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Alliant Credit Union Auto Loans Calculator & Overview

Carla Soto
Carla Soto
Updated 09 September 2023
Fact checked

A quick review of Alliant Credit Union auto loans

Alliant Credit Union logo

Alliant Credit Union offers a wide range of new and used car loans, loans for RVs and Tesla EVs, and other types of vehicle financing. Potentially low rates and long repayment terms are available for eligible borrowers. Application is available in all 50 states regardless of citizenship status as long as the applicant is qualified for membership. If purchasing through Alliant’s Car Buying Service, you can qualify for a 0.50% rate discount. There is also a Vehicle Service Program that offers up to 25% savings on car repairs and maintenance nationwide.

How much can an Alliant Credit Union auto loan potentially cost you? How about other types of vehicle financing? Check out the Alliant Credit Union auto loan calculator below! Enter your desired loan amount and repayment term to view an estimate. You can easily adjust the numbers until you finally like what’s on the screen.

Key Alliant Credit Union auto loan features

  • Minimum loan amount: Undisclosed
  • Maximum loan amount: Undisclosed
  • Interest rates: Annual Percentage Rate (APR) is based on many factors including the applicant’s credit standing, down payment, collateral, and payment method. Loans start from 5.75% APR over 60 months for new cars; from 6.12% APR over 60 months for used cars and vehicle refinance; from 9.12% APR over 60 months for older used cars; from 7.04% APR over 120 months for recreational vehicles; from 6.24% APR over 60 months for new Tesla vehicles; from 6.59% APR over 60 months for used and refinanced Tesla vehicles. See the product table below for more details.
  • Loan terms: Up to 84 months for new and used cars; up to 84 months for new and used Tesla vehicles; up to 240 months for new and used recreational vehicles.
  • Loan fees: No application or origination fees.
  • Discounts: Advertised rate already included 0.40% off APR for automatic payments; another 0.10% savings is available if the applicant uses Alliant’s Car Buying Service.

Alliant Credit Union car loan options

New vehicle finance

  • Interest rates vary based on collateral, down payment, LTV ratio (loan to value), loan term, and the applicant’s creditworthiness.
  • Loans start from 5.25% for terms between 12 and 36 months; from 5.50% APR for terms between 37 and 48 months; from 5.75% for terms between 49 and 60 months; from 6.10% APR for terms between 61 and 72 months; and, from 6.75% APR for terms between 73 and 84 months.
  • The minimum loan term is 12 months and the maximum loan term is 84 months.
  • Rates on the website are already discounted to include an automatic payment option. It will be 0.4% higher if the applicant does not choose an auto-pay facility.
  • Final rates, loan terms, and conditions from the credit union can change without prior notice.

Used vehicle finance

  • Interest rates vary based on collateral, down payment, LTV ratio (loan to value), loan term, and the applicant’s creditworthiness.
  • Loans start from 5.62% for terms between 12 and 36 months; from 5.87% APR for terms between 37 and 48 months; from 6.12% for terms between 49 and 60 months; from 6.47% APR for terms between 61 and 72 months; and, from 7.12% APR for terms between 73 and 84 months.
  • Rates for older used vehicles (10 to 15 years) start from 9.12% over 60 months.
  • The minimum loan term is 12 months and the maximum loan term is 84 months.
  • Rates on the website are already discounted to include an automatic payment option. It will be 0.4% higher if applicant does not choose an auto-pay facility.
  • Final rates, loan terms, and conditions from the credit union can change without prior notice.

Vehicle Refinance

  • Vehicle refinancing of new and used cars from other lenders is available.
  • A payoff letter from the current auto lender must be included in the application.
  • The applicant will pay for the transfer of title and other fees.
  • If refinancing an existing Alliant car loan, rate will be 1% higher than what is advertised.
  • Loans start from 5.62% for terms between 12 and 36 months; from 5.87% APR for terms between 37 and 48 months; from 6.12% for terms between 49 and 60 months; from 6.47% APR for terms between 61 and 72 months; and, from 7.12% APR for terms between 73 and 84 months.

