DETROIT, March 21, 2018 -- Clearlane, Ally's online auto financing platform, today announced the development of Clearmatch, a digital service that will allow customers to be approved for financing on vehicles in dealer inventories. With Clearmatch, shoppers will get pre-qualified for financing online and then be able to browse the inventory at dealerships participating in the program to find a vehicle in their price range. Once customers select a vehicle, they will be able to get approved for financing digitally.
"Clearmatch will transform the car-buying experience, improving the process for both consumers and dealers. For consumers, it's all about speeding up the process," said Jeff Danford, senior vice president of Clearlane. "We help consumers explore their options, so when they get to the dealership they're ready to finalize the purchase and financing with the dealer and drive home in their vehicle."
Clearlane is launching a pilot of the new service, which will allow dealers to present their inventory and pricing online, and lets customers select vehicles in real-time from dealer inventories and apply for financing online. Clearmatch will be rolled out to dealers on a regional basis starting in late April.
Through Clearmatch's online application process, customers will be able to:
- Get pre-qualified without any impact to credit score.
- Browse vehicles from multi-dealer inventories.
- Compare offers from multiple financing sources.
- Have their financing applications approved directly by the financing source.
Once they have completed the online process, customers will take their approval certificate to the dealership, where the dealer will work with them to finalize the purchase and financing. Since much of the vehicle and finance shopping was done at the consumer's convenience, time needed for closing at the dealership is significantly reduced.
"Clearmatch will allow customers to easily take care of their financing online and have a faster close at the dealership – which can be a key dissatisfier," Danford said. "Meanwhile, dealers will benefit from happier, more satisfied customers."
Clearlane will demonstrate the Clearmatch program at the Ally booth at the NADA Show in Las Vegas March 22-25.
Ally launched Clearlane in April 2017 to digitally connect consumers with finance providers who can provide vehicle financing quickly and easily. For more information about Clearmatch or Clearlane, visit www.clearlane.com.
About Ally Financial Inc.
Ally Financial Inc. (NYSE: ALLY) is a leading digital financial services company with assets of $167.1 billion as of December 31, 2017. As a client-centric company with passionate customer service and innovative financial solutions, Ally is relentlessly focused on "Doing it Right" and being a trusted financial partner for its consumer, commercial, and corporate customers. Ally's award-winning online bank (Ally Bank, Member FDIC and Equal Housing Lender) offers mortgage-lending services and a variety of deposit and other banking products, including CDs, online savings, money market and checking accounts, and IRA products. Ally also promotes the Ally CashBack Credit Card. Additionally, Ally offers securities brokerage and investment advisory services through Ally Invest. Ally remains one of the largest full-service auto finance operations in the country with a complementary auto-focused insurance business, which together serve more than 18,000 dealer customers and millions of auto consumers. Ally's robust corporate finance business offers capital for equity sponsors and middle-market companies.
For more information and disclosures about Ally, visit https://www.ally.com/#disclosures