Buy a used car; hand holding key fob in a 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 used 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:


Step

1
Apply Online

Get the loan process started by submitting an online application.

Step

2
Complete Your Loan Documents

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

Step

3
Get a Loan Check

You’re all set to make your purchase.


Get Started


Used 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

Used Auto

2014-2019 and 2020-2021 with over 5,000 miles

Up to 36 months

1.99%


48 months

1.99%


60 months

1.99%


72 months

2.99%

Late Model Used Auto

2013 and older

Up to 60 months

4.99%





Auto Loan Calculator

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$
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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.


Want to know just how much you can save when you finance your auto loan with ALEC?


Check out our Auto Loan Savings Calculator



Used Car Loan Resources

Car Buying Mistakes

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

Guaranteed Asset Protection

Protect the ‘gap’ between your settlement and loan balance in the event of an accident.

Auto Insurance

Get comprehensive used auto insurance that suits your lifestyle best.

Mechanical Breakdown Protection

This extended warranty covers expensive repairs beyond the manufacturer’s warranty period, at just a fraction of what you would pay elsewhere.

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.

Car Buying Mistakes

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

Guaranteed Asset Protection

Protect the ‘gap’ between your settlement and loan balance in the event of an accident.

Auto Insurance

Get comprehensive used auto insurance that suits your lifestyle best.

Mechanical Breakdown Protection

This extended warranty covers expensive repairs beyond the manufacturer’s warranty period, at just a fraction of what you would pay elsewhere.

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.


Used Car Loan Frequently Asked Questions

Q: Can I shop for cars directly from ALEC?

A: All members can enjoy our auto buying service portal. Search, compare and buy with confidence using ALEC’s transparent pricing guides.

Q: Is my credit score too low to apply for a used car loan?

A: There is much more to the loan application process than credit scores. If you are concerned that your score is too low to make the cut, it will be important to start implementing strategies now to boost your score in the future.

Q: Does ALEC offer auto refinancing for used vehicles?

A: Please contact the member help center at 847.688.8000 for information regarding used auto loan refinancing.


Ready to get started?

To get rolling, simply click the button below. You can also visit an ALEC Service Center or call us at 800.762.9988.


Apply Now


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.


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