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Check With Avadian Before You Finish Your Lease-to-Loan Purchase Elsewhere

Leasing a car is an attractive option. You get a new car without the gaudy monthly payment you’d have if you were buying it instead. It’s nearly always under warranty the entire time you have it. When you’re signing your lease, you pay attention to the mileage restrictions, and you may or may not pay attention to the purchase price that may be stipulated in your agreement. And then you turn it in in about three years and lease another new car.

At least that’s how it often works.

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However, right now, with the inventory of new and used cars on the market diminished, turning in your leased car may not be quite as attractive because it’s going to cost you even more than ever to replace it.

So you may decide you want to buy it instead. Your first thought is probably going to be to contact the financial institution that is financing your lease and see what they offer for lease-to-loan financing.

That’s what one member did recently.

Our member contacted the big bank that financed his lease, found out the buyout price for his lease, and learned that he could purchase his vehicle with an auto loan at 4.44% APR for 60 months.

But he didn’t stop there. He contacted Avadian to find out if we could beat that rate.

Most lenders have different rates depending on the age of the car. Avadian offers its lowest rates on a range of model years, not just the most recent model year. Because the member’s lease was just a few years old, it qualified for the lowest rate tier. He got a much better rate. And he got to defer his payment for 90 days1. Big savings.

The moral of the story is this: if you have a lease that’s about to expire, and you’re thinking about buying it instead of just turning it in, make sure you check with us first. Your lease may be new enough to qualify for the lowest rate tier, saving you loads of money each month and over the long-term.

Just click here to apply for a loan, and see if we can save you money.

Subject to membership, creditworthiness, and approval.

  

1Offer is valid for credit scores of 720 or higher. Choosing to defer a loan payment extends the term of the loan. Interest will continue to accrue during the deferral period. Normal loan payments will be due as scheduled 90 days from the date of the loan origination.



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