Peninsula Federal Credit Union Stop N Go Loans

The New Auto Loan

Stop-N-Go Loan Advantages

You Own The Vehicle: Unlike leasing where the vehicle is titled in the name of the leasing company, with the Stop-N-Go Loan the vehicle is titled in your name. This offers you greater flexibility both during the loan and at loan end.

No Down Payment Required: Most leases require a down payment, often referred to as "Capitalization Cost" - our Stop-N-Go Loan does not.

No Security Deposit Required: Most leases require a security deposit - our Stop-N-Go Loan does not.

No First & Last Payments Required: Many leases require the first and last payments to be made at the time of loan disbursement - our Stop-N-Go loan does not.

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 '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 Stop·N·Go Loan 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 you do not normally have these options without a stiff 'early lease termination" penalty.

Local Return Option: If you move during the term of a Stop-N-Go 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.

Private Auto Insurance Flexibility: With a Stop-N-Go Loan you can determine what private auto insurance coverage you need. Most lease programs/companies dictate the minimum private collision and/or liability insurance coverage you must have. This is because with a lease, the lease company owns the vehicle and has exposure to liability in the event you are involved in an accident.

Realistic Residual Value: The Stop-N-Go Loan uses standard industry residual values. The residual value is not inflated to arrive at an arbitrary lower payment. This means if you elect to keep the vehicle upon loan termination you will not have to pay an inflated price to pay off the loan.

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