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Buy New Car

buy a new car

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 will help you finalize your loan documents.

Get a Loan Check

You are all set to make your purchase.

New Car 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 months4.74%
60 months4.99%
72 months5.24%
84 months5.74%
* 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?

New Car Loan Frequently Asked Questions

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

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.

How can I refinance my new vehicle through ALEC?

Contact the member service team at 800.762.9988 to discuss your refinancing options, or schedule an appointment online with us now.

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

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.