RV loans

  • The loan is applicable to campers, motorhomes (class A, B, C), and travel trailers (conventional, expandable, fifth-wheel) that are used by weekenders and full-timers alike.
  • Loans cannot be granted to these RVs: cargo trailers, custom RVs, off-road trailers, park model RVs, Prevost buses, tiny homes, tow vehicles, and truck campers.
  • The maximum vehicle age is 15 years old.
  • Maximum vehicle mileage should not go beyond 75,000 miles.
  • Alliant can cover up to $400,000 with a maximum 20-year loan term.
  • If applying for a private party auto loan, the credit union can finance up to $100,000 only.
  • Loans start from 7.04% over 120 months; from 7.29% over 144 months; from 7.54% over 180 months; and, from 7.79% over 240 months.

Tesla vehicle finance

  • Approvals for Tesla loans are valid for 60 days only.
  • Loans are not applicable to other types of electric vehicles (EVs).
  • New Tesla loans start from 6.24% over 60 months while used and refinanced Tesla loans start from 6.59% over 60 months.

Vehicle Finance through Alliant’s Car Buying Service

  • Search for your dream car from than 20,000 trusted certified service providers nationwide.
  • Interest rates start from 5.25% APR for a 60-month term on new vehicles and from 5.62% APR for a 60-month term on used vehicles.
  • Enjoy a 0.50% rate discount when you set up an automatic payment option.
  • Get an average $2,019 savings off your MSRP when you buy from licensed TrueCar motor vehicle dealers.
  • Get FREE Carfax reports on pre-owned and used vehicles.
  • Alliant has financing options for over 30 brands on new vehicles and up to 60 brands on used vehicles. Select make here.

Lease buyout loans

  • An ideal option if you want to purchase your leased vehicle, powered by Lease Maturity Services.
  • Loans are available for any budget or credit score.
  • Final rates are undisclosed but you can speak to a highly trained representative at 833-306-5148 from Monday to Sunday.
  • There are optional extended service contracts and extended warranties for your peace of mind.
  • Get assistance on licensing, registration, and transfer as well as titles and tax work.
  • Do all of this without leaving the comfort of your home.

Alliant Credit Union auto loan calculator

Provider
Product Information
EST Monthly
Repayment
Interest
Rate
Repayment
Period
Loan
Amounts
Sort loans by

Loan Amount

$25,000

Term

60 months

Change
Alliant Credit Union

Alliant Credit Union auto loan

Alliant Credit Union auto loan
Estimated Month Repayments
$595 Inclusive of fees
Interest Rate
15.00%
APR
Repayment Period
12 months
to 72 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Get a low interest rate Alliant Credit Union auto loan
Featured
Achieva Credit Union

Achieva - New Auto Loan

Estimated Month Repayments
$437 Inclusive of fees
Interest Rate
1.89%
APR
Repayment Period
12 months
to 84 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Low fixed interest rates. Flexible terms. Same-day approvals. No hidden fees.
Featured
Bank of America

Bank of America auto loan

Estimated Month Repayments
$595 Inclusive of fees
Interest Rate
15.00%
APR
Repayment Period
12 months
to 72 months
Loan Amounts
$5,000
to $100,000
GO TO SITE
Get a low interest rate Bank of America auto loan

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Minimum and maximum loan periods vary between 1 month and 10 years. Annual Percent Rates (APR) vary between 4.99% and 35.99% p.a. Total interest repayments vary between $592 and $916 over the life of the loan. *APR is based on an unsecured loan of $20,000 over a term of 3 years. WARNING: This APR is true only for the examples and may not include all charges. Different terms, fees or loan amounts might result in a different APR. These rates can change without further notice.

How to apply for an Alliant Credit Union auto loan

Eligibility criteria

  • You must be a member of Alliant Credit Union.
  • You must be at least 18 years old or have the legal capacity to contract for car financing in your state of residence.
  • You must be either a U.S. citizen or a U.S. resident alien (permanent or non-permanent).

Additionally, if you want to secure a low-interest auto loan from Alliant, it’s a good idea to do the following:

  • Check your credit. The higher your score, the better rates you will be offered.
  • Get a co-signer. Having a co-signer with good credit standing can further your negotiating power and lower your borrowing risk.
  • Consider a bigger down payment. The more the total cost of the vehicle out of the way, the bigger possibility of getting approved for a lower rate or lower payment.

