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Purchase Existing Lease


Drive off with rates
as low as 1.74% APR*

Your vehicle lease is about to expire and decided to keep your vehicle? No problem, CRCU can assist you in purchasing your lease.

  • Competitive interest rates
  • Discounts available
  • No hidden fees
  • No early payoff penalties
  • Flexible due dates to fit your schedule
  • Minimum out of pocket expenses
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Benefits/Good to Know

  • Only leasee can purchase the lease
  • A valid driver license is require
  • Verification of Lease will be required
  • Lease purchase instructions are required
  • 10 business day payoff is required
  • Insurance must include deductibles not to exceed $1,005
  • Original signatures are required on the title application and Power of Attorneys for title work
  • Tax, Title and License will be calculated and collected at time of closing
  • Registration must be current and cannot expire in the next 60 days
  • Visual inspection on collateral may be required
  • Complete an application and electronically sign the document using a secure and intuitive online process. Please be aware that this process may verify your identity by asking a series of random "out-of-wallet" questions, which may be created from public record and credit databases.
  • Employment information (including employer name and contact information)
  • Proof of income (pay check stub or W2)
  • Information about the vehicle (make, model, year, mileage, and VIN) or collateral
  • Contact leasing company and request lease purchase instructions and payoff instructions

Tools to buy or refinance your ride:

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Auto Loan Calculator

Estimate your monthly car payment.

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GAP Insurance Available

Save on dealer pricing with GAP insurance.

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Two skip-a-pays every year

Skip a loan payment at your convenience.

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Auto Loan
Rates

Browse all current auto loan rates.

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The Process

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Dad and kids in back of SUV

Before you apply, be sure to gather the following:

  • Employment information (including employer name and contact information)
  • Proof of income (pay check stub or W2)
  • Information about the vehicle (make, model, year, mileage, and VIN) or collateral
  • Contact leasing company and request lease purchase instructions and payoff instructions

Prior to loan closing, be sure to:

  • Contact your insurance agent to add new lien information and retrieve a binder
  • Insurance binder should list CRCU as lienholder and have our PO Box address
  • Sign your loan documents in person – or electronically with our online application

For loan closing, please:

  • Bring Lease Agreement and/or Lease Purchase Instructions
  • Bring a current state-issued photo ID
  • Bring insurance binder
  • Present the vehicle for a visual inspection, if applicable

Need Assistance?

For personal help with your loan application, drop by your neighborhood CRCU branch or give us a call at (800) 238-3228.

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Apply Today

 
*APR = Annual Percentage Rate. Certain terms, conditions, and or discounts apply to rates listed. Rates current as of April 6,2020, and are subject to change based on market conditions and borrower eligibility. A $25,000 loan with a 60-month term at 2.74% APR equals a $446.79 monthly payment. Your monthly payment includes principal and interest and may be higher or lower depending on your loan amount, APR and term. Other rates and terms available. May not be combined with other offers. All loans and rates are subject to approval and some restrictions may apply. All loans closed directly at the dealership must be pre-approved at the credit union and closed at the pre-approved rate to qualify for the rate discount.  Subject to mileage and vehicle age limitations. A vehicle is considered new when the model is current calendar year, next year so long as the mileage does not exceed 7,500 miles. CRCU finances up to 120% of MSRP (new vehicles) or the NADA Retail value (used vehicles). Maximum loan to value (LTV) is 120% including tax, license and fees. Maximum LTV is subject to approval and certain restrictions may apply. Not available to refinance an existing CRCU auto loan. The minimum approved loan amount is $500.00. Offer subject to change or cancellation without notice. The rate listed above include all applicable discounts. View rates page to view all disclosure & rates. CRCU Membership required. Contact us for details. Offer subject to change or cancellation without notice.

FAQs

Lease purchases require same members listed on lease agreement to be listed on loan.

No.  Only Lessees are allowed to purchase the lease.

Most Leases require Tax, Title and License fees to be calculated and collected at time of loan closing.

A valid state issued drivers license is required.

Non expired out of state drivers licenses are acceptable.