Ally Financial Announces 90-Day First Payment Deferral for Disaster Relief

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Nov 07, 2012, 09:00 ET

DETROIT, Nov. 7, 2012 /PRNewswire/ -- To assist auto customers in areas affected by Superstorm Sandy, Ally Financial will offer a 90-day payment deferral program on the purchase of all new GM and Chrysler 2012 and 2013 vehicles financed by Ally. The program is effective Nov. 7, 2012 through Jan. 2, 2013.

The program allows eligible creditworthy customers residing in counties impacted by Superstorm Sandy to buy a new vehicle and defer the first payment for up to 90 days. It applies to both standard rate and manufacturer-incentivized financing contracts. Commercial vehicle sales for business use are also eligible.

"We recognize the devastation and difficulty caused by the superstorm, and Ally Financial is offering this program as a means to provide some relief to people who need to purchase a new vehicle in the affected areas," said Tim Russi, executive vice president of Ally's North American Operations.

Ally Financial also has been assisting dealers in the hurricane region to get back up and running quickly.

"Ally contacted dealers in advance of the hurricane to work with them and ensure vehicle inventory was secured when possible," said Tom Callahan, Ally Insurance. "Ally has deployed its field team to the areas affected by Superstorm Sandy and we are actively working with dealers that have Ally wholesale insurance to help them resume normal business operations."

About Ally Financial Inc.
Ally Financial Inc. is a leading automotive financial services company powered by a top direct banking franchise. Ally's automotive services business offers a full suite of financing products and services, including new and used vehicle inventory and consumer financing, leasing, inventory insurance, commercial loans and vehicle remarketing services. Ally Bank, the company's direct banking subsidiary, offers an array of deposit products, including certificates of deposit, savings accounts, money market accounts, IRA deposit products and online checking. Ally's Commercial Finance unit provides financing to middle-market companies across a broad range of industries.

With approximately $182 billion in assets as of Sept. 30, 2012, Ally operates as a bank holding company. For more information, visit the Ally media site at http://media.ally.com or follow Ally on Twitter: @ally.

Contact:
Sue Mallino
Ally Financial Communications
313-656-6970
[email protected]

SOURCE Ally Financial