Ally Financial offers personal and business auto financing options in association with thousands of dealers across the United States. Personal financing options include the purchase or lease of a vehicle. Ally Buyer's Choice loans allow customers to sell vehicles back to the company, notes Ally Financial.
Personal automotive loans from Ally Financial permit the borrower to purchase a vehicle and assume control and responsibility of its maintenance, mileage, repair and appearance. Lease loans restrict a borrower's control over these areas within prescribed leasing company guidelines in lieu of a lower monthly payment as compared to a purchase loan, according to Ally Financial.
The Ally Buyer's Choice loan permits a borrower to sell a purchased vehicle back to the company after a four-year or six-year contract period. This program is a bridge between a purchase loan and a lease. Customers may choose to continue to pay off the loan or trade the vehicle back to the company at any time after the contract period, states Ally Financial.
Business loans from Ally Financial include the ComTRAC lease that covers passenger cars as well as light and medium duty trucks. The SmartLease program covers the lease of a vehicle during its warranty period. The company also offers leases on municipal vehicles at lower interest rates, Ally Financial reports.