Get the Car You Want with a Flex Auto Loan!

Have a car in mind but not sure you can afford it?

Cinfed’s Flex Auto Loan helps you get the car you want with monthly payments that work for you!

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How a Flex Auto Loan Works:

Unlike a conventional auto loan, the Flex Auto Loan works like a lease (except that you actually own the vehicle). Cinfed helps you determine the term length and monthly payments, then a remaining balance is established for the end of the term.

When the term ends, you can keep the car by paying the remaining balance or financing the balance at the current rate. Or you can simply return the car.

  • Eligible Vehicles: New and used vehicles (up to five model years old); all vehicles excluding motorcycles, commercial vehicles and RVs.
  • Financing Terms: 24 to 72 months
  • Residual Value: Determined by the term of the loan, using industry approved guidelines
  • Payments: The difference between what you pay for the vehicle and the residual value determines the principal portion of your payment

What advantages does the Flex Auto Loan have over typical lease agreements?
  • You own the vehicle, unlike a lease (where the leasing company holds the vehicle title)
  • No down payment or “Capitalization Cost” required
  • No security deposit required
  • No first and last payments required at the time of loan disbursement
  • Five annual mileage options ranging from 7,500 to 18,000 miles per year. Excess mileage cost is only $0.10 per mile, compared to $0.25 per mile for most lease agreements.
  • No hidden or “surprise” expenses if you elect to return the vehicle.
  • Determine your own private auto insurance coverage instead of mandatory minimum private collision and/or liability insurance coverage often required by leasing companies.

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