first time auto buyer program
Responsibly finance your first car with ALEC.
If you are looking for a way to finance your first car, then ALEC's first time auto buyer program might be the right option for you. Buying your first car is an exciting prospect. We hope to make the process of financing it as easy for you as possible.
Our first time auto buyer program is for members with little to no credit who are ready to buy their first vehicle. The program allows members to get that first car while building their credit history.
- Anyone 18 years and older who is eligible for ALEC membership.
- No prior auto loan history as indicated on a credit report.
If you are a parent or guardian, you can help with the process by being a guarantor on the loan. There are additional family pricing discounts available when a guarantor is added to a loan.^ Family pricing requires a guarantor, which is not the same as a cosigner. The guarantor is not required to take ownership of the vehicle. They will only be responsible for making payments should the primary borrower fail to do so themselves.
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:
Get the loan process started by submitting an online application.
Complete Your Loan Documents
Once you have your purchase agreement, we will help you finalize your loan documents.
Get a Loan Check
You are all set to make your purchase.
Auto Loan Calculator
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 advice. We cannot and do not guarantee their applicability or accuracy regarding your individual circumstances.