Help Center

Commercial Financing & Leasing FAQs

  • What are Business-Only Transactions?

    Business-only transactions provide eligible, established companies who have 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.

  • What is a commercial line of credit?

    Our commercial line of credit provides qualified business customers with an additional source of funding for use in the purchase or lease of commercial vehicles.

    Your customers with a commercial line of credit are pre-approved, so whenever they need more vehicles for their business, they simply go back to you and “sign and drive”.

    As long as they maintain eligibility, there is no need for them to present financial statements with every transaction, or wait long periods for credit approvals.

  • 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 would still provide the additional financial backing that Ally may require, while keeping their personal credit free and clear of business obligations, except in the event of default.

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

    Yes. Ally will finance eligible conversion packages, including, to name a few:

    • Refrigerated bodies
    • Utility bodies
    • Dump bodies
    • Storage boxes
  • How can I help a customer decide if retail financing is right for their business?

    If any of the following statements define your business customer's buying habits, traditional retail financing may be a better choice for them:

    • Their business intends to own these vehicles for more than just a few years
    • Their company personnel consistently drives each vehicle well over 15,000 miles a year
    • Their business plans to materially alter the vehicle's appearance by changing the paint scheme or adding an upfit that cannot be easily removed without damage to the vehicle
    • They feel more comfortable with the idea of owning a vehicle rather than leasing
  • What are the benefits of a commercial line of credit?

    A commercial line of credit gives your customers:

    • Easy and flexible service
    • An additional source of capital specifically designed for vehicle funding
    • Streamlined delivery process
    • An easy way to preserve bank lines of credit for other short-term needs
  • What does the term "commercial" mean with regard to auto finance?

    Vehicles that are integral to a business are defined as "commercial." These dedicated work vehicles make businesses run. In many cases, these vehicles are modified to enhance their ability to better serve their owners.

    Plumbers, construction workers, or deliver drivers, for example, sometimes need a vehicle that is specially equipped for their day-to-day business operations. The volume requirements of commercial customers vary dramatically. Some customers, such as tradespeople, operate one vehicle at a time. However, other customers operate several thousand vehicles.

  • How long has Ally been working with auto dealerships?

    Ally is built on the foundation of GMAC's 90-year history of working with auto dealerships. Today, we are one of the nation’s largest providers of:

    • Auto financing
    • Vehicle service contracts
    • Vehicle maintenance contracts
    • F&I products
  • How much does it cost for a customer to establish a commercial line of credit?

    There is no charge to establish or maintain a commercial line of credit.

  • I have a customer whose business needs 20 vehicles immediately at various dealerships throughout the United States. Will a commercial line of credit help?

    Yes, definitely. We established our commercial line of credit to speed up processing time on multiple transactions so customers can get quick decisions for purchases just like this. Customers who use our commercial line of credit provide financial data one time, up front for consideration.

    With a commercial line of credit, your customer wouldn't have to provide this financial information for each transaction, 20 different times at multiple dealerships.

  • Is a commercial line of credit limited to certain products or lines of business only?

    No. Once established, a commercial line of credit can be used to purchase any light- or medium-duty vehicles. It can also be used on most body packages and commercial vehicle upfits, as well as other products such as extended service contracts.

  • How will my customers benefit from a commercial line of credit?

    Once a commercial line of credit is established, it streamlines the delivery process and allows you to work on other opportunities, such as:

    • Monitoring scheduled maturities
    • Evaluating the condition of fleet vehicles
    • Tending to additional business needs

    Offering a commercial line of credit to all of your customers, even those who buy only 2 or 3 vehicles per year, will simplify their transactions. We believe they will reward you with repeat sales and long-term loyalty because you make it easy for them to do business with you.

Related FAQs

Municipal Lease-Purchase Plan   View All

  • What is the Municipal Lease-Purchase Plan?

    The municipal lease-purchase plan is a retail financing program for eligible municipalities or political subdivisions who want to own essential-use vehicles and finance them at favorable, tax-exempt interest rates.

  • Who do I contact with questions about the Ally Municipal Lease-Purchase Plan?

    Call your local Ally Commercial Product Specialist at 1-800-471-4622, Mon-Fri, 7:30 am - 7:30 pm CT.

  • What vehicles are eligible for the Ally Municipal Lease-Purchase Plan?

    The following vehicles are eligible for the Ally Municipal Lease-Purchase Plan:

    • New and used passenger cars of any make or model
    • Light- and medium-duty trucks
    • Certain upfitted vehicles
    • Emergency vehicles
  • Is the Ally Municipal Lease-Purchase Plan open to any tax-exempt organization?

    No, entities must be qualified political subdivision of a state government. They must qualify as tax-exempt under Section 103 of the IRS Code.

    However, tax-exempt status alone does not automatically quality an entity as eligible for a municipal lease-purchase with Ally.

    Examples of tax-exempt, non-municipal entities that do not qualify are churches, charities, and private hospitals. Federal government agencies also do not qualify.

    Municipalities should consult with their legal or tax advisors regarding tax-exempt status and qualification for a municipal lease-purchase plan with Ally.

  • What is the maximum term for an Ally Municipal Lease-Purchase Plan?

    For new vehicles, the following maximum terms apply:

    • Medium-duty trucks - 5 years
    • Passenger cars - 4 years
    • Light-duty trucks - 4 years
    • Police and public safety vehicles - 3 years or 4 annual payments

    For used vehicles, the following terms apply:

    • Current series used through 1 year old - 3years

Open-Ended Commercial Lease   View All

  • Who do I contact with questions about the ComTRAC Open-Ended Commercial Lease program?

    Call your local Ally Commercial Product Specialist at 1-800-471-4622, Mon-Fri, 7:30 am - 7:30 pm CT.

  • What are a customer's options at the end of the ComTRAC Open-Ended Commercial Lease?

    The customer's options at lease end are:

    • Purchase the vehicle by paying the residual value plus any unpaid payments and charges. Financing may be available with Ally.
    • Trade in the vehicle to a dealer and have the dealer pay the amount due.
    • Return the vehicle to Ally for remarketing. The customer will incur a disposal fee of $250 for a light-duty vehicle or $500 for a medium-duty vehicle. If the net sale proceeds are less than the residual value plus unpaid payments and charges, the customer is responsible for the difference.

    For details, call your local Ally Commercial Product Specialist at 1-800-471-4622, Mon-Fri, 7:30 am - 7:30 pm CT.

  • What vehicles are eligible for the ComTRAC Open-Ended Commercial Lease program?

    New and used passenger vehicles and light and medium duty trucks, including most upfits, are eligible for ComTRAC

  • Is GAP insurance available for a ComTRAC Open-Ended Commercial Lease?

    At this time, we do not offer GAP insurance for ComTrac Open-Ended Commercial Leasing.