Ally to Offer APR, FICO Score and Secure Email for Auto Consumers
MIAMI — Ally announced yesterday at the National Association of Minority Automotive Dealers (NAMAD) annual convention that, starting July 19, it will add customers' annual percentage rate (APR) to their online account profiles. The finance source will provide customers with their FICO Score and has launched a secure email feature on its site to help customers send and receive account information and documents quickly and safely.
Ally's decision to provide FICO Scores for customers was announced earlier this year at President Obama's BuySecure event. The move is designed to help consumers monitor their credit health. Ally has also added tips and information to its financial literacy resources that explain the significance of a consumer's FICO Score and how it impacts the auto finance process.
"In the digital world, having the tools to manage and monitor finances has become increasingly important for many consumers," said Tim Russi, president of auto finance at Ally. "By offering direct access to their FICO Scores and APR within their online accounts, Ally is adding a new level of transparency, and making it easier and faster for them to access their account details and credit information."
Ally customers will be able to access their APR, FICO Score and secure email by logging into their existing auto online account or creating an online account at www.ally.com/auto/. Dealers can also point car buyers to Ally’s Wallet Wise website at www.allywalletwise.com. There they’ll find information on the impact a FICO score has on APR as well as additional tips and resources on the car-buying process. Educational course on budgeting, credit, banking and investing are also available through the site.
More Industry

Ownership Priorities are Shifting
A new survey shows that in the U.S. vehicle quality for generation Z is largely defined by advanced safety features, intuitive technology and premium sound systems.
Read More →
Pump Price Jump Calculated
ISeeCars.com examined fuel costs for different power trains, finding which ones have experienced the biggest hits since the war in Iran commenced.
Read More →
Black Book: Weekly Market Update
Wholesale values fell last week despite the spring season still being in the traditional full-gear mode, analysts said.
Read More →
Arkansas Auto Group Acquires First Indiana Rooftop
Performance Brokerage Services represented both the buyer and seller in the sale of Carver Toyota of Columbus by Carlock Automotive Group.
Read More →
Stellantis to Dive Into U.S. Lending
The multinational maker of Chrysler, Dodge, Jeep, Ram and multiple other brands received conditional approvals for a Utah-based industrial bank.
Read More →
New-Vehicle Prices Rise
With April sales down, higher prices on in-demand large vehicles helped inflate the overall ATP, though increases were under long-term averages, Cox Automotive reported.
Read More →
Black Book: Weekly Market Update
Last week in the wholesale automotive market proved to be a mixed bag, analysts reported.
Read More →
Black Book: Weekly Market Update
Conversion rates were flat last week at 63%, Black Book analysts calculated, as low-mileage and almost-near units outpaced the overall market.
Read More →
EU Auto Association Urges Action
Trade relations between the European Union and the U.S. are at risk, causing the European Automobile Manufacturers Association to push lawmakers to make a decision.
Read More →
Driving into the Super CFC Era
Understanding the risks and benefits of retail accounting and Super CFCs can help you better present options to your dealer partners.
Read More →