How to join Alliant Credit Union

There are many ways to qualify for membership at Alliant Credit Union. You can join as long as you meet one of these eligibility requirements:

  • Your residence, business, or place of employment is within any of the 20 eligible communities near Alliant’s Illinois headquarters.
  • You are related by marriage, blood, or adoption to a current Alliant member.
  • You are an employee (current or retired) from an Alliant-recognized organization or business partner.
  • You have made a one-time $5 membership fee to Foster Care to Success (FC2S).
  • View the complete membership eligibility requirements at the Alliant website.

To join the credit union:

  • Fill out the online application or download the membership enrollment agreement and send it by mail.
  • Provide a copy of any U.S. government-issued photo ID (driver’s license, passport, state ID) with your current residential address.
  • Open either a Savings or Checking account by making a minimum $25 deposit. There are two ways to do this: transfer from your external account or pay through any of Alliant’s deposit-taking ATMs near you.

For non-US citizens or U.S. resident aliens:

  • When you fill out the membership application form, check the box indicating your request for IRS Form W-8BEN.
  • Submit a copy of either of the following: an unexpired ITIN or a valid Social Security number.
  • If there is other documentation needed, the credit union will contact the Internal Revenue Service (IRS) for this.

What you’ll need to have ready:

When you apply for auto financing with Alliant Credit Union, you’ll be asked to provide personal information such as:

  • Proof of identity such as a picture ID (driver’s license, government or state-issued ID, or passport)
  • Proof of residence to show your complete physical and mailing address such as a utility bill or lease agreement
  • Citizenship status
  • Social Security Number or ITIN
  • Email address
  • Proof of employment, business, or sources of income
  • W-2s, federal tax returns, and financial statements
  • Proof of good credit standing
  • If applying for a joint account, the secondary applicant’s information

If you are using Alliant Car Buying Service:

  • Search the extensive inventory for a new or used vehicle.
  • Get a certificate from your preferred Certified Dealer to secure a purchase price and guarantee your savings.
  • Submit your application online or via a phone representative at 800-328-1935.
  • Wait for at least one business day to get a decision from the credit union.
  • Bring your locked-in price certificate to the dealership and make the down payment.
  • Send the purchase agreement to the credit union to finalize your loan application.
  • Expect the approval of your auto loan within one business day.

If you’re buying out a leased vehicle:

  • Call 833-306-5148 to determine the best option to buy out your current leased vehicle.
  • Fill up the application form at the online portal here.
  • For more information regarding Alliant’s lease buyout loans, visit the Lease Maturity Services website.

Ways to apply for an Alliant auto loan:

  • Apply online by clicking the GO TO SITE link in the table below.
  • Alliant has an Illinois-based corporate office but it is not open to the public. If you need to talk to a loan representative, call 800-328-1935.

Additional Alliant Credit Union auto loan details

  • Automatic payment: Available.
  • Loan approval times: Same-day approval.
  • Rate discounts: 0.40% off for automatic payments; 0.50% off via Alliant Car Buying Service. Rate discounts cannot be combined.
  • Repayment frequency: Monthly.
  • Prepayment penalty: $0.
  • Co-borrowers allowed: Yes.
  • Co-signers: Yes.
  • Ways to repay: Online banking, mobile banking, phone banking, and mailed-in check.
  • Hardship program: Available.

Vehicle restrictions and limitations

  • Maximum vehicle age: 2022 or newer for new car loans and new Tesla vehicle loans; up to 15 years old for used car loans and RV loans.
  • Maximum vehicle mileage: Not more than 4,000 miles for new cars and new Tesla vehicles; up to 75,000 miles for RVs.
  • Other vehicle restrictions for new car loans:no previous title; only vehicles from franchised dealerships will be approved; loans for new commercial-use vehicles not available.
  • Other vehicle restrictions for used car loans: those with branded or salvaged titles are not accepted; only vehicles from franchised dealerships will be approved; loans for used commercial-use vehicles not available.
  • Other vehicle restrictions for new Tesla vehicle loans: no previous title.
  • Other vehicle restrictions for used Tesla vehicle loans: those with branded or salvaged titles are not accepted; only vehicles from franchised dealerships will be approved.
  • Other vehicle restrictions for RV loans: title must be in the name of an individual and not a business entity; only vehicles from franchised dealerships will be approved; funds will only be released after the vehicle is delivered to the borrower.

Pros and cons

Pros

  • A wide variety of auto finance and refinance options for cars, RVs, and Tesla vehicles (new and used).
  • Flexible repayment terms from 12 months up to 7 years for car loans and up to 15 years for RV loans.
  • Easy online application anytime, anywhere.
  • Same-day approval for eligible borrowers.
  • Allows co-signers and/or co-borrowers.
  • Deferred payment is allowed.
  • No prepayment penalty.
  • Rate discount for automatic payment.
  • Potential savings from MSRP and 50% off on APR when using Alliant’s Car Buying Service.
  • Up to 25% savings on car repairs and maintenance via Vehicle Service Program.
  • A wide range of auto insurance and loan protection plans are available.
  • Lease buyout loans are available.

Cons

  • Does not provide a minimum and maximum amount for most auto loan types.
  • Does not offer a soft credit check during the application process.
  • Does not process vehicle financing for commercial use or business purposes.
  • Restricts the type of vehicles that can be financed.
  • APR for an 84-month loan is 1% higher than for a 60-month loan.
  • A rate discount is not available without auto-pay.
  • No physical bank.

FREQUENTLY ASKED QUESTIONS

Are Alliant auto loans available in all 50 states?

Yes. Alliant auto loans are available in all 50 states. You can proceed with the application for vehicle financing or refinancing of a new and used vehicle as long as you are a qualified credit union member. The application can be done 24/7 through the online portal in a matter of minutes. Alternatively, you can speak with a loan representative about your auto loan application.

How long does Alliant take to approve an auto loan application?

Alliant understands how important it is for an individual to acquire a car. In many cases, you can get a decision within the same business day that you have applied. Loan specialists are readily available to help expedite the approval process. Furthermore, you can receive the funds without additional charges within two business days via FedEx.

Are Alliant auto loan interest rates fixed or variable?

AFFCU auto loans have variable interest rates. The credit union evaluates the applicant’s credit score to determine the approved APR. Other factors to be considered are the following: down payment, collateral, loan term, and payment method. Having a co-applicant or co-signed can also affect the final rate. Rates can change at any time without prior notice.

Are there discounts available on Alliant vehicle financing and refinancing?

Yes. The advertised rate reflect a 0.40% rate discount for automatic payments. A 0.50% discount on APR is also available if you purchase your vehicle through Alliant’s Car Buying Service. Moreover, you can also get a potentially low MSRP on your preferred vehicle if you buy from a TruCar certified dealer. However, rate discounts cannot be combined. Additionally, rate discounts are not available without an auto-pay arrangement.

What is the maximum term of an Alliant car loan, RV loan, or Tesla loan?

Term lengths vary based on the loan type. A repayment term of up to 84 months is available on car loans and Tesla loans. The maximum loan term for RV loans is 240 months. The minimum loan term is 12 months on all types of vehicles.

Does Alliant offer vehicle refinance loans?

Yes. Alliant offers refinancing for a wide variety of vehicle types with potentially lower monthly payments. Terms can last up to 84 months (7 years) for new and used cars as well as for new and used Tesla vehicles. Additionally, there is a 20-year term length for refinancing RV loans.

Are lease buyout loans available at Alliant?

Yes. Alliant allows borrowers to purchase their existing leased vehicles via Lease Maturity Services. For a hassle-free buyout process, call the service provider at 833-306-5148. Alternatively, you can proceed with your online application here.

Can I purchase a commercial vehicle with an AFFCU auto loan?

No. Alliant does not offer auto loans for commercial use. Vehicle financing and refinancing options are only available for private-use cars and other vehicle types that will not be used for business purposes. You can contact the credit union to find out if purchasing a commercial-use vehicle is possible under their secured loan options.

How much must I earn to qualify for an Alliant auto loan?

Alliant did not provide clear information about their minimum income requirement for auto loans and vehicle financing. However, you are required to submit documents regarding your employment, business investments, and other income sources. Most industry experts advise that you show proof that you’re consistently earning income for at least 6 months. This will show the credit union that you are able to pay your monthly amortization.

What information do I need to provide when applying for an auto loan at Alliant?

An Alliant loan application entails providing information related to your identity, place of residence, and citizenship. Prepare to submit documents about your credit score, income sources, and financial statements. If you have a co-applicant and/or co-signer, he or she will need to provide the same details.

Video: Alliant Auto Loan Refinance

Carla Soto
Carla Soto

Carla is a skilled copywriter at BestFind with a background in marketing and communications. She specializes in reviewing personal loan and finance products to help readers navigate the complex world of personal finance.

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