This auto loan combines many benefits of a lease – such as lower monthly payments with no down payment – with the advantages of a traditional loan. At the end of the loan term you can either pay off the loan balance with a balloon payment, refinance the remaining balance as a used car loan (conventional loan), or simply return the car to LAPFCU with no additional cost. Members may be charged for excessive wear and tear on the vehicle and/or excessive miles above 15,000 per year.  The POLEASE loan is perfect for members who like to have a new car every few years. POLEASE loans are available only on new vehicles and feature:

• Terms up to 60 months*.
• 100% financing of retail value plus tax, license, document fees and service maintenance contracts, on approved credit.
• Loan pre-approvals, apply now through CUFFS (Credit Union Fast Financing System).
• A fixed interest rate (variable rates are not available)

Plus, an opportunity to save an additional 1/4% by doing one of the following:

• Make payments with payroll deductions
• Schedule automatic payment transfers from your checking or savings account
• Open a direct deposit account, to transfer payments

(Promotional Rates Are Excluded)

*Payment Example (Rate effective 12/04/09): POLEASE loan: A 5 year loan for a 2009 Mercedes Benz, 4-Door Sedan C300 (suggested retail value of $40,000) with 0% down at 6.50% fixed APR with automatic payments, would have 59 monthly payments of $604.53 and a balloon payment of $13,199.90.