You may be wondering what makes Guthrie Community Credit Union’s Advantage Plus auto loan different from a conventional auto loan. While a conventional auto loan can put you in the driver’s seat of a new vehicle with competitive rates and flexible terms, an Advantage Plus auto loan can provide you with even lower payments similar to leasing a vehicle, but with the greater flexibility of ownership.
Yes, unlike a lease, you actually own the vehicle and enjoy the benefits that come with vehicle ownership. This means you have the option to sell, trade, refinance, pay off the loan (including residual value), or even turn in the vehicle at loan maturing and simply “walk away” from the residual value. In fact, you can sell, trade, refinance, or pay off at any time. This innovative new loan provides a cost-effective way to easily upgrade your vehicle every few years.
Pay for what you use
When you take an Advantage Plus auto loan, you’ll be given a guaranteed future value for your vehicle at the end of the monthly payments. That’s the amount you’ll owe when the payments are finished If you’d like to keep the vehicle. You can pay it in a lump sum or refinance and continue to make monthly payments. Simply put, instead of paying for the entire vehicle, you are just paying for what you use, with the guarantee future value held as the cost if you’d like to keep it at the end of the term. Borrowing this way enables you to benefit from significantly lower monthly payments.
Up 40% lower payments with Advantage Plus Auto Loan
Yes, you read that right, you can enjoy up to 40% lower payments than conventional vehicle loans when you choose an Advantage Plus auto loan. A low payment alternative to leasing, the Advantage Plus auto loan can help you get behind the wheel of a new car faster and with a payment you can afford. Just imagine the savings of a payment that’s up to 40% lower.
If you’re worried about getting bogged down with a large monthly auto loan payment, an Advantage Plus car loan may be the ideal solution. It can put the car of dreams within reach. This might mean paying hundreds less per month based on the cost of the vehicle. Payments are lower based on the difference between the residual value and the total amount financed.
Advantage Plus Auto Loan Benefits
- Lower monthly payments than conventional vehicle loans
- You own the vehicle – titled in your name
- Available for new or used vehicles up to 5 model years old
- No down payment required
- No upfront fees
- Flexible terms from 24-72 months
- No early payoff penalty
- No high insurance premiums
- Annual mileage options of 12,000, 15,000, and 18,000
Compare and Save with an Advantage Plus auto loan
With an Advantage Plus auto loan, you can take advantage of the low monthly payments of a lease without all of the restrictions and fees involved in leasing. Drive away with a lower monthly payment with no money down. It’s a great way to get into a brand-new vehicle every few years with a lower payment that fits your budget. Shopping around for a competitive vehicle loan deal? Compare rates and payments, apply for a car loan, or learn more about the Advantage Plus auto loan at Guthrie Community Credit Union.
In closing, with the Advantage Plus auto loan, you will benefit from no prepayment penalties, lower monthly payments than conventional loans, and ownership benefits and financing options. The residual value of the vehicle is based on the term of the loan using industry-approved guidelines, similar to leasing. As we mentioned above, if you decide anytime throughout your loan term that you don’t want to keep your vehicle, you can sell it and pay the loan balance, including the residual value. You can also use the vehicle as a trade-in and the residual value is paid as part of the transaction. It’s a win-win when looking to finance a new car and benefit from an affordable monthly payment.