Your vehicle lease is about to expire and decided to keep your vehicle? No problem, CRCU can assist you in purchasing your lease.
- Competitive interest rates
- Discounts available
- No hidden fees
- No early payoff penalties
- Flexible due dates to fit your schedule
- Minimum out of pocket expenses
Benefits/Good to Know
Some Good to Knows
- Only leasee can purchase the lease
- A valid driver license is require
- Verification of Lease will be required
- Lease purchase instructions are required
- 10 business day payoff is required
- Insurance must include deductibles not to exceed $1,005
- Original signatures are required on the title application and Power of Attorneys for title work
- Tax, Title and License will be calculated and collected at time of closing
- Registration must be current and cannot expire in the next 60 days
- Visual inspection on collateral may be required
- Complete an application and electronically sign the document using a secure and intuitive online process. Please be aware that this process may verify your identity by asking a series of random "out-of-wallet" questions, which may be created from public record and credit databases.
What's all Available
- Credit Life/Disability Insurance is available for your vehicle loan
- GAP Insurance is available for $495. This helps pay off your remaining loan balance if your auto is stolen or damaged and is deemed to be a total loss.
- Extended warranty protection is available
Before you apply, be sure to gather the following:
- Employment information (including employer name and contact information)
- Proof of income (pay check stub or W2)
- Information about the vehicle (make, model, year, mileage, and VIN) or collateral
- Contact leasing company and request lease purchase instructions and payoff instructions
Tools to buy or refinance your ride:
Auto Loan Calculator
Estimate your monthly car payment.
GAP Insurance Available
Save on dealer pricing with GAP insurance.
Two skip-a-pays every year
Skip a loan payment at your convenience.
Auto Loan
Rates
Browse all current auto loan rates.
The Process
Need Assistance?
For personal help with your loan application, drop by your neighborhood CRCU branch or give us a call at (800) 238-3228.
*APR = Annual Percentage Rate. Certain terms, conditions, and or discounts apply to rates listed. Rates current as of 10/01/2024, and are subject to change based on market conditions and borrower eligibility. A $30,000 loan with a 48-month term at 5.04% APR equals a $746.17 monthly payment. Your monthly payment includes principal and interest and may be higher or lower depending on your loan amount, APR and term. Payment also includes monthly premium for Payment Protection which includes Credit Life and Disability Insurance. Credit Life and Disability Insurance is not required. Other rates and terms available. May not be combined with other offers. All loans and rates are subject to approval and some restrictions may apply. All loans closed directly at the dealership must be pre-approved at the credit union and closed at the pre-approved rate to qualify for the rate discount. Subject to mileage and vehicle age limitations. A vehicle is considered new when the model is current calendar year, next year so long as the mileage does not exceed 7,500 miles. CRCU finances up to 120% of MSRP (new vehicles) or the NADA Retail value (used vehicles). Maximum loan to value (LTV) is 120% including tax, license and fees. Maximum LTV is subject to approval and certain restrictions may apply. Not available to refinance an existing CRCU auto loan. The minimum approved loan amount is $500.00. Offer subject to change or cancellation without notice. The rate listed above include all applicable discounts. View rates page to view all disclosure & rates. CRCU Membership required. Contact us for details. Offer subject to change or cancellation without notice.
FAQs
Can I apply for a loan when the lease agreement is under my name and wife?
Lease purchases require same members listed on lease agreement to be listed on loan.
My neighbors have a lease vehicle and I want to purchase it. Can you finance the vehicle?
No. Only Lessees are allowed to purchase the lease.
Are there any fees associated with this type of loan?
Most Leases require Tax, Title and License fees to be calculated and collected at time of loan closing.
I only have a state issued ID, can I still get a title loan?
A valid state issued drivers license is required.
Can I get a loan when I only have an out of state driver’s license?
Non expired out of state drivers licenses are acceptable.