Ally’s Clearlane to finance

Ally Financial has launched an online marketplace called Clearlane designed to provide a simple and straightforward way for consumers to connect with leading auto finance providers to locate finance for vehicles.

Customers can use the marketplace to connect with numerous national, regional and local providers, offering auto finance and refinance products.

The Clearlane site was brought to market following Ally’s acquisition of BlueYield, a California-based technology company, in 2016.

The site was enhanced to simplify the customer journey and experience, and rebranded to align with Ally’s broad assortment of products and services.

According to data from the site, customers reduced their monthly payment on average by $100 per month by refinancing their vehicles with a new provider.

Tim Russi, president of auto finance at Ally, said: “With Clearlane, Ally adds a unique online platform to our digital financial products and services in the auto space, allowing consumers to easily secure financing or refinance their vehicle through a trusted source.

“We are excited about the opportunities to offer more financing and F&I products through the platform in the future, and to eventually leverage the technology to power online sales for our dealers.”