Buy a new car; back end of car

What Can We Help You With?

At ALEC, 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.

Easy Loan Application Process

Skip lengthy dealership paperwork and shift your gears into savings by using our online loan applications. Getting new car loan pre-approval with ALEC is as easy as 1-2-3:


Apply Online

Get the loan process started by submitting an online application.


Complete Your Loan Documents

Once you have your purchase agreement we’ll help you finalize your loan documents.


Get a Loan Check

You’re all set to make your purchase.

Apply Today

Car 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

New Auto

2021-2022 less than 5,000 miles

Up to 36 months


48 months


60 months


72 months


84 months


Auto Loan Calculator

Est. Monthly Payment: 0

All examples are hypothetical and are for illustrative purposes. Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances.

New Car Loan Resources

Car Buying Mistakes

Protect yourself from expensive errors by researching your next used vehicle purchase ahead of time.

Vehicle & Loan Protection

Find peace of mind and be ready for the unexpected with our Auto Loan protection products.

Auto Insurance

Get comprehensive used auto insurance that suits your lifestyle best.

First Time Auto Buyer Program

ALEC's first time auto buyer program might be the right option for you if you are looking for a way to finance your first car.

Auto Buying Service

Use our online Auto Buying Service to research new cars and receive your Guaranteed Savings Certificate.

Auto Loan Calculator

Use our calculator to help you determine whether you should take advantage of low interest financing or a manufacturer rebate.

New Car Loan Frequently Asked Questions

Q: What are some of the other benefits of getting a new car loan from ALEC?

A: Members of ALEC enjoy 115% financing, zero prepayment penalties, no payments for 90 days, and a 0.50% APR discount off current rates when applicants meet qualified conditions.

Q: How can I refinance my new vehicle through ALEC?

A: Contact the member service team at 847.688.8000 to discuss your refinancing options, or schedule an appointment online with us now.

Q: Where can I find new cars with my auto loan pre-approval application?

A: ALEC members have access to our premier auto buying service. This helpful portal eliminates hidden fees, unnecessary stressors, and the extra legwork often required when purchasing a new car.

Ready to get started?

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.

* APR = Annual Percentage Rate. 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 115% MSRP for qualified borrowers.

Refinance of existing ALEC Auto Loans excluded.