RT# 267078707
RT# 267078707
| Category | DrivingSense | Conventional Financing |
|---|---|---|
Monthly Payments |
Lower payments with savings as high as 40%. |
Typically higher monthly payments. |
Loan Terms |
Flexible terms ranging from 24 to 72 months on all models up to 5 years old. |
Fixed terms, often less flexible. |
Payment Structure |
Based on actual use of the vehicle (depreciation) with a final balloon payment based on projected resale value. |
Based on full vehicle cost without factoring depreciation. |
Negative Equity Risk |
Reduces negative equity risk by aligning payments with the vehicle's depreciation. |
Higher risk of negative equity, especially with rapid depreciation. |
| Category | DrivingSense | Leasing |
|---|---|---|
Ownership |
Vehicle titled in your name; you own it. |
Vehicle owned by the leasing company. |
Flexibility |
Pay off, sell, or trade your vehicle anytime with no pre-payment penalty. |
Restrictions on early termination and pre-payment penalties. |
End-of-Term Options |
Return the vehicle at loan maturity or pay the final balloon payment to keep it. |
Return the vehicle; often with mileage or wear-and-tear penalties. |
Eligibility |
New and pre-owned vehicles up to 5 years old. |
Primarily new vehicles; limited options for pre-owned vehicles. |
Excess Mileage Charges |
Lower charges at $0.10 per mile. |
Typically higher charges than DrivingSense. |
Upfront Costs |
No money down; no hidden costs like acquisition fees or security deposits. |
Requires upfront costs such as capitalization fees, acquisition fees, and security deposits. |
Relocation Flexibility |
We pick up your vehicle anywhere in the U.S. if you return it at loan maturity. |
Requires returning the vehicle to the original dealer location, potentially incurring travel costs. |
Subject to credit union lending guidelines and eligibility requirements. Terms and conditions apply.
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1 Annual Percentage Rate (APR) = Annual Percentage Rate. Subject to term and credit qualifications. Annual percentage rates may vary. Annual percentage rates may change during loan terms on variable rate products. Membership and/or participation fees may apply. Inquire about specific fees for a product through your credit union.
2 Annual Percentage Yield (APY) = Annual Percentage Yield. Rates may change at any time without prior notice after the account is opened. Fees may reduce earnings. APY determined at time of funding.
Membership qualifications and account opening required for all products and services. Minimum credit or risk score may be required to qualify for products and services.
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