Auto financing can be a little confusing. That’s why we have this short video to help explain. Vehicle contracts are broken down into two parts that comprise your total monthly payment, the outstanding balance of the amount financed and the finance charge. The most important thing you should know is to always pay on time. When your account is kept current and you pay early or extra, your outstanding balance reduces faster and you’ll end up paying less in finance charges. All of which helps you pay off your account sooner than expected.
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Chucho on February 24, 2018 at 7:54pm
How can I make principal payments in Ally bank
Ally on February 26, 2018 at 9:49am
Hi Chucho, we have several payment options including by mail, phone, online, and through our mobile app. Learn more about your options here: http://www.ally.com/auto/payment/.
Lee on April 13, 2018 at 11:35pm
Every month I pay extra on my monthly payment. Will the extra amount automatically go towards my principal balance or do I need to call and ask.
Ally on April 16, 2018 at 9:48am
Hi Lee, please give us a call at 1-888-925-2559 or chat with us online at ally.com so a member of our team can look into your specific account and discuss further.
Kevin on February 10, 2020 at 9:38am
Ally, won't let you pay towards the principal. They just push your next payment date out father. Stay away from this bank if your trying to pay extra payments to pay your loan off sooner.
Jake on April 19, 2020 at 9:25am
You guys actually really suck, what a poor excuse for a loan company.
Tom on December 16, 2020 at 3:34pm
Hello: Please give me a step by step procedure to make an auto payment only towards the principle, online or through the ally app. I can't seem to get to the point in the payment process where it actually provides an option to pay towards the principle only. Thanks
Ally on December 16, 2020 at 3:56pm
Hi Tom, if you’ll please give us a call at 1-888-925-2559, or log into your auto account to chat with us online at ally.com, one of our team members will be more than happy to help answer your questions.
Kathy on December 29, 2020 at 7:10pm
My payment is due on the 5th just got statement in . Is there a grace period?
Ally on December 29, 2020 at 7:11pm
Hi Kathy, a team member would be happy to look into your specific account, and discuss your options further – just give us a call at 1-888-925-2559.