Alliance Credit Union
800.232.8669 Routing Number : 321176804
800.232.8669   Routing Number : 321176804

Auto Loan Frequently Asked Questions

Here are answers to the most common questions we get.

If you have more, please call our Service Center at 800.232.8669 or 408.445.3386, Monday-Friday 6 a.m.-6 p.m. Pacific. Press “0” and a Service Center representative will be happy to help.

1. How much does it cost to apply for a loan?

Not a cent! We never charge for applying or getting an auto loan with us.

2. Does it matter if I want a New or Used car?

Your choice. We offer attractive rates and terms for both.

3. What will my interest rate be?

That will depend on your credit and other criteria. We’ll assign your request to one of our credit specialists who will determine the best rate for your credit situation. The rate we offer will depend on these variables:

  • The amount of your down payment
  • Your credit history
  • Whether you are buying a new or used vehicle
  • The term of repayment you choose

4. I have limited or no credit history. How can I get approved for a car loan?

We get it. Applying for a car loan with limited or no credit history can be frustrating. Consider applying with a co-signer. Co-signers agree to be equally responsible for repayment, and their excellent credit history can support your lack of established credit.

You might also begin with a smaller loan amount to establish a repayment history. Along with other factors, we take a large down payment and a smaller loan request into consideration. Additional factors may include:

  • A long-term employment history
  • A shorter repayment term
  • Other established sources of payment history, such as a long-term apartment rental, or established repayment on a utility bill

We’ll always review your request and make recommendations that may help you obtain your first auto loan.

5. Why should I refinance my existing car loan?

There are a several reasons to consider refinancing with us. Lowering your interest rate is the most common reason. If rates have fallen since you got your loan, this could be a good time to consider refinancing. Call us at 800.232.8669 and we can determine your savings.

Another reason: Lowering your monthly payment. You can do this by reducing the interest rate you’re paying as mentioned above, or by extending the term of repayment. Again, we’ll calculate your monthly savings when you call 800.232.8669.

6. What are the standard Terms of Repayment?

Anywhere from 24 months to 84 months for New and Used vehicles for model years 2004 and newer. Taking the shortest term within the payment range you can afford will maximize your savings. Sixty months or five years is the most common repayment term people choose. Terms of 24 to 60 months are available on model years 2003 and older.

7. Is there a pre-payment penalty on my auto loan?

Not to worry. There are no pre-payment penalties on any loans we offer.

8. Does Alliance offer Protection on my loan?

Yes. We offer protections including Life, Disability, and Unemployment. You may choose one or a combination to ensure the safety of your family and your credit in case of unexpected circumstances.

There’s also GAP, or Guaranteed Accident Protection. It happens. Your car is stolen or “totaled” and your loan balance is more than the car is now worth. GAP will pay the “gap” between what your insurance company will pay and any remaining balance on the loan. And when you finance your replacement vehicle with us, GAP coverage will give you $1,000 toward your new purchase.

MBP or Mechanical Breakdown Protection. Here’s some relief when unexpected repairs are needed. We offer a variety of coverages to fit any budget. 


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