Help Center

Business Finance & Lease FAQs

  • What types of business leasing does Ally offer?

    We have three lease products for businesses:

    • SmartLease® – a closed-end lease that has a fixed term and mileage limit
    • ComTRAC® – an open-end lease that gives businesses more control of leasing terms and mileage, while holding the business liable for the vehicle’s depreciation
    • Municipal Lease Purchase Plan – a leasing plan specifically designed for municipalities that intend to own their vehicles.
  • What types of business auto financing does Ally offer?

    We offer financing for new and used vehicles for business applicants with prime or non-prime credit.

  • How much auto industry experience does Ally have?

    Ally has a 90-year history of working with auto dealerships. Today, we offer a diverse set of products that include:

    • Retail and wholesale auto financing
    • Vehicle service contracts
    • Vehicle maintenance contracts
    • Other protection products, such as GAP
    • SmartAuction
    • Dealership training
  • What are business-only transactions?

    Business-only transactions provide eligible, established companies with a previous Ally payment history the ability to get financing solely in the company's name without the need for a guarantor or co-buyer on every transaction.

  • Will Ally approve transactions in a business name only?

    Every transaction is evaluated independently, with the strength of the transaction determining if business name only is an option.

  • Does Ally offer a program to keep business obligations off a business owner's personal credit bureau report?

    Yes. Designed exclusively with the business owner in mind, our Third-Party Guaranty allows business owners to keep their business transactions at arm's length and their personal name off the vehicle contract and title.

    The business owner still provides the additional financial backing that Ally may require, while keeping his or her personal credit free and clear of business obligations, except in the event of default.

  • What does the term "commercial" mean with regard to auto finance?

    Vehicles that are integral to a business are defined as "commercial" or business-use vehicles.

    In some cases, commercial/business vehicles are modified, or up-fitted, to enhance their ability to better serve their owners. Plumbers, construction workers, or delivery drivers, for example, sometimes need a specially-equipped vehicle for their day-to-day business operations. The volume requirements of commercial customers vary dramatically. Some customers operate one vehicle at a time. However, other customers operate several thousand vehicles.

  • Will Ally finance a commercial body that is added to a vehicle chassis?

    Yes. Ally will finance eligible conversion packages, including:

    • Refrigerated bodies
    • Utility bodies
    • Dump bodies
    • Storage boxes
  • Are there business auto finance tools available?

    Yes. The Business Finance and Lease Quick Links document lists many helpful tools and resources, such as:

    • Customer Application and Credit Review Forms
    • Notice to CoSigner / Guarantor Obligation Forms
    • SmartLease and ComTRAC Lease Forms
    • Retail Forms
    • Contract Processing Resources

    We also have a ComTRAC Quick Quote tool that can be used to create ComTRAC estimated quotes. To generate a complete quote or contract for our ComTRAC and Municipal programs, logon to the dealer portal and access:

    • ComTRAC Quote & Document Generator
    • Municipal Quote & Document Generator