Shop around to find the car, van, light truck or sport vehicle you
want, then come to your credit union for affordable financing —
or have your loan pre-approved for that cash-in-hand negotiating
advantage. We can also help you establish the best price to resell
or trade-in your current vehicle.
MAPS™
(Member Auto Payment Saver) Drive The Car Of Your Dreams With A Lower Monthly
Payment! MAPS™
(Member Auto Payment Saver) is an innovative vehicle financing
plan. It offers lower monthly payments, lets you buy a new vehicle
every two or three years, and allows you to upgrade to that dream
car you thought you couldn't afford.
While similar in concept to leasing, MAPS™ overcomes many of
the leasing drawbacks:
You have full ownership of the vehicle.
There's
no security deposit required
There's
no "wear and tear" penalties.
There's
no
no capitalization fees!
How
Does MAPS™ Work?
It's simple. Finance your car through Choice One Community
Federal Credit Union. Our computers will determine,
based on industry-approved guidelines, what the car will be worth
the year your loan is scheduled to end (called the "residual
value"). We subtract the residual value from your loan and
base your monthly payments on the remaining amount.
For example, if your loan is for $20,000 and our computers tell
us the vehicle will be worth $8,000 (residual value) the year it
is scheduled to end, your monthly payments are calculated for $12,
000 ($20,000 - $8,000 = $12,000) instead of the full $20,000. Your
monthly payments could be lower by nearly 50%!
What
Happens At The End Of The Loan?
When your loan is paid up, you have the following options:
Sell
the vehicle, pay the residual value, and keep the difference.
Trade
in the vehicle and pay the residual value as part of the transaction.
Refinance
the residual value as a used vehicle loan.
Return
the vehicle to the credit union and forgo paying the residual
value.
Check Out MAPS™ Today!
If you're planning to buy a new car, van, or light truck, be sure
to call or stop by our new credit union office first. We'll be happy
to explain the details.
MAPS™
is a registered trade name of Membership Marketing Support Services.
Boats
& ATVs
If a recreational vehicle is your goal, check with us before buying.
With as little as 20% down, you can heading into your favorite unchartered
territory.
Motorcycles
Whatever your favorite motorcycle choice, we have financing available.
With a 30% down payment, you can choose a new or used motorcycle
and get the same rates and terms as with our new and used automobiles.
