In 2009, GMAC banking changed its name to Ally Financial. The company's Global Automotive Services continues to offer financing for vehicle purchases and leases. Any automotive loans opened with GMAC are payable to Ally Financial.Continue Reading
If you are unsure of your account number, contact Ally Financial to access your account. A Social Security number that corresponds to the vehicle's owner as well as the Vehicle Identification Number. The account information is available by phone and online.
Most people choose to pay off their automotive loan in regular monthly installments over the course of 4 to 6 years. These payments can be setup to be automatically deducted every month from the owner's bank account. Alternatively, payments can be made on a one-time basis. Although minimum payments are required, there is generally no penalty for pre-payment. Once the loan has reached a level that the owner can afford to pay off in one lump sum, some owners opt to pay off the loan in full before the loan has matured.
If it is desired to pay off the loan in one lump sum, Ally Financial must be contacted to provide an accurate payoff quote. The payoff quote is not the same as the current balance on the most recent statement. The current balance does not reflect daily interest that continues to accrue after the statement is issued. Once the payoff quote is in hand, the funds transfer can be arranged either electronically or with a paper check.
GMAC Auto Loans has been rebranded as Ally Financial; contact them by calling 1-888-925-ALLY(2559). Their hours of operation are Monday through Friday 8:00 a.m. to 8:00 p.m., and Saturdays 9:00 a.m. to 4:00 p.m.; they are closed on Sundays.Full Answer >
Ally Financial and Capital One are good companies that offer auto financing, according to Net Credit. Ally Financial offers several purchase or lease options, while Capital One offers purchase financing.Full Answer >
It is possible to refinance a car with bad credit, but it usually requires borrowing money in order to pay off the remainder of the loan. Although this sounds counterproductive, it can be beneficial if the owner is currently paying a high interest rate on his car payment.Full Answer >
You can only apply for a loan from TD Auto Finance through an authorized dealer, according to the bank's website. For a list of authorized dealers in your area, call TD Auto Finance at (866) 694-4392.Full Answer >