DETROIT, May 10, 2018 /PRNewswire/ -- Ally today
announced that it has signed an agreement with Sonic Automotive,
Inc. (NYSE listed: SAH), a Fortune 300 Company and one of the
largest retailers of new & pre-owned vehicles in the United States. EchoPark Automotive
launched in the fall of 2014, and has been well-received for a
revolutionary used car experience in Denver, San
Antonio, and now expanding to the Dallas market. Effective this month, Ally is
the provider of vehicle service contracts (VSCs) and guaranteed
asset protection (GAP) coverage for the group's EchoPark
dealerships in Colorado and
Texas.
Through the agreement, EchoPark customers will have the option
of adding Ally GAP and Ally Premier Protection service contracts to
their purchases. GAP covers the difference between the cash value
of a vehicle and the outstanding balance of a customer's loan if
the vehicle is totaled or stolen. Ally Premier Protection covers
the repair cost for over 7,400 mechanical, electrical and safety
components on a vehicle, as well as some related expenses such as
trip interruption, rental car coverage, towing and 24/7 roadside
assistance.
"With the EchoPark dealerships, Sonic is reshaping the
perception and customer experience of pre-owned vehicle
dealerships. At Ally, we share that passion for serving the
customer and are excited to work with EchoPark to provide
additional value and peace of mind with our products,'' said
Mark Manzo, president of Ally
Insurance.
EchoPark is a pre-owned vehicle dealership focused on customer
experience and making it easy to search for, buy and sell pre-owned
vehicles. With modern showrooms that are integrated with
technology, EchoPark dealerships create a car-buying experience
that allows customers to seamlessly transition between the online
and in-store shopping experience. Since 2014, EchoPark has expanded
to eight dealerships in Colorado
and Texas, with additional
locations opening later this year.
"Exceptional customer experience and satisfaction are what
EchoPark was founded on, and Ally's dedication to the customer is
an excellent match for our dealerships," said Jeff Dyke, executive vice president of
Operations of Sonic. "We look forward to working with Ally to offer
F&I products that will provide customers with great value and
the peace of mind that comes with knowing their vehicles are
protected."
About Ally Financial Inc.
Ally Financial Inc. (NYSE: ALLY) is a leading digital financial
services company with assets of $170.0
billion as of March 31, 2018.
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.
About EchoPark
To learn more about EchoPark please
visit EchoPark.com
Media contact:
Brenda Rios, Ally
Phone: 313-656-6809
E-mail: Brenda.rios@ally.com
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SOURCE Ally Financial