Drive4Less: A Low Payment Alternative to Leasing
How would you like the low monthly payments of a lease, with fewer restrictions? Sound impossible? It’s not. Our Drive4Less program offers just that!
Like a lease, Drive4Less loans offer payments that are considerably lower than conventional financing. But unlike a lease, you'd own the vehicle and have all of the flexibility and benefits of vehicle ownership! Other benefits of a Drive4Less loan include:
- New and pre-owned vehicles up to five years old qualify
- Flexible loan terms of up to 72 months
- No down payment required
- Annual mileage options of 12,000, 15,000 & 18,000
- No early payoff penalty
- Refinance your current vehicle loan to reduce your monthly payments
- Enables you to easily upgrade and/or change your vehicle every couple of years
- Since the title is in YOUR name, you have more options prior to loan maturity and at loan maturity, including the ability to turn your vehicle in and walk away at the end of the loan term!
To find out more about our Drive4Less program, contact us, schedule an appointment, or use the calculator to learn how low your auto loan monthly payment can be!
Drive4Less vs Conventional Financing
- Lower monthly payments with payment savings as high as 40%
- Flexible loan terms from 24 to 72 months on all models up to five years old
- Payments are based on actual use of vehicle (depreciation) with final balloon payment based on the projected resale value of the vehicle at loan maturity
- Reduces negative equity risk factor associated with conventional financing
| Financing Option | Conventional | Drive4Less Loan |
|---|---|---|
|
Loan Amount |
$40,000 |
$40,000 |
|
Monthly Payments |
$723.02 |
$470.71* |
*Payments 1-59 are $470.71 with a 60th payment of $18,500 (GFV)
Residual Value and Guaranteed Future Value (GFV): The residual is the projected value of the vehicle at loan maturity. Our program guarantees this residual - we call it the "Guaranteed Future Value." If your vehicle is worth less than what you owe on your loan at maturity, you can turn the vehicle in and "walk away." In the example, Drive4Less is $252.31 less per month.
Drive4Less vs Leasing
- Unlike most leases, you can pay off your loan, sell, or trade your vehicle anytime with no pre-payment penalty, OR
- Simply return the vehicle at loan maturity instead of paying the final balloon payment and walk away with no end-of-loan term hassles
- Unlike leasing, both new and pre-owned vehicles up to five years old qualify for the Drive4Less low payment financing
- Unlike leasing, you own the vehicle (titled in your name – not the leasing company’s)
- Lower excess mileage charge than most leasing programs of only $0.10 per mile
- Drive4Less loans require no money down
- Moving? No problem. Unlike leasing, if you choose to turn your vehicle in, we’ll pick it up anywhere in the United States
Looking for something else?
Check out more auto loan options here.
All Rates
| Maximum Terms | Financing | APR* |
|---|---|---|
|
48 Months |
90% High KBB |
6.24% |
|
60 Months |
90% High KBB |
6.49% |
|
72 Months |
90% High KBB |
6.74% |
|
84 Months |
90% High KBB |
6.99% |
*Annual Percentage Rates effective December 15, 2024 and subject to change without notice.
Maximum term dependent on purchase price and mileage. Auto loans up to $10,000: maximum term 60 months. Auto loans
$20,000 or more: maximum term 84 months. Gas vehicles exceeding 120,000 miles: maximum term 72 months.
Add .50% to rate for gas vehicles exceeding 100,000 miles and diesel vehicles exceeding 150,000 miles.
Purchase: Front end LTV >90%, add .25%; >100%, add .50%; >110%, add .75%; >120%, add 1.00%. Maximum LTV 130%.
Refinance: Back end LTV >100%, add .25%. Maximum LTV 130%.
Learn More and Apply
More Features
Terms Up to 84 Months
Keep your monthly payments nice and low with flexible terms up to 84 months.
Rate Equality
We practice Rate Equality, so every qualified member gets the same low rate.
Refinance
Why pay more than you have to? Save on your existing auto loan by refinancing at a lower rate with us.
Credit Union Direct Lending (CUDL)
We work with most local area dealerships to make purchasing your car right at the dealer a breeze.
Private Sales
No dealership? No problem! You can get a low-rate auto loan even if you buy from a private seller.
MemberGuard™ Protection
Protect your loans now for life's unexpected surprises. MemberGuard™ Protection can cancel your loan payments if you become involuntarily unemployed, sick, or injured. It can also repay your loan, up to the policy maximum, if you become deceased.
Learn MoreMembership Status
TruStage Auto Insurance Program
Protect your new vehicle with ease. Working with carefully selected auto insurance partners, the TruStage Auto Insurance Program can provide discounted rates for credit union members, online services, and 24/7 claims service.
If you haven’t compared auto insurance lately, it’s a great time to take a look. Your credit union membership could result in some nice savings. Get your free quote today or call 1-855-483-2149.
TruStage™ Auto Insurance Program is offered by TruStage Insurance Agency, LLC and issued by leading insurance companies.
Discounts are not available in all states and discounts vary by state.
The insurance offered is not a deposit and is not federally insured.
This coverage is not sold or guaranteed by your credit union.
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