buying
a car
Learn everything you need to know to get a great deal when buying or refinancing a car.
When you're ready to buy a car, we're here to help.
Buying a car can be a fun and exciting process, but it can also be intimidating. ALEC is here to help you find your dream vehicle, build your car-buying knowledge so you can secure the best deal, navigate auto loan rates and terms, and decide exactly when to refinance to meet your needs.
Car Buying Guide
While shopping for a vehicle is exciting, it can also be complicated and time-consuming. There are many factors to consider, including:
- The monthly payment you can afford.
- Whether you should buy or lease a vehicle.
- What you get with on-the-lot financing.
- How car buying services work.
- How to get the very best deal.
- And more.
Understanding how auto loans work and thinking carefully about what's best for you before you buy (or lease) will help you drive away happy. Click to access our resources and learn all of these things, and more.
ALEC Auto Loans
Our team is dedicated to lending a hand to our members to make the process of obtaining a new car loan as easy as possible. Our auto loans come loaded with these great standard features:
- Competitive interest rates on cars and trucks, new and used.
- Rapid approval notification when you apply online.
- Up to a 0.50% discount off our current rates.1
- Flexible terms up to 84 months.
- No prepayment penalty.
- Up to 125% financing of the value of new and used autos.
- Easy methods for monthly payments — via online, automatic withdrawal, telephone, and mail.
- 24/7 online and phone support.
Refinancing a Car Loan
Refinancing an auto loan can often save you money or better meet your changing needs. But if you refinance at the wrong time, you could actually end up losing money.
Learn when you should and shouldn’t refinance, as well as:
- How to get the best rate.
- How to refinance without any stress or hassle.
- How refinancing affects your credit score.
- And more.
Click to access all of our auto loan refinance resources now.
Auto Loan Rates
ALEC is proud to provide outstanding rates and term lengths to all members of our banking family.
| Type | Loan Terms | APR* as low as 1 |
|---|---|---|
| New Auto Loans 2,3 2025-2026 less than 5,000 miles | Up to 36 months | 4.49% |
| 48 months | 4.74% | |
| 60 months | 4.99% | |
| 72 months | 5.24% | |
| 84 months | 5.74% | |
| Used Auto 2,3 2019-2025 and 2025-2026 with over 5,000 miles | Up to 36 months | 4.49% |
| 48 months | 4.49% | |
| 60 months | 4.49% | |
| 72 months | 4.49% | |
| 84 months | 5.99% |
Smart Money U™ is the smart way to move toward your financial goals.
Credit card bills, debt, and saving may not be top of mind for you, but the financial decisions you make today will have a long-term impact on your life. Smart Money U will prepare you with the right skills to manage your financial future. The Smart Money U platform contains a myriad of valuable resources, including interactive educational videos in the ALEC LearningLab+, financial articles, podcasts, calculators, and more.
ALEC LearningLab+
Click on a course below to begin your personal learning experience.
A1 Credit ToolNew to the world of credit and interested in learning about its impact on your financial situation? This helpful learning experience is a good match for anyone looking for a foundation when it comes to credit, budgeting, and savings. |
Aligning PrioritiesDeciding which expenses are most important for you and how to adjust your budget? Changes to our financial lives can often result in stress, making the decisions even more challenging. |
Navigating Auto BuyingBuying a car can feel simultaneously exciting, intimidating, and confusing. This course will cover action steps you can take to feel prepared and confident in your financing. |
Webinar: 5 Tips to Improve Your Credit ScoreLearning about credit and why it matters. |
Webinar: How Do I Build Credit?What's the best way to build up your credit history? This brief highlight from the educational webinar "Building Credit From Scratch" shares specific options. |
Check out some of our helpful calculators:
Other Educational Resources
Have questions? We are here to help!
Disclaimers
These resources are intended to provide general information and shouldn't be considered financial, legal, or tax advice. It's always a good idea to consult a financial or tax advisor for specific information as it applies to your individual financial situation.
1. Disclosed rates include ALEC’s 0.50% APR discount. ALEC members will automatically earn a 0.50% APR discount if they are new members applying for a loan within the first 60 days of membership OR if they are a returning ALEC loan member. Existing members that do not meet the above criteria earn the 0.50% APR discount with a $500 monthly direct deposit into an ALEC Checking account and enrollment in E-Statements. Discount not valid on credit cards, mortgage and home equity line of credit. Your rate may be higher depending on your credit history, age of vehicle, term of your loan and services used. Maximum financing up to 125% MSRP for qualified borrowers.