In order to buy or lease a vehicle with Ally, first you’ll need to visit your local dealership. Once you’ve found the right vehicle, you will need to decide whether buying or leasing a car is right for you. Your next move will be to negotiate the transaction details with your dealer. There are a variety of details you can negotiate: the agreed-upon value of the vehicle; how much you are willing to pay as a down payment (referred to as a “capitalized cost reduction” in a lease); and the term (the length of your retail installment sale contract or lease agreement).

Your local dealer can help you determine if you qualify for auto financing. If you qualify and wish to buy, you will enter into a retail installment sale contract, if you want to lease, you will enter a lease agreement. Under the terms of those documents, you agree to make your monthly payments. The dealer may then assign the retail contract or lease to Ally, including assigning the right to receive your monthly payments — and that’s how you become an Ally customer.

What are your financing options with Ally when you go to the dealership?

  • Buying a Car: When you finance the purchase of a vehicle, you make monthly payments until your retail installment contract has been paid off. Once you pay all amounts due under the finance contract, you own the vehicle outright and can keep it as long as you want to. Why buy? Learn here.
  • Leasing a Car: When you lease, you are using the vehicle and making monthly payments for a set term. At the end of your lease, you must return the car and may have an option to purchase it. Why lease? Learn here.
  • Ally Buyers Choice (ABC): If you aren’t sure whether you want to buy or lease, there’s another option! With Ally Buyers Choice, you get the benefits of buying and leasing — ownership with flexibility. Learn more about how Ally Buyer’s Choice works here. (Ally Buyer’s Choice is not available in Nevada.)
  • Ally Balloon Advantage: If you want buy and keep your monthly payments lower, consider Ally Balloon Advantage. With this option, you will make a larger, one-time payment at the end of your financing term. Learn more about how balloon financing works here. (Ally Balloon Advantage is not available in some states or for some vehicle options, read additional details here.)

Compare Your Auto Financing Options

Visit your local dealer for any questions about auto financing with your dealer and Ally!