Auto Loans | Lease Alternative Program

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Lease Alternative Program (LAP) | Guaranteed Auto Protection (GAP) | Payment Protection | Consumer Loan Rates

• Use this online calculator to compare the cost of a LAP Loan with a conventional loan

A LAP loan with Centra offers lower monthly payments than a standard lease... and more options, too. With a LAP loan, we guarantee your vehicle's future value at loan maturity. In addition to substantially lower monthly payments, LAP features:

• Payments up to 40% less than conventional financing.
  
• A maximum of 18,000 miles per calendar year, compared to 15,000 for most leases. Excess mileage is charged at only $.10 per mile.
  
• No acquisition fee, no turn in fee, and no security deposit.
  
• The option to upgrade your vehicle and still keep your payments affordable.
  
• The option to purchase - not lease - new vehicles for 2- to 5-year terms and used vehicles up to 4-year terms.

After your LAP term is up, you can:

1. Trade the vehicle in and have the dealer pay off the remaining loan balance.
   
2. Sell the vehicle, pay off the loan balance, and keep the funds.
   
3. Keep the vehicle and refinance the remaining loan balance (subject to approval).
   
4. Bring the vehicle to Centra Credit Union and walk away with no further obligation. There is no charge for normal wear and tear, only for physical damage. Missing items that were delivered with the vehicle, and mileage in excess of contracted amount will be assessed a fee.

Call a Member Service Representative at 800-232-3642 today to compare a LAP loan with conventional financing.