Straits Advantage: A New Type of Auto Loan
Better Car, Lower Payment
How would you like a low payment vehicle loan program that combines the best features of conventional financing along with the benefits of leasing?
Straits Advantage gives you the best of both worlds. Like a lease, Straits Advantage offers payments considerably lower than conventional financing. Yet, unlike leasing you own the vehicle and enjoy the flexibility and benefits that come with vehicle ownership.
You Have Options
Call Us At 231-627-3145
Example:
| Conventional Loan | AFG | |
| Loan Amount | $30,000 | $30,000 |
| Loan Term | 36 months | 36 Months |
| Guaranteed Future Value | n/a | $16,500 |
| Monthly Payments | $869 | $464.80* |
*Payments 1-35 are $464.80 with a 36th payment of $16,500 (GFV)
| 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 | Established based on the term of the loan using industry approved guidelines similar to leasing. |
| Payments | The difference between the residual value and what you pay for the vehicle is used to determine the principal portion of your payment, which results in a lower monthly payment than conventional financing. |
| End of Term Options | • Sell the vehicle, pay the residual value and keep any difference.
• Use the vehicle as a trade-in, and the residual value is paid as part of the transaction. • Keep the vehicle and refinance the residual value as a used vehicle loan. • Return the vehicle at loan end and walk away. |
