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Auto Loans

auto loans

Flexible terms, fast approval, excellent service, and great low rates.

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new and used auto loans

save on your next car and lock in a great rate.

Get on the road to savings with quick and easy financing with ALEC.

ALEC Auto Loans feature:
  • Rates as low as 4.99% APR* on new and used autos up to 72 months
  • Better than dealer pricing on auto loan protection products
  • Fast approvals when you apply online
  • Up to 0.50% discount off our current rates1
  • Easy payment methods and no prepayment penalty 

Apply online or through the ALEC Mobile app. You can also visit an ALEC Service Center or call us 24/7 at 800.762.9988.

*APR = Annual Percentage Rate. All loans subject to credit approval. All loans subject to credit approval. Your actual APR depends on credit history. Advertised rate valid on New and Used Auto Loans up to 72 months applied for from November 1 – December 31, 2024. Loan must close during the promotion period to qualify for the advertised rate. 
1Disclosed rate includes 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 0.50% APR discount with a $500 monthly direct deposit into an ALEC Checking account and enrollment in E-Statements. Maximum financing up to 115% MSRP for qualified borrowers.
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What Can We Help You With?

Find a Car

Buy a New Car

Buy a Used Car

Refinance a Car

Rates with APR* as low as

4.99%
APR* up to
72 months

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. Whether you are 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. Looking for a great auto loan? Ours comes loaded with these standard features:

  • Competitive interest rates on cars and trucks, new and used
  • Rapid approval notification when you apply online*
  • Up to a 0.50% discount off our current rates1
  • Flexible terms up to 84 months
  • No prepayment penalty
  • Up to 115% financing of the value of new and used autos
  • Easy methods for monthly payments — via online, automatic withdrawal, telephone, and mail
  • 24/7 online and phone support
* APR = Annual Percentage Rate. 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 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.
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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 will help you finalize your loan documents.

Step
3
Get a Loan Check

You are all set to make your purchase.

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Auto Loan Rates

ALEC is proud to provide outstanding rates and term lengths to all members of our banking family.


TypeLoan TermsAPR* as low as 1
New Auto Loans 2,3
2023-2024 less than 5,000 miles		Up to 36 months4.49%
48 months4.99%
60 months5.24%
72 months5.49%
84 months5.99%
Used Auto 2
2017-2022 and
2022-2024 with over 5,000 miles		Up to 36 months5.24%
48 months5.49%
60 months5.74%
72 months5.99%
* APR = Annual Percentage Rate. 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 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.
2 Refinance of existing ALEC Auto Loans excluded.
3 84-month loans are available with a minimum $25,000 loan amount.

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 with regard to your individual circumstances.

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

Auto Loan Resources

Buying A Car

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 & Home Insurance

Great insurance for your car and home — with exceptional savings.

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.

Ready to Get Started?

Apply Online

Use Our Mobile App

Visit a Service Center

Call 800.762.9988