DETROIT – Ally Financial plans to expand the offering of its flexible Ally Buyer’s Choice product to 12 additional states in December. The product will be available in 17 states by the end of the month and the company plans further expansion of the product to additional markets across the country in the coming months.
Ally Buyer’s Choice is an innovative financing product that delivers the best of both worlds for consumers who want the advantages of both buying and leasing. The product is available on new 2011 and 2012 General Motors and Chrysler vehicles.
Ally Buyer’s Choice allows consumers to own their vehicle including a fixed rate and payment with the option to sell it to Ally at the 48th month of their contract, at a pre-determined price. The product is ideal for consumers interested in purchasing a vehicle, rather than leasing, but provides the flexibility during the ownership experience to sell the vehicle to Ally, should their needs or preferences change.
“Ally Buyer’s Choice is a true differentiator in the market and provides great flexibility and choice for consumers,” said Tim Russi, executive vice president, North American Operations for Ally Financial. “Historically, consumers have only had two options when shopping for a new vehicle – financing or leasing. With Ally Buyer’s Choice, we’ve created a third option to help meet a variety of needs for dealers and consumers.”
Vehicle financing terms through Ally can range from 60 months to 84 months. At the 48th month, customers can choose to sell their vehicle to Ally or continue making monthly payments for the duration of the finance contract, if they wish to keep their vehicle.
Ally Buyer’s Choice also provides another flexible financing option for dealers to offer customers, allowing them to meet a variety of customer needs. The product may reduce the customer’s buying cycle time, increasing showroom traffic and vehicle service opportunities.
Ally Buyer’s Choice debuted in five states in November and will be available in the following 17 states in December.
Available December 1:
California, Florida, Illinois, New York, Texas, Michigan, Ohio, Pennsylvania, New Jersey, North Carolina, Georgia, Missouri, Maryland and Washington
Available December 12:
Arizona, New Mexico and Kentucky
About Ally Financial
Ally Financial Inc. (formerly GMAC Inc.) is one of the world’s largest automotive financial services companies. The company offers a full suite of automotive financing products and services in key markets around the world. Ally’s other business units include mortgage operations and commercial finance, and the company’s subsidiary, Ally Bank, offers retail banking products. With approximately $182 billion in assets as of Sept. 30, 2011, Ally operates as a bank holding company. For more information, visit the Ally media site athttp://media.ally.com.