Ally Financial launches Ally Buyer’s Choice

Article by Christian A., on November 1, 2011

Ally Financial is unveiling a new kind of loan -- an auto loan that comes with an option for the client to sell the vehicle, 48 months into the loan, to the company at a guaranteed price. Tim Russi, executive vice president of North American Operations for Ally, disclosed that what is new with the auto loan is the certainty of the vehicle's value. He further stated that the preset price mimics the residual value on a 48-month lease.

This loan program is dubbed as the Ally Buyer's Choice, and is already in the pilot phase with a few prominent Chrysler Group and General Motors dealerships in Florida, California, New York, Texas and Illinois, Russi disclosed.

The pilot is set to begin rolling out to all dealerships in those states on November 1. The company intends to roll it out across the United States eventually. Russi stated that as with any other loan, the client can sell or trade in the vehicle at any point.

However, the preset price applies only in the 48th month of the loan. Russi explained that the 48-month point is critical for the OEM, the consumer and the dealer, as it is the time when clients begin to consider how long they will want to keep their vehicle. Ally may eventually vary the program to provide different intervals for the option-to-sell clause, Russi stated further.

Topics: ally financial

If you liked the article, share on:

Pin It

Comments

Recommended

British startup Zenos, which entered bankruptcy administration earlier this year is now back in business. The Norfolk-based sports car manufacturer was bought by a consortium of investors headed by AC...
by - March 29, 2017
It’s quite safe to say that this generation marks the rise of the electric cars. For the past few years, automakers have been very busy trying to find the perfect...
by - March 28, 2017
Want to go for a sportier look, but don’t have enough cash to burn? Good news for future Ford Edge buyers, as the 2018 model year will have an optional...
by - March 28, 2017
Audi refreshes its portfolio as its go-faster division officially announces the release of six new RS models by the end of 2018. That’s quite a huge number of cars to...
by - March 28, 2017
Has Toyota started the production of a new electric supercharger? Well, a patent that was recently published indicated that they might have. And this electric supercharger looks more durable and...
by - March 27, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries