Loan vs. Lease

Still thinking about leasing? There are a few items you’ll want to consider:

• The sum of one to two monthly payments may be required up front, as well as some other up front costs.
• No money down doesn’t always mean no money down.
• Very often you are encouraged to take a longer lease, in order to keep monthly payments down. And, you may not be able to end your lease early without incurring a hefty fee.
• The dreaded excessive wear and tear at the end of your lease is subjective. Make sure you know what the description of "excessive" is before you lease.
• And then, of course, there are all the basics such as monthly payments, mileage limits and the cost of auto insurance, not to mention you still don’t own your car at the end of the lease!

Convinced that a credit union low interest car loan is for you yet? Having a credit union car loan secured before you enter a dealership puts you in control. You are able to avoid getting "caught up" in a financing package that is too costly and contains unnecessary add-ons. When you enter a showroom with your loan secured you are in the driver’s seat. You are now in a position to negotiate for your new vehicle with confidence and are more likely to obtain the best deal. It is important for you to also know that credit union low interest car loans are available for new and used vehicles, the choice is yours. At PenFinancial, we will always do everything possible to make you feel comfortable in your decision to purchase a new vehicle. We know you don’t want to feel as though you are ‘missing’ something. That’s why we’ll take the time to sit down with you, to go over in detail, all aspects of the commitment you and the credit union have agreed upon. Well, now all you need to do is call your credit union Loans Officer, who can help to point you in the right direction. Don’t delay, get in the lead!

COMPARE
You have three options: you can receive a $2000 rebate which you will use as a down payment with an PenFinancial credit union car loan, or you can take 1.9% Dealer financing and give up your rebate or you can lease your new vehicle at 3.9%. Consider the following illustration and decide which one you would choose: