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Auto Loans


The perfect way to keep your automotive dreams on a roll.


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The perfect way to keep your automotive dreams on a roll.

Whether you’re somewhat of a fanatic about the vehicle you drive, or someone who simply appreciates a dependable mode of transportation, ALEC has an auto loan that will make you happy. 

Shopping for a vehicle? Our free Auto Buying Service, powered by TrueCar® — our national auto purchasing partner— helps you find the car you want, see what others have paid for it and enjoy guaranteed savings.^

Looking for a great auto loan? Ours comes loaded with these standard features:

  • Competitive rates on cars and trucks, new and used
  • Instant approval notification when you apply online** 
  • Up to a 0.25% discount off our current rates*** 
  • Flexible terms up to 84 months 
  • No prepayment penalty 
  • Up to 115% financing of the value of new and used autos 
  • Easy repayment methods — via online, automatic withdrawal, telephone and mail
  • 24/7 online and phone support

 

Get more mileage from your loan.
In addition, ALEC offers special options that help ensure maximum peace of mind — now and well down the road. Our Loan Protection Products provide enhanced coverage from the unexpected — for both your vehicle and your loan. 

  • Credit Life and Disability Protection — two affordable plans designed to ease the financial burden on you and your family in cases of injury, illness or death
  • Guaranteed Asset Protection — the difference between your vehicle’s retail value and the amount you owe is covered if your car is stolen or totaled in an accident 
  • Mechanical Breakdown — extended warranty coverage provides protection for expensive repairs beyond the manufacturer’s warranty period, at just a fraction of what you would pay elsewhere


Ready to set the wheels in motion?

ALEC makes it easy to apply for an auto loan online or via the ALEC Mobile App. Or you can visit an ALEC Service Center. Or call 800.762.9988. 

Click here to view our current rates.


Account Type Loan Term APR* as low as
New Auto Loans  1, 2
(2016-2017 less than 5,000 miles)
37 to 48 months 1.99 %

49 to 60 months 2.24 %

61 to 72 months 2.49 %

73 to 84 months 4.24 %



Account Type Loan Term APR* as low as
Used Auto Loans (2010-2016) 1 Up to 48 months 1.99 %

49 to 60 months 2.24 %

61 to 72 months 2.49 %

*APR = Annual Percentage Rate. All loans subject to credit approval. Disclosed rates include ALEC’s 0.25% APR discount. ALEC members will automatically earn a 0.25% 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 0.25% 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 115% MSRP for qualified borrowers. All loans subject to credit approval. Rates subject to credit history, term and other factors. Not all applicants will qualify for our lowest rates. Rates can change daily. 

1. Refinance of existing ALEC Auto Loans excluded.

2. 84 month auto loans are available with a minimum $25,000 loan amount.

Interested in saving more money? If you’re currently paying a higher rate on a loan at another financial institutions, consider refinancing it.

This convenient loan comparison tool makes it easy to determine whether refinancing with ALEC makes sense for you. 

Loan Saver® allows you to enter your current information, and then shows you how much money you could save with a loan from us. 

















Shop with ease. Buy with confidence. Save with certainty. 

Who doesn’t get excited about the thought of sliding behind the wheel of a beautiful new car? 

But shopping around can be laborious, and haggling over price can be a hassle.

ALEC’s Auto Buying Service, powered by TrueCar®, our national auto purchasing partner, is designed to save you time as well as money. With the Auto Buying Service, you can find the car you want, see what others have paid for it and enjoy guaranteed savings.* 

In fact, according to TrueCar, consumers who use TrueCar save an average of $3,221 off MSRP.** Best of all, you’re under no obligation whatsoever to purchase.

It’s remarkably easy to buy a car. Here’s how it works:

  • Get preapproved online for an ALEC auto loan, over the phone, or at your nearest ALEC Service Center
  • Visit our Auto Buying Service online and research a new car based on your preferences or search thousands of pre-owned inventory and see dealer-guaranteed prices 
  • Print your Guaranteed Savings Certificate, which includes a summary of your car and your dealer contact information, so you can arrange a test drive and confirm availability 
  • Present your Guaranteed Savings Certificate to your dealer for an easy and hassle-free car-buying experience 

Plus, with the upfront, transparent pricing TrueCar provides, you can eliminate unpleasant, hidden surprises that have hit uninformed buyers in the past. 


Ready for a great car-buying experience? 

Discover why TrueCar isn’t just a different way to buy a car. It’s a better way. To get rolling, simply click here. You can also visit an ALEC Service Center. Or call 800.762.9988.


Get Started


* Guaranteed Savings represents the amount a TrueCar Certified Dealer guarantees you will save off the Manufacturer's Suggested Retail Price ("MSRP") on any in-stock vehicle that is the same make, model and trim as your preferred vehicle. The Guaranteed Savings is based on a vehicle without factory or dealer installed options and includes generally available manufacturer incentives. Guaranteed Savings currently not available in all states. In these instances, a "target price" is presented, which reflects a market-based example of what you can reasonably expect to pay for a vehicle configured with your desired options. 

** Between 7/1/16 and 9/30/16, the average estimated savings off MSRP presented by TrueCar Certified Dealers to users of TrueCar powered websites, based on users who configured virtual vehicles and who TrueCar identified as purchasing a new vehicle of the same make and model listed on the certificate from Certified Dealer as of 10/31/2016, was $3,106. Your actual savings is based on multiple factors including the vehicle you select, region, dealer, and applicable vehicle specific manufacturer incentives which are subject to change. The Manufacturer's Suggested Retail Price ("MSRP") is determined by the manufacturer, and may not reflect the price at which vehicles are generally sold in the dealer's trade are as not all vehicles are sold at MSRP. Each dealer sets its own pricing. Your actual purchase price is negotiated between you and the dealer. TrueCar does not sell or lease motor vehicles.

All loans subject to credit approval. Rates subject to credit history, term, and other factors. 


^Guaranteed Savings represents the amount a TrueCar Certified Dealer guarantees you will save off the Manufacturer's Suggested Retail Price "MSRP" on any in-stock vehicle that is the same make, model and trim as your preferred vehicle. The Guaranteed Savings based on a vehicle without factory or dealer installed options and includes generally available manufacturer incentives. Guaranteed Savings currently not available in all states. In these instances, a "target price" is presented, which reflects a market-based example of what you can reasonably expect to pay for a vehicle configured with your desired options.

** All loans subject to credit approval.

*** ALEC members will automatically earn a 0.25% 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 don't meet the above criteria earn the 0.25% APR discount with a $500 monthly direct deposit into an ALEC Checking account and enrollment in E-Statements.