December. The product will be available in 17 states by the end of the month and the company plans further expansion of the product to additional markets across the country in the coming months.
Ally Buyer’s Choice combines the advantages of leasing with the benefits of financing a vehicle at a fixed rate and payment. The main benefit to consumers is that they can sell their vehicle back to Ally at the 48th month of their contract at a pre-determined price. The product is available on new 2011 and 2012 General Motors and Chrysler vehicles.
“Ally Buyer’s Choice is a true differentiator in the market and provides great flexibility and choice for consumers,” said Tim Russi, executive vice president of North American Operations for Ally Financial. “Historically, consumers have only had two options when shopping for a new vehicle — financing or leasing. With Ally Buyer’s Choice, we’ve created a third option to help meet a variety of needs for dealers and consumers.”
Vehicle financing terms through Ally can range from 60 months to 84 months, according to Ally. At the 48th month, customers can choose to sell their vehicle to Ally or continue making monthly payments for the duration of the finance contract if they wish to keep their vehicle.
The product debuted in California, Florida, Illinois, New York and Texas in November. States added today include Michigan, Ohio, Pennsylvania, New Jersey, North Carolina, Georgia, Missouri, Maryland, Washington. By Dec. 12, the new finance option will be available in Arizona, Mexico and Kentucky.
More Auto Finance

Top Five Credit Application Fraud Flags
Compliance audits regularly reveal bad habits that can lead to fraud charges and should have been stamped out decades ago.
Read More →
More Auto Loans for the Taking in August
Riskier categories were on the uptick for the month as lenders loosened access in several areas while balancing out the exposure in another, Cox Automotive reported.
Read More →
July Was Hot for Auto Borrowers
Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
Read More →
Dealer Lender Preferences Revealed
When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.
Read More →
Auto Refi Savings Surge
Consumers with 84-month auto loan terms who refinanced saved the most on monthly payments, according to a new report by auto refinancing provider Caribou.
Read More →
Subaru Enters Lending Business
The automaker follows other brands in adding captive financing in the U.S., and says the move will strengthen its position here.
Read More →
Positive Equity Reaches Record High
Mainstream vehicle owners who bought a car seven years ago are likely to have positive equity when trading in for a new vehicle, according to second-quarter Edmunds data.
Read More →
Dealerships Are Paying the Price for Extended Car Loans
Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
Read More →
Trade-Ins in Negative Equity Reach New Heights
As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.
Read More →
Auto Credit Plentiful
June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.
Read More →