Minimize Your Monthly Payment
With the Lease-Like Auto Loan from The Atlantic Federal Credit Union, you can lock in a lower monthly payment than a traditional auto loan with the flexibility of vehicle ownership. Think of a lease without the mileage restrictions and without the fees!*
Consider the following example of a new vehicle with an MSRP of $56,600:
| Lease-Like Saver Loan | Traditional Loan | |
|---|---|---|
| Vehicle Valuation | $56,600 | $56,600 |
| Down Payment | $5,000 | $5,000 |
| Loan Term | 48 Months | 48 Months |
| Monthly Payments | $733.45 (5.99% APR*) | $1,211.59 (5.99% APR*) |
| Balance at Loan Maturity | $26,602 | N/A |
It's that easy to drive the vehicle of your dreams today at a lower monthly payment! At the end of the term of the Lease-Like Loan, you have the flexibility to refinance (subject to approval), trade-in or pay off the residual value of the vehicle.
Features:
- Monthly payments comparable to a lease, without the mileage restrictions or lease fees
- You own the vehicle, so the title is in your name
- Available for new vehicles with less than 7,500 miles
- Loan amount based on the purchase price less the residual value of the vehicle
- Terms up to 5 years
- Flexibility to trade-in, refinance (subject to approval) or pay off the residual value at the end of the loan term
- Get a pre-approval valid for 45 days for more bargaining leverage at the dealer
- Optional protection for your vehicle and to ensure your ability to pay the loan:
- GAP Coverage - Check out this quick video for more information on GAP Coverage and how it may benefit you.
- Mechanical Repair - To get more details about Mechanical Breakdown Protection, watch this informative clip.
- Debt Protection Plan - Not sure if Debt Protection is right for you? View this short video to learn why it could be.
Need Help Finding the Right Vehicle?
The Atlantic Federal Credit Union partners with the Costco Auto Program to help our Members find the right car as affordable and hassle-free as possible.