When it comes to financing your car, you can trust your credit union not
to steer you wrong. Because unlike banks and auto dealerships, our number
one priority is to make your auto financing easy, convenient and flexible.
Payment Shaver is all that and
more. It's a loan, offered only through your credit union, that's structured
like a lease – only better. How? Just look at the benefits.
Enjoy Lower Payments
When you finance with Payment Shaver, monthly
payments are generally lower than with a lease and can be up to 30 percent
less than a standard loan! Typically no security deposit or down payment
is required, and there's no charge for excess wear and tear.
Drive More for Less
Payment Shaver allows up to 18,000 miles per
model year – considerably more than the 12,000 to 15,000 you're allowed
with a lease. And you pay as little as 8 cents per mile thereafter, compared
with a lease, which can charge you up to 20 cents or more a mile.
Get the Loan Length You Want
Use your Payment Shaver loan on new cars for
terms up to six years. Used cars up to four years old are eligible for enrollment.
Also, you can terminate your Payment Shaver loan without penalty simply
by paying it off, unlike being locked into a lease.
Keep Your Options Open
Payment Shaver gives you four easy options at
the end of your loan. You can:
- Sell the car, pay off the loan balance
and, if there's equity, keep it;
- Trade the car in and pay off the loan
balance;
- Keep the car and refinance the amount
owed; or
- Return the car to the credit union and
the balance will be paid off subject to charges for excess mileage,
missing equipment and unrepaired damage covered by insurance.
How to Set the Wheels in Motion
For more information about the many advantages
of Payment Shaver, talk to our loan department or visit the Payment Shaver
web site at www.paymentshaver.com.
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