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Member Option Program

The new Member Option Program at CES Credit Union offers payments up to 40% lower than conventional financing.

You're in the driver's seat with the Member Option Program

The upside of the Member Option Program at CES Credit Union is your payments can be up to 40% lower than conventional financing. Plus...

  • No money down
  • A payment that meets your budget
  • Flexible loan terms from 24 up to 72 months and yearly mileage options of 12,000 miles, 15,000 miles or 18,000 miles per year
  • Eliminates your risk of negative equity
  • You own the vehicle, and have the option to keep any equity in the vehicle if you choose to keep, sell or trade the vehicle

Key Benefits

  • You own the vehicle, and it is titled in your name (unlike a conventional lease program). 
  • You carry the full-coverage personal vehicle insurance from the company you choose. 
  • You can negotiate the vehicle purchase price like a cash purchase with the dealer.
  • Lower excess mileage charge than most leasing programs of only $.10 per mile*.
  • Lower disposition fee than most leasing programs of only $195*.
  • Refinance the remaining loan balance at loan maturity or anytime during the loan term.
  • Keep, sell or trade the vehicle at loan maturity or anytime during the loan term.
  • Return the vehicle at loan maturity in lieu of making the final balloon payment with no end of loan term hassles. Vehicle pick-up is arranged, even if you have moved to a different state!

Loan subject to credit qualifications.
*Fees apply only if you decide to return the vehicle in lieu of making the final balloon payment

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Eligible Vehicles

  • Future year, current year, and up to five year used vehicles. All vehicles excluding motorcycles, commercial vehicles and RVs.

Financing Terms

 
  • 24 to 72 months

Residual Value

  • Established based on the term of the loan using industry approved guidelines similar to leasing.

Payments

  • The difference between what you pay for the vehicle and the residual value is used to determine the principal portion of your payment, which results in a lower monthly payment than conventional financing.

You Own The Vehicle

  • Unlike leasing where the vehicle is titled in the name of the leasing company, with the Member Option Program the vehicle is titled in your name. This offers you greater flexibility both during the loan and at loan end.

Mileage Options

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

No Down Payment, No Security Deposit, No First & Last Payments Required.

No “Back End” Surprises

  • You will not be exposed to any hidden expenses either during the term of the loan or at loan end if you elect to return the vehicle. Leases have an excess wear and tear clause that is not clearly defined. In contrast, the Member Option Program clearly defines the vehicle return condition requirements.

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 lease, normally there is a stiff “early lease termination” penalty.

Local Return Option

  • If you move during the term of a Member Option Program loan and elect to return the vehicle, it may be returned locally. Many leases require you to return the vehicle to the original dealership, and if you have moved you will be responsible for the cost of returning it.

Interested, or want to learn more?

Use this payment calculator and include your contact information. We'll get in touch with you on the next business day or sooner. No obligation. (Or just send us an email using the "Send Us An Email" form below.) 

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