What is Better Than a Lease? Check Out Our Car Leasing Alternative.

man in new car getting keys

Whether you've already started the car buying process or are just beginning, you're probably wondering whether to buy or lease a new or used car.

Leasing usually means lower monthly payments, compared to purchasing the same vehicle.  However when you lease, the vehicle doesn't belong to you and may come with hefty upfront expenses, fees, and early termination penalties. 

When the lease term ends you may be faced with more fees for wear and tear.  Plus, you have no equity in the vehicle.  That means your next vehicle must be financed with loans, savings, or another lease that benefits the dealer, not you.

However, our Better Than a Lease vehicle loan combines the benefits of leasing without its hassle and expensive fees.

Better Than a Lease offers the following features:

  • Lower payments compared to traditional "loan to own" contracts.
  • You could then use the difference to increase your monthly cash flow or pay your car insurance.
  • A low or no down payment saves on initial out-of-pocket costs.  There's no security deposit and no initial fees.  
  • No penalties for early payment and you won’t pay charges for normal wear and tear at the end of your term.
  • Flexible Terms include 7,500, 10,000, 12,000, 15,000 or 18,000 annual mileage allowance options.

Better Than a Lease works for new or used vehicles, with terms from three to five years. 

Like we told you...it's better than a lease!

Here's another great perk. Since dealer leases are based on the manufacturer's suggested retail price, you have more freedom to negotiate the best deal with Better Than a Lease.

So, now you must be wondering what happens when the term ends, right?  Well, you have multiple options for when that time comes:

  • Sell the vehicle and use the proceeds to pay off the balance, keeping any profit.
  • Keep the vehicle and refinance the remaining loan balance.
  • Trade in the vehicle and realize any equity you have.
  • Return the vehicle, and the balance will be paid off less any fees for excess mileage, unrepaired damage, improper use or modifications, or missing original equipment.

Here are a couple of final thoughts if you're wondering if this is really a good avenue for you.  Better Than a Lease is ideal if you have low mileage needs, prefer late models, and you keep your vehicle well maintained.

Click here to calculate your savings, build your vehicle, and compare the cost of traditional financing and our lease-like program.



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About Author

Bill Burpeau
Bill Burpeau

Bill Burpeau is a relationship manager at Hanscom FCU. As a Credit Union Certified Financial Counselor, he is an enthusiastic advocate of financial literacy and education. He constantly studies and is up to date with the latest financial management concepts and technology. Bill is a graduate of Texas A&M University with a BBA in Business Management and served in the U.S. Navy as a Supply Officer.

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