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Lease Alternative Loan

Drive the vehicle you want with lower monthly payments.

Are you being forced to compromise on your dream car just to fit your budget? If so, our Lease Alternative Loan might be the solution you need! This loan offers low monthly payments with no down payment required. Plus, unlike leasing, the vehicle is titled in your name, meaning you actually own the car.

Illustration of Man Driving Car

You Own It

Unlike a lease, you are the titled owner of the vehicle. and can sell it back once the balance is paid off and contract obligations are met.

Lower Payments

Enjoy lower payments than traditional financing (based on the difference between the residual value and total amount financed) on similar-term loans.

Illustration of woman signing paper

No Hidden Fees

Experience the convenience of no up-front or early termination fees and no additional insurance premiums to worry about.Fees apply if member chooses walk away (turn in) option

Payment Example 2022 Ford F-150 Super Duty

Lease Alternative LoanTraditional Loan
Loan Amount$60,000$60,000
Loan Term60 months60 months
Guaranteed Future Value$21,518Residual value determined at time of origination. N/A
Monthly Payments$920Payments 1-47 are $395 with a final payment of $10,025 if member chooses to keep vehicle. $1,176

Other Great Benefits

No Down Payment

Hooray for no down payments! Unlike most leases that require a downpayment, the Lease Alternative Loan doesn’t. Pretty cool, right?

No Security Deposit

Unlike most leases, there’s no security deposit required with the Lease Alternative Loan. It’s one less thing to stress about!

You Own It

Enjoy more control over your vehicle since it’s titled in your name, giving you greater flexibility throughout the loan and at the end of it.

No Early Payoff Penalty

Since you’re the owner, you can pay off the loan, sell the vehicle, or use it as a trade-in anytime without significant penalty for early termination.

No First & Last Payments

Good news! With the Lease Alternative Loan, you don’t have to make first and last payments at the time of loan disbursement like many leases require.

Mileage Options

Choose a 12k, 15k, or 18k miles per year plan that suits your needs. Excess mileage is only $.10 per mile, much lower than a lease that costs up to $.25 per mile.

No “Back End” Surprises

Rest assured that there are no hidden fees associated with this loan, either during the term or at the end if you choose to return the vehicle. Unlike leases which often have unclear excess wear and tear clauses.

Local Return Option

Say hello to flexibility. If you move during your loan term and you want to return the vehicle, you can do so wherever you are. There’s no need to return it to the original dealership, like with most leases.

Private Auto Insurance Flexibility

Choose the private auto insurance coverage that suits your needs. No more being limited by someone else’s insurance requirements.4 

Realistic Residual Value

The Lease Alternative Loan uses standard industry residual values. The residual value is not inflated to arrive at an arbitrary lower payment. This means if you elect to keep the vehicle upon loan termination, you will not have to pay an inflated price to pay off the loan.

Get Started Now. It's Easy!

We make it easy to get started. Have questions and want to talk? We're here for you.
Call us at 800.456.3000 or visit your local branch.