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?
|Account Type||Loan Term||APR* as low as|
| New Auto Loans |
(2015-2016 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 (2009-2015)||Up to 48 months||2.24 %|
| ||49 to 60 months||2.49 %|
| ||61 to 72 months||2.74 %|
*APR Annual Percentage Rate. All loans subject to credit approval. Rates subject to credit history, term, and other factors. Rates can change daily. Rate displayed includes a 0.25% APR rate discount. Returning loan members who have a current loan with ALEC and is applying for a new loan will automatically receive a 0.25% APR rate discount. New loan members who do not have any current loans with ALEC must have an ALEC Checking Account (Free or Rewards) with $500 monthly direct deposit AND be enrolled in E-Statements to be eligible for the 0.25% APR discount. Discount not valid on credit cards, mortgage, Rapid Refi and Home Equity Line of Credit. Maximum financing up to 115% MSRP for qualified borrowers. New auto includes model years 2015-2016 with less than 5,000 miles. Contact ALEC for rates for model years older than 2008. Minimum loan balance of $25,000 for 84 month term. Refinance of existing ALEC Auto Loans are excluded. To refinance an existing ALEC loan, the member is required to bring an additional loan to ALEC or an additional draw of $5,000.
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.
* 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 7/1/15 and 9/30/15, 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 a Certified Dealer as of 10/31/2015, was $3,279. Your actual savings may vary 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 area 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 with a loan from the credit union who receive approval for another loan automatically receive a 0.25% discount. Members with no loan from ALEC must have an ALEC checking account with a $500 direct deposit per statement cycle and be enrolled in E-Statements to qualify for a 0.25% discount. Discount not valid on credit cards, mortgages and home equity lines of credit.