How would you like the low monthly payments of a lease, without all the heavy restrictions and hidden costs? TCT's unique Payment Saver Auto Loans offer monthly payments that are considerably lower than conventional financing - plus all of the flexibility and benefits of vehicle ownership, making car ownership more affordable and less stressful. 

“I like the option of a lower monthly payment. Plus, the vehicle has a guaranteed future value, so I know what it will be worth and that I won’t be “upside-down” at the end of the loan term.” – James S.

Payment Saver Program Benefits

1. You Own the Vehicle
Unlike leasing where the vehicle is titled in the name of the leasing company, with the Payment Saver Program the vehicle is titled in your name.  This offers you greater flexibility both during the loan and at loan end.

2. No Down Payment Required
Most leases require a down payment, often referred to as “Capitalization Cost” — Payment Saver does not. Loan to value restrictions apply.

3. You can select a 7,500, 10,000, 12,000, 15,000, or 18,000 miles per year option.
The excess mileage cost is only $.10 a mile, unlike leasing which can cost up to $.25 per mile. End of term fees only apply if you exercise the walk-away option.

4. No Surprise Expenses
You will not be exposed to any hidden expenses either during the term of the loan or at loan maturity if you elect to return the vehicle. Traditional leasing has an excess wear and tear clause that is not clearly defined. In contrast, the Payment Saver Program clearly defines the vehicle return condition requirements. Payment Saver has a lower disposition fee than most leasing programs of only $195.*
*Fees only apply if you decide to return the vehicle at loan maturity in lieu of making the final balloon payment.

5. No Early Payoff Penalty
Because you own the vehicle you may pay the loan off, sell the vehicle or use it as a trade-in at any time during the term of the loan — without any penalty. With a traditional lease these options typically come with a stiff “early termination” fee.
 
6. Option to Keep Your Vehicle is Easy
With traditional leasing, if you decide to keep your vehicle, you have to buy it out. Which means you’ll pay tax, title and license on the vehicle you’ve been driving. With the Payment Saver Program, you simply refinance your balance into a conventional loan, no additional charges. It’s already titled in your name.

7. Realistic Residual Value
The Payment Saver Program uses standard industry residual values. The residual value is not inflated to arrive at an arbitrary lower payment. This means if you elect to keep the vehicle upon loan termination you will not have to pay an inflated price to pay off the loan.

Shop for your next vehicle, compare estimated monthly payments, and apply online at tctfcu.org/payment-saver